When you roam around Turkey, you’ll find many rental houses or villas that Russian citizens own. And the number is just growing year by year. The number of properties bought by foreign buyers saw a good spike last year. A whopping 14.7% increase in the housing units sold in 2019 indicates the increasing demand for Turkish property. Surprisingly, a significant portion of these properties was bought by foreign buyers. Among them, Russia comes at the top, followed by Iraq and Iran. In this … [Read more...]
Turkish Citizenship: Step by Step Guide for Foreign Investors
With scores of foreign property buyers considering Turkish citizenship after the government slashed the costs of the criteria, we have put together a useful step-by-step guide for those thinking of applying. What's happened? Back in September 2018, the Turkish government reduced the qualifying criteria for a real estate investment from $1 million to $250,000. This has resulted in nearly 300 investors, mostly from the Middle East, applying for Turkish citizenship, and enabling more than … [Read more...]
Where are foreigners buying in Istanbul in 2020?
Istanbul remains the best-seller when it comes to foreigners investing in property on a month-on-month basis. July saw a 66 percent upswing in foreign buyers completing deals across Turkey, the country's biggest city by population remains at the pinnacle. Meanwhile, August property sales saw foreigners snap up 1,684 units in Turkey, with Iraqis, Saudis, Kuwaitis and Russians the most nationalities among the top five buyers. Again, Istanbul was the most popular, but which of its suburbs are … [Read more...]
Turkey’s most popular expat areas
Turkey is becoming a major hub for investors from the Europe and the Middle East, thanks to low property prices, wonderful locations and a welcoming society. But savvy investors are also wise to the fact that where other expats have settled, there is likely to be a better chance of relocating smoothly and fitting into the lifestyle, as well as snapping up property that could serve as rental generators. For those that like to research locations of properties and where most foreign … [Read more...]
Short-term renting in Turkey? Get a manager!
In short: those that rent their properties on a daily or weekly basis must register them with the local police of Gendarme. Failure is a 10,000TL fine! At EV Villas & Apartments - the sister company of TAM Property Management - we have all the experience necessary to guide you through the maze of rental laws. Here's a quick recap of how they could affect you: New law Turkey has suffered terrorist and criminal attacks over the last two years. Due to the heightened state of global … [Read more...]
Turkey to offer wealthy foreigners new citizenship
Turkey to offer wealthy foreigners new citizenship Turkey has stepped up to entice more wealthy foreign property investors - with the chance to apply for citizenship. The country announced it will grant citizenship to foreigners who buy property worth more than $1 million and a minimum of $2 million investment. Alternatively, foreign investors will be able to take up citizenship if they have more than $3 million in a bank account for more than three years. And with Istanbul set to … [Read more...]
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