Turkey, without doubt, is an option often adored by foreign investors, providing the circumstances necessary for a high margin of profit with an acceptable rate of risk. New and returning investors naturally wonder about the current state of the market and the regions Iranians prefer to invest the most in Turkey, which is also the topic of our article. Before presenting you the prominent spots of investment, though, it would be beneficial to explain the reasoning behind the popularity of Turkey in property investment.
Why Do Iranian Investors Prefer Property Investment in Turkey?
Whether for a brighter future, a higher standard of living, or a welcoming environment, Iranian investors have a wide array of reasons for investing in property in Turkey. The main points of argument are as follows:
Real Estate Prices in Turkey Are Lower Compared to European Countries
Considering the dollar exchange rate to Turkish liras, it is only natural for housing prices in Turkey to be much more affordable than that of other European countries. Having lower prices while boasting many of the advantages of a European country makes Turkey an excellent choice for real estate investment.
Reduction of Taxes on Turkish Real Estate
To encourage foreign investors to real estate investment in Turkey, the government has recently taken important steps in its tax policy. After fulfilling several conditions, you may apply for tax exemption and make a great bargain.
Residence Permit Renewable Every Year
According to the Presidency of Migration Management, foreigners who will own immovable property in Turkey may demand a residence permit after fulfilling several conditions. Moreover, immovable property used as a house in shared or cooperated property covering family members gives residence permit application rights also to the family members.
Profitable Real Estate Investment in Turkey
Considering the housing prices increased more than double in a year, it would not be an exaggeration to assert that investing in property in Turkey is quite profitable.
Warm and Welcoming Attitude of the Local Population
Hospitality is a core value of Turkish and Islamic culture, making the country a good place not only for investment but also for living your life.
Turkey is a Relatively Safe Country
The laws in place aim to ensure the safety of moral integrity and property rights of people. A substantial amount of resources are allocated to the General Directorate of Security every year, which uses these funds to actively protect people’s rights.
Turkey is a Good Gateway for Higher Education
Turkey offers a good variety of subjects for higher education with some of the diplomas being recognized internationally. Application for education and visas in European and American countries is also a relatively conventional process.
What are the Benefits of Investing in Real Estate in Turkey?
Before deciding to invest in Turkey property, the advantages and disadvantages of such a venture should be evaluated with great care. You may refer to a previous article written for our blog for detailed information, but the main points are as follows:
- Turkey has a stable political environment, and property laws in place aim to secure your property rights.
- The Government of Turkey actively encourages foreign investors by offering tax exemptions and a safe process for buying property in Turkey.
- The Turkish government also offers the opportunity to get Turkish citizenship after investing the required amount in Turkey and fulfilling several conditions.
- The high demand makes the process of selling your property relatively easier and quicker in case you want to diversify your investments or make a change in your accommodation.
- Turkey boasts many of the advantages of a European country while being reasonably affordable.
- The warm and welcoming attitude of the local population is also a valid point of argument for investing in Turkey.
Statistics of Iranian Real Estate Investment in Turkey
According to the figures at hand, Iranians bought the second greatest number of houses in Turkey in the first half of 2019 while also coming second in citizenship applications. Iran also came first in direct investments in Turkey with a substantial number of 513 established Iranian companies.
At the beginning of 2020, Iranians overtook the first place in buying the biggest number of houses with more than a %50 increase in purchases. Thanks to the great opportunities and advantages offered, this number is likely to reach even greater heights in the future.
Cities Preferred by Iranian Investors
Let us assume for a moment that you have decided in buying real estate in Turkey, with the country having more than eighty cities and some of its big cities having dozens of huge districts, the sheer number of options may confuse the investors and cause anxiety. Do not worry though. To provide you with a solid framework, we have compiled three of the most popular cities for investment in Turkey.
Istanbul has a rich history and a cosmopolitan environment and is the most preferred location for investment in most areas, be it business or real estate. The metropolis offers options for every budget and taste in Istanbul. Some of the most popular districts of the city are as follows:
- Esenyurt is a well-developed area with stable infrastructure and services. Following its success, Esenyurt became an independent municipality in 1989. And it is getting more accommodating with each passing day.
- Fatih with its rich historical background and the vital role it plays in commerce.
- Beylikduzu is a great option for a long-term investment with its completed and ongoing luxury projects and infrastructure.
- Kadikoy is a young part of the city, known for its nightlife and the well-developed entertainment sector.
- Sisli plays a leading role in many of the important sectors of the city, housing educational institutions, shopping centers, and business opportunities.
- Bahcesehir is a great example of a healthfully expanding city and one of the best options for long-term investment as it is near to many areas of big projects.
- Avcilar boasts a beautiful coast, an accessible beach, and traditional shops and restaurants along with their modern counterparts.
- Buyukcekmece is named after the aesthetical lake with the same name to its east, encircled by the Marmara Sea, and it has all the advantages of a coastal region.
- Kucukcekmece is known for its significant role in commerce and industry and is highly demanded by investors from around the globe.
- Sariyer is one of the most luxurious and touristic districts in the city. Reputable boutiques and businesses offer a more specialized and personalized experience to Sariyer’s residents.
- Zeytinburnu offers great returns for your initial investment and thus has been becoming a favorite for rental investment.
- Basaksehir has recently become an independent district, and it deserves the title with the amazing opportunities it provides to investors.
- Beyoglu, with its culture, history, entertainment, and of course the iconic Galata, is one of the most popular spots in the city for all purposes
- Kagithane is the commercial and residential pillar of the city, offering the best parts of both nature and development.
In Which Areas Do Iranians Generally Live in Istanbul?
There is a vast number of Iranians in Turkey, estimated to be between 500.000 and a million. Iranians in Istanbul make up a big part of this number. Esenyurt, Fatih, and Beylikduzu are especially popular, housing a considerable number of Iranians. The other districts mentioned above have also been gaining traction recently.
Boasting many of the advantages of Istanbul, Izmir offers a more accessible environment with its temperate weather, golden beaches, well-developed infrastructure, and entertainment industry. Additionally, with the local municipality taking active steps, public transportation has been getting increasingly accessible and affordable in recent years, making it possible to thoroughly enjoy the diverse experience of Izmir.
While real estate investment in Istanbul and Izmir are often the first ones to come to mind, Antalya has been rising in popularity amongst investors in recent years. Antalya has always been a popular tourist and investor destination on an international scale. It has a deeply rooted history, great weather, hospitable locals, and the calm and peaceful lifestyle it offers. Kalkan, Side, and Belek are all great options for investment while considering Antalya, but Alanya deserves a special mention and further information.
Real Estate Investment in Alanya
You have already come across Alanya before while considering a holiday. It comes as no surprise as Alanya has been a popular global destination for holidays for decades. Property in Alanya is in high demand in and out of the tourism season, thanks to its high rental and investment value. The service industry and the infrastructure are very well developed, enabling easy access to many facilities offered by the city.
What Are My Options
After making the critical choice of a location, you might be wondering about your options. You do not need to look any further, as all the information you are after is right here with several options for every budget and preference.