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BLOG Is Now a Good Time to Buy Property in Turkey?

13 November 2020 / Properties

Deciding to invest in property is always a big step. That’s true whether it’s in your home country, because you’re making a permanent move abroad, or you want a holiday home you can rent out.

If you are considering buying property in Antalya, you’re bound to be wondering whether it’s a good idea to take the plunge. What we can tell you is that while there’s never a perfect time, the Turkish property market is thriving. More than 45,000 foreigners bought apartments or villas in 2019, both in the major cities and along the Mediterranean coast.

A favourable exchange rate

The value of the Turkish lira has dropped steadily in recent times. Currencies such as the US dollar, the Euro and GBP sterling go much further right now, meaning you can generally get more for your money than even a year ago.

Of course, this is not good news for local people who earn and live on the local currency. But from the perspective of overseas property buyers, investing in Turkish real estate now is a potentially lucrative move.

If you’re wavering over whether to buy that dream villa in Kalkan or a luxury holiday apartment in Side, you might be pleasantly surprised to learn it’s more affordable than you thought.

You could get Turkish citizenship

As an incentive to encourage more foreigners to buy property in Turkey, the government introduced the Turkish citizenship through investment scheme. Originally, you had to buy property worth $1 million in order to qualify, but two years ago this was reduced to just $250,000. There are some conditions, of course, such as not selling the property for three years. However, if you plan to live in Turkey permanently or spend considerable periods of time here, holding Turkish citizenship will make life much easier.

A relaxed lifestyle and better weather

Guaranteed sunshine and excellent value for money when it comes to food and entertainment are among the reasons why Turkey attracts thousands of holidaymakers each year. Even in 2020, with a shortened season due to the global pandemic, Antalya still welcomed more than 220,000 tourists in September alone. With mild winters and only around 60 rainy days each year, the province is a haven for expats and also attracts an increasing number of off-season visitors.

As well as the weather, the Turkish culture is a big draw for those seeking a move overseas. Daily life is more laidback and relaxed than in many western countries, while the Turks are renowned for being friendly and hospitable.

A cheaper option

Another reason many people choose to move to Antalya is a better standard of living compared to either their homeland or other popular retirement countries.

Utilities, food and other living costs are much lower than countries such as the UK. If you’re living on a pension, for example, what might just about be an adequate income in your homeland will allow you to live like royalty in Antalya.

Numbeo, the organisation which monitors living costs and conditions worldwide, says Turkey is some 51% cheaper than Spain, 61% cheaper than France, and 46% cheaper than Portugal. And while you might find some astonishingly cheap properties in all these countries, they’re likely to be in inaccessible rural areas and in need of considerable renovation.

Spoiled for choice

The beauty of buying property in Antalya is that there really is something to suit every taste and budget. You might long for a penthouse apartment in Alanya, but then decide a golfing villa in Belek is more your style. Perhaps you’ll fall in love with exclusive Kalkan and decide you want nothing more than to watch the sunset from your sea view terrace each evening, or maybe you’d prefer to live in a traditional stone house in a Turkish village on the outskirts of Antalya itself.

Wherever you choose, you won’t be too far from the region’s outstanding Blue Flag beaches, stunning scenery and many attractions.

An easy buying process

It’s natural to have concerns when it comes to buying property overseas. The process will be different than you’re used to; you’ll wonder how it works and be worried about potential issues and delays.

The good news is that, as well as being relatively simple, buying through Properties Antalya means you’ve got experts in your corner. We’re here to offer advice, answer all your questions, and hold your hand at every step. In fact, you could have the title deeds and the keys to your dream home in as little as three to six weeks.

Ready to make the move?

Feel free to browse our current portfolio here to get an idea of the properties on offer and decide which area you prefer. We’d be delighted to help you find your ideal home in Antalya, and make sure your purchase is completed as quickly and smoothly as possible.

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