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Falling Lira: Good Time To Invest In Property

While Turkey has removed six zeroes from its currency two decades ago, it only stabilized the economy for a short term. The lira has been on a fall compared to many of the western currencies since late 2012. At the time of this article, in 2020, 1 Euro is equal to 7.74 Turkish Liras, and 1 USD is equal to 6.84 TRY. This huge difference attracts more people to the country every year. You can have the vacation of your dreams on the beaches of the Aegean Sea in Turkey, rather than spending more in Greek, on the opposite end of the region. You can stay in five-star hotels with your family at ease while the same holiday would cost a fortune in anywhere in Europe. If you have saved up some money and looking for your dream house, you might find that massive villa in Istanbul or the rest of the country for a much more affordable price than your country of origin.

The real estate market is one of the critical features of the economy. The real estate is rising fast day by day and it is helping the rise of the Turkish economy. There is an obvious increase in real estate projects in recent years. There are also numerous projects on the real estate market supported by the government to boost the economy. The support of the state help the people have their possession and help them have their dream houses. This expansion of the real estate market is the result of both native and foreign investor’s investments.

While foreigners are guaranteed a Turkish citizenship through a $250.000 real estate purchase, the amendment that allows them to gain citizenship also supports multiple property purchases as long as their collective -after taxes- a sum of cost is more than 250 thousand USD before taxes. These tax returns are filed every four years, and the rates range between %0.1-0.3. Even though the payment is made in USD, the price will be written in Turkish Lira on the title deed. The exchange rate will be according to the current day’s effective selling rate of the official Turkish Central Bank. You can read a more detailed explanation of how to gain Turkish Citizenship on our website or contact us for more information.

If you seek a vacation home for your getaway from all the city chaos, Turkey is a country that experiences all four seasons in between its seven regions. For those who want a summer house by the Aegean Sea, with still wanting to experience the wind of the Fall season, beautiful villas are waiting for you in Izmir, Muğla, or Aydın provinces. If you wish to truly experience the fairy tale snow season, we can guide you on houses that are right around the corner from a ski getaway. In the south, Turkey's Antalya alone is enough to fill your heart with the warmth of the sun in every season, as well as its magnificent ancient history where you can go on adventures at any time.

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