Real estate Turkey

The Turkish real estate market is open to most foreign nationals. Buyers can purchase residential, commercial, and land properties across the country. There are a few restricted zones (such as military areas), but otherwise, the process is straightforward for international investors. Property ownership grants full rights, and foreign buyers are also eligible to apply for a residence permit or even citizenship, depending on the value of the investment.

Property prices in Turkey vary significantly by region:

• Istanbul: €1,500–€3,000/m²
  (Depending on district — central areas like Şişli, Beşiktaş, and Kadıköy are more expensive.)

• Antalya: €1,000–€2,000/m²
  (Coastal zones like Lara and Konyaaltı are the most sought-after.)

• Bodrum: €2,000–€4,000/m²
  (For premium villas with sea views.)

• Izmir: €1,200–€2,200/m²
  (Especially in districts like Karşıyaka and Alsancak.)

• Ankara: €900–€1,400/m²
  (Generally more affordable compared to coastal cities.)

Suburban and inland areas tend to be more budget-friendly, while coastal resorts and central urban zones command higher prices.

Foreign buyers in Turkey are subject to the following taxes and fees:

• Title deed transfer tax: 4% of the declared property value
  (Usually split between buyer and seller, but often paid fully by the buyer.)

• VAT: 1% to 18%
  (Depending on property type and seller; exemptions may apply for first-time foreign buyers.)

• Notary fees (if using power of attorney): €100–€300

• Appraisal report (mandatory): €150–€300

• Annual property tax: 0.1%–0.6%
  (Depending on location and type of property)

• DASK insurance (mandatory earthquake insurance): €20–€150 annually

Foreign nationals can apply for Turkish citizenship by purchasing property worth at least $400,000. The investment can be made in one or multiple properties, provided the total value meets the threshold. The property must be held for a minimum of 3 years. This program offers a fast-track route to citizenship with full ownership rights and no residency requirement prior to applying.