The best time to own a property in Turkey in 2024

Owning a property in Turkey is a wise and beneficial investment step, as this country has a unique charm that combines cultural diversity and natural beauty and choosing the ideal time to own a property in Turkey is a strategic decision that is affected by several dynamic factors and if you are wondering about the best period to make this investment, the important thing is to read on.

What is the best time to own a property in Turkey ?

1. It is preferable to consider the state of the Turkish economy and future trends and if there are signs of strong economic growth, this may be a good opportunity for real estate investment in Turkey.
2. Study the real estate market situation in the selected area, as price fluctuations and inflation rates can affect the timing of investment.
3. Follow up on any changes in government legislation related to owning real estate. Some policies may positively or negatively affect the investment decision.
4. You should take into account fluctuations in the exchange rate of the Turkish Lira against other currencies, as this can affect the cost of the investment and the value of the property.
5. Political stability plays an important role in the attractiveness of any real estate market and you must monitor the political situation and exercise caution during periods of instability.
6. Setting personal investment goals, whether for permanent residence or investment return, helps determine the right time to buy.

What are the benefits of owning a property in Turkey?

1. Turkey's economy is strong and stable, which enhances confidence in real estate investment.
2. Turkey is considered a bridge between East and West, making it a strategic place for investment.
3. Turkey includes stunning natural landscapes, such as beaches and mountains, which increases the attractiveness of real estate.
4. With a rich history and diverse cultural influences, investors can enjoy a rich cultural experience.
5. There is a wide variety of property types available, from apartments to villas and farms.
6. Turkey offers programs to obtain Turkish citizenship or real estate residency in Turkey, which enhances investment attractiveness.
7. Turkey offers a high standard of living at an affordable cost, making it an attractive destination for residents.
8. Technological development in Turkey contributes to improving the quality of life.
9. Health care is good and available at a reasonable cost.
10. Turkey provides a good educational system and opportunities for higher study.
11. Turkey offers long-term residence visas to investors.
12. Turkey is famous for its delicious food and rich cuisine.
13. Turkey real estate laws and property rights protect investors' rights.
14. Turkey has a strong communications technology infrastructure.
15. There is an efficient transportation network linking cities and regions.
16. Increased tourism boosts demand for short rentals.
17. Significant investment in infrastructure projects contributes to improving daily life.
18. The variety of activities and events meets the different tastes of residents.
19. Turkey is considered a safe and stable country.
20. The presence of diverse cultures and religions creates a lively and exciting environment.
21. Turkey contains many famous tourist attractions.
22. Continuous investment in construction projects enhances the value of real estate in Turkey.
23. Insurance programs provide additional protection for property.
24. Turkey has an advanced transportation network that makes access to cities and regions easy.
25. The presence of beautiful coastlines attracts investors.
26. Many cities contain important historical and cultural sites.
27. Turkey provides job opportunities for residents, making it an attractive place for families and individuals.

Tips before buying a property in Turkey 

1. Do extensive research on the real estate markets in Turkey and understand current and future trends.
2. Select the location carefully according to your needs and investment goals, whether for permanent residence or rental.
3. Don't hesitate to try to negotiate the price, as there may be an opportunity to get a better deal.
4. Carefully inspect the property to ensure it meets all structural and sanitary standards.
5. Make sure that all legal documents for the property are in order and there are no legal problems.
6. Speak with a real estate law attorney to ensure the integrity of the legal transaction.
7. Calculate all additional costs associated with the process such as government fees and registration fees.
8. Check and understand the expected tax costs well before making a decision.
9. If you are relying on financing, check all options and understand the terms of the available loans.
10. It may be beneficial to conduct an engineering inspection to check the condition of the property and infrastructure.
11. Evaluate the potential for a high return on investment, whether through rent or increased property value.
12. Read reviews and opinions from previous clients about real estate developers and real estate agents.
13. Check for good infrastructure in the area, such as schools, hospitals and public transportation.
14. Make sure you understand the laws regarding owning real estate as a foreigner in Turkey.
15. Due to the large value of the property, insurance may be necessary to protect your investment.

Buying a property in Turkey for the purpose of Turkish citizenship

1. You must buy a property in Turkey worth $400,000 to be eligible to obtain Turkish citizenship.
2. You must maintain ownership of the property for a certain period (usually 3 years) after purchasing it to be eligible for citizenship.
3. Ensure that all legal documents for the property are in order and comply with Turkish laws.
4. Hire a lawyer specialized in Turkish real estate laws to ensure that all legal procedures are done correctly.
5. Check that the property you are purchasing qualifies for an investment visa.
6. Be aware of the conditions and timing set by the government to preserve your citizenship rights.
7. Follow the legal developments related to Turkish citizenship and investment programs in Turkey to ensure the continued validity of the programs.
8. Sometimes, you may have to perform a short period of residence in Turkey to ensure compliance with the conditions.
9. Consult with experts in the field of immigration and real estate to ensure you make the most of this opportunity.

In the end, the investor should rely on the advice of professionals in the field of real estate in Turkey, and benefit from market experience and analysis to make an informed investment decision and regardless of when you may decide to own a property, the balance between thorough research, intelligent negotiation, and ensuring comprehensive legality remains the key to ensuring the success and desirability of your investment in Turkey.