Real estate in Turkey is increasingly attracting foreign investors
The country of four seas has in recent years transformed its exclusively resort status, becoming an attractive opportunity for foreigners to invest in real estate in Turkey and move for permanent residence. Thus, according to statistics at the beginning of 2009, more than 40 thousand properties throughout Turkey are owned by foreigners. This article will discuss possible reasons for such interest, who predominantly moves to which regions, whether it is easy to settle in this country, and other interesting facts.
So, let's start with the question 'why Turkey?' The main arguments are as follows:
- Stable economic situation.
- Convenient visa regime (in particular, for Russians).
- Affordable prices (buying a house in Turkey is an order of magnitude cheaper than, for example, in Sochi).
- Simplified procedure for acquiring property for foreign citizens.
Who buys real estate and moves to Turkey? The question can be summarized as follows:
- In first place in eagerness for Turkish lands are residents of Greece (over 12 thousand residential properties).
- Germans are slightly behind them (over 10 thousand).
- Next come Syrians (about 5 thousand properties).
- British (4 thousand).
- Natives of Denmark (about one and a half thousand housing units).
Regarding Russian citizens, such precise data is not yet available, since the law allowing the purchase of real estate in Turkey under a simplified scheme came into force relatively recently. However, it is reliably known that the size of the Russian community in the main regions of Turkey is about 10 thousand people, on the basis of which one can conclude that there is a significant share of 'our' investors and a position in the above ranking no lower than third place.
Where do they live in Turkey itself?
Undoubtedly, the leading and main places are the coast, specifically the Aegean and Mediterranean. Kuşadası, Bodrum, Fethiye, Kemer, Antalya, Side, Belek, Alanya – these regions experience an endless year-round flow of tourists, as well as those wishing to buy a house in Turkey and settle for permanent residence.
Is it easy for foreigners in Turkey, what can be done on permanent residence, and other food for thought:
- A foreigner cannot take out a mortgage on official grounds, but it is possible to arrange an installment agreement with the seller.
- Purchasing any real estate (from an apartment to a villa in Turkey) does not require providing a certificate of income.
- The cost of utilities for the population is generally higher than in Russia, but lower than European rates.
- Food prices in public catering chains in Turkey are quite affordable for everyone. For example, a full family lunch for three (!) people will cost about 20 (!) euros, while in Russia, such a meal would require several times more expenditure.
- Turkey has a generally low crime rate, and in terms of legislation, native residents and foreigners who have come for permanent residence have equal rights.
The disadvantages for Russian citizens living in Turkey can include the Muslim religion and associated prohibitions and restrictions (on drinking alcohol in public places, style of dress and behavior), to which our 'broad soul' sometimes finds it not so easy to adapt. However, there is no place on earth where everything is ideal. Moreover, on the territory of your own property, for example, your own villa in Turkey, you are free to do whatever you want. And the best solution is simply to visit this country and understand whether it is 'yours' or not!