Property in Antalya with a residency permit
Properties in Antalya, Turkey, are highly sought after by foreign buyers due to the city’s large expatriate community, well-developed social infrastructure, excellent leisure and entertainment facilities, and high profitability. An additional benefit is the government programmes that allow individuals to obtain residence permits and Turkey citizenship by investment in real estate.
The local real estate market offers a wide variety of studios, apartments, and penthouses located in complexes with pools, gyms, playgrounds, and other amenities. Townhouses, villas, and undeveloped plots of land are also available for purchase.
The robust tourism industry and rapidly expanding economy have led to a rise in the value of real estate for sale in Antalya, particularly in popular areas such as:
- Kaleiçi: The historic centre of the city, offering a wide range of restaurants, bars, and shops. Cobblestone streets, Roman, Byzantine, and Ottoman-era structures, old stone houses, viewing platforms, and souvenir shops make housing in this area highly attractive to tourists.
- Konyaaltı: Exclusive properties along the extensive coastline with developed infrastructure offer breathtaking views of the Mediterranean Sea and the Taurus Mountains. The beach, covered with fine pebbles and sand, has been awarded the Blue Flag for its clean and clear water, making local housing popular with families.
- Lara: Known as the Las Vegas of Turkey, the beach hosts numerous luxury hotels as well as premium and high-end homes. Clubs, shopping centres, restaurants, and a variety of water sports opportunities, such as kitesurfing and windsurfing, make it an ideal location for leisure.
Residence permit in Turkey by buying property in Antalya
Foreign nationals can obtain a residence permit in Turkey by buying property in Antalya. To qualify, they must invest in one or more properties of any type with a total value of at least USD 200,000. The process of obtaining resident status for the primary applicant and their family members typically takes around 1–3 months. The residence permit is issued for a period of 2 years. The investor is entitled to renew the permit as long as they retain ownership of the property.
After residing in the country with a residence permit, residents may apply for naturalisation and obtain Turkish citizenship. Foreigners also have the option to acquire a Turkish passport immediately by investing in property in Antalya or another city with a minimum value of USD 400,000. Turkish law allows for dual citizenship, so applicants will not be required to renounce their original nationality.
Investment real estate in Antalya
The following factors make property for sale in Antalya attractive for foreign investors:
- Growing economy. The city significantly contributes to Turkey’s economy through its rapidly expanding tourism, agriculture, and industrial sectors. The local government is keen on supporting its growth and is investing heavily in infrastructure. Recent initiatives include expanding the railway network and the international airport. Such projects have led to increased demand and rising property prices in Antalya.
- Strong tourism industry. The city welcomes approximately 16 million international visitors each year. The popularity stems from well-maintained beaches and numerous cultural attractions, such as Hadrian’s Gate and the Tekeli Mehmet Pasha Mosque. With a tourist season lasting 9 months, the rental demand remains consistently high.
- Government incentives. The Turkish government continues to introduce new initiatives to attract foreign investment. In addition to the programme allowing a residence permit in Turkey through a real estate purchase, it offers incentives such as tax breaks and the allocation of land for investment in specific sectors of the economy.
These factors contribute to the high demand for properties in Antalya for investment purposes as they drive real estate prices up and provide substantial rental income. From January to August 2024, the average price of apartments and houses in Turkey increased by 76.37%, with housing prices in the city rising by 135.67%.
The average rental yield ranges from 5.17% to 6.05% annually, depending on various sources. Homes located near beaches and major attractions tend to generate higher returns from short-term rentals.
FAQ
The purchase of houses and apartments in Turkey is prohibited for citizens of Syria, Armenia, Cyprus, Cuba, Taiwan, North Korea, and Eritrea. There are also specific restrictions for citizens of certain countries, such as Russians, who are not permitted to own real estate on the Black Sea coast.
In all other cases, foreigners are allowed to purchase various types of real estate, including residential and commercial properties, as well as land. Exceptions apply only to properties located near military infrastructure and land plots exceeding 30 hectares in size.