Istanbul is a historical city with a history of 3000 years, unique nature, rich cultural heritage and a world tourist attraction. This city, which has been a pioneer in trade, science and art for centuries, is currently considered the most important metropolis in Turkey in terms of economy, social life and population. Buying property in Istanbul is one of the important goals of smart and professional investors.

Istanbul, with its combination of tradition and modernism and its strategic geographical location, is an important connection point between the European and Asian continents. With its proximity to global markets, young population, established industry, large investments, developing technological infrastructure, dynamic entrepreneurial ecosystem and high-level social opportunities, Istanbul has gone beyond Turkey’s borders and has succeeded in becoming a global city with competitive power on an international scale!

Istanbul is located in the northwest of Turkey with a population of 15.8 million and covers an area of ​​5,461 square kilometers. The city is bordered by the Black Sea to the north and the Sea of ​​Marmara to the south. The Bosphorus Strait is the point where these two seas meet and is exactly where the European continent separates from the Asian continent. Istanbul is the only city that is crossed by a sea and is Turkey’s gateway to the world. The city has 39 districts, 25 of which are located on the European side and 14 on the Asian side.

Istanbul has extensive transportation networks and infrastructure facilities. The world’s eighth largest financial center is located in Istanbul. It is home to Turkey’s most important import and export ports and the world’s largest airport in terms of passenger volume. In the first two months of 2024, the volume of foreign tourists from around the world to Istanbul was approximately 2.5 million. The shortest land and sea routes and the Edirne railway line provide the city with connections to Europe.

Istanbul is a center of gravity where national and international capital is increasingly concentrated in its financial infrastructure and investment opportunities. The city ranks first in Turkey in terms of socio-economic development criteria, and one in five people in the country lives in Istanbul. Istanbul has the youngest, most creative, most dynamic and most attractive labor market in the world.

Smart foreign investors have not ignored this opportunity and are coming to Istanbul in search of quick-return investments. To start investing or receive any advice about buying an apartment in Istanbul or real estate investment, just contact the experts of Home Turkey’s experienced and professional team right now.

Why is buying property in Istanbul better than other cities in Turkey?

Istanbul is known as the cultural capital and ancient city of Europe, and in addition to its developed economy and lively and entertaining social life, it has made significant progress in cultural and artistic activities, the spirit of a modern and global city, the art of urban planning, and environmental quality.

Istanbul is at the heart of Turkey’s socio-economic transformation, and its goal is to transition from a traditional economy to an innovative and technology-driven economy. Ultimately, the power of cities to become centers where regional and global economies are managed comes from the weight they have in their national economies.

1. Istanbul’s colorful role in the Turkish economy

With its sustainable growth, this city not only maintains the dynamism of the Turkish economy, but also plays an effective role in the country’s integration with the world. In this regard, it can be said that Istanbul determines Turkey’s growth power in international competition. The volume of foreign trade in this city, where more than 38 thousand foreign-invested companies operate, has reached about 247 billion dollars. From this perspective, it can be seen that more than half of Turkey’s total exports are carried out from Istanbul.

Istanbul ranks first in Turkey in terms of socio-economic development criteria and hosts 18.7 percent of Turkey’s population and 20 percent of the country’s total employment. In addition to being the largest contributor to the country’s economy in terms of economic growth and employment, this metropolis also has a rich and dynamic structure in terms of human capital.

With 60 universities, 15 technoparks, approximately 93 thousand R&D employees, 39 thousand faculty members and 1.3 million students, Istanbul has serious potential in terms of qualified and competitive workforce. Considering that the average age of the population of nearly 16 million is 33.4 years and more than 70% of the population is still in the working period, Istanbul has the youngest, most creative and dynamic labor market not only in Turkey but also in the whole world.

2. An investor’s experienceProfitable

In the 11th Industrial and Technology Development and Strategy Plan 2023, the digital transformation of the manufacturing industry, along with the training of a qualified workforce to keep pace with technological developments, artificial intelligence, and robotics, have been identified as critical technologies.

In this plan, with the laws and support of the Turkish government, Istanbul will first become a regional and then a global entrepreneurship center that attracts foreign capital. In order to strengthen foreign investments, a regional development strategy has been proposed and the importance of implementing priority projects such as the 3-story and large Istanbul tunnel, the second phase of Istanbul Airport and the Istanbul Canal, and other strategic projects such as the construction of residential, office, and service buildings has been emphasized.

Given the high added value and quick return of real estate investment in this city, by purchasing property in Istanbul, investors from all over the world They come to Istanbul.

Life in Istanbul and its attractions

Istanbul has a long history and is considered the cultural and economic capital of Turkey. The presence of many and diverse tourist sites has led to the boom in tourism in this city. The price of housing in Istanbul is the same as other major cities such as Ankara, Antalya, Izmir, and Bodrum. But it is a little more expensive than other cities in Turkey.

Life in this city has attractions that we want you to get to know:

The culture and civilization of Turkey is similar to Iran

The culture of the Turkish people is a combination of Asian and European cultures and is somewhat similar to the culture of the Iranian people. The Turkish people are kind, hospitable, friendly, and happy. Unlike living in European countries, you will not feel alienated in Turkey.

In the West, unlike the East, children rule the family, and for an Iranian family that intends to immigrate abroad and has raised its child with authentic Eastern culture to this day, accepting and harmonizing with Western culture can be very difficult. But Turkey and the city of Istanbul, with its middle culture, can be a better choice to start immigrating.

It has very good weather conditions

Istanbul is one of the coastal cities of Turkey, surrounded by the Black Sea to the north and the Sea of ​​Marmara to the south, and has 4 seasons. Famous winds blow in Istanbul, which make the sky look like a postcard and the air healthy. The temperature in the coldest month of the year is 6 degrees Celsius and in the hottest month of the year it is around 34 degrees Celsius.

It has various historical, tourist and recreational places

This city has various historical monuments and old places; Hagia Sophia Mosque, Princes’ Islands, Dolmabahçe Palace, Sultan Ahmed Mosque, the historic Basilica Cistern, Rumeli Fortress, one of the famous fortresses of the Bosphorus Strait from the Ottoman era, Galata Tower, Kızkule Cı Tower, Topkapi Palace and dozens of other historical monuments. Istanbul is also one of the best cities in Turkey in terms of entertainment, welfare, public transportation, medical services, and educational and university centers.

There are shopping centers and representative offices of world-renowned brands in Istanbul

A variety of large shopping centers, the most famous of which include the Istinye Shopping Complex with world-renowned brands, Olivium, Viaport Outlet, Outlet 212, Ak Markaz Shopping Center, Venezia Outlet, Mall of Istanbul and Optimum Shopping Center, are at your disposal.

Representative offices and stores of leading brands such as Gucci, Giorgio Armani, Versace, Lacoste, Brilliance, Bass, Dolce Gabbana are located in the Nişantaşı neighborhood and Istinye Shopping Center and Viaport Outlet, and other brands such as Polo, H&M, LC Waikiki, Nike, Puma, Zara, Adidas are located in All shopping malls are available.

In the food industry, world-renowned brands such as Starbucks, Gloria Jean’s, Burger King, KFC, Big Mamas, Big Chef and Nestle have branches all over the city and also inside shopping malls.

World-renowned oil companies such as Total, Shell and BP are in Turkey and have gas station branches all over Istanbul. In the automotive industry, world-renowned brands such as Mercedes-Benz, BMW, Volkswagen and… are available all over the city. Other brands in other industries, including Siemens, Beko, English Home, and …, are all available to you in Istanbul.

You will have the opportunity to work in the best companies in Turkey

Most international companies and representatives of the world’s top brands, as well as large and reputable Turkish companies, are in Istanbul, and you will find employment opportunities in them by living in this city. Of course, your high skills and expertise and having Turkish or English are also of great importance, but in general, it is easier to find a job in Istanbul.

Buying property in Istanbul is a high investment value

The city of Istanbul has a high potential for urban development and income generation, creativity, and multiculturalism. This city offers social services -It offers a high-quality international experience in the triangle of tourism, culture and work. Smart investors from all over the world did not miss this opportunity and, at the same time as the rapid urban development in the Middle East region and its globalization, came to Istanbul to contribute to the development program of entrepreneurship and innovative and technological transformation in the current industrial structure of Turkey.

The presence of the world’s giant capitalists in Istanbul increases the value of real estate day by day. As you know, the return on investment (ROI) of housing in the world is between 18 and 22 years, while according to Endeksa analysis, the return on investment of real estate in Turkey occurs within 14 years, which indicates the early return on investment and purchase of property in Turkey, and especially in Istanbul, compared to other cities in the world.

With the globalization of Istanbul, you will be profitable and productive by being in this environment, no matter how much you invest and share in this globalization.

Acquiring Turkish Citizenship by Buying Property in Istanbul

As we said, Istanbul is located in the strategic triangle of tourism, culture and business and is developing and growing in technology and innovation, and as a result, becoming a global city. During these changes, Istanbul has received support from the government to attract foreign capital, and real estate investment in Istanbul has been highly profitable.

According to the law, since 2022, a foreign buyer, without any restrictions on the choice of region, will receive Turkish citizenship and nationality by purchasing all types of real estate, including residential, office and commercial (other than land), with a total value of at least 400 thousand US dollars, in addition to having a profitable investment. With a Turkish passport as a Turkish citizen, you do not need a Çalışma Ezin (work permit), and if you intend to start a business in Istanbul, you can easily obtain permits from the relevant departments and benefit from other government support for Turkish citizens.

In the process of purchasing property to receive Turkish citizenship and passport, it is not necessary to live in Turkey. You can be outside Turkey and buy from the projects under construction in Istanbul that have higher added value and investment returns for you, or invest in ready-to-move-in properties that allow you to benefit from Istanbul’s high rental income.

Properties purchased to obtain Turkish citizenship and passport are not allowed to be sold for 3 years. After the end of the 3-year period and the sale of your properties, even if you do not own any property, you are still considered a Turkish citizen. If for some reason you are forced to sell your property before the end of the 3-year period, you must first cancel your passport and then proceed to sell your property.

Obtaining Turkish residency by buying property in Istanbul

First of all, you should know that Turkish residency is different from citizenship and obtaining a Turkish passport. Individuals who intend to live in Turkey can obtain a one-year residence permit for themselves, their spouse, and their children under the age of 18 by purchasing a residential property worth at least $200,000.

As long as you own the property, your Taşinmaz residence permit can be extended in future years, and if you intend to sell the property through which you received the residence permit, your Taşinmaz residence permit will not be revoked after the sale of the property, provided that you introduce your new property to the Immigration Office.

Taşinmaz residence rules are based on the date your document was registered with the Notary Public and Turkish residence rules are not retroactive. For example, if you purchased a property in 2022 and received a residence permit, and then the residence law changed in 2023, you will not be eligible to extend your residence.

By extending your 5-year residence permit (Taşinmaz), you can apply for a Turkish passport with the necessary conditions.

Important points in obtaining Turkish residence permit

In many cases, it has been seen that buyers have confused the requirements for Turkish residence permit with some citizenship requirements and have purchased a property through which they cannot obtain residence!

The property purchased to obtain Turkish residence permit must have all the points stated below:

– The property deed is not joint and must be in the name of only one person (the head of the family). In this case, the spouse and children under 18 years of age are included.The guardian receives their residence.

– ⁠You can apply for Turkish residency only by purchasing a property worth at least $200,000, and this is not possible by combining properties. However, in the case of obtaining citizenship and passport, it is possible to use the combination of properties.

– ⁠The property purchased for Turkish residency must be residential. However, in the case of Turkish citizenship and passport, properties can be residential, commercial, or administrative.

– ⁠The property in question must be habitable and you and your family can live in it. You cannot rent the property with which you received Turkish residency. If you have another property, you can rent the property through which Turkish residency was not obtained. But in the matter of citizenship and obtaining a Turkish passport, there is no need for you to be present in Turkey, and you can buy and rent both types of ready-made and under-construction properties.

– The amount written on the property deed must be at least 200 thousand dollars, pay attention to this. Because according to Turkish custom, the transaction amount is not included on the property deed and is declared much lower to the Deeds Office so that the cost of the deed (which is 4% of the sales amount declared to the Deeds Office) is reduced, and the seller must agree to have the transaction price included on your deed.

– The property in question is not in areas prohibited for residence. Prohibited areas are areas where the number of foreigners exceeds 25% of the total population of the area. But there is no regional restriction in the issue of citizenship and obtaining a passport.

List of prohibited areas in Istanbul for obtaining a residence permit (Taşinmaz) 2024

1- In the Avcilar region, the neighborhoods:
✖deniz köşkler
✖gümüşpala
✖merkez

2. In the Bahçelievler region, the neighborhoods:
✖şirinevler

3. In the Başakşehir region, the neighborhoods:
✖ikitelli osb
✖zia gökalp

4. In the Beşiktaş Beşiktaş district, the neighborhoods:
✖yildiz