Real estate investment in Turkey

Foreigners in Turkey can buy and sell housing and commercial real estate and rent it out.

Statistics confirm the liquidity of investments: residential property prices grow on average by 6,7% each quarter. Seven years ago, an apartment of 100 m² cost approximately €50,000. Today it’s sold for €180,000.

$777

Average price per 1 m²

$400,000+

Real estate investment for citizenship

5—8%

Associated costs, of the property value

How the residential property price index is growing in Turkey

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Cost of a 3-bedroom apartment in Turkey

€3 million

Penthouse in Istanbul, with a view of the Bosphorus

€1.2 million

Apartment within a 10-minute drive from Hagia Sophia Mosque

€500,000

Apartment by the sea in Alanya

Investment real estate in Turkey

https://immigrantinvest.com/wp-content/uploads/2022/09/schermata-2022-05-06-alle-16.45.08.jpg

location iconTurkey, Bodrum

$750,000+

Modern villa in a residential complex with a private beach
square icon175 m²
bed icon4
bathroom icon3
https://immigrantinvest.com/wp-content/uploads/2022/09/drone-2-1.jpg

location iconTurkey, Istanbul

$795,000 — $1,000,000

Sea view villa in a new luxury residential complex
square icon389 m²
bed icon4
bathroom icon5
https://immigrantinvest.com/wp-content/uploads/2023/07/3-31.jpg

location iconTurkey, Istanbul

$175,000 — $250,000

Apartments with co-living in the European part of Istanbul
square icon80 m² — 113 m²
bed icon1
bathroom icon1
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Turkey residency or citizenship by real estate investment

Residency. Owners of properties worth at least $200,000 can get residence permits.

A residence permit is issued for a year with the possibility of renewal every two years. To renew a residence permit, the holder must live in Turkey for at least 183 days a year.

After 5 years of living with a residence permit, a resident can get Turkey citizenship by naturalisation.

Citizenship. The buyer of one or more properties for a total amount of $400,000 or more can obtain Turkey citizenship without a language test and the obligation to live in the country.

Minimum real estate investment in Turkey

$200,000

For residency

$400,000

For citizenship

For citizenship, a plot of land can only be purchased if there is a building on it worth $400,000 or more or a building permit has been issued.

With $400,000 you can buy several properties and apply for citizenship, provided that each of them has a TAPU, a document confirming ownership. If there is no TAPU yet, a preliminary purchase and sale agreement must be attached to the application.

The investment amount does not depend on the composition of the investor’s family.

Discover real estate market trends in 41 European countries

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Discover real estate market trends in 41 European countries

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Taxes and associated costs

Countries to buy a property and get residency or citizenship

We offer proven properties that comply with the conditions of government programs for investors. You can buy real estate and obtain a residence permit or citizenship.

Country
Property investments
Status
Obtaining time
mt-flagmt-flag
Malta12 properties

€300,000+

Permanent residency

6+ months

Show 12 properties

€300,000+Permanent residency6+ months
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gd-flaggd-flag
Grenada19 properties

$270,000+

Citizenship

8+ months

Show 19 properties

$270,000+Citizenship8+ months
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ae-flagae-flag
UAE113 properties

AED 750,000+

Residence permit

2+ months

Show 113 properties

AED 750,000+Residence permit2+ months
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es-flages-flag
Spain36 properties

€500,000+

Residence permit

5+ months

Show 36 properties

€500,000+Residence permit5+ months
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pt-flagpt-flag
Portugal68 properties

Not limited

Residency after D Visas

6+ months

Show 68 properties

Not limitedResidency after D Visas6+ months
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40+ guides with European countries

Find out how much it costs to buy and rent real estate in each country, what the market dynamics are and what taxes you need to pay when buying and selling.

cy-flagReal estate investment in Cyprus

The Republic of Cyprus restricts selling properties to foreigners: a non-EU citizen can buy no more than two properties and need a...

€2,700

Average price per 1 m²

€300,000+

Real estate investment for residency

Learn more
ba-flagReal estate investment in Bosnia and Herzegovina

The sale of real estate to foreigners is not restricted in Bosnia and Herzegovina: one can buy, lease and sell housing and commercial...

€1,177

Average price per 1 m²

1,5%

Average price growth per quarter

Learn more
ad-flagReal estate investment in Andorra

To buy property in Andorra, a foreigner needs to obtain government permission.

€4,600

Average price per 1 m²

€551,500+

Real estate investment for residency

Learn more
es-flagReal estate investment in Spain

The sale of real estate to foreign investors is not limited in Spain: one can buy and sell housing and commercial real estate or rent it...

€3,300

Average price per 1 m²

€500,000+

Real estate investment for residency

Learn more
rs-flagReal estate investment in Serbia

Foreigners can buy and sell properties in Serbia. The lease is possible on the principle of reciprocity. If Serbian citizens are allowed...

€2,900

Average price per 1 m²

2.5%

Average price growth per quarter

Learn more
pt-flagReal estate investment in Portugal

Portuguese law does not restrict foreigners from acquiring real estate; they have the same rights as citizens of the country. Portugal...

€3,400

Average price per 1 m²

1.9%

Average price growth per quarter

Learn more
Elena Ruda

Material prepared by Elena Ruda, Chief Development Officer at Immigrant Invest

Updated:
08 October, 2024

Frequently asked questions

  • Can foreigners buy property in Turkey?

    Yes, if the buyer belongs to a country that Turkey has cleared for property acquisition.

    There are additional limitations, depending on the buyer’s nationality. Citizens of Armenia, Syria. North Korea. Nigeria, Cuba, or Yemen can not buy property in Turkey at all.

    Foreign buyers can own no more than 25,000 square metres of property in Turkey. The Council of Ministers can increase the area up to 30. Properties in Security Zones and Military Forbidden Zones can’t be purchased.

    Turkey’s requirements for foreigners’ property ownership are detailed in Article 35 of the Land Registry Law No 2644.

  • Is Turkey good for real estate?

    Yes. Turkish real estate objects are growing in price by 10—25% annually. At the same time, the average cost of housing in Turkey is lower than in other European Union countries — €1,800 per 1 m².

    Foreigners can get a residence permit or citizenship for investing in Turkish real estate. For a residence permit, they need to buy property worth $200,000.

    Turkey citizenship is issued by investment in one or more real estate objects totalling $400,000 or more. One limitation: investors choose a property that other investors did not buy to participate in the citizenship program.

  • How much does an average house cost in Turkey?

    The average cost of residential real estate in Turkey is $777 per 1 m². Housing prices depend on the region.

    In large cities and on the Aegean coast, housing is 2—3 times more expensive. The cost of 1 m² varies from $300 to $2,500 depending on the property type and location. The cities with the highest real estate prices are Istanbul, Bodrum and Alanya.

  • Are property prices falling in Turkey?

    No. Demand for residential properties in Turkey is growing every year, and so does pricing.

    Real estate in Turkey showed a 641,35% increase in value since 2010 and a 110% increase in value since 2021. This is the strongest dynamic in the Eurostat House Price Index.

    The price of a flat in Turkey rose, on average, a 141% increase. In Istanbul, it climbed from €72,866 to €144,886 in this period.

  • Is now the time to buy property in Turkey?

    Investors looking to make a profitable real estate purchase should consider the current Turkish market.

    Demand for property in Turkey is on the rise: in August 2024, residential property transactions increased by 9,9% compared to August 2023. From January to August 2024, transactions increased by 1,1% compared to the same period in 2023.

    The Turkish government also offers mortgage rates of up to 1%. Thanks to them, buying real estate will be cheaper.

    Buying real estate in Turkey for at least $400 000 is a chance to obtain Turkey citizenship. Investors can buy residential or commercial properties, plots of land, or real estate project shares. After three years of ownership, it is allowed to sell the property.

  • Why is property so cheap in Turkey?

    Property prices in Turkey can vary depending on factors such as location, property type, and market conditions. While it’s true that some areas in Turkey may have relatively lower property prices compared to certain other countries.