Which Cities Are Preferred For The Concept Of Turkish Citizenship By Investment?
To become a Turkish citizen, foreigners buy real estate and get results rapidly. According to the housing sales figures from Turkey Statistical Institute, 3 thousand 604 houses were sold to foreigners in August 2019. Iraqis ranked first among foreigners bought from Turkey. Iraqi citizens have bought a total of 675 housing from Turkey in August. Iraq was followed by Iran with 469 houses, Russian Federation with 212 houses, Kuwait with 159 houses and Germany with 149 houses.
According to the current researches, Istanbul has the first place this year in the sales of housing to foreigners, as in the evaluation of the cities where foreigners buy the most housing. Other provinces are as follows; Antalya, Bursa, Ankara, and Yalova. One of the most important reasons for foreigners to choose these cities is that they have high tourist potential. Another common feature is that they have a seashore. With the law of granting citizenship to the home buyer, the real estate investment was reduced from $1 million to $400 thousand, which was the main reason for the increase in housing sales to foreigners.
Now, let’s examine the cities where foreigners prefer the most residential investment: Istanbul, Antalya, Bursa, Ankara, and Yalova. Why do these five cities attract foreigners? What other features make them preferable?
1. İSTANBUL
Istanbul is seen as the best city to invest in housing in Turkey. Istanbul is located in the heart of Turkey’s economy, culture and art activities, tourism, transportation, issues such as education comes first compared to other provinces. Turkey’s largest and most successful construction projects come to life in Istanbul. Istanbul also offers great opportunities in terms of job opportunities. Continuous investments bring employment opportunities. Historically, this city, which has been home to different civilizations for centuries, is now building new bridges with the future. Millions of tourists from all over the world come to Istanbul to admire this city. Some of these tourists get Turkish citizenship by buying housing in the city they love. In this way, they enjoy living in the city instead of limited holidays.
In August, Istanbul ranked first in terms of housing sales to foreigners. A total of 549 houses are sold in the province; The sale price of a 100 square meter house varies between 300 thousand 614 TL and 501 thousand TL on average. The average rental price is 1.663 TL.
2. ANTALYA
Many foreign tourists who came on holiday to this tourism paradise, returned to his country by buying a residence from the Antalya. Foreigners love Antalya in the real estate sector. Kemer, Manavgat are the predominant preference of the Russians, while Alanya is among the most preferred places by the Germans.
Antalya Free Zone is the choice of foreign investors because of low land, energy, labor costs, and logistic side. Antalya attracts the attention of domestic and foreign investors who want to invest in this region with its rich infrastructure works. Which is one of Turkey’s economy and real estate sector and significant investment is seen as a world project Konyaaltı project will be completed in 2020. In this way, the Konyaaltı region will continue to be popular in real estate buying and selling.
The construction of the Boğaçay Project, one of Antalya’s vision projects, continues rapidly. The Cruise and Yacht Harbor Project will have a daily capacity of over 20 thousand foreign and domestic visitors. This port, which will be one of the important ports of tourism, will also play an important role in the growth of the real estate sector.
Antalya continues to be the center of attention of foreigners. Antalya ranks second with 656 housing sales. The sale price of a 100 square meter house in the city varies between 163 thousand 523 TL and 272 thousand 500 TL. The average rental price is 1,021 TL.
3. BURSA
Bursa is a green city on the shores of the Marmara Sea, adjacent to Istanbul. Just like Istanbul, it has been a popular destination for civilizations and served as the capital of the states. For this reason, there are many historical mosques, city walls, tombs and other old ruins in the city. Bursa is one of the cities that foreign tourists want to see.
Uludağ Mountain, which is one of the symbols of Bursa, covers the city with its height of 2543 meters. The interest in the region for winter tourism is increasing every year. Waterfalls, mountains, caves continue to attract the attention of foreign tourists. On the other hand, Bursa is one of the economically strong cities with its developed industry. Also, luxury housing projects in the city attract the attention of foreign investors.
Bursa is also a favorite of foreign investors, where the real estate sector is advancing rapidly. Mustafakemalpaşa and Karacabey were the preferred districts of foreign investors in Bursa. Bursa ranks third with 228 housing sales. The sale price of a 100 square meter house varies between 156 thousand 597 TL and 261 thousand TL. The average rental price is 976 TL.
4. ANKARA
Turkey’s capital of Ankara is one of the most livable cities with a modern structure and contemporary people. Due to being a capital city, all public institutions are here. The capital is also economically strong, as it hosts commercial activities and hosts powerful industrial companies. On the other hand, Angora Wool is exported to Europe, which contributes to the urban economy.
Ankara also has a rich perspective in terms of cultural and artistic activities with its museums, theaters, opera halls.
Turkey’s second most populous city Ankara has a total of 213 residential sales to foreigners. The most preferred districts of foreigners in the capital Ankara, respectively, Sereflikochisar, Cankaya, Cubuk, Kahramankazan, and Altindag were announced. The sale price of a 100 square meter house varies between 140 thousand 629 TL and 234 thousand 400 TL. The average rental price is 846 TL.
5. YALOVA
Yalova is formerly a small district of Istanbul, was developed with the investments made after being a province and has become one of the favorite places of foreign investors today. Yalova attracts the attention of foreign tourists with its sea, forests and living areas. Yalova is the address of those who want to escape from the crowded population of Istanbul and listen to their heads peacefully. Moreover, ferries and new bridges to Istanbul is one of the reasons to prefer to live in this province. In recent years, luxury residences have been built especially for Arabs with large families and their interest in the region has been increased.
Yalova, which ranks 5th with 169 house sales, the sale price of a 100 square meter house in Yalova varies between 186 thousand 845 TL and 311 thousand 400 TL. In Yalova, the favorite districts of foreigners are Merkez, Çiftlikköy, Çınarcık, Armutlu, and Altınova.
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