Foreign investment in Turkish properties has been popular for decades but it has been on the rise in recent years. There are three types of foreign property owners in Turkey. Perhaps the most popular is the holiday home owner, those who have found a destination in Turkey that they have fallen in love with and so choose to buy a villa or an apartment with the intention of being able to visit more often and without the costs of accommodation; they create for themselves a home from home. The second is property purchased by expatriates, retirees who choose to live a simpler and cost effective life in a country that provides warm weather and good health care. Finally, the market is often dipped into by investment buyers, business owners and developers who purchase land or properties to renovate, rent out or provide as a holiday accommodation as a business. Whichever kind of investor you consider yourself to be, buying property in Turkey is a winning situation in many ways.
For a start, property in Turkey is generally cheaper than in the EU or Gulf States and you can get a lot more for your money. If you choose to retire in Turkey and become a resident or citizen, you benefit from the lack of inheritance tax and the cost of living is considerably cheaper than in most desirable countries in the world. This is all before you consider the fact that the pace of life is much slower in most places in Turkey, the food is healthy and the sun always seems to be shining. It is a desirable way to live. As an investor, the Turkish economy is highly dependent on tourism, so there is always money to be made from buy to let arrangements. If you are planning to buy a property in Turkey to use for yourself as a holiday home, you have the benefits that come with owning a second home, like more holidays! Whatever the reason for your interest in buying property abroad, there are many benefits to choosing Turkey as your second home.
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