Advantages of Real Estate Residency in Turkey | Your Ideal Choice for Settling Down

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Would you like to live in a country that blends the charm of the East with the modernity of the West, where breathtaking nature meets rich culture, and where investment opportunities align with a unique quality of life? This is not just a dream; it is a reality made possible by the Advantages of Real Estate Residency in Turkey.

If you are looking for a comfortable way to secure your presence in Turkey with your entire family, regardless of nationality, or if you aspire to invest in a property that offers good financial returns while providing a stable environment of comfort and luxury, then Turkey is your ideal destination.

In this article from DeCorner Homes, we will take you on a tour to explore the main Advantages that make Real Estate Residency in Turkey the optimal choice for achieving all your goals.

 

What is Real Estate Residency in Turkey?

Real Estate Residency in Turkey is a privilege granted to foreigners after purchasing a property. It is one of the government incentives to encourage real estate investment in Turkey.

This residency also allows the holder to issue residency permits for their spouse and children under the age of 18. Typically, Real Estate Residency lasts for one or two years and can be renewed as long as the owner retains the property.

Real Estate Residency in Turkey is classified among the short-term and convenient residency options compared to other types of residencies in Turkey.

 

Advantages of Real Estate Residency in Turkey

After obtaining Real Estate Residency, you will enjoy numerous Advantages that open doors to a comfortable life and smart investment! Below are some of the main advantages of Real Estate Residency in Turkey 2024, making it an appealing option for those seeking stability and promising opportunities.

 

1.   Residency Permit in Turkey

The property owner and their family enjoy all the Advantages  of Real Estate Residency in Turkey, including the freedom to travel within the country, and to enter and exit without the need for visas or prior procedures. This provides the flexibility and ease often sought by expatriates.

 

2.   Strength of Real Estate Residency in Turkey

Real Estate Residency in Turkey surpasses tourist residency in several aspects. It is easier to renew and offers longer durations, making it a more stable and secure option for investors and those seeking a stable life in Turkey.

 

3.   Opening a Turkish Bank Account

With Real Estate Residency, you can open a bank account at any government or commercial bank in Turkey. This account allows you to manage your money, receive and send financial transfers, and handle your finances with complete flexibility.

 

4.   Obtaining Foreign Travel Visas

You can apply for visas to enter foreign countries through their embassies in Turkey. This facilitates global travel and grants you the freedom to move between countries.

 

5.   Driving License in Turkey

One of the Advantages of Real Estate Residency is the ability to apply for a Turkish driving license. This allows you to travel freely within the country and enjoy driving with ease.

 

6.   Car Ownership

With Real Estate Residency in Turkey, you have the right to obtain a driving license for vehicles or to exchange your previous license from another country. You can also own and register a private vehicle in your name, enabling personal mobility and convenience.

 

7.   Medical Insurance

Medical insurance is essential in any country, and it is a requirement and benefit of Real Estate Residency in Turkey. It provides comprehensive coverage within various Turkish hospital and medical center networks, ensuring optimal medical care for you and your family.

 

8.   Education Rights

With a residency permit in Turkey, you have the right to enroll in Turkish educational institutions. This opens doors to excellent education opportunities through universities and schools in one of the leading educational countries.

 

9.   Turkish Citizenship through Real Estate Investment

One of the advantages of Real Estate Residency in Turkey is that the holder can apply for Turkish citizenship once their property investments exceed $400,000.

This is subject to the other requirements of the new Turkish citizenship law. It paves the way to obtaining a Turkish passport and enjoying all the Advantages it offers.

 

Minimum Requirement for Real Estate Residency in Turkey

To qualify for a Real Estate Residency in Turkey, you need to accurately assess the value of the property you plan to buy.

The minimum required price is set at $200,000. Ensure that the property’s value is correctly stated in the real estate appraisal report and converted into Turkish lira at the central bank's exchange rate, to meet the residency criteria successfully.

It's important to note that the minimum investment threshold for obtaining residency through property purchase in Turkey was raised from $75,000 to $200,000 starting October 2023. This change does not affect properties purchased before this date.

 

In Conclusion,

Real Estate Residency in Turkey offers a range of benefits, providing opportunities for smart investment and a comfortable lifestyle. Enjoy financial stability, exceptional perks, and even the chance to apply for Turkish citizenship.

This residency also simplifies your adaptation with valid local and international documentation and allows you to experience a high-quality life with ample opportunities.

 

Take the first step by buying a property in Turkey

At DeCorner Homes, we are ready to assist you with over 10 years of expertise in the Turkish real estate market. We offer free real estate consultations, present a curated selection.of our top projects and opportunities, and support you with all legal processes, including obtaining the new title deed, transferring ownership, and securing Real Estate Residency for you and your family.

Act now—request your free consultation and get in touch with us to take advantage of Real Estate Residency in Turkey in 2024. Note that the minimum property value required in Istanbul for residency might increase.

 

Edited by: DeCorner Homes ©

Source: Ministry of Interior - General Directorate of Migration Management