Manuel Garrido
Investing in real estate abroad can be profitable, but it can also be complex. Turkey real estate investment stands out in 2025 for its combination of rising property values, high rental yields, and the possibility of gaining Turkish citizenship through property ownership.
The benefits are clear: a growing market, strategic location, and strong demand in key cities like Istanbul, Antalya, and Izmir. But foreign buyers face challenges—legal requirements, market fluctuations, and unfamiliar regulations.
This guide breaks down everything you need to know:
Overview of the Turkey Real Estate Market
The Turkish real estate market is experiencing significant growth in 2025, driven by urbanization, foreign investment, and government incentives. The residential real estate market is projected to reach USD 110.10 billion in 2025 and further grow to USD 186.87 billion by 2030, exhibiting a Compound Annual Growth Rate (CAGR) of 11.16% during the forecast period.
In Istanbul, the average house price soared by 29.6% in January 2025 compared to last year.
Who can buy property in Turkey?
Residents
Turkish citizens and legal residents have unrestricted rights to buy property in Turkey. Whether purchasing for personal use, rental income, or investment, residents can freely acquire residential or commercial properties, register ownership, and benefit from government-backed incentives.
Non-residents
Foreign investors are permitted to purchase real estate in Turkey, with some conditions. Citizens from most countries can purchase property as long as it is not located in military forbidden zones or security zones. A foreign national’s total landholding cannot exceed 30 hectares nationwide.
Foreigners must obtain a tax number and an appraisal report and complete the title transfer through the Land Registry Office. Legal due diligence is critical to ensure a secure transaction and avoid disputes.
Turkey’s legal framework is structured to protect foreign buyers and encourage global real estate investment.
What are the Benefits of Real Estate Investment in Turkey?
Investing in Turkey offers multiple advantages for both local and international investors:
- High return on investment (ROI): Properties in major cities like Istanbul and coastal regions like Antalya offer rental yields between 5% and 9%, with strong long-term capital appreciation.
- Affordable real estate prices: Compared to Europe, Turkish real estate prices remain highly competitive, allowing investors to enter the market at a lower cost and benefit from future growth.
- Citizenship by Investment: By investing a minimum of $400,000 in real estate, foreign buyers may become eligible for Turkish citizenship by investment, provided the property is held for at least three years.
- Growing tourism and rental demand: Turkey’s thriving tourism sector supports strong rental income potential, especially for short-term rentals in popular destinations.
- Government incentives and infrastructure: The Turkish government actively supports property development with infrastructure upgrades, tax benefits, and legal protections for foreign investors.
- Strategic geographical location: Situated between Europe, Asia, and the Middle East, Turkey serves as a central hub for trade, travel, and investment, increasing its real estate appeal.
Read our Turkey Citizenship by Investment Guide
Process of Buying Property in Turkey for Expats
Buying Turkish real estate as a foreign national is straightforward when following the correct legal and administrative steps. Here’s a clear breakdown of the process:
- Choose a property: Select the property type (residential, commercial, or off-plan) that aligns with your investment goals. Use registered agents to ensure legitimacy.
- Get a tax number: Required for all legal and financial transactions. You can obtain this from any local tax office with your passport.
- Open a Turkish bank account:Necessary for money transfers and completing the purchase. Banks may request proof of income and a utility bill from your home country.
- Appraisal report: A government-certified appraisal report is mandatory to determine the market value of the property and prevent inflated sales.
- Legal due diligence: Engage a lawyer to check for any debts, legal restrictions, or disputes tied to the property. This includes verifying that it’s outside military forbidden zones and security zones.
- Sign the sales agreement: After due diligence, a sales contract is signed and a deposit (typically 10%) is paid.
- Title deed transfer at the Land Registry Office: Once payments are settled, ownership is officially transferred. Both buyer and seller (or their legal representatives) must be present at the Land Registry Office.
Property Costs in Turkey
City | Average Price per m² (USD) | Starting Price for 1-Bed Apartment | Property Type Availability |
Istanbul | $1,450 – $1,800 | $70,000 – $100,000 | Apartments, Villas, Commercial Properties |
Antalya | $1,200 – $1,500 | $60,000 – $90,000 | Apartments, Villas, Vacation Homes |
Ankara | $900 – $1,200 | $50,000 – $80,000 | Apartments, Commercial Offices |
Izmir | $1,100 – $1,400 | $55,000 – $85,000 | Apartments, Villas, Coastal Properties |
Alanya | $1,000 – $1,300 | $50,000 – $75,000 | Apartments, Resort-Style Developments |
Bursa | $950 – $1,150 | $45,000 – $70,000 | Residential Apartments, Commercial Units |
Note: Prices are estimates based on 2025 market reports and may vary depending on currency rates and individual sale terms.
Types of Property in Turkey
Turkey offers a diverse range of property types catering to different investment strategies.
Residential properties
These are the most popular choices for foreign investors and include:
- Apartments: Common in urban centers like Istanbul and Izmir, ideal for long-term rentals or personal use.
- Villas: Often located in coastal or suburban areas, suitable for short-term vacation rentals and higher-end property investment.
- Townhouses: Found in gated communities, offering privacy and shared amenities.
Commercial properties
These include spaces used for business activities and are attractive for investors seeking consistent income:
- Retail stores and offices: Located in central business districts or growing urban zones.
- Warehouses and industrial units: Found in logistic hubs or export-oriented regions.
- Hotel and hospitality properties: In high-tourism zones like Antalya and Bodrum, offering strong seasonal returns.
If the value criteria are met, investing in commercial properties may also qualify buyers for Turkish real estate citizenship under the investment program.
Off-plan properties
These are properties purchased during construction, typically at lower prices with flexible payment terms (e.g., two equal installments):
- Price advantage: Lower entry cost compared to ready properties.
- Value growth: Potential for significant capital gain once construction is complete.
- Customization: Opportunity to influence design or layout choices during development.
New Properties vs Resale Properties in Turkey
Feature | New Properties | Resale Properties |
Availability | Under construction or recently completed | Already built, previously owned |
Condition | Brand new, modern standards, no prior use | May require renovation or maintenance |
Location | Often in new development zones | Typically, in central or established neighborhoods |
Possession | Depends on the project delivery schedule | Immediate transfer of ownership |
Pricing | Higher due to modern design and features | More negotiable, may offer better value |
Payment Terms | Flexible options (e.g., two equal installments) are available | Full payment is usually required upfront |
Legal Documentation | Provided by the developer, usually clean and up-to-date | Requires careful verification of title deed and land registry |
Rental Income Potential | Medium to high (post-completion) | Immediate rental income possible |
Capital Appreciation | High potential in emerging areas | Steady in well-established districts |
Citizenship Eligibility | Often designed to meet Turkish citizenship investment thresholds | Eligible if value meets required minimum |
Rental Opportunities in Turkey
Turkey’s strong tourism sector, growing expat population, and affordable property prices make it a hotspot for rental opportunities. Investors can generate steady rental income from long-term residential leases and short-term vacation rentals.
Rental income potential
City | Average Rental Yield | Rental Demand Drivers |
Istanbul | 5% – 7% | Business hub, expats, students, tourism |
Antalya | 6% – 8% | Tourism, seasonal rentals, coastal appeal |
Izmir | 5% – 6% | Growing tech sector, expat community |
Ankara | 4.5% – 6% | Government workers, universities |
Alanya | 6% – 9% | Short-term rentals, holiday destination |
Short-term rentals: Platforms like Airbnb are legal and widely used in tourist cities. They offer higher yields but require active management.
Long-term rentals: Ideal for residential areas and cities with steady populations like Ankara and Izmir. Lower turnover and stable income make them suitable for passive investors.
Where to Buy Property in Turkey
Each region offers unique benefits depending on your investment strategy, whether you’re focused on rental income, capital appreciation, or lifestyle.
Istanbul remains the most in-demand city for real estate. As Turkey’s financial and cultural center, it offers strong infrastructure, a large tenant base, and consistent rental yields. Investors benefit from a wide selection of property types, from modern apartments to commercial offices. Central districts like Şişli, Beşiktaş, and Kadıköy are especially attractive for long-term rentals.
Antalya is a top choice for vacation rental investors. Located on the Mediterranean coast, it attracts millions of tourists each year. Properties in Antalya—particularly in Konyaaltı and Lara—are ideal for short-term rental income and seasonal profits.
Izmir, known for its livability and growing expat population, offers a mix of coastal charm and urban convenience. The city’s real estate is appealing for both lifestyle buyers and investors seeking long-term rental opportunities. Areas like Alsancak and Karşıyaka are particularly popular.
Ankara, Turkey’s capital, is a stable investment destination. The city has consistent rental demand due to its large student population, government workforce, and professional class. It’s well-suited for residential and commercial properties alike.
Alanya offers high rental yields at lower entry costs, making it ideal for budget-conscious investors. Its strong tourism sector supports short-term rentals, especially in seaside areas like Mahmutlar and Cleopatra Beach.
Bursa and Mersin are emerging cities gaining attention for affordability and infrastructure development. Bursa, located near Istanbul, benefits from industrial growth and urban transformation. Mersin is a growing port city with low real estate prices, ideal for entry-level investors focused on long-term value.
Turkey Property Tax
Property taxes vary based on property usage—residential, commercial, or rental—and are enforced at both the municipal and national levels.
Taxes on property in Turkey:
- Property Purchase Tax: Typically 4% of the property’s market value, split between the buyer and seller unless agreed otherwise.
- Annual Property Tax: Depending on property type and location, it ranges from 0.1% to 0.6% of the registered market value.
- Value Added Tax (VAT): New properties may incur VAT, usually at 1% or 18%, though exemptions exist for first-time foreign buyers under certain conditions.
- Capital Gains Tax: Applies if a property is sold within five years of purchase. The rate depends on the gain and ranges from 15% to 40%.
Rental income taxation
Foreign and local landlords earning rental income in Turkey are subject to progressive taxation. For 2025, the system is structured as follows:
- Exemption threshold: Annual rental income up to TRY 47,000 (approx.) is exempt.
- Tax rates: Income above this threshold is taxed progressively:
- 15% on income between TRY 47,001 and TRY 110,000
- 20% on income up to TRY 230,000
- 27% on income up to TRY 600,000
- 35% and 40% for higher brackets
- Allowable deductions:
- 15% lump-sum expense deduction (no documentation required)
- Alternatively, actual expenses such as maintenance, insurance, and management fees can be deducted with receipts
- Declaration deadline: Rental income must be declared annually in March for the previous calendar year.
How Can Global Citizen Solutions Help You?
Global Citizen Solutions is a boutique migration consultancy firm with years of experience delivering bespoke residence and citizenship by investment solutions for international families. With offices worldwide and an experienced, hands-on team, we have helped hundreds of clients worldwide acquire citizenship, residence visas, or homes while diversifying their portfolios with robust investments.
We guide you from start to finish, taking you beyond your citizenship or residency by investment application.
Frequently Asked Questions About Turkey Real Estate Investment
Is Turkey a good place to invest in real estate?
Yes. Turkey offers a growing real estate market, attractive property prices, high rental income potential, and the added benefit of qualifying for Turkish citizenship through property investment.
Can foreigners buy property in Turkey?
Yes. Most nationalities can buy property in Turkey, with some restrictions on location (e.g., military forbidden zones). Buyers must comply with the legal process, including obtaining a tax number and an appraisal report.
What are the benefits of investing in property in Turkey?
Benefits include affordable real estate prices, strong rental yields, eligibility for residence permits and citizenship, and long-term capital growth in a strategically located market.
What is the process for foreign nationals to buy real estate in Turkey?
Foreigners must select a property, obtain a tax number, open a local bank account, secure an appraisal report, and transfer ownership at the Land Registry Office. The process typically takes 3–6 weeks.
What types of property are available for investment in Turkey?
Options include residential properties (apartments, villas), commercial properties, and off-plan projects. Each caters to different investment goals, such as rental income or capital appreciation.
Is rental income in Turkey taxable for foreigners?
Yes. Rental income is subject to progressive tax rates from 15% to 40%. Annual income below a set threshold is exempt. Deductions are allowed for maintenance and related expenses.
Which cities in Turkey offer the best real estate investment opportunities?
Top cities include Istanbul, Antalya, Izmir, and Ankara. Each offers a unique mix of demand, location benefits, and property type options suited for investment.
How much do apartments cost in Istanbul?
Prices vary by district but generally start around $70,000 for a 1-bedroom apartment. Central areas command higher prices and more substantial rental income potential.
Can I get Turkish citizenship by investing in real estate?
Yes. Under the citizenship program, an investment of at least $400,000 in real estate with a three-year holding period qualifies for Turkish citizenship.
What are the legal requirements for foreigners buying real estate in Turkey?
Foreign buyers must comply with national laws, including restrictions on land size, location approvals, mandatory earthquake insurance, and a formal title deed transfer.
