Even if they don`t have a special program for investors, you can obtain the residency easier if you buy a property in this country.
In 2003 Turkey has liberalized its real estate market for foreign buyers. Now more than 40,000 estates in 70 Turkish cities are owned by foreigners from 64 countries. Almost 5,000 foreign investors are new to the market. Citizens from 87 countries qualify to buy without approval by the local authorities. Citizens from 24 other countries can purchase only buildings but not land. Germans, British as well as Dutch, French, Syrian and American citizens are also at the top of the list of nations interested to buy in Turkey.
Stable economic growth with an average annual real GDP growth rate of 5.2 percent over the last 9 years (TurkStat)
Promising economy with a bright future as it is expected to become the fastest growing economy among the OECD members during 2011-2017 with an annual average real GDP growth rate of 6.7 percent (OECD Economic Outlook No. 86)
18th largest economy in the world and 7th largest economy compared with the EU in 2011 (GDP at current prices, IMF WEO)
Institutionalized economy fueled by USD 110 billion of FDI in the last 9 years and ranked as the 13th most attractive FDI destination in 2012 (A.T. Kearney FDI Confidence Index)
A dynamic and mature private sector with USD 135 billion worth of exports and an increase of 275 percent between 2002 and 2011 (TurkStat)
- » Business-friendly environment with average of 6 days to set up a company, while the average in OECD members is more than 12 days
- » Highly competitive investment conditions
- » Strong industrial and service culture
- » Equal treatment for all investors
- » International arbitration
- » Guarantee of transfers
- » Sound banking system
- » Recently introduced mortgage system
- » Strong construction firms with a good reputation worldwide
- » Housing supply is less than housing demand, indicating growth potential
- » Expected increase in quality of housing in compliance with the earthquake regulations
- » Increasing need for residences and plaza buildings
- » Restructuring process in the cities leading to slum houses being demolished and replaced by quality housing
The main explanation for the opening of the Turkish real estate market is the country's bid to become European Union member in the years to come. One of the reasons why foreign investors should consider Turkey as an option, according to most local agents, is that prices in the country are much lower than in EU in average. Depending on the area prices as low as $75,000 for an apartment and $150,000 for a house aren't impossible to find. When Turkey becomes EU member prices of Real Estate will most likely rise to a near European level. The potential for returns on investment in this area are enormous.