Is it smart to buy a house in Turkey?

Real estate buyers in Turkey have the added advantage over those in Cyprus or Spain, where property prices have already skyrocketed. With minimal annual maintenance and upkeep, well-maintained property in Turkey can bring a massive return on long-term investment.

Is Turkey a good place to buy a house?

If you are asking is Turkey a good place to buy property, our answer is yes. Don't just believe us, though, because the proof is in yearly house buying stats. Every year, between 40,000 to 50,000 foreigners buy property in Turkey, in places like Istanbul, Bodrum, Antalya and Fethiye.

What are the benefits of buying a house in Turkey?

Can a US citizen buy a house in Turkey?

Foreigners may buy land and property in Turkey in their own names, as long as the properties are located in towns, not in villages, or rural regions, or military zones. That said, there must be a municipality in the region where the property is located, and the property must be located within its bounds.

Is Turkey a good country to invest in real estate?

Yes. Turkish real estate objects are growing in price by 10—25% annually. At the same time, the average cost of housing in Turkey is lower than in other European Union countries — €699 per 1 m². Foreigners can get a residence permit or citizenship for investing in Turkish real estate.

DO NOT BUY PROPERTY IN TURKEY BEFORE WATCHING THIS VIDEO (Property Scams In Turkey)

How long can you stay in Turkey if you own a property?

The owner of the residence permission for a period of 1 year may renew it each year without any limit for as long as he owns the property. Renewal process of a residence permit can be done in Turkey. If a property owner does not live more than 1 year in Turkey, the time period may be shortened.

Which part of Turkey is best to buy a house?

Where is it best to buy a house in Turkey? Most often, houses are bought in areas and cities like Antalya, Kemer, Alanya, Bodrum, Fethiye and Istanbul. For those who are thinking about buying a house in Turkey by the sea, it is recommended to consider villas in Bodrum, Fethiye and Kemer.

How long can a US citizen live in Turkey?

What do I need to do if I want to stay longer than 90 days in Turkiye? If you wish to stay longer than 90 days in Turkiye, you must apply for a residence permit. Please visit Embassy's additional resources for US citizen's page ” Visas for Travel, Business, of Residency in Turkiye” section for more information.

What is the average cost of a house in Turkey?

The average price per square meter of residential real estate in Turkey reached $675 in October 2022, and the average cost of a house was $87,736. Residential real estate increased in price by 199% year‑on‑year, while the return on investment period grew up to 19 years.

Can I move to Turkey from USA?

To move to Turkey, you must apply for a Turkey visa. In addition, if you are moving to Turkey intending to remain in the country for more than three months, you must apply for a residence permit. Without a residence permit, you will be staying in the country illegally.

Do you pay property taxes in Turkey?

Annual Property Tax

When you own property in Turkey, you must pay an additional annual tax to the Turkish government. As cities across the country are split into big and small, real estate tax in Turkey varies based on the size of the city and kind of property.

Are property taxes high in Turkey?

Tax rates on the sale of real estate in Turkey

Legal entities pay the tax on income from real estate rental at a rate of 23%. High-value residence tax applies to Turkish real estate worth over TRY 5,000,000 or about $275,070. The tax rates vary between 0.3 to 1%, depending on the value of the real estate.

What are the pros and cons of living in Turkey?

Is Turkey a happy place to live?

Turkey is the unhappiest country, according to a report from the Organization for Economic Cooperation and Development. The report grades 34 European Union, North American and other member countries on 11 different criteria designed to measure happiness.

Is it cheaper to live in Turkey than us?

The cost in Turkey is at least 35 percent lower, with an average of $689. For the average monthly cost of living for a working individual, excluding rent, Turkey is also 58.6 percent cheaper at $408 compared to $985 in the US.

Why property is so cheap in Turkey?

There are various reasons, of which the first is the Turkish lira currency exchange rate. Therefore, foreign house buyers get good deals. Second, the areas with affordable housing have abundant land and properties for sale, and the ratio of interested buyers is lower. This is known as the supply and demand model.

How much money do you need to live comfortably in Turkey?

Choosing to live in Turkey, you can really save some money, because the country has a warm climate and always fresh products. You can find out more about the peculiarities of life in Turkey at the link. A family of 2 people in Turkey should count on a budget of 10,000 - 15,000 lira (€500-750) per month.

Can I live in Turkey if I buy property?

Can foreigners buy property in Turkey? You don't need to be a Turkish citizen or resident to buy property in Turkey³. However, buying a home in Turkey doesn't automatically grant the right to live there - foreigners may still need to apply for a visa or resident permit.

Which city in Turkey has cheapest property?

Can I retire in Turkey from USA?

Turkey doesn't have a visa specifically for retirement, so you have to apply for a residence permit instead. This requirement applies to anyone who intends to remain in the country more than three months.

Can I be a dual citizen of the US and Turkey?

Turkish laws do not contain any provisions requiring citizens who are born with dual nationality to choose one nationality or the other when they become adults.

Can I move to Turkey without a job?

What are the legal requirements for foreign employees? In order to work in Turkey, you must first secure a job offer, as your employer must apply for your work permit – you cannot apply yourself.

What is the process for buying a house in Turkey?

What size Turkey is best to buy?

Q: What size turkey should I buy? Plan on about one pound of turkey per person, which translates to around half a pound of edible meat. Over 15 pounds or so, turkeys become more difficult to cook, take much longer, and are more prone to drying out. I find the best birds are around 10 to 12 pounds.