Top 5 Reasons to Buy a Property in Turkey
Thinking about owning a slice of paradise? Turkey might just be the perfect place to plant your roots, whether you’re after a sun-soaked getaway, a retirement haven, or a sound investment that benefits you for years to come. Let’s dive into the top five reasons why buying a property in Turkey could be the right choice for you.
1. Affordable Property Prices
One of the standout reasons to consider Turkey is the incredible value for money when it comes to property. Turkey offers high-quality properties at a fraction of the cost compared to other Mediterranean countries like Spain or Italy. Whether you're looking for a cosy apartment in Istanbul, a luxurious villa on the Aegean coast, or a charming stone house in the countryside, there’s something for every budget.
The affordability extends beyond the purchase price too. Non-residents will pay property taxes when buying, owning and selling real estate in Turkey, but property taxes are lower compared to many European nations. The tax on rental properties for foreigners ranges from 20% to 40% depending on how much rental income you receive.
2. A High-Quality Lifestyle
Living in Turkey is about enjoying life to the fullest. If you’re thinking of retiring to Turkey, you’ll enjoy a more relaxed pace of life while waking up to breathtaking views of the Mediterranean or Aegean Sea, enjoying fresh local produce, and spending your evenings exploring lively bazaars or sipping tea by the Bosphorus.
The cost of living in Turkey is, on average, 46.4% lower than in the United States and the healthcare system is also modern and affordable, making Turkey a great choice for retirees or families. Expats often rave about how far their money stretches, allowing them to enjoy luxuries that might be out of reach in their home countries. From wellness retreats to world-class spas, Turkey offers plenty to enhance your well-being no matter how old (or young!) you are.
3. Delicious Food
Turkish cuisine is a feast for the senses. A favourite of ours is the hearty breakfasts featuring fresh bread, olives, cheese, and honey but lunch is just as delicious with flavourful dishes like kebabs, mezes, and seafood - a food lover heaven! And let’s not forget the desserts! A slice of baklava or a bowl of rice pudding will sweeten any day.
Owning property in Turkey means you’ll have access to fresh, locally sourced ingredients. Whether you’re shopping for produce at a local market or dining out, you’ll enjoy a rich culinary experience without breaking the bank. For those who love cooking, having a home in Turkey is a chance to experiment with a new world of flavours, spices and culinary delights.
4. Endless Things to Do
Whether you’re an adventure junkie, a history buff, or a beach lover, Turkey has it all. Owning property here means you’re never far from an exciting activity.
Beaches and Water sports: Picture yourself lounging on the pristine beaches of Antalya or exploring hidden coves in Bodrum.
History and Culture: Turkey is home to some of the world’s most iconic historical sites, from the ancient city of Ephesus to the fairy chimneys of Cappadocia.
Shopping: You can shop till you drop in Istanbul’s Grand Bazaar or find unique treasures in small-town markets.
Nature: If hiking, paragliding, or sailing are your thing, Turkey’s diverse terrain offers endless opportunities.
5. Investment and Citizenship Opportunities
Turkey’s real estate market is booming, making it an attractive option for investors. As a result, the Turkish government has made it easier for foreign buyers to invest. Turkey’s citizenship by investment programme allows ex-pats to apply for citizenship with a minimum property investment of $400,000, which comes with its own set of perks—like visa-free travel to many countries.
Even if you’re not looking to sell, buying property in Turkey can provide a steady income stream through rentals. Cities like Istanbul and holiday hotspots like Antalya and Fethiye are always in demand for short-term and long-term rentals.
Bonus: The Warm and Welcoming Community
One of the unexpected joys of owning property in Turkey is the sense of community. Buying property in Turkey isn’t just about owning real estate; it’s about investing in a vibrant, enriching lifestyle. The Turkish people are famously warm and hospitable, often going out of their way to make newcomers feel at home thanks to the growing international communities in popular areas. Whether it’s through language classes, social clubs, or local events, you’ll find plenty of ways to integrate and make lasting friendships.
Turkey has something for everyone. That dream home by the turquoise waters might be closer than you think! And don’t forget, you can also get in touch with our currency experts to explore how we can help make your money work for you when buying property in Turkey.