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Why is Turkey a good choice for Real Estate Investment?

You may have heard about, or read in the press, that Turkey is one of the upcoming countries in the world, when it comes to investing in Real Estate, but you may not know why…so here are a few reasons why you should consider this unique country – a fusion of the mysterious East and the cosmopolitan West, when you are planning your next property purchase.


As of October 2020, there are not many countries in the world which haven’t been adversely affected by the current Coronavirus Pandemic – but Turkey has been classed as the 3rd least affected, according to the OECD.  As a result of this OECD classification, Turkey has recently launched new infrastructure projects, such as new hospitals and schools, together with a 330 Km long highway, linking the Marmara, Black Sea and Mediterranean regions, which is planned to open in time to coincide with the country’s Centennial celebrations in 2023.  Positive signs of the confidence in Turkey’s economic growth – currently Turkey has one of the fastest growing economies in the world with an average GDP growth rate of 5.5%


Turkey’s unique and strategic location has created an efficient and cost-effective hub to major markets giving easy access to 1.5 billion people and a combined market worth of USD 24 trillion GDP in Europe, MENA, and Central Asia within a 4-hour flight radius.  This has attracted worldwide names such as Toyota, Ford, Nestle and Hugo Boss, all of whom have chosen Turkey as a hub for manufacturing, export and management.  Such investment creates employment for the increasing number of young, well-educated citizens of Turkey, a result of the rapid expansion in the number of universities in Turkey, creating a dynamic and educated workforce.


Despite the Covid pandemic, Turkey’s property market continues to boom, with more than 41,000 new properties being sold in Turkey during September 2020 – 5,269 of which were sold to foreigners.  Around 8,000 new properties were sold in Istanbul, the main city for buy-to-let investors in Turkey.  (Around ¼ of these properties were bought by foreign investors)  Iranian investors accounted for the highest number of property sales to foreigners in Turkey during September 2020, closely followed by Iraqis and Russians.  Other foreign investors came from United Kingdom, Germany, United States, and China and other countries.

Buying property in Turkey is a very quick and straightforward process and is available to citizens of 129 countries.  There is no Capital Gains Tax in Turkey if you keep your property for 5 years and foreign buyers are also exempt from VAT on a first home purchase, when buying with foreign currency.


The country’s Citizenship by Investment programme is proving hugely popular. At the time of writing, 2843 people from 76 different countries, the majority of which are from China, have accquired property in 29 different Turkish provinces to become Turkish citizens.  A Turkish passport gives visa-free travel to 111 countries

As one of the world’s favourite holiday destinations, with almost 52 million people visited Turkey during 2019 – an increase in income of 17%, and worth more than $34.5 billion. Many visitors enchanted by the beauty, the lifestyle and the economic attractions of Turkey account for a large percentage of property sales.



  1. Thanks to a high GDP, stable inflation, a growing middle-class sector and a young, property-hungry population, investor confidence in Turkey is at an all-time high.


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Why Invest in …….?

Investing in Istanbul Real Estate is one of the best decisions you can make.  Due to the central and unique location of Istanbul, the history, the cosmopolitan nature of this vibrant and much sought after city, owning a property here is a guaranteed investment success.  However, thereafter comes a dilemma – in which area of Istanbul should you buy?

It’s a well known and often repeated fact that Istanbul straddles two continents – Europe and Asia, and is therefore one of the most popular cities to visit.  It is a lesser known fact though that Istanbul is actually known as Istanbul Province, and comprises 39  neighbourhoods, each with it’s own local government, and complete with necessary facilities such as housing, infrastructure, schools, hospitals, shopping malls.

Why Invest in …….Sisli is one of the 39 districts of Istanbul.  Located on the European side of the city and covering around 35Km2, it is bordered by Besiktas to the east, Sariyer to the north, Eyup and Kagithane to the west and Beyoglu to the south.

Developed as a middle-class centre during the Ottoman period, Sisli boasts wide avenues with large buildings and was home to Armenians, Jews and Greeks (and a few Turks).  Following the founding of the Turkish Republic in 1923 the area became a favourite of poets and writers and Sisli acquired theatres and cafes.  The Hilton Bosphorous Istanbul was built here in the 1950s, the first Hilton outside of USA, and was quickly followed by other presitigious hotel chains.

Nowadays the elite of Istanbul have moved further out of the city and their large homes have become banks, offices and large retail units.  Sinc the 1970s a period of renovation has taken place and most of the grand buildings have been demolished, to be replaced by modern high rise apartment blocks.  Sisli is known as a centre for shopping, and Europe’s biggest (and the world’s second largest) shopping mall Cevahir, is situated here.  The charming area of Nisantasi is known as the home for high fashion in Istanbul, and you can find many designer studios within the narrow back streets.

Şişli also has a reputation for education with some well-known high schools and a great number of dersane (preparatory courses for the annual university entrance exams), evening and weekend schools where people come to cram for university or high school entrance examinations, or to learn English.

Due to it’s central location Sisli is once again known as an up and coming area of Istanbul, and residential properties here are at a premium.  We are proud to present a number of exquisite apartments in this desirable location, complete with every modern facility and amenity for your family.



Why Invest in …….Bomonti?

Being  part of the Sisli neighbourhood, Bomonti is best known as being one of the first light industrial zones in Istanbul, and was later home for the brewery, the first one of the Ottoman Empire, which takes it’s name.

Following the construction of the Bosphorous Bridge, during the 1970’s, urban accessibility was improved and gradually the factories closed and the area became a dead zone.  Recently however, the area has been the subject of mass transformation, due to the central location within Istanbul and high land prices, and is now an area of large scale multi-storey projects.

Modern tower blocks offer stunning views of this amazing city, and being just a short distance from the shopping areas of Sisli, together with a rise in entertainment venues in Bomonti itself, properties here are in great demand.

Why Invest in …….Kagithane

Kagithane is formerly a working class district, covering an area of 14.52km2 on the European side of Istanbul, which has recently become one of the largest real estate development areas of the city.  The area takes it’s name from the former paper factories and flour mills which were prominent in the area.

Nowadays, following the introduction of new intra-city networks and urban regeneration plans, Kagithane is transforming into one of the smartest addresses in Istanbul.  New developments include a wide range of mixed use, shopping mall, hotel, campus, office and residential units.  One of the most prominent buildings in the area is Istanbul Sapphire, boasting 54 floors and rising 238 metres, Sapphire was once the tallest building in the city, and the 4th tallest building in Europe.

Why Invest in …….Esenyurt

On the European side of Istanbul, Esenyurt is a ‘new’ area of Istanbul, with lots of recent development.  Bordered by Kucukcekmece Lake on the east, Buyukcekmece to the west, Arnavutkoy and the new Istanbul airport to the north and the major E5 highway to the south, Esenyurt is becoming a favourite residence amongst Istanbulites.

Esenyurt is a developed area, with good infrastructure and transport links – the new Istanbul airport is just over 40 Km from Esenyurt.  There are four new cultural centres and four new parks in Esenyurt which add to the impressive list of facilities in the area such as shopping malls, hospitals and health facilities, Universities, conference centres, nature park and other leisure activities.

Due to land prices in the area, property here is quite affordable and it is possible to buy a brand new, modern apartment for less than $50,000.


Why Invest in …….Maslak

Maslak is the main business area of Istanbul, located on the European side of the city and is home to Turkey’s Stock Exchange – Borsa Istanbul, and also the huge, green leafy Belgrad Forest.

Maslak gets it’s name from the water pools brought through channels from the Buyukdere River, but it is now known as Skyscraper Central, due to the proliferation of tower blocks, some of which offer tantaslising glimpses of the iconic Bosphorous Strait.

Maslak is quite close to the centre of Istanbul, with Taksim Square being just a few stops away by Metro, from where you can easily reach all parts of the city.  In the other direction, you can find the beaches of Kilyos or watch the fishing boats at the picturesque port of Sariyer, and hardly believe you are in Istanbul at all.  The new Istanbul airport is easily reached via the new D020 road and is approximately 34 Km away.

Due to the central location, and being close to many businesses, shopping and leisure outlets, apartments in Maslak is in great demand, and are thus perfect for investors looking for buy to let property.

Why Invest in …….Eyup

Eyup, or Eyupsultan, is a district of European Istanbul, on the shores of the Golden Horn, which takes it’s name from the magnificent and imposing Eyup Sultan Mosque.  There is a gondola ride, rising up from behind the mosque, up to the historial Pierre Loti Coffeehouse, named after the French writer who was a frequent visitor in the late 19th Century.  Being the highest point of European Istanbul, you can soak up the panoramic views of the Golden Horn, whilst enjoying a refreshing drink.

Being in a central Istanbul location, and having good infrastructure and transport links to the city, this is a favoured development area and property values are rising quickly.  Apartments here are proving popular with investors seeking entry level opportunities with scope for capital growth, and a steady income from tenants who prefer the easy commute into the city.  However, it is still possible to find a modern apartment, with good views, from as little as $65,000.




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Return On Your Investment in Istanbul

One question everyone asks, when thinking about investing in Istanbul, is ‘how much return can I expect to receive?” and so this article sets out to explain how real estate investment works, and how to get the best return on your investment.


First of all, there are two ways in which you can get a return on your property investment.  These are rental income and capital appreciation.  Such returns are generally tied in with the security of a country, therefore the safer the country (in terms of policital and financial stability) the lower the risk, thus the lower the income, compared to a more volatile country, where the risks may be higher, and thus returns too are higher.


It is thus important, when buying in Turkey, to recognise the stability and security of the country, which is classed as “an upper-middle income country, with an impressive economic and social development performance since 2000.” (*World Bank).


As most investment properties in Turkey are in Istanbul, we shall focus our attention there.  Over the past 5 years, house prices in Turkey have increased, on average, by around 15% annually, however new properties in Istanbul have increased by around 25% in the same period.

Properties in Istanbul generally offer more social and leisure facilities than those in traditional Turkish cities, which increase their rental income and resale value, coupled with ongoing Governmental capital investments such as new transport links, retail facilities, education and health establishments etc., all of which combine to increase property values.


Another factor to consider when buying property for investment is property size.  In Istanbul, families tend to be smaller, with many people living alone – having left their birth city for the improved life and employment opportunities Istanbul offers.  Property maintenance fees are calculated based on the size of a property, plus of course, running costs increase according to property size, thus we advise that you focus on 1 or 2 bedroom properties, when buying for investment.


When it comes to rental income, of course this can fluctuate enormously, depending on the quality of the property, facilities nearby etc, but we can say that, on average, rental income in Istanbul is around 6% of the property price, per year.  In order to maximise your rental income, we advise that you should choose a project with proven highly sought-after properties.  Usually these can be close to a university or hospital, or similar, and almost always within a modern complex which offers leisure facilities, leading to a healthy and more relaxed lifestyle.


We can therefore conclude by saying that, in order to obtain the most return on your investment, you should make an informed choice, by having the most comprehensive and up to date information at hand and by dealing with a recognised Property Specialist who has a unique relationship with proven builders and who are able to guarantee the best price.  Choose wisely – choose UD Turkey!

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How to plan your Real Estate Investment in Turkey

Once you have decided that Turkey is right for your next investment, you will have many questions regarding the how’s, the when’s, the where’s and the what if’s, so this information will help you to understand the process and the timescales when you buy property in Turkey.


As an investor you will know that planning is key to success.  And the more information you have at your disposal, the easier it will be to make an informed decision….  Buying in any foreign country is always worrying, but even more so when you do not understand what’s being said.  At UD Turkey we speak your language – our advisors are fluent in Turkish, English, Arabic, Russian and French.


Your first decision will be “Where in Turkey” you want to buy.  The answer to this question depends on the reason for your purchase.  As a lifestyle investor, you may want to find the best property for your family to enjoy their time in Turkey, whether that will be for permanent, year-round living, or simply a vacation home..  however, as an investor, only the numbers are important.  You will want to find the property which will give you the best return on your investment, in terms of rental income and capital appreciation.


As a vast country, there are many areas of Turkey which may suit your needs, and as you begin your search, you may discover that what you had previously thought was the best location for you, is not the case.


UD Turkey is unique in that we can help you with your search in ALL areas of Turkey, so you can deal with the same company whether you are buying in Beautiful Bodrum or Incredible Istanbul!  We work with the best developers around the country and can thus offer you advice and support regarding the best area for your purposes.

Once you have decided on your preferred area, you need to find the right property at the best price.  Due to our special relationship with builders we can guarantee the best prices on the market, as you are dealing direct with the developer.  We will send you details of several different property options, within your chosen area and price range, so that you can make an informed decision, before you even visit Turkey.


Your next step will be to see the area of your choice in person.  Again UD Turkey can help you to make the arrangements and will suggest quality hotels, so that you are ready to see the properties after a good rest.  We will be with you as you inspect the properties you have already pre-selected, to act as translator and to answer all of your questions.


Once you have decided on your property, we will assist you with the buying process, introducing you to qualified and trusted solicitors, help you to open a Turkish bank account and arrange Power of Attorney so that we may continue to complete the purchase on your behalf, after you have returned to your country.


UD Turkey’s Legal, Aftersales & Property Management teams will continue to work with you, and for you, to find tenants for your property (if required), to enable you to start receiving income from your investment.


So you can see, that buying a property in Turkey is an easy and streamlined process, when you work with a qualified, experienced and dedicated team of Property Specialists.



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Turkish Citizenship by Real Estate Investment

Following the relaxation of the Citizenship by Investment law in Turkey in December 2018, many investors are taking advantage of the fact that, for an investment of just $250,000 they, their spouse and dependent children can obtain Turkish Citizenship and a Turkish passport.


The Turkish passport is ranked 22nd in the world and offers visa-free travel to 47 countries.  In addition, entry to a further 41 countries is permitted with visa-on-arrival.  Such countries include:  Qatar, Tunisia, Jordan, Iraq, Morocco, Japan, South Korea, Malaysia, Singapore, Hong Kong, Indonesia, Brazil, Argentina, Belarus, Bosnia and Herzegovina, Brunei Sultanate, Chile, Colombia, Ecuador, El Salvador, Georgia, Paraguay, Serbia, South Africa, Thailand, Turkish Republic of Northern Cyprus, Ukraine and Uruguay.


One of the ways you can apply for Turkish citizenship as an investor is to buy property/ properties to the combined value of $250,000, with the proviso that the property will not be sold within 3 years.  Once the sale has been concluded a Certificate of Eligibility will be issued to the property owner.


There are other ways in which you can apply for citizenship, without owning property (such as making a minimum investment of $500,000; creating jobs for at least 50 Turkish citizens; buying at least $500,000 worth of Turkish Government bonds etc), but buying property, whether residential or commercial, is the route most preferred by foreign investors.

Once the Certificate of Eligibility has been issued, the foreign citizen must then apply for a Residence Permit before later submitting an application for Turkish Citizenship.  The procedure for acquiring citizenship goes through several stages, and concludes when the application has been passed by the Turkish Presidential office.


Investors may wonder about the benefits of Turkish citizenship.  The most obvious is the ease of access to over 80 countries, including the Schengen states of Europe (for which a visa is required, but easily obtained), but being a Turkish citizen also offers many other benefits such as free education, access to excellent health facilities, life in a safe and beautiful environment etc.


Obtaining a passport in a foreign country sounds quite difficult and could be a daunting prospect for some, however Turesta’s professional legal team and property advisors, who are knowledgable in all matters related to real estate and the Citizenship application, will make the process very easy.



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How does the Turkey citizenship application process work?

The Turkish Investor Program is a Turkey citizenship application that allows you, through investing in Turkish real estate, to obtain a Turkish Passport with the right to live, work and also enjoy easy access to Schengen countries. So, we responded to the 5 most commonly asked questions about application for Turkey’s citizenship process 2019.

Q: How is the process of applying for citizenship functioning in Turkey?

When you purchase property with a gross value of at least $250,000, you can apply to the Tapu Office (General Directorate of Land Registry and Cadaster) and register for Turkish Citizenship.

Firstly, the request goes to the Ministry of Environment and Urbanization, whose evaluators test and confirm the property’s value. The Ministry then puts a notice on the Tapu (title deed) stating that for three years you may not sell it.

They then forward your application to the General Directorate of Population and Citizenship Affairs and you can later register and collect your Turkish passport and ID card.

Q: Can my family have Turkish Passports too?

Yes. You, your wife or husband and also your children under the age of 18 (on the date of application) can have citizenship.

Q: Should I buy just one property for above $250,000 or can I buy multiple properties?

You can purchase either just one property or several properties that are worth more than $250,000 in total, but note that you need to apply for your citizenship for all at the exact time. Only if the reported values are above $250,000  the Tapu office accept applications for citizenship.

Q: What is the Ministry of Environment and Urbanization’s responsibility?

The ministry checks with sworn appraisers that the amount declared on the Title Deed is right and above $250,000. Because of that, you should pay the property value to the Property Sellers by bank transfer.

Q: What are the processes and expenses to apply for in 2019?

Procedures, the fees and expenses for citizenship are in below.

Turkey citizenship application

Process of Turkey Citizenship Application

According to this;

  1. Firstly, the charge for the Title Deed varies depending on the purchase price of the immovable property. The parties, the buyer and the seller, must pay 1.5% of the immovable value before 31.12.2019.


2. After the purchase of the immovable, you should apply for the conformity certificate.

3. Also, the certificate of compliance should be sent within 15 days to the client.

4. 256 TL + 85 TL residency fee and 80 USD visa fee will be charged after receiving the Certificate of Conformity. (If entry to Turkey was during the month that referenced 80 USD is not paid)

5. Short-term requests for residency are made after the applicant pays the relevant charges and the fee for citizens also is 15 TL per person.

6. Furthermore, to register for a residence permit, which varies depending on the insurance companies, it is mandatory to have a health insurance, but an average fee of 300-350 TL will be charged.

A notarized passport translation, prepared by a sworn translator is necessary for each applicant (i.e., spouse / children) for Turkey citizenship application.

7. A notarized passport translation, prepared by a sworn translator is necessary for each applicant (i.e., spouse / children) when applying for citizenship. Besides, roughly 200 TL per document are the expenses to be charged, including translation fees and notary authorization.

8. The notarized transcription of the marriage certificate with APOSTILE will cost 200 TL if the applicant is married.

9. The notarized translation of birth certificates with APOSTILE costs around 200 TL per report if there are children.

10. To benefit from the lawyer service during the purchase of the immovable property, the client must grant the attorney a Power of Attorney, provided by an authorized notary, and a sworn translator service is also required. The fees for attorneys and interpreters are about 350-400 TL.

For example, if one person wants to get citizenship with a $250,000 investment, the title deed + revolving fund is around 23,000 TL.

Approximately for other expenses, 1750-2000 TL will be needed. However, interpreter charges are the cost items that will vary here.

So, there will be about 500 TL for transportation, communication etc. expenses.

Also, if you wonder the advantages of investing in Turkey, you can visit the post of ours:

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Great Reasons for Investing in Turkey

In the subject of investment in real estate, Turkey lead the searches. We may claim its geographical, social-cultural and economic position as the first three reasons for this. Also, as other reasons for investment, low costs, medium and high returns, economic development and the legal advantages provided by the country may be given. Hence, we’ve summarized 4 reasons for investing in Turkey in this report.

1. Citizenship of Turkey

Turkey provides an investment program for citizenship. The Turkish Investor Program is a qualified citizenship program that allows you, while investing in Turkish real estate, to obtain a Turkish Passport with the right to live, work and enjoy easy access to Schengen countries.

Turkey declared in 2018 that foreigners should invest $250,000 to apply for citizenship. With the previously decreased investment amount from $1 million to $250,000, several investors had the ability to become both hosts and Turkish residents.

reasons for investing in turkey

2. Strategic Position

Turkey is one of the world’s most popular countries. It is also a natural bridge that links Asia and Europe and across history, it has many trading routes. Turkey still has a strategic location for Asia, Europe and Africa that is economically important.

reasons for investing in turkey

3. House Prices and Lower Bill Costs

Above all, one of the reasons of investing in Turkey is the Turkish lira has decreased in value in recent years. As a result of this situation, Turkey’s global housing sales have increased. For 2018, 2019 and 2020, corporate income tax dropped from 33% to 22%. In some special cases, foreign investors may be excluded from this tax in whole or in part.

4. Young Population

Compared to European countries, Turkey’s young population is very high. For investors who come for investment in real estate and business purposes, the young population is significant. Lastly, if you are willing to purchase Turkish estate and would like more information or advice on Turkish real estate law, or any other topic you may call us or send us an email.

reasons for investing in turkey

If you would like more information about the advantages of investing in Turkey, you can visit the post of ours:

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What are the advantages of investment in Turkey?

Turkey has land in both Asia and Europe continents. The country has many beautiful features such as multicultural architecture, fascinating history, and geography. Turkey is one of the most preferred countries for investment. Turkey is a developing country and the construction sector is one of the most growing areas in Turkey. Istanbul is one of the most well-known cities in Turkey. It is largest populated and most improved city in the coutry. We have illustrated advantages of investment in Turkey in this article.

1. Citizenship of Turkey

Turkish citizenship is the most important benefit of buying a property in Istanbul. There is a program called “The Turkish Investor Program” which is offered by Turkish government. It is an unique system of citizenship that requires you to obtain a Turkish Passport. In that way, you will have the right to live, work, and experience easy access to Schengen countries. Turkey declared in 2018 that you should pay $250,000 amount of investment to apply for citizenship.

advantages of investment in Turkey

2. Cheaper Real Estate Than Most Countries

If you are interested, this means that the most important part of your decision is costs. Turkey is a country where you can buy properties cheaper than most other countries, especially Europe. Investing in Turkey also has the benefit of obtaining a Turkish passport, as we described in the first chapter.

advantages of investment in Turkey

3. You will get a return from your investment

Investing in Turkey means investing in a project that has a good future. One of the advantages of investment in Turkey is investments in real estate are promising, particularly in a big city like Istanbul. Istanbul is the perfect investment if you want a return on your invest.

4. Living Cost

You will realize everyday wherever you live in Turkey, that life is more affordable than other countries. It ensures you are not only buying less expensive property than other countries, you will also live a more comfortable life than ever before.

advantages of investment in Turkey

5. Perfect Place for International Company Owners

Turkey is one of the world’s most popular countries. It is also, as we have already mentioned, a natural bridge connecting Asia and Europe. It has a lot of trade paths all through history. Today, Turkey still has a strategic position that is commercially vulnerable to Asia, Europe and Africa. If you do or intend to do an international work, it’s exceptional because of Turkey’s geographical location.

If you would like to learn about the advantages of investment in Turkey, you can visit the post of ours:

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