Where to Buy and Rent Out Your Property in Turkey?
Based on the attractive power of tourism in Turkey, real estate investment in Turkey provides a profitable return on the property. This boost is most apparent in tourist periods and seasons, through the demand for rental homes, summer houses, holiday houses, apartments, and villas distributed throughout the year. The investment studied in real estate, which is highly sought after during the tourism season in Turkey, can provide an encouraging profit, and a good return on investment.
That means you could potentially buy a $250.000 property in Turkey to secure your Turkish citizenship, then rent out the property for the 3-year no-sell duration to get the double of your purchase.
The relatively low cost of living in Turkey with the availability of the necessities of a good life, and advanced living systems, provides a good opportunity for residence in Turkey. Medicine in Turkey is cheaper than all European countries, which has given the health sector in Turkey unparalleled prosperity and demand in recent years.
Turkey has a charming nature, and unparalleled appeal around the world, and a relatively mild climate, next to a civilization and a long history that showcases the wonderful cities of Turkey. Istanbul alone was ranked eight among the most visited cities in the world in Insider's 2019 list, passing Tokyo, Seoul, Mecca, and Barcelona. Antalya was number 10 on the same list with 12.4 million visitors.
Turkey offers various alternatives to non-nationals who intend to make an investment and remain in the county. A property buyer guide will help you know the most lucrative place to stay and set up a business or invest in real estate. The most famous place to reside in Turkey for non-nationals includes Istanbul, Mediterranean coast cities, and Aegean. Even though many business owners love to invest and live in Istanbul, non-nationals who intend to live and make property investment in many peaceful towns like Didim, Fethiye, Bodrum, and Marmaris. Additionally, many people have bought properties in Bodrum. When a foreigner buys properties, the chances of being a Turkish citizen increases.
Some landlords in Turkey rent their property for the long term (1-year minimum) and much the same as in western countries. The return of your investment varies depending on where you choose to buy the property. For example in the holiday coastal town of Bodrum, rental prices for a fully furnished apartment average between 2000-3000 lira a month but head north to Istanbul, the most expensive place to live in Turkey and expect to pay 4000 lira and more for a 3 bedroom apartment.
It is common for the Turkish landlord to ask a month’s (up to three months') deposit in case of damages. This saves the landlord the hassle of chasing money every month. If the rental payment is 1000 lira a month or higher, the law says, it must be given via bank transfer, so there is a paper trail. Some occupants will also ask for a receipt if their employer is paying accommodation costs or they can get back their rental fee on their tax returns.
Locations
For being the most populated city of the region, Istanbul holds both the title of most affordable and most luxurious apartments in all Turkey. This city with 16 million population is in constant growth. The young population is always on the hunt for apartments around the globally popular universities located in Beşiktaş, Beyoğlu, Tuzla, or Kadıköy. Families and workers who come from out of the province are always looking for apartments closer to the city centers, Taksim, Üsküdar, Şişli, or Kadıköy.
Bodrum is a developed town of Muğla in Aegean that benefits from the history and sea tourism, as well as the alive nightlife. The district of Muğla is a frequent stop for sailing fans for its beautiful and modern ports. The ancient city of Halicarnassus was founded on the land of Bodrum. One of the World Wonders, the Mausoleum used to stand on the land. Bodrum nowadays is a great escape spot for those who wish to have their own villas in a more secluded setting. In summer, Bodrum gets full of local and foreign tourists. There will be always people stopping by the area for holiday, and wish to stay in a private location to visit many art events, theatres, concerts, and dance shows.
Surrounded by mountain ranges, Ankara is Turkey’s capital city. Ankara has grown exponentially since the foundation of the country in 1923 and is now racing with Istanbul in terms of city development. With a population of approximately 1 million, Çankaya is the highest populated district of Ankara, as well as the whole of Turkey. As the community is home to government buildings, the population can reach to 2 million during the day. The subway system is highly incorporated into the city life, and you can easily traverse most of the province from Çankaya. The subway system is highly incorporated into the city life, and you can easily traverse most of the province from Çankaya.
Kuşadası is the most popular holiday destinations in Turkey thanks to the large cruise lines that take tourists to the nearby ancient sites. Yet, it has many more bonuses up its sleeve when it comes to activities. There are not many points in the world that has numerous ancient sites, remarkable natural attractions, top-tier outdoor activities, and gorgeous shores like the Aegean region. Kuşadası is located at the center of all these unique attractions and adds its own spectacular sceneries to the mix. Some of the popular attractions of its region like Izmir, Çeşme, Alaçatı, and Didim are closely located to the district. Greece's Samos island is just a boat ride away from the area.