Turkey’s real estate market has experienced significant growth and development over the years, becoming one of the most attractive markets in Europe. In 2021, Turkey sold a staggering 1.5 million properties, topping all other European countries, according to data from the Turkish Statistics Authority. This accomplishment, in addition to the country’s strategic location, stable economy, and robust investment opportunities, makes Turkey an ideal location for real estate investment.

For those interested in investing in the Turkish real estate market, it’s essential to have a thorough understanding of the market’s advantages and potential drawbacks. At Move 2 Turkey we provide valuable insights into the benefits of investing in Turkish real estate in 2022, as well as how the Turkish lira crisis has affected the industry.

This article explores the advantages of real estate investment in Turkey and provides an overview of how the Turkish lira crisis has impacted the market. Additionally, we’ll take a closer look at Move 2 Turkey’s six significant benefits of investing in the Turkish real estate market, giving potential investors a comprehensive understanding of why Turkey is an excellent location to invest in real estate.

1. Increasing Returns On Investment Over Time

Investing in real estate in Turkey has become increasingly popular among international investors due to the country’s attractive tourism industry, which is at its peak during tourist seasons. This demand creates an opportunity for investors to rent out their properties and receive a good investment return.

Real estate investment is renowned for maintaining its real value, and properties in Turkey can bring annual profits through investment returns obtained through resale or leasing, which can be as high as 12% of the original property value. Moreover, long-term real estate ownership in Turkey can lead to increased returns due to the property’s appreciation in value over time, which can lead to an increase in capital.

Not to mention that investing in Turkey is also considered safe, and the continuous demand for rental properties provides a semi-fixed additional income, making it an attractive destination for investment.

However, investors must exercise caution when buying properties in Turkey, ensuring that they buy at a competitive price compared to similar properties in the area. They should also invest in the property optimally by either renting it out at a special rate or selling it for a profit.

To ensure a sound investment, it is advisable to seek professional advice from companies such as Move 2 Turkey, which provides guidance and support through all stages of real estate investment in Turkey. With their expertise, investors can make informed decisions and enjoy the benefits of investing in Turkish real estate.

2. Obtaining The Turkish citizenship

The option to obtain Turkish citizenship has made Turkey one of the most desirable countries in the world for real estate investment. Owning a property worth $400,000, whether it is an apartment, office, villa, or shop, can qualify an investor for Turkish citizenship under reduced terms. This has proven to be a strong motivator, particularly for those coming from unstable countries, to purchase real estate in Turkey, despite an increase in real estate prices.

The Turkish government has taken this matter seriously and streamlined the process for investors to acquire citizenship. As a result, many investors from Arab and neighboring countries have turned their attention to real estate investments in Turkey to reap both profit and citizenship simultaneously.

This policy has had a significant impact on the percentage of real estate purchases by foreigners in Turkey, with more than one-fifth of the investments made in 2021 being for the purpose of obtaining Turkish citizenship. Nearly 40% of these investments were made in Istanbul, further highlighting the city’s potential for growth and development.

3. The Governmental Support For Turkey’s Real Estate Sector

Real estate investment in Turkey offers numerous benefits, one of which is the special attention given to the real estate sector by the Turkish government. This is evident in the many real estate campaigns and initiatives that have been launched in recent years.

In fact, in 2017, President Recep Tayyip Erdogan issued a special appeal to revitalize real estate companies across Turkey and promote the sector through various campaigns. One of the largest campaigns included the sale of apartments throughout Turkey in convenient installments of up to 240 months.

To further encourage real estate investment, several measures were implemented. For example, some real estate companies have eliminated interest rates entirely, as directed by the President. Additionally, the advance payment required for purchasing property in installments was reduced from 25% to 20%. Foreigners and expatriates who buy real estate in Turkey have also been exempted from paying value-added tax.

Moreover, Turkish law grants foreign investors the right to obtain real estate residency for themselves, their spouse, and their children by purchasing property in Turkey. Furthermore, a decision was made on September 18, 2018, allowing foreign investors who own a property worth $400,000 to apply for Turkish citizenship. All these initiatives and incentives demonstrate the Turkish government’s commitment to promoting and facilitating real estate investment in Turkey.

4. A market full of promising and rewarding opportunities

The real estate market in Turkey offers a multitude of opportunities and options that are unique and varied. The strength and distinction of real estate in Turkey is due to the vastness of the country, the different nature and climate of its cities, and the strength of its infrastructure. All of these factors contribute to the multiplicity of real estate options available throughout the country, and the competitive pricing that makes investing in Turkish real estate a growing opportunity, from east to west and from north to south.

Whether you’re looking for commercial real estate, such as offices and shops, or residential properties, such as villas and apartments, Turkey offers a wide range of options to choose from.

One of the key advantages of investing in real estate in Turkey is the constant increase in property prices, which is mainly driven by the continuous foreign demand for properties in the country. This demand has helped to create a thriving and dynamic real estate market in Turkey, offering many opportunities for investors and buyers alike.

5. Property prices in Turkey are cheaper compared to Europe

Investing in real estate in Turkey is a smart decision for those looking for affordable prices without compromising on quality. The Turkish real estate market boasts a diverse range of properties to suit every budget and preference.

In addition, Turkey’s strategic location and modern infrastructure make it an attractive destination for investment, with many facilities and incentives to support the growth of the real estate sector.

Moreover, Turkey’s unique blend of culture, history, and natural beauty is another compelling reason to consider investing in its real estate market. The country enjoys a Mediterranean climate, a booming economy, and a vibrant tourism industry. With so much to offer, Turkey is a profitable and ideal option for those seeking to invest and live in a beautiful and promising country.

6. Tax advantages for foreign investors

The Turkish government values foreign investment and strives to facilitate investment opportunities by providing various incentives. One such incentive is the exemption of value-added tax (VAT) for foreign investors who do not reside in Turkey.

Typically, VAT in Turkey ranges between 1% to 18% of the property’s sale price. However, foreign investors can take advantage of the tax exemption, leading to significant savings when investing in real estate in Turkey. This tax exemption is an effective tool used by the government to revitalize the local economy and attract more foreign investments.

The government has made several decisions that specifically target the real estate sector, which have positively impacted foreign investors’ motivation to acquire more property. These decisions have helped stimulate growth in the real estate market and contribute to its overall revival. With such facilities and incentives, investing in real estate in Turkey can prove to be a lucrative opportunity for foreign investors.

Can real estate investment in Turkey withstand inflation?

When it comes to inflation’s impact on real estate investment in Turkey, it can have adverse effects on the local consumer price index, which is reliant on the Turkish domestic market. However, foreign investors dealing with currencies other than the Turkish lira may not be as affected by inflation’s high rate when purchasing or renting real estate in Turkey.

In some cases, high inflation may even be beneficial to them as it could result in buying and renting real estate at a lower cost compared to their foreign currencies.

How have investors in the real estate sector been affected by the Turkish lira crisis?

Despite the decline in the value of the Turkish lira, experts believe that it does not necessarily indicate a weak economy as the Turkish economy is based on three main sectors: industry, trade, and real estate.

These sectors have demonstrated robust performance in their respective indicators, particularly the Turkish industry, which exports to 126 countries worldwide and has recorded $200 billion annually in the latest official statistics. 

As a result, the decline in the Turkish lira’s value has not hindered the rising real estate prices due to the surge in foreign investor demand, taking advantage of the currency depreciation. This increase in demand reduces supply, which leads to a surge in prices, boosting the Turkish real estate market’s ability to maintain its market values.

In conclusion, Turkey’s real estate market has experienced significant growth over the years, with the country selling a staggering 1.5 million properties in 2021 alone, topping all other European countries. The country’s strategic location, stable economy, and robust investment opportunities make it an ideal location for real estate investment.

The advantages of real estate investment in Turkey include increasing returns on investment over time, the option to obtain Turkish citizenship, government support for the real estate sector, a market full of promising and rewarding opportunities, and competitive pricing.

The Turkish real estate market has a multitude of options for commercial and residential properties and is an excellent destination for investment. Investors should seek professional advice from companies like Move 2 Turkey to ensure a sound investment and make informed decisions.

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Foreigners can own real estate in Turkey, as long as it is located in urban areas that fall under the jurisdiction of a municipality or borough, and not in rural or military restricted areas.

To acquire the title deed of a property in Turkey, an application must be submitted to the local Land Registry Office where the property is located.

The title deed (TAPU) transfer will be processed by the Land Registry Office after completing necessary checks and requirements.

During the transaction, documents proving the full purchase price has been transferred into Turkey must be presented, and a 1.5% duty tax must be paid by both the buyer and seller.

Additionally, an annual property tax of 0.3% is collected by municipalities for private buildings.

However, newly built properties are exempt from this tax for 5 years. All properties are subject to revaluation for tax purposes every five years.

The purchased property can be resold or rented out, and the proceeds can be transferred out of Turkey, but regulations for properties purchased for business-related purposes may differ.

Laws and regulations for buying real estate in Turkey.

Turkey is increasingly attracting tourists due to its vast untouched coastline and Mediterranean climate that provides year-round sunshine.

Purchasing real estate in Turkey is also gaining popularity as a potential investment opportunity given Turkey’s potential EU membership and its status as one of the world’s fastest-growing emerging markets.

This information provides a general overview of the process of buying a property in Turkey according to Turkish Laws (Article 35 of the Turkish Constitution) and potential issues that may arise during the process.

It’s important to note that different properties have different laws (depending on location).

To avoid disappointment and ensure a smooth process, it is recommended to consult one of our property experts at Move 2 Turkey.

Keep in mind that buying property in Turkey can be complicated, and it’s essential to seek professional and knowledgeable service.

Turkish Property Legislation

Ownership rights are outlined in Article 35 of the Turkish Constitution, which states that individuals have the right to ownership and these rights can only be restricted by other legal regulations.

These restrictions can include zoning laws and restrictions for foreign ownership.

The laws surrounding property ownership are further detailed in the Turkish Civil Code, Article 633, which explains how ownership is obtained.

For foreign individuals purchasing property in Turkey, it is crucial to register the land in Turkey, the Land Registry Department has regional directorates that are divided into provincial or district offices and are controlled by the government.

Property Registration and Delivery in Turkey

In many European countries, the process of transferring property ownership from the seller to the buyer involves going to a public notary.

The public notary is responsible for ensuring that the transfer is done correctly, and also for handling the delivery of the property, which is often done via a “deed of transfer” and registration in the property registry.

Unlike other European countries, registering property ownership in Turkey is not handled by a public notary, but by an official of the Property Registry Department.

Both the buyer and the seller are required by law to be present during the registration process.

It is possible to authorize another person to handle the registration, but this requires a notarized authorization.

As a safety measure, it is also recommended to authorize the sale through an official notary.

In Turkey, the delivery of the “Title Deed” does not require the involvement of a public notary. The only requirement for delivery is that it is done in writing.

After the registration and delivery, the Property Registry Department issues a proof of ownership, known as a “Tapu.”

Ownership is only officially obtained once the construction of the building(s) is complete and the full amount has been paid.

Generally, there are no legal restrictions for foreigners to acquire property ownership in Turkey.

However, the Village Act and Military Prohibited and Security Areas regulations can be a limitation to the acquisition of properties by foreigners.

According to Article 87 of the Village Act, foreigners are not allowed to own property outside of the center of a village if the land hasn’t been surveyed yet or it belongs to the Ministry of Forest.

Similarly, the act regarding Military Prohibited and Security Areas can restrict the acquisition of property by foreigners if the property is located within a certain distance from military sites or strategically important areas.

The legal restrictions mentioned above may be subject to change or even be partially lifted by recent legislation that aims to improve Turkey’s economic position, align regulations and laws with EU standards, or promote tourism for foreigners.

Final words

Buying property in Turkey involves following a range of regulations. Not only do formal regulations need to be considered, but foreign buyers must also be aware of the various legal exceptions that apply to acquiring real estate.

When buying property in Turkey, it is important to approach the zoning schemes, the background of the seller, and the legal restrictions imposed by Turkish property legislation objectively, dependably, and with professional guidance.

Move 2 Turkey provides valuable assistance and conducts objective and thorough investigations on the property that you are interested in.

Our knowledgeable staff is available to assist you. Contact us via WhatsApp, email, or in person for more information.

Tax information for buying a property in Turkey

Non-Residents

Non-residents are only taxed on income generated from Turkish sources in Turkey and are subject to a number of other property-related taxes as outlined below.

The tax year in Turkey is the calendar year, and an individual is considered a resident in Turkey if they spend 183 days or more in any tax year in Turkey.

There is an agreement between the United Kingdom and Turkey for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and capital gains.

However, at present, Ireland and Turkey have not signed a dual taxation agreement, but one is expected in the near future.

This will affect the tax implications on income received from Turkish property.

payable taxes when purchasing a property in Turkey

Both the buyer and seller in Turkey are required to pay 1.5% title deed transfer fees on the sale of a property, which totals 3% based on the declared value of the property.

However, the declared value of the property cannot be lower than the “tax value” determined by the local town hall, which is also used as the base for property tax.

Additionally, 1.5% is also payable on the registration of new buildings constructed on land.

The VAT rate in Turkey for the sale of property is 18%, but houses under 150 square meters in net area are subject to 1% VAT.

If a property is owned by a company in Turkey, selling it after holding it for 730 days (2 full years) may not be subject to VAT and corporate tax, subject to other conditions.

Stamp duty is also levied on sale and lease contracts in Turkey, with rates ranging from 0.15% – 0.75% depending on the value of the contract.

Recurring property taxes in Turkey include:

Rental income for non-residents in Turkey is taxed at scaled rates from 15% – 35%.

Expenses directly related to renting the property, such as repairs and management fees, are tax-deductible.

There is also an option to use a lump-sum expense method, which allows taxpayers to deduct 25% of gross income as expenses without providing documentation.

Tax is collected through a withholding tax, and if a double taxation agreement (DTA) is in effect, reduced rates of withholding tax may apply.

A Turkish tax return must be filed by March 25th, with taxes payable in two equal payments in March and July.

Local Turkish property taxes are payable in two equal installments in May and November.

Rates are calculated based on the value of the property and are subject to thresholds set by the Tax Authorities as follows:

• Residences: 0.1%
• Other buildings: 0.2%
• Land: 0.1%
• Farming land: 0%
• Vacant land (allocated for construction purposes): 0.3%

Other relevant taxes

Capital Gains Tax (CGT) on the sale of property in Turkey is considered income for the year of assessment and is taxed at the marginal rate of 15% – 35%. A capital gain of up to TRY 6,800 in 2008 is exempt from CGT.

Information on the disposal must be submitted within 15 days of the sale. Properties owned after January 1st 2007 and held for more than 5 years are exempt from Turkish CGT.

Inheritance Tax (IHT) rates in Turkey range from 1% – 30%. Tax on inherited property is calculated based on the taxable value of the asset.

The law of obtaining the Turkish citizenship through buying a property in Turkey

In accordance with the amendment to the Turkish Citizenship Law published in the Official Gazette in June 2022, a new convenience has been provided for foreigners who want to become Turkish citizens.

Foreigners who want to buy a property under construction may also obtain Turkish citizenship after signing a regulating contract from the notary for the property sale and committing to buy a property worth 400,000 USD.

Turkish Citizenship by Property Purchase in Turkey

In June 2022, new regulations were added to make it easier for foreigners to obtain Turkish citizenship.

These regulations state that foreigners who sign a contract with a notary for the purchase of a property worth 400,000 USD and commit to pay for it in cash, may qualify for Turkish citizenship.

The notarized contract pledging that the property sale is made by cash payment and committing to not transfer or abandon the contract for three years is sufficient.

Additionally, foreigners who buy a property from unfinished or off-plan projects may also apply for citizenship under these new regulations.

Eligibility for Turkish citizenship through the commitment of property purchase is subject to the following conditions:

• The commitment to purchase a property worth at least 400,000 USD.
• The property commitment must be organized by a notary.
• The notarized contract should state that the committed property will not be sold for 3 years.
• The property purchase commitment is also valid for properties under construction or off-plan projects.

Conclusion

When considering purchasing property in Turkey, it is important to be aware of the legal matters that may arise during the process.

There are various laws and regulations that apply to different types of properties, and it is essential to have a clear understanding of these in order to avoid any potential issues.

Some of the key legal matters to consider include zoning schemes, restrictions imposed on foreigners, and taxes and fees related to the sale of property.

It is also important to consult with a knowledgeable and professional real estate agent or attorney to ensure that all necessary steps are taken and that the property is properly registered and transferred to the new owner.

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Buying real estate in Turkey, whether for investment or residence, can be a savvy and rewarding decision.

At Move 2 Turkey, we boast a highly skilled and competent team that will guide you through every step of the process, addressing all of your inquiries and catering to your specific needs.

Our daily mission is to provide a transparent and exceptional customer experience for our clients. To achieve this, we provide the original project names and the exact location through an interactive Google map, as well as builder information and past performance.

This information should be widely available in the market, but it is often lacking. We urge you to ask questions and scrutinize any listings that seem inflated or fabricated. This is the only way to ensure a transparent experience.

Furthermore, we assist you in negotiating for the best price, ensuring that you receive the best deal possible. Your satisfaction is our top priority!

In light of the current exchange rate, individuals holding Euro, GBP, and USD can enjoy significant savings compared to recent months.

1- Know your purpose

Before embarking on the journey of Buying property in Turkey, it is essential to determine your purpose for the purchase.

This could be for investment, personal use or a combination of both. Once you have established your purpose, it is important to understand the terms of payment and the time frames in which payment must be made.

This information will help you decide whether a cash payment or installment plan is the most suitable option for you.

The terms of payment will be clearly outlined and communicated to you throughout the inquiry, negotiation, reservation, and final payment stages and will be documented for your safety and security.

Please keep in mind that during the reservation process, a 1% deposit is required but is fully refundable within 14 days.

2- Choose the right area

A crucial aspect of making a successful property purchase is understanding the location of the property you’re interested in.

Move 2 Turkey provides you with an area guide, detailing the proximity of amenities to the property, and an interactive map to give you a clear idea of its location.

It’s important to research prices of properties in the surrounding area to identify the best deal on the property you wish to buy.

It’s also important to be familiar with the history and development of the neighborhood you are considering buying in, as it can be an indicator of the area’s potential growth in the next 5 to 10 years.

Keep in mind that location is a major factor in real estate investments.

In addition to that, being aware of the future improvements in town, like infrastructure regeneration, new metro stations, parks, shopping and educational institutions can help you make better investment or personal livability decisions.

Real estates in designated regeneration areas also tend to have better potential for capital appreciation.

3- Knowing the additional costs

When buying a property in Turkey, it’s important to be aware of all the additional expenses that come with it, beyond the cost of the property itself.

These expenses may include one-time payments such as stamp duty and VAT, as well as ongoing costs such as utility accounts, natural disaster insurance, and regular expenses like maintenance and property taxes.

Make sure to factor these costs into your budget and consider them before making a decision.

4- Choose the right construction company

At Move 2 Turkey, we only work with reputable construction companies that have a proven track record of success.

You may not find some of the biggest names in the Turkish market, as size doesn’t always equal quality, particularly when it comes to agencies and developers in Turkey.

This industry is heavily driven by marketing, but the ability to “build” a brand doesn’t necessarily indicate a positive outcome for the buyer during the purchasing process.

We only recommend companies who have a history of delivering on-time and maintaining high standards of quality.

Our in-house legal team conducts routine reviews of permits and building licenses to ensure that the projects we recommend have been carried out in compliance with all legal regulations.

When we assure that a developer or project is trustworthy, we stand by that claim.

5- Legal Actions

If you are unable to be present in Turkey during the payment process for your property, it is necessary to grant a Power of Attorney (POA) to a lawyer who will represent you throughout the process.

If you plan to become a Turkish citizen through the Citizenship by Investment program, it is mandatory to have a POA in order for the legal team to submit the application on your behalf.

The POA also covers title deed registration, submission of residency and citizenship applications for the buyer and any family members included, as well as ordering an evaluation report.

POA can be obtained at Turkish embassies worldwide or at a notary public office in Turkey prior to leaving the country.

Move 2 Turkey offers legal services to guide you through the POA process and help you determine the most suitable legal strategy for you and your family.

6- Determining the best payment plan

For some buyers, a payment plan may be a more viable option, depending on their individual circumstances.

Payment plans can be a convenient option, however it’s important to fully understand the terms and timeline for payments.

Maintaining a good relationship with the construction company is crucial, and that is dependent on timely payments and adherence to the agreed upon terms.

Additionally, cash payments often come with discounts, but that doesn’t mean there isn’t room for negotiation on the amount of the down-payment or length of payment conditions.

Lastly, it’s important to be aware of the penalty terms in case of any unforeseen circumstance where payments can no longer be made.

7- Choose a property that has the biggest benefit

When discussing investment options with an advisor, it’s important to understand key financial concepts such as return on investment (ROI), Net Present Value (NPV), and Internal Rate of Return (IRR).

ROI refers to the annual rental returns and the percentage earned, and Capital Growth is the growth in value over the maturity period of the ownership.

These are basic interpretations, but they highlight the importance of being familiar with commonly used terminology in real estate investments.

It’s important to remember that every buyer has different expectations and goals when it comes to ROI and Capital Growth.

Understanding your own preferences is key to allowing your advisor to properly guide and assist you.

Some buyers may prioritize higher monthly income with lower capital growth, while others may be more interested in realizing a higher value upon selling and not concerned with renting out the property. 

There isn’t a right or wrong strategy, but clear communication is crucial.

8- Buying property online

In the past, physically inspecting a property before making a purchase was a common practice, however, due to the COVID-19 pandemic, online buying has become a preferred and necessary option.

Move 2 Turkey has a proven track record of successfully selling properties online.

Customers from all over the world are now choosing to buy properties online, thanks to the seamless process offered by the Companies sales team.

We provide online viewings, video conferencing negotiations, and access to our in-house legal team to guide you through every step of the process.

However, for those who still prefer to view the property in person, our team will be ready to take you to view various options at pre-identified locations, following all the necessary local health protocols and precautions.

9- Choose a reputable real estate agency

It’s important to steer clear of agencies that limit your options or pressure you into making a quick decision on a single project they claim is the best fit for you.

Choose to work with agencies that take the time to understand your needs, interests, and goals.

A good advisor will provide you with information on the neighborhoods, demographics, and realistic rental value, as well as the project name, exact location, catalogs, brochures and real images, including off-plan projects.

Agencies that fail to provide this basic information should be approached with caution.

Look for a buyer’s agent, who can act on your behalf and find the best solution in the market for you.

At Move 2 Turkey, we are dedicated to breaking down these barriers and providing our clients with the best buying experience. Our track record speaks for itself, but the best way to find out is to experience it for yourself.

10- Visiting the project in person

It’s important to visit the construction sites to assess the progress and quality of the work.

Inquire about the length of time the construction has been ongoing and when it’s expected to be completed, and compare it to other projects in the area.

Verify that there are no undisclosed reasons for any delays with your advisor.

If the project is already completed, find out how long ago it was finished and how many units are still available for purchase.

It’s worth considering if there are any potential issues for why a large number of units remain unsold in older projects.

Consider the services and amenities offered by each project and understand the associated costs.

Not all projects have swimming pools, gyms, or indoor parking facilities, so if these are important to you, let your advisor know so they can eliminate options that don’t meet your requirements.

Despite a large stock of available properties in Istanbul, developers continue to build new projects at a fast pace.

It’s worth considering both off-plan and completed options, and take time to compare prices, as there are certainly good deals to be found.

11- Study your options carefully

Ask your advisor for their own analysis of the properties you are interested in.

They should be able to provide you with a clear understanding of the project’s growth potential, investment quality, construction quality, livability, and how well it aligns with your specific requirements.

If an advisor or agency is unable to provide this information, it’s not doing you a favor.

If you are unsure, don’t hesitate to ask to speak with a supervisor or director.

Once you receive the advisor’s analysis, conduct your own research and comparison.

Focus on 3-4 options that you believe are the most suitable, rather than considering multiple options at once, as it can lead to confusion and mistrust.

Wait until you arrive and view the options in person before making a decision, rather than relying on information or guidance that could be misleading.

It’s your right to see multiple options, so make sure you exercise that right and consider all options available to you.

In conclusion, buying property in Turkey can be a great move for those looking for an investment or a new home.

It’s important to work with reputable agencies and advisors who understand your needs and goals, and can provide you with all the necessary information about the property, location, and surrounding neighborhoods.

Before making a decision, be sure to visit the construction site, compare prices, and have a clear understanding of the terms and timeline of payments.

Additionally, be aware of any additional expenses that come with the purchase, such as stamp duty and value-added tax.

It’s important to have a clear idea of your investment goals and whether you prefer higher monthly income or capital growth.

It’s also important to have an understanding of the legal aspect, such as power of attorney and paperwork.

With the right knowledge and guidance, buying property in Turkey can be a smart and profitable move.

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Last year, 1,492,000 homes were sold in Turkey, about 4% of which were sold to foreigners.

According to the Turkish Statistical Center, a total of 1.492 million homes were sold in Turkey in 2021, and the amount of homes purchased by foreigners last year increased by 43.5% compared to the previous year.

The share of home sales to foreigners in total home sales last year was 3.9 percent.

Meanwhile, Istanbul occupied the first place with the sale of 26 thousand and 469 housing units, followed by Antalya with 12 thousand and 384 units, and Ankara with the sale of 3 thousand 672 units.

Iranians ranked first in Turkish housing purchases in 2021, buying 10,056 housing units, followed by Iraqis with 8,661 and Russians with 5,379.

In December 2021, the Iranians bought 1,462 housing units, the Iraqis 1039 units, and the Russians 885 housing units in Turkey.

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In order to ease the financial burden of earthquakes after the Great Istanbul earthquake in 1999, Compulsory Earthquake Insurance (DASK) was implemented in Turkey.

What is DASK earthquake insurance?

It is a type of insurance created to cover damages caused by earthquakes and protect against physical damages such as landslides, tsunamis and fires caused by earthquakes within the limits specified in the insurance policy.

This insurance stands for Natural Disaster Insurance Corporation (DASK).

DASK earthquake insurance cost in Turkey

The rates for compulsory DASC earthquake insurance, which are re-set each year, vary depending on the size of the insurance companies, real estate and coverage offered by the insurance.

Compulsory earthquake insurance premiums are also collected from DASK at low rates for properties located in earthquake-prone areas.

This is due to the nature of these cities and the average price of real estate in Turkey.

It can be said that the cost of DASC earthquake insurance for a house of 100 square meters in a state such as Istanbul or Izmir is between 270 – 350 TL.

While this cost decreases in states with low earthquake risk such as Artvin, Kayseri and others..

Is DASC earthquake insurance mandatory?

Yes, having DASC earthquake insurance is mandatory. It is one of the documents required to obtain the title deed of real estate (Tapu) during the sale or purchase of real estate in Turkey.

Transfer and sale of real estate is not permitted without this insurance.

For this reason, mandatory DASC earthquake insurance must be obtained before applying for a title deed.

For properties damaged during the earthquake, the coverage amount specified under the insurance policy will be paid to the rights holders and their complaints will be resolved.

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Recently, there has been a significant increase in apartment prices in Turkey.

Foreigners wishing to buy a house in Turkey should know that the purchase is not only made by paying the price of the property only, as there are additional costs (not large) that must be paid to complete the purchase process perfectly.

So what are the costs to pay when buying a home?

Real estate consultant cost:

If the home was purchased in Turkey through a real estate agent, the cost of real estate consultancy services must be paid.

The cost of services received by real estate consultants is determined within the scope of the regulations on real estate trade.

Accordingly, real estate consultants can charge a service cost of 2% + VAT (18%) from the seller and buyer.

However, most often, by negotiating these amounts, it can be paid in smaller amounts.

(Keep in mind that we at Move 2 Turkey do not charge any commission from people wishing to buy a property in Turkey)

Earthquake insurance (DASK):

One of the costs of buying a home in Turkey is compulsory earthquake insurance (DASK).

This insurance is required to document the title deed transfer transactions (Tapu).

DASK insurance policies should also be used when selling the house again by the new owner.

Capital Turnover:

During the process of buying a home in Turkey, the cost of the revolving fund is required to be paid by citizens.

The amount of the Tapu Fund is determined annually by the relevant institutions.

Citizens pay this fee to the Land Registry during the title deed transfer process.

As of 2022, the price of the revolving fund was 385 TL.

Property tax:

Although it is not paid outright when buying a home, one of the expenses that must be paid is property tax. It is a tax that is paid in two installments each year.

The cost of transferring the title deed (Tabu):

Another cost that those who want to buy a house in Turkey incur in house relocation transactions is the cost of the title deed.

As per 2022, the cost of transferring the title deed is 4% of the sale price.

This amount is divided equally between the buyer and seller, i.e. 2% and 2%.

Reconstruction, environmental cleaning tax, utility subscription costs:

If the purchased home is not new, there may be situations that require renovation in that home.

Which may create an additional cost for reconstruction.

The environmental clean-up tax, also known as the waste tax, is paid annually to homes.

Finally, subscriptions must be started to connect electricity, water and natural gas to the house.

A small special deposit is required for all these subscriptions.

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In recent years, the numerous benefits of living in Turkey and social welfare and security facilities in this country have prompted many foreigners to buy a home in Turkey.

If you are planning to emigrate, invest in buying a house in Turkey, you should first know the types of houses in Turkey.

Because Turkey is a mixture of tradition and modernity, you will find a wide range of houses that may confuse buyers and investors.

Follow us to introduce you to the types of houses in Turkey and features of each of them.

Types of houses in Turkey

The types of homes in Turkey can be divided into 4 general categories, which include apartments, regular properties, apartment complexes, detached houses and villas.

Among each of these types, there are ready-made properties and properties under construction available to buyers and investors.

In the previous articles, we talked in detail about whether it is better to buy a ready to move property in Turkey or buy a property under construction, which you can refer to to learn about the advantages and disadvantages of each investment.

1- Residential Apartments

Apartments in Turkey are suitable for all buyers due to the variety of prices, spaces and designs suitable for different lifestyles.

Apartments may be separate buildings or in apartment complexes.

Usually, luxury apartments in Turkey are built according to the latest advanced technologies.

Smart apartments in Turkey also include a variety of luxury units such as penthouses, duplexes and triplexes with modern entertainment systems, and stunning designs in terms of interior or exterior architecture.

Standard Apartments

Buildings of standard apartments usually consist of 4 or 5 floors, located in different parts of the city, whether old or newly built apartments.

Standard apartments can be found at different prices, and the price depends on the area of the apartment.

Standard apartments are the most popular type of house in Turkey among Turkish citizens, but immigrants may not be very interested in this type of housing.

This is because these types of apartments do not have green spaces or amenities such as central heating and security, and the rent for this type of apartment is usually very low and cheap.

Penthouse apartments

This type of modern apartment in Turkey is located on the top floor of large buildings or so-called skyscrapers, penthouse apartments like villas, private and independent.

This type of apartment occupies the entire upper floor and often has glass walls that provide a panoramic view of the entire city.

It also has a private car park and a private lift independent of the lifts on the other floors.

Duplex apartments

As the name suggests, duplex apartments are two complete apartments on top of each other and connected by an internal staircase, each apartment consisting of a bedroom, a living room and a bathroom.

Usually the first floor of these apartments is dedicated to the kitchen and living room, and the second floor is dedicated to the bedroom and bathroom.

Triplex apartments

Triple apartments consist of three floors connected by internal stairs. The apartments are usually built where the first floor includes the kitchen and living room, the second floor includes the bedrooms and bathrooms, and the third floor can be used as a private office or home gym.

Studio apartments

The studio apartments consist of a room that has a bed with a wardrobe and the other part is used as a living room and kitchen.

Usually these types of apartments are suitable for single young people who have migrated to Turkey for work or study and are looking for cheap and small apartments.

2- Typical apartments

Typical apartments are more popular with immigrants than standard apartments because they often have more amenities.

But keep in mind that Typical apartments are more expensive compared to regular apartments and have higher monthly fees.

These apartments are usually located in an area of several thousand meters and are protected by a central security, as this type of housing can be said to be one of the safest types in Turkey.

3- Apartments within residential towers

In recent years, the construction of towers in Turkey has increased significantly, and these apartment complexes were the first choice for many foreigners who immigrated to Turkey.

There are a variety of facilities in the residential towers, including sports complexes, swimming pools, saunas, and in some cases a restaurant and a children’s playground.

The other main feature of this type of housing is the extensive green spaces and central security.

It is worth noting that in addition to central security, each tower or apartment building usually has a separate guard who monitors the movement of the building.

Most of the towers are equipped with a central ventilation system, which is why the monthly fee is higher compared to other types of houses in Turkey.

Because of the facilities of these multiple residential complexes, their prices are high, however various factors such as the area and year of construction can affect the price of the housing units.

4- Detached houses and villas

Detached houses and villas in Turkey are among the most expensive types of housing in the country and are the primary choice for many real estate investors in Turkey.

Many of the world’s wealthy want to buy villas in Turkey, which are usually very expensive. The prices of villas in Turkey vary according to the region, location and engineering design.

The villas are independent and large and contain spacious gardens, private swimming pools and a private garage for cars, and some of these villas overlook nature and tourist areas.

Due to the security facilities of the real estate, the villas in the residential complexes are more suitable for immigrants or those who do not reside permanently in Turkey.

Standard villas

This type of villas are found in many neighborhoods of different cities in Turkey, especially in areas far from the important tourist centers, and some are located in the suburbs.

These villas have a large area and are surrounded by large green spaces.

Tourist villas

It is very similar to regular villas in terms of space and design, but differs in terms of landscaping.

Tourist villas usually have a view of beaches or tourist and historical sites, so their prices are higher compared to regular villas.

Villa with a private beach for sale in Istanbul…

Historical palaces

Historic villas or the so-called historical palaces, the most famous of which are the Ottoman palaces on the Bosphorus in Istanbul, are known as one of the most expensive types of homes in Turkey, and are often bought by Turkish investors and wealthy foreigners.

It is often a very large area surrounded by gardens and has wooden decorations running along the corners, and the central room of the house has a vaulted ceiling and a row of small windows, these windows help to cool the house.

These villas are usually located along the sea, and many of them were originally built as summer residences in the Ottoman era.

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The Turkish government has put in place special laws to protect foreign investors and real estate buyers so that foreigners can buy real estate in Turkey without being subject to fraud.

Due to the rapid growth of the Turkish economy in recent years, the industry and commerce in Turkey are highly developed, which is why buying a house or apartment in Turkey is one of the best and successful investment methods.

But many people are afraid of buying an apartment with the increasing number of fraudulent reports about buying real estate in Turkey, which is mostly due to lack of information.

In this article, we will introduce you to fraud methods in the process of buying real estate in Turkey and provide you with solutions to prevent it, stay with us.

The most common fraud in buying real estate in Turkey

Turkey is a good destination for both living, working and investment due to its geographical and commercial location, climate, quality of education and level of luxury.

Therefore, the immigration of foreigners to Turkey has recently increased, and when the demand for something increases, some usually think of taking advantage of the situation and deceiving people.

For this reason, real estate fraud in Turkey is one of the most important issues facing immigrants and foreign investors in Turkey.

You must have heard about the stories of selling the property to several people, either that the property does not match the features mentioned about it or giving false documents from the property owner.

Cheap Properties

With the intention of deceiving investors, real estate frauds in Turkey usually emphasize the very cheap price of the property with the possibility of obtaining Turkish citizenship by purchasing it.

You must first note that there must be a reasonable reason why the property is cheap, otherwise what is the reason for selling the property to you cheaply?

You should also know that there is no real estate sold cheaply in Turkey and that the prices of all houses, apartments and shops in this country are determined under the supervision of the competent authorities.

Recently, property inspection reports have become mandatory, and when buying and selling a property in Turkey, you must evaluate the property so that prices are determined based on the actual value of the property.

It is true that real estate prices in Turkey are cheaper than in European countries, but never be deceived by buying very cheap real estate in Turkey, as a cheap house in Turkey may have taxes or debts to the government, if you do not know about them, you may face many problems later.

High-priced real estate

On the contrary, by advertising exorbitant and astronomical prices for real estate, scammers urge customers to believe that by paying large sums, they can definitely buy real estate in Turkey and get residence in this country.

Obtaining A Citizenship

Another important point that deceptive real estate sellers exploit from investors is to obtain Turkish citizenship.

Note that the condition for obtaining citizenship in Turkey by investing in real estate in Turkey is that the property value should be at least 250 thousand dollars.

Otherwise, you will get a one-year renewable property residency, not citizenship.

So don’t be fooled by the intense marketing of selling homes equipped with a variety of amenities at low prices, as some of these scammers intend to lure middle-class foreign investors.

Fake Real Estate Photos

Luxurious homes, beautiful landscapes and pictures of luxury buildings offered by real estate brokers in this country are not necessarily real. And may not be close to the property they want to sell to you and are just a show to attract investment.

For this reason it is recommended not to enter into any remote transaction and make sure to evaluate the property closely.

Travel and Tourism Agencies

Another common scam in buying real estate in Turkey is travel and tourism agencies, who present themselves as real estate brokers in Turkey and pledge to obtain accommodation and citizenship for clients.

These companies charge money to act as an intermediary for the client and may charge them additional fees to buy a house in Turkey, unfortunately this perspective often causes us to feel confused when it comes to travel agencies.

The very deceiving thing about these companies is that they have comprehensive information about Turkey and its different regions and accordingly they can deceive the customers.

Companies Outside Turkey

There is another group of companies and organizations that are based outside Turkey and are trying to deceive people into buying real estate in Turkey with different advertisements.

The point to bear in mind is that companies operating in Turkey need to be licensed by the Turkish government to conduct their business.

If the company is outside Turkey, it works in Turkey through real estate brokers for its clients and they do not have any license from the Turkish government.

This is why, even if the company is not a fraud, buying real estate from these companies still carries great risks.

Money Transfer

Finally, there is the issue of transferring capital to Turkey. In the process of buying real estate in this country, there have been numerous reports of money laundering scams in Turkey over the years.

DO NOT go to unreliable and unknown institutions to transfer your money in any way, and be sure to do it through bank transfer or the services of a reputable exchange office so that your money can be transferred to Turkey in complete safety.

How to avoid real estate fraud in Turkey?

• Before taking any action or decision, be sure to see the property in person and ask for expert opinion on it.
• Avoid buying a property without research and experience and benefit from expert advice especially if you are not familiar with the Turkish language.
• If you go to a local Turkish real estate consultant to rent or buy a property, make sure they have a specific office and location and a business license.
• Remember that a contract to purchase the property must be prepared in the presence of the owner and a valid ID, but the purchase will not be completed before the transfer of ownership (Tapu), so when signing the contract, pay only a percentage of the purchase price of the house, and settle the rest at the notary after the transfer of ownership.
• Before signing any contract, read all the clauses mentioned in it. If you are not fluent in Turkish, make sure that you have a reliable translator with you. Another important point when choosing a translator is that he should have relative knowledge of the conditions of buying a property in Turkey.
• The notary office and municipal authorities inquire about the property to ensure that the property does not have tax obligations or loans. Note that some properties in Turkey cannot be legally transferred to foreign nationals, so you should consult the TAPU office before purchasing a property.
• Do not pay money to brokers other than the construction company and the original owner of the property under any circumstances, as some brokers sell real estate without having a specific workplace, trade license and work permit.
• Remember that all documents must be registered at the official registration offices approved by the Turkish government, and only then will the documents be signed and registered, and the ownership is transferred.
• If you are planning to buy a property in different regions in Turkey, get enough information about the regions, get to know them, discover the characteristics of each region, and the real estate prices in them, then with any real estate company or consultant you want to negotiate with.
• If you have any problems, you can contact the Turkish Immigration Office, the contact number of the Immigration Office is 00903121571122 if you are outside Turkey, and if you want to contact the office from within Turkey just call 157.
• Finally, keep in mind that information is the most important obstacle to exposure to fraudulent real estate purchases in Turkey, if you have complete information about buying and investing in Turkey, know the region well and have sufficient information about real estate, are familiar with immigration rules and obtain Turkish residency, you can avoid Fraud in buying real estate in Turkey.

If you are planning to buy a house or apartment in Turkey, you can contact our real estate consultants to get the best possible offer and advice.

We will accompany you during the process of buying a property in Turkey, until you get Turkish residency or citizenship.

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Buying real estate in Turkey has boomed in recent years, as the Turkish government has provided new and distinctive facilities for buying real estate in Turkey.

And you should know that buying a property in Turkey also has its own rules that you should be aware of these terms and conditions before doing so, and we also suggest consulting a lawyer or an agent with experience in this field.

In this article we will explain these terms and conditions. We will also explain how to obtain a residence permit in Turkey by buying a property in Turkey.

Buying real estate in Turkey and the Turkish economy

Turkey is one of the fastest growing countries in the Middle East, and despite its rich history, culture and unique nature, it has become a distinguished destination for many foreign investors.

Of course you should know that there are some restrictions on this, such as buying a property in and around rural areas, but this is not a problem that will confuse investors, because most of these people are buying in central areas with high investment value.

You should know that by buying a property in Turkey or renting a property in Turkey, you can apply for a residence permit in Turkey.

Buying a property in Turkey and obtaining a Turksih citizenship

Buying a property or several properties in Turkey worth 250 thousand dollars enables you to obtain Turkish citizenship, and this type of investment is considered one of the best types of real estate investment in Turkey.

Of course, this is not the only way to buy a property in Turkey, as by buying a property in Turkey (whatever the value of the property) you can obtain a residence permit in Turkey for yourself and your family, which is renewed every year.

It should be noted that residing for five years in Turkey enables you to obtain Turkish citizenship, keep in mind that in these five years you are only allowed to live outside Turkey for one year, otherwise this law does not apply to you.

Foreigners who buy real estate in Turkey can obtain a residence permit in Turkey, provided that it is extended for certain periods, and they are also entitled to obtain a residence permit for their families.

With this residence permit, foreign children can study in Turkey.

It is very easy for foreigners who have a residence permit in Turkey to find a job, and it is also easier for them to obtain a work permit through law firms in Turkey.

Read more about finding a job in Turkey here.

Is it possible to obtain a residence permit in Turkey by renting a property in Turkey?

People who rent a property in Turkey should know that they are granted a one-year tourist residence, which means that with this type of residence you are not entitled to study or work.

If you want to work or study in Turkey, you must obtain a work or student residence permit.

Also in the past, you could have been residing in Turkey for five years with an annual extension of your tourist residence, but according to the rules for buying new real estate in Turkey 2020, this is no longer possible and you will get only one year of Turkish tourist residence and it can only be extended after the passage of a year on the last day of your tourist stay.

What is the minimum capital required to buy a property in Turkey?

You should know that there are no legal restrictions on real estate investment in Turkey, but you need to know at least the amount of capital required to buy a property in Turkey, the price of a house in Turkey depends on many aspects, including the area, the project and the age of the building.

But in general, it can be said that the price per square meter in Turkey (within a residential complex) ranges between $1,000 and $5,000, and you can buy an ordinary and small house (from 50 meters) up to $60,000 or $70,000 and above.

Is it profitable to buy a property in Turkey?

To answer this question, we refer to the official statistics about the purchase of real estate in Turkey.

According to the World Investment Report (UNA) in 2020, Turkey was the second largest recipient of foreign direct investment or foreign investment in Asia.

Where the volume of direct capital inflow by foreign investors in 2018 amounted to 12.94 billion US dollars, while the volume of capital inflows by foreign investors one year earlier, exactly in 2017, was 11.48 billion US dollars.

Some EU countries have always been the biggest investors in Turkey.

It is interesting to know that the USA is the second largest investor in Turkey after the Netherlands.

Dutch investment in Turkey accounts for 15.8% of the total foreign investment.

The United States at 7.6% and the United Kingdom at 6.9% are the largest investors in Turkey, according to preliminary data from the Turkish Ministry of Industry and Technology.

In order to facilitate the acceptance of foreign investors, Turkey established the Investment Support and Promotion Agency of Turkey (ISPAT) and managed to attract foreign investors through a series of legal reforms.

Do you need a lawyer or an agent to buy a property in Turkey?

You should keep in mind that as a foreigner in Turkey, you are not familiar with all the terms and conditions of buying real estate in Turkey.

While these terms and conditions are constantly changing and being updated, you would really need help from a lawyer or real estate agent.

Here is how to find a good lawyer in Turkey.

Terms and conditions for buying real estate in Turkey 2021

Under Note 35 of the Turkish Land and Property Law No. 2644, adopted on May 18, 2012, citizens of foreign countries (except for those whose citizens are prohibited from buying and selling) can purchase real estate in accordance with relevant laws. Turkey.

You can refer to the website of the Turkish Land Registry and Mapping Organization to find out which countries are on the prohibited list.

It should be noted that citizens of foreign countries can purchase all types of real estate by inquiring from the competent authorities, including commercial, official, land, residential and … in any amount.

In this case there are no restrictions.

Keep in mind, if foreigners buy land and want to build on it, they must start building the project within two years.

Restrictions imposed on foreigners regarding the purchase of real estate in Turkey

• Any foreign citizen in Turkey can only buy up to 30 hectares of land in the Republic of Turkey.
• None of the foreign nationals can buy the land located in the military and security zones of the Republic of Turkey.
• Foreign citizens can only buy up to 10% of land and property in any neighborhood or city.
• Foreigners can also apply for credit from financial institutions or banks to purchase real estate in Turkey, and there are no restrictions.

In some cases, the purchase of real estate by foreigners in Turkey is canceled, such as:

• If you violate the laws of the Republic of Turkey by buying a property.
• If the purchased property is not approved by the relevant authorities.
• If you do not notify the Ministry of completing the project or building the property within the specified time.
• If you are not able to announce the end of work according to the previously approved plans of the Ministry.

Documents required to buy a property in Turkey

• Passport.
• A tax number (Vergi Numara).
• A bank account in a Turkish bank. (Read about how to open a bank account in a Turkish bank)
• Documents where you live in your country (such as an electric bill).
• Two 4*3 photos.

What are the procedures for buying a property in Turkey and obtaining a residence permit?

This process is easy and can be done in a short time as follows:

• You need to travel to Turkey to choose the property you want to buy. (For a real estate tour in Istanbul, click here).
• The expert evaluates the price of the property.
• In Turkey, the price determined by the government expert for the property is not much different from the actual price of the property, which is less than ten percent. For this reason, realtors cannot offer unrealistic prices, and this would reassure the customer. But in the end, the price set by the expert is recorded in the TAPU.
• A payment of the property price is deposited into the owner’s account.
• On the day the title deed is transferred, the remaining amount is deposited into the owner’s account.
• After less than a week, the title deed (TAPU) of the property purchased in Turkey will be delivered to you.
• You will then request an interview with the immigration office in the city where the property was purchased.
• On time (which is usually less than a month), you go to the immigration office with all your documents and answer a few simple questions.
• Finally, a Turkish residence card for one year (and sometimes two years) will be sent to your address in Turkey.

You should know that Move 2 Turkey will be with you in all these steps and you can be sure that all these steps will be completed in the shortest time and in the best possible conditions.

Costs of buying real estate in Turkey

You should know that in addition to the cost of buying a property in Turkey, you also have to pay other costs, and these costs are as follows:

• Attestation of a copy of each passport 200 TL.
• Title Deed (TAPU) Transfer Fee: 2 to 3% of the total amount of the purchased property.
• Translation fee of no more than 2000 TL.
• Health insurance fees for obtaining residency: 300 to 800 liras per person (depending on age).

Warning: Make sure to consider the following points when buying a property in Turkey

Unfortunately, with the increase in real estate purchases in Turkey and the accumulation of a lot of capital in this market, some scammers took advantage of this opportunity and tried to defraud the investors, so it is important to note some points in this regard:

• Before any transfer of funds in connection with the purchase of real estate in Turkey, it is recommended to inquire about the status of the property in question, bank debts, bank loans, legal restrictions and … at the Land Registry Office.
• Before buying a property in Turkey, ask your real estate advisor to show you the necessary permits and documents, and make sure they are correct.
• In the event of a dispute between the buyer and seller, the parties can file a lawsuit to the judiciary and judicial authorities.
• In general, we suggest that you seek help from an experienced lawyer or an agent along the way, as this is the safest way.

Living and buying a property in Istanbul

Istanbul is the fourth largest tourist city in the world. A wonderful city with a strong economy and a distinctive tourist destination.

You can also easily find a job near your place of residence, which is also a great city to visit and tour.

Of course, real estate in this city is very expensive compared to other Turkish cities.

It can be said that this city is vibrant 24 hours a day and it is a city that flows as much as it flows during the night. You can actually find a restaurant with great food at any time of the day or night.

There are many suitable and affordable real estate projects in Istanbul that have attracted the attention of many investors.

Read more about life and living in Istanbul here.

Live and buying a property in Izmir

Izmir has beautiful historical sites, it is a very beautiful and modern city which is famous in Turkey for its hospitality and culture.

Izmir is the third largest city in Turkey after Istanbul and Ankara, which has attracted the attention of many foreigners who seek to reside in Turkey or buy real estate in Turkey.

Izmir can be considered an industrial, agricultural and tourist center in western Turkey.

According to opinion polls and statistics, Izmir has managed to attract many immigrants by achieving high standards of living globally.

Due to Izmir’s mild climate, its beautiful and pristine nature has caused many foreigners to seek residence in this city.

Read more about life and living in Izmir here.

Looking at the statistics, we found that last year more than 8000 properties in Izmir were sold to foreign nationals.

The price of real estate in Izmir is more reasonable than in Istanbul.

Of course some areas of Izmir are very popular and expensive. Keep in mind that many things can affect the price of a property.

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Başakşehir has become one of the most important areas of Istanbul due to its wonderful nature, modern shopping centers, diverse amenities, recreational facilities and many other features making it suitable for investment or migration.

A brief history of Başakşehir

The history of the Başakşehir district of Istanbul dates back to the times of the Ottoman Empire, when it was in the past the main center for the production and supply of Ottoman gunpowder.

With the passage of time, the area was used as agricultural land for an Ottoman officer, and a cave called YarimBurgaz and damut dam were built, and these have remained since then and are known as the most famous tourist attractions in Başakşehir.

Basaksehir location in Istanbul

Başakşehir is located in the European part of Istanbul and is one of 39 metropolitan areas spread between Europe and Asia on both sides of the city.

Başakşehir is surrounded by other areas such as:

• Arnavutköy, located in the north of Başakşehir.
• Eyüp, located in the northeast of Başakşehir.
• Sultan Ghazi (Sultangazi), located in the northeast of Başakşehir.
• Esenler, located in the east of Başakşehir.
• Bağcılar, located in the south of Başakşehir.
• Küçükçekmece, located to the south of Başakşehir.
• Avcilar (Turkish: Avcılar), is located in the south of Başakşehir.
• Esenyurt (Turkish: Esenyurt), located to the west of Başakşehir.

Geographical features of Başakşehir

The natural features of Basaksehir make this region an attractive and picturesque place, surrounded from the north by large and dense forests of cypresses, pine trees and evergreen trees all year round.

Also, a river flows across the region, with a dam along the river leading to configure a large artificial lake with an area of 26,000 square meters in the district of Bayrampaşa.

Making it the largest artificial lake in Istanbul, there are also several restaurants, cafes, stadiums, and clubs all around the lake.

Basaksehir is also located near a forest that contains a variety of animal species such as foxes, eagles and many other wild animals, and extensive green areas have also been allocated for walking by the municipality of Basaksehir with an approximate area of 50 square kilometers.

In addition, the Turkish government has built a large central square in Basaksehir, which is almost twice the size of Istanbul’s famous Taksim Square.

This large square is used for various festivals and events throughout the year.

Theatrical performances, concerts, festivals and Ramadan celebrations are always held here.

The Square has the largest botanical garden in Europe, parking for thousands of cars, a large number of restaurants and cafes, and a large mosque.

Basaksehir facilities

Basaksehir has a rich social environment with many amenities and entertainment.

The area has large and modern shopping centers, theaters, cinemas, conferences, sports stadiums, venues for festivals and many other facilities that meet the needs of all segments of society.

Basaksehir has a very modern infrastructure and many modern technologies have been used in it.

The demographic composition of this region is young and more than 40% of the total population is under 20 years of age.

Basaksehir has educational facilities and includes universities and schools, where there are several private universities, and a public university will be established soon.

There are currently more than 20 secondary schools, 6 vocational schools, 12 private primary schools, 12 public primary schools, 18 Middle Schools, 7 training centres and 5 student dormitories in Basaksehir.

International schools also operate in the area, covering all levels of education, from primary to secondary school.

In terms of health facilities, Basaksehir has a large government hospital with 23 treatment centers and clinics.

In addition, a large number of private hospitals have recently been established as an integrated health City in Basaksehir.

It also contains eight specialized hospitals with a capacity of 2,500 beds equipped with the latest medical technologies.

These include hospitals, specialized hospitals, children’s hospitals and General Hospitals of Obstetrics and gynecology, cancer hospitals, neurosurgery, cardiac, psychiatric hospitals, physiotherapy and rehabilitation.

Basaksehir sub districts in Istanbul

Istanbul’s Basaksehir district consists of 10 smaller districts listed below:

1. Altınşehir
2. Bahçeşehir
3. Güvercintepe
4. Kayabaşı
5. Başak
6. Başakşehir
7. Ikitelli
8. Şamlar
9. Ziya Gökalp
10. Şahintepe

Tourist and entertainment attractions in Basaksehir

As mentioned, the Basaksehir District of Istanbul has many natural attractions due to its geographical location.

In addition, some stadiums and industrial attractions have been built in this area, which we will briefly present below.

Cave Yarimburgaz in Başakşehir

The cave of Yarimburgaz is an ancient cave located in the Basaksehir area of the Güvercintepe district, its length is 52 meters, and In the Ottoman era, it was used to produce and supply gunpowder.

Today, this cave is one of the tourist attractions in Başakşehir and hosts many tourists from all over the world every year.

Moi Park

Moi Park is the largest indoor amusement park in Turkey, located in the Mall of Istanbul shopping center.

This amusement park is suitable for entertainment of all ages and has many play equipment.

if you are going to travel to Istanbul it is recommended not to miss the opportunity to visit this entertainment city.

Bahçeşehir Gölet Park

This park is a green place with a great climate for relaxation and recreation.

If you are interested in the picnic you can choose this beautiful and green place for a great picnic experience.

The most interesting and beautiful place in this park is its lake that is full of ducks and turtles.

The park is a great place for photography, it also has fine restaurants and small cafeterias for the convenience of visitors.

Babalu Park

Babalu Park is one of the most important recreation and entertainment centers in the Basaksehir region, which hosts a large number of tourists daily.

This clean and Safe Park is a good place for recreation and entertainment.

Bogazköy Park

Another park in the area, a clean and beautiful family park with children’s play equipment, is Bogazköy Park.

The park has a variety of sports facilities including basketball, football and table tennis courts.

Around this park you can see a charming view of the Bogaz Valley with beautiful villas and buildings.

Nation Entertainment Group

It was built by Basaksehir Municipality with many facilities for the well-being of residents and families in Kayabaşı district and is one of the largest parks in Istanbul.

How to get to basaksehir

Basaksehir has access to a comprehensive public transport network including public and private buses, trams and subways.

There is a station in this area that facilitates access to other important areas of Istanbul, from this station it is possible to reach Ataturk International Airport and use the Marmaray metro line connecting the continent of Europe and Asia.

The Basaksehir metro line is known as one of the most important and efficient metro lines in Istanbul, which in addition to the airport is connected to other important parts of the city, including Taksim Square, Beşiktaş, Mecidiyeköy and other areas of Istanbul.

Buying a house in Basaksehir

Due to its unique nature and climate, the presence of medical and educational centers, modern shopping centers and tourist attractions, Basaksehir has become one of the most suitable areas of Istanbul for living and buying a house or an apartment.

Towers & modern high in Başakşehir Attracted many real estate investors, with all the new buildings and high towers, villas, modern style of European buildings that are all taking place in all districts of this region.

Due to the density of the towers and the modernity of the area, a wide range of real estate is available for investors wishing to buy a house in Basaksehir district.

The real estate in this area completely modernized according to the latest World Standards include en-suite facilities such as swimming pool, gym, sauna, cafes, parks, scenic and other elements that make this area ideal.

Luxury apartments in Basaksehir usually have attractive discounts on comprehensive payment plans, and buying property under construction is very common in this area.

Some construction companies in Basaksehir offer interest-free multi-year payment plans, which are ideal conditions for investors looking to buy real estate in installments in Turkey.

Houses and apartments in this area are suitable for the family lifestyle from middle class to rich. as it is very popular among buyers, immigrants or foreign investors.

If you are planning to buy a house or apartment in Turkey, and looking for more information about buying a house in Basaksehir or other areas of Istanbul you can contact our real estate consultants for the best possible offer and advice.

We’ll be with you during the process of buying a property in Turkey, until you get the residence or citizenship.

The most famous hotels in Basaksehir

The following is a list of some of the most popular hotels in this beautiful area.

If you want to stay in a quiet area, comfortable nature, you can book a room in one of these hotels and use public transportation in Istanbul to travel to other parts of the city.

Hampton by Hilton Istanbul hotel

Mall of Istanbul Hotel

Bahçetepe Medikule & Safa hotel

Hilton mall of Istanbul hotel

The post Başakşehir in Istanbul – All you need to know before buying a property in Istanbul appeared first on Move 2 Turkey.