In connection with recent news, we would like to remind you that Turkey has a program for obtaining citizenship for the purchase of real estate. The entry threshold has not yet been raised, although there are rumors.
For citizenship, facilities in Istanbul are usually chosen. Why?
Prices in the city are rising steadily. In August 2023, the average house price was more than 4 million liras ($147,960), an increase of 92% compared to August 2022.
At the same time, rental rates are also growing - in July it was 109.5% in annual terms (from 16 thousand TL - approximately $570 - per 100 sq. m).
There are three areas of the city that are most interesting for investment:
1. In the European part - Beyoglu, Maslak, Besiktas, Sariyer, Sisli
2. In the Asian part - Beykoz, Uskudar, Kadikoy, Ataşehir, Adalar
3. Areas remote from the center - Basaksehir, Basin Express, Beylikduzu, Catalca
Why here? In the first two zones, prices start from $450 thousand for 55 sq. m. m (net) apartments 1+1. This means that even with all the innovations of the Turkish government, they are eligible for a residence permit. They can be especially profitable to rent out.
What should you pay attention to when purchasing? If this is a finished object, the age of the building. It is better if the house was built after 2018: then the regulations on the seismic resistance of buildings were updated. New buildings meet these standards.
