Apartments in Turkey

Yes, you can. All foreigners are allowed to buy real estate in Turkey, except for citizens of seven countries: Syria, Armenia, Cyprus, Cuba, Taiwan, North Korea and Eritrea. For citizens of other countries, small restrictions may apply: for example, Russian citizens will not be able to buy real estate on the Black Sea coast.

When buying real estate for a specific amount, foreigners can apply for a Turkey residence permit or Turkey citizenship.

Foreigners can get a residence permit or citizenship in Turkey if they purchase an apartment. To get a residence permit, you need to buy an apartment worth:

• $50,000 or more — in small cities of the country, such as Alanya or Fethiye;
• $75,000 or more — in metropolitan areas, such as Istanbul or Izmir.

Turkish citizenship is issued for the purchase of one or more apartments for a total amount of $400,000 or more. The main condition: choosing an apartment that has never been purchased by other investors who participated in the citizenship program.

The apartment price range in Istanbul is wide — from $170,000 to $8,000,000 approximately. The price of an apartment depends on the city area, the prestigiousness

of the residential complex, the sea proximity, and other factors. For example, a one-room apartment of 63 m² in the city centre costs about $550,000, and a similar apartment on the city outskirts costs about $200,000.

The cost of real estate in Alanya is almost the same as the national average: about $912 per 1 m². A studio apartment in the centre of Alanya costs approximately $120,000, and a studio on the seaside costs about $200,000.

On average, apartment prices in Turkey grow by 6.7% every quarter. Residential real estate prices grow especially fast in Istanbul, Antalya, Izmir, and Ankara. In 5—10 years real estate in these cities can be resold for a price that is 2—3 higher. 

In Istanbul and Ankara, apartments can be rented out all year round — for example, to students or foreign businessmen.