Buying a Residential Apartment (Normal) in Turkey

One ​​of the methods of real estate investment in Turkey is buying a residential apartment (normal) in this country. Buying a residential apartment in Turkey is a guaranteed and reliable way for foreign investment and a sure way to make a profit in the shortest possible time. Buying a residential apartment in Istanbul, as a modern and advanced metropolis, is an investment product that even the richest Turks are interested in spending their annual profits on buying an apartment or a residential house.
In addition to being an investment product, buying an apartment in Istanbul and large and modern cities such as Ankara, Antalya and Izmir preserves the value of your money and creates significant foreign exchange income and profit. In addition, by buying a residential apartment in Turkey worth at least $ 400,000, you can receive a passport of this country with a guarantee and within a maximum of 6 months. Also, if the value of the purchased property is at least $75,000, you can easily obtain residency in this country.

Buying a Residential Apartment in Turkey

A residential (normal) apartment in Turkey refers to 2- to 5-6-story residential units that are built for residential use and have standard facilities and equipment needed for daily life. Normal apartments usually include units with an area of ​​60-70 meters to 300 meters and have various facilities such as one or more bedrooms, bathrooms, kitchens, living rooms, etc.
Buying a residential apartment in Turkey is suitable for 3 groups of investors:
• Obtaining Turkish residency or citizenship and family life
• Buying a property with the aim of renting it out to tenants and generating income
• Long-term investments in Turkey and making a profit
• Buying a newly built residential apartment in Turkey

Benefits of buying a residential apartment in Turkey

Residential apartments or normal apartments in Turkey are usually built in residential areas and close to important amenities such as shopping centers, schools, parks and medical centers. These residential units do not have the facilities and services of luxury residential towers, only some of them have public services such as elevators, parking, shared entrances and security facilities.
In addition, these residential units do not have a building manager and living in them may be accompanied by problems for immigrants and Turks from time to time. But in addition to all these, buying a residential apartment in Turkey and living in it has several advantages:

✓ Obtaining a Turkish passport and citizenship

According to the laws of the Turkish Immigration Office, applicants for a passport of this country can obtain a passport of this country by purchasing a real estate document worth at least 400 thousand dollars. Accordingly, the first advantage of buying a residential apartment in Turkey is the easy and quick obtaining of a passport and citizenship of this country. According to this law, if the price of the apartment you buy is at least $400,000, you can apply for a Turkish passport with its document.

✓ Obtaining Turkish residency

Buying a residential apartment in Turkey is the only way to obtain residency in this country through real estate investment. To obtain Turkish residency, the property you buy must be residential and outside the “prohibited areas”. In addition, the price of the apartment in question must be at least $75,000 or more. The names of the areas where you can apply for Turkish residency by purchasing a residential apartment are listed on the website of the country’s immigration office.

✓ Paying the minimum monthly building charge

The monthly building charge for normal apartments is between 30 and 50 liras, and in some newly built buildings it reaches 100 liras. This amount is approximately one third or even less than the building charge in residential towers and city centers, and in this regard, it is completely affordable and economical.

✓ Reasonable price of normal apartments

The next advantage of buying a residential apartment in Turkey is the reasonable and relatively cheap price of these properties. Given that normal apartments do not have common areas and special facilities, they require a smaller budget for purchase. Generally, in a given area or neighborhood, the normal price of an apartment is lower than the price of apartments in the city and residential complexes.

Price of buying a residential apartment in Turkey

Although the influence of macroeconomic policies by politicians is one of the factors that affects pricesIt is true, but other factors also affect the price of buying a residential apartment in Turkey. Turkey needs about 800,000 residential units per year to meet domestic demand. Annual production is less than 500,000 residential units. The private and public sectors together provide these 500,000 units. This means that Turkey is currently short of at least 300,000 residential units.
In addition, 11 provinces in Turkey need immediate reconstruction after the earthquake, and many old apartments also need renovation or even reconstruction. If we add the effect of the increase in the dollar and the increase in the economic inflation rate in Turkey to this, the price of buying a residential apartment in Turkey will always be on an upward trend. So even if you decide to buy an apartment in Turkey today, you have bought at the best price.
Of course, by receiving advice from the Turkish Home Team, you can find a normal apartment that, in addition to having complete amenities, also has a reasonable price.

Price of buying a residential apartment in Turkey in Iranian currency

Estimating the price of buying a residential apartment in Turkey in Iranian currency is a bit difficult due to exchange rate fluctuations. However, considering the average daily price of the dollar (50 thousand tomans), to buy an apartment unit worth approximately 400 thousand dollars and with the aim of obtaining Turkish citizenship, you need a capital of about 20 billion tomans.
Of course, with a smaller budget of around 3-4 billion Tomans, you can buy a 60-70 square meter one-bedroom apartment in the pleasant and climate-friendly areas of Istanbul, Ankara and Izmir and use that document to obtain Turkish residency.

Rules for buying and selling residential apartments in Turkey

The most important rules regarding buying and selling residential apartments in Turkey are:
If your intention in buying a residential apartment is to obtain Turkish residency or passport, you must comply with the minimum investment value law. The minimum investment amount for purchasing a residential property with the aim of obtaining residency is $75,000 and $400,000 for obtaining citizenship.
If your goal in investing in real estate in Turkey is to obtain residency in this country, you should make sure that the residential apartment you are looking for is not in “restricted areas”. Restricted areas are neighborhoods where at least 25% of the residents are foreigners. The list of these neighborhoods is registered on the website of the Turkish Immigration Office.
The apartment document you are planning to buy has not been previously used by another foreigner to obtain a passport, because in this case you cannot apply for citizenship and a Turkish passport with that document.
Only one family can apply for citizenship with the document of one apartment unit.
The property amount must be deposited in one of the official banks in Turkey in dollars, euros and pounds.

Documents required to buy a residential apartment in Turkey

Documents required to buy a residential apartment and to register the property in the name of the property are:

Documents required to transfer the document

1. Official translation and original copy of the buyer’s passport
2. Obtaining the buyer’s tax number
3. Completing the identity information form
4. Property value expert report
5. Current property document
6. Seller’s ID card

Other required documents

1. Deposit tax in the name of the deed (equivalent to 4% of the declared purchase price of the property to the tax office)
2. Pay the fee related to the compulsory earthquake insurance (DASK)

The best cities in Turkey to buy a residential apartment

Turkey has very attractive cities to buy a residential apartment, including:

Istanbul City

Istanbul, as the capital of Turkey and one of the most populous cities in the country, offers many opportunities to buy an apartment residential. Istanbul is a beautiful, ancient and cultural city with incredibly attractive natural landscapes. According to the REIDIN report, this city ranks first in terms of real estate investment profitability and second in terms of rental income. In addition, the city’s amenities, medical, recreational and educational facilities are advanced and up-to-date in every way. We recommend that you enter the page for buying property in Istanbul for more information. In this section, by clicking on each of these houses, you can see photos and information about it.

Ankara City

Ankara is one of the best cities selected for investment and purchasing residential property. As the administrative capital of Turkey, Ankara is one of the most populous cities in the country and provides many job opportunities due to strong industrial growth and a dynamic and growing property market. According to the REIDIN report, this city ranks first in terms of profitability in terms of coldReal estate investment ranks second and rental income ranks third.

Izmir City

Izmir is a large and important city on the west coast of Turkey and the third largest city in the country. The city has a large port, beautiful scenery and a rich culture. The property market in Izmir is dynamic and buying an apartment in this city can be considered as a suitable option. According to the REIDIN report, the city ranks third in terms of real estate investment profitability and fourth in terms of rental income.

Antalya City

Antalya is one of the popular tourist destinations in Turkey and an attractive city to buy a residential apartment and live in. The city has a Mediterranean climate, beautiful beaches and numerous recreational facilities. According to the REIDIN report, the city ranks fourth in terms of real estate investment profitability and first in terms of rental income. In addition to the cities we introduced, Turkey also has other cities and regions, including Bursa, Adana, Konya, Kayseri, Denizli, Van, Şanlıurfa and Manisa. Choosing each of these cities depends on your investment goal and the amount of budget you have allocated for this.

Important points when investing in Turkey by buying a residential apartment

There are several important points about investing in Turkey by buying a residential apartment, which we will explain below:

City and neighborhood of the desired property

Before you buy When buying a residential apartment in Turkey, be sure to choose the city and neighborhood of your choice with the help of a real estate consulting team that knows the different regions of Turkey well. Especially if you plan to immigrate and live in Turkey, pay attention to facilities such as proximity to shopping centers, medical centers, schools, universities and public transportation.

Buying a property in cash or installments

To buy a residential apartment in Turkey, you can either buy it in cash or in installments. This depends on your budget and of course your personal preference. Because some newly built units have also provided the possibility of installment purchase for foreign buyers.

How to transfer money to Turkey

As you know, the purchase price of an apartment must be paid in dollars, euros or pounds. Given that the amount in question is a significant amount, it cannot be transferred in cash. The best and safest way to transfer money to buy a residential apartment in Turkey is through reputable and Iranian exchange offices located in Turkey. These exchanges charge lower fees compared to domestic exchanges.

Consultation on Buying a Residential Apartment in Turkey with Home Turkish

Buying a residential apartment in Turkey and large cities like Istanbul is not an easy task and requires a lot of experience, knowledge of good properties and neighborhoods, and familiarity with the Turkish property and housing market. Therefore, we recommend that you definitely seek help from a professional Iranian real estate consulting team like Home Turkish Holding when buying an apartment in Turkey.
Home Turkish Real Estate Consulting Holding, as a specialized, trusted and experienced team in the field of consulting on buying and selling apartments and all types of residential, office and commercial properties in various cities in Turkey, offers you the best areas with reasonable prices and capital growth potential so that you can multiply your capital while taking advantage of the attractive benefits of Turkish residency and passport.