Today we wanted to share with you the best locations for foreign investment in Turkey.
Investing in overseas real estate has now become the new norm. The number of investors leaning towards investing in overseas real estate is increasing every year. We have all witnessed how travel, commerce, and technology have turned the whole world into a global village.
Investing in foreign real estate has many advantages. Rental income can often cover the mortgage, help in waiving off tax, as well as benefit you as an extra form of income in the long run.
It can also serve as a solid property for future generations. And investing in different countries can minimize the impact of the rise or fall of a particular country’s economy.
Post-Covid has seen many countries now relax their restrictions on foreign investment in real estate. As horrible as it’s been striving through the covid pandemic, it’s beneficial to see some of its advantages. So, we welcome this trend that every enthusiastic investor will surely take advantage of. Now, the question that arises here is: Which country should you choose to invest your hard-earned money in?
We have already previously discussed some very important reasons why Turkey is one of the best countries to invest in real estate. So, before taking that next step in the process, let’s now discuss the best locations to consider within Turkey for your real estate venture.
Which location in Turkey would be best for your Real Estate Investment?
Turkey is a huge country with many attractive areas that have and still are being developed in terms of real estate, infrastructure, and business. So, it can be very confusing trying to find the right place for your project and standards of living. Some points to consider would be:
-The growth or housing & employment as well as the economy of the area.
-The reasons why you want to invest in Turkey in general
-The projected future value of the properties purchased in the area
-The benefits that you hope to obtain in your investment
-The general cost of living in the area
-The area’s potential for offering a promising return
-Your affordability and budget
-The type of property you are looking for
To help you decide, we have put together the top most popular areas to buy property in Turkey for expats and the reasons why.
Top locations to buy in Turkey
Istanbul the Top City for Foreign Investment
Istanbul is racing ahead to be in the top five cities in the world. One of its surprisingly major attractions when compared to the other global counterparts, is its affordability.
Istanbul may not be the capital city of Turkey, however, it’s always been the limelight of Turkey. Istanbul is the biggest city in the country, accommodating the largest percentage of the working-class in its heart.
It’s the main tourist spot in Turkey being so well-connected to more than 55 countries across the world. Istanbul’s new 3rd international airport has become another main attraction to the country and the city of Istanbul in particular, making travel more convenient and facilitating only a 4-hour flight to most major cities. Because of this, Istanbul also enjoys being one of the main commercial centers of the country.
Istanbul is also home to the main seaport of Turkey and the breathtaking scenery of the Marmara sea is well worth witnessing. The promenades along the shore are always lively and full of Istanbul charisma.
Property in Istanbul is popular for those who love the buzz of city life, or needing to be close to business and work possibilities. The hospitality of people in Istanbul is world-renowned and the city can instantly give a feeling of home & comfort to any foreigner.
Istanbul assures rental income irrespective of the property type, and it’s liquidity potential of real estate is assured as it has proven to positively spike every year. You’ll be able to find a wide variety of real estate opportunity in Istanbul, particularly if you are seeking property for investment. This is irrespective of seeking a conservative more practising Muslim environment or a more secular, relaxed European environment. You will always find what you are looking for in Istanbul, regardless of your requirements and/or budget.
Why Bursa is Popular with Foreign Investors?
Bursa, like Istanbul, is full of historical beauty, Mosques and Ottoman architecture, there are many cultural centres, shrines and museums to venture into. There are plenty of family friendly places to explore and enjoy including its popular therapeutic spring water spas, swimming pools and hot baths.
When looking at Bursa’s economic growth, you will see it ranks right next to Istanbul regardless of it being much smaller in size. Bursa is famous for its greenery and forests, it has a high class and affluent population. Bursa’s lavish houses and villas have always been popular in their number of sales to foreigners and those attracted to the elite lifestyle.
Bursa is also very easily accessible via sea, air, or road, nationally and internationally. Other popular destinations such as Fethiye, Bodrum, and Antalya are all easily reachable from Bursa – so this convenience is another main attraction.
For those who are looking for a good property investment in Turkey for rental income, Bursa never disappointed. It is particularly a top choice for Arabic cultures and Muslim expat community for it’s location, and similar culture attributes.
Being located at the Uludag mountain, Bursa is one of Turkey’s renowned skiing locations that draws tourists in millions every year. There are also many popular spas and resorts located on Mudanya & Yalova beaches that surround Bursa, boasting beautiful sea views. These, of-course, are all major tourist magnets in Turkey.
Investing in Kusadasi
This Aegean coast city of Turkey is famous for its tourist landmarks and seaside resorts. It seems to attract a more relaxed, calm and nature loving people, senior citizens and retired couples especially enjoy it’s greenery and coastal walks. No trip to Turkey is complete without paying a visit to Kusadasi.
Istanbul connects to Kusadasi via Izmir airport offering the opportunity to visit it within a 55min flight. It has two of the largest theme parks in Turkey and the nightlife in Kusadasi is another point to consider.
Everyone has a different comprehension and expectation of what good late night entertainment is. Some really like the good old fashioned partying at high end bars & clubs and some would prefer something completely different. We would say Kusadasi has something for all. Aside from the general night clubs you will expect to see in other holiday towns & resorts, there are other areas with facilities and opportunity for safe late night beach gatherings with friends, romantic evening walks & high end dining options too.
Kusadasi has been drawing global investors’ attention for many distinct reasons. The real estate prices in Kusadasi are lower compared to other regions in Turkey as well as internationally. The location offers a variety of properties that include a generous collection of holiday homes that range from affordable apartments to luxury condominiums.
The properties in Kusadasi are known for their luxury features. There are villas with private pools and beautiful landscaped private gardens. There are also lavish multi-storeyed homes offering serene views of the sea and their white sand beaches.
Bodrum is Good for Foreign Investment too!
Bodrum is famous for it’s sailing facilities and community due to it’s sea port. It Boasts the best yachting spots, breath-taking views and resorts. There is already a considerable number of expats & foreign real estate property owners living there that have created a comfortable environment and pleasant english speaking atmosphere where even the locals are able to understand the language very well.
As we know, Turkey is well renowned for its beautiful mix of modern and cultural style of infrastructure. And Bodrum has become famous for offering the best of this in their architectural style, when it comes to modern real estate property in Turkey.
Many of the ongoing projects in Bodrum are incorporating a traditional style of architecture in their construction. And this perfect mix of modern and contemporary architecture styles is now trending substantially with foreign buyers.
In summery, Bodrum offers a comfortable lifestyle with weekly markets and well-connected transport facilities. There are many options for shopping and sightseeing there for anyone who is looking to invest in a holiday home or seeking a buy to let opportunity.
Foreign Investment in Antalya
Antalya is a Turkish resort city and home to an old harbour filled with yachts and beaches known as the Turquoise Coast for its beautiful blue waters. This southern Mediterranean region of Turkey is flanked by large hotels that are very popular with tourists throughout the year.
It’s convenient that the climate of Antalya is comfortable with the sun shining almost 300 or more days in a year. Antalya is also super connected to other cities with its two airports. There is also some interesting historical places to visit in Antalya and there’s even some remnants from Antalya’s time as a major Roman port that still remain.
According to Turkey’s newly updated earthquake map, Antalya along side Konya region show as the most safest places within Turkey in terms of earthquake danger & risk.
It’s interesting to note that when Turkey’s government opened the gates for foreigners to invest in real estate, it was Antalya that witnessed the first surge in demand for luxury high end properties. So, even though Antalya seems to be many people’s dream place to settle down in today, this tells us that the love that foreigners & expats have for Antalya now, isn’t new. Antalya has kept the title of being the most desirable place for foreigners to buy & settle in for the past 60 years.
Antalya has developed into an amazing city of it’s own, attracting many tourists throughout the year. Hosting many bazaars and holiday resorts. however, it’s still the best place for a more calm and relaxing way of life. Many Muslim expats are forming a homestead community on the outskirts of Antalya and there seems to be a growing trend on buying land for farming, living off-grid and just enjoying the peace and contentment of nature and more natural way of life.
Investing in Alanya
Alanya is a resort town on Turkey’s central Mediterranean coast (also known as the Turkish Riviera). Its wide beaches lined with hotels include Cleopatra Beach, where the Egyptian queen reputedly swam. It’s also famous for the great Alanya Castle, which is a giant Seljuk-era fort turned open-air museum that stands on a rocky bluff above the beachfront. Alongside of which you will see red tile–roofed Ottoman villas and the popular octagonal Red Tower.
Alanya attracts real estate investors for many reasons. Firstly, because the living costs & prices of real estate there are more affordable than in other western and European cities, and secondly, it shares the same comfortable living facilities and bright and sunny weather as Antalya. It’s very clean and beautiful and after Istanbul, it’s the most diverse and multicultural in it’s population, homing more than 80 different nationalities.
There are many things one should consider when thinking of investing in real estate abroad. Being a stranger to a country and investing in it with hope and aspiration can be challenging. You also have to keep in mind the future and interest of your children during this process. Therefore, choosing the right location and property type should be done after careful thought and mind mapping.
So, to summarise, Turkey has proved to be a haven for foreign property investors and there’s no doubt that there’s a positively increasing market and plenty of hopeful future projects in Turkey. The country is obviously attracting investors like never before. However, there have still been some unfortunate experiences with many that have not gone about it in the right way. So, we would recommend you take professional licensed real estate expert guidance and legal advice before taking any further steps in this important decision to ensure that the results are always to your advantage.
We hope you enjoyed this post and that it was of some help in describing the types of places that have been made popular by foreign investors, tourists & expat community. While we have tried our best in summarising these areas without leaving out any important details, we would still highly recommend visiting them all in person and witness the vibe yourself.
If you are interested in investing in any of the above locations, please feel free to contact us to see what amazing projects are available that suite your preference.
Did we leave anything out? Have you been to any of these places and wish to add your own important advice or information? Please do contribute in helping those interested in the comments section below. 😉