Real estate residency is one of the topics and conversations that have been talked about a lot, and it is one of the most important types of residency in Turkey at all, and due to the importance of this topic to many of our clients, the editorial team at Right Way Real Estate Company has to provide you with a detailed report on everything related to it and the latest updates that have occurred on her.
Everything you want to know about this topic is presented to you through this article.
Latest real estate residence news in Turkey:
A few days ago, a new decision was issued for those wishing to obtain real estate residence in Turkey, and there are specific conditions that must be adhered to, as follows:
- The property price must be a minimum of $75,000.
- The property must be intended for housing.
- The property should not be within a security or military area.
It should be noted that there are no other conditions related to the size of the property or its specifications, and it is one of the most easy types of residency in Turkey to obtain. Add to your information that it can be renewed annually as long as the foreigner is the owner of the property.
The most important advantages of obtaining real estate residency:
Many foreigners and investors have chosen to obtain real estate residency due to the many unlimited privileges they can get.
- Residing in Turkey legally without being subjected to any violation.
- The possibility of moving between the Turkish states with great comfort and without any restrictions.
- Travel to and from Turkey without the need to obtain a travel permit.
- Granting it to all family members, i.e. the wife and children under the age of 18.
- The holder can benefit from a lot of advanced medical and educational services, whether in government or private institutions.
- After eight years, you can apply for permanent residence.
- If the price of the property is four hundred thousand US dollars or more, it is appropriate to apply for Turkish citizenship.
Important information about real estate residence in Turkey:
The foreigner's passport must be sufficient to cover the period of stay.
- In the event that all family members are going to apply for it, each member must submit his or her file separately.
- In the event that there is any deficiency or defect in the submitted papers or information, the applicant is given an opportunity to rectify the deficiency within thirty days.
- The required fees must be paid in local currency only.
- If the applicant is under the age of 18, he must accompany his parents.
- Make sure that you receive a receipt for the fees that you have paid and it must be stamped.
Steps to obtaining real estate residency:
In order to obtain this residence, you must follow several important steps and procedures, which are as follows.
- First, you must buy the right property for you in one of the Turkish states, and then extract the title deed.
- Visit the website that was specified by the competent authority and click on the part designated for those wishing to obtain it for the first time.
- You have to start preparing the necessary documents.
- Hand over all papers and documents to the responsible employee on the day specified for the interview.
- As stipulated by law, residencies are subject to evaluation for a period of 90 days, and later the response comes from the Immigration Department.
Documents required to apply for real estate residency:
A copy of the title deed (real estate title deed).
- The real estate appraisal document that determines the real property value.
- Earthquake insurance policy.
- Pay the fees for obtaining the residence real estate permit and get a notification about it.
- The applicant's health insurance policy.
- Four personal photos.
- For children under the age of 18, a stamped birth certificate must be presented.
The importance of buying real estate in Turkey:
Many foreign and Arab investors around the world choose to buy and own real estate in Turkey, so the purpose of that is only to obtain real estate residency. Certainly not, as there are many other reasons and motives that make anyone decide to buy real estate in Turkey.
Below we will indicate the most important advantages and benefits that will accrue to you by buying an apartment in Turkey.
1 - Appropriate and acceptable prices:
One of the first advantages of owning in Turkey is that prices are somewhat low compared to prices in Europe or America.
(Did you know that prices in Turkey are lower than Eastern Europe by 50 to 60 percent, while they are cheaper than prices in Western Europe by 80 to 90 percent) and this is what was stated by the American Times magazine.
Now many people will think that the quality of these properties is not a high level of sophistication and luxury or modern architectural style, but the reality is otherwise, as it is designed according to international standards.
2 - Diversity and multiple real estate options:
When we talk about the real estate market in Turkey, we are not referring to few or limited options. On the contrary, it is considered one of the richest real estate markets in the world in terms of a great diversity of options.
Apartments in residential complexes are considered the most in demand, according to official statistics. The reason behind the great demand for them is the desire to have a high-end life, as they are provided with all the service and recreational facilities that residents need in their daily lives.
3 - Prosperity and Economic Growth:
During the past years, Turkey witnessed great economic growth that it had never seen before, and it became one of the most important economic countries in the world and was able to enter the arena of competition with the most important European countries.
According to forecasts reported by a Spanish magazine, by 2030, the Turkish economy will be ranked fifth in the world, thanks to two things:
The first: the accelerated growth thanks to the strategic plans set by the Turkish government.
The second: the young demographics, while many European countries suffer from the demographic pyramid.
You certainly know that a successful and prosperous economy has a great impact on the various sectors and fields of the country, without exception.
4 - Desire to invest in real estate:
A wide category of people looking for real estate for sale in Turkey choose real estate investment to obtain a profit and an abundant return, especially since all indications say that Turkey is an ideal environment for this type of investment, the most important of which are:
- High population density, which increases the demand for buying real estate, especially apartments.
- Last year, Turkey ranked first in Europe in increasing apartment prices.
- The tourist factor, as Turkey sees a lot of tourists every year.
- Expectations that indicate a rise in real estate prices during the coming period.
- The many facilities provided by the Turkish government.
- Desire to obtain Turkish citizenship.
- Turkey's strong relations with the European Union countries.
- High quality real estate is just as important as real estate in Europe.
- It contains many important infrastructure projects.
You can follow our website constantly to be informed of all new developments in the real estate market in Turkey or any other details of interest to you, such as Turkish citizenship or real estate residence.. If you have any other inquiries, you can contact us directly without hesitation to get adequate answers.
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