Apartments and flats for sale in Turkey

Apartments in Turkey with residence permit

Foreigners invest in apartments and flats in Turkey to get a source of high profits or a first-class holiday destination. This category of housing also attracts expats wishing to settle in the Republic for a long period of time, as it is characterised by an optimal price-quality ratio and allows you to buy an apartment in Turkey and get a residence permit.

Local complexes offer a well-developed infrastructure with modern amenities. These may include swimming pools for adults and children, playgrounds, and sports areas. Some premium projects also include a cinema, sauna, co-working space, library, restaurant and more.

Buyers can choose between studios, 1- to 4-bedroom flats, duplexes and penthouses. The most common layouts of apartments for sale in Turkey include a living room combined with a dining area and kitchen, a hallway, bathrooms and a balcony. The local market also offers housing units with walk-in wardrobes, study, laundry room and spacious terraces with a personal pool or Jacuzzi.

The most common destinations to buy apartments in Turkey for investment, holiday, or permanent residence include the following cities:

1. Istanbul. The country's largest city with a developed tourism industry, a strong labour market and an established transport system with an international airport. This has created a large expat community that supports the high demand for accommodation.
2. Antalya. This is one of the most desirable locations for foreigners interested in purchasing apartments for seasonal holidays and/or rental income. The city is the most popular tourist destination. The pleasant climate with 300+ days of sunshine per year, clean sandy beaches and the presence of 2 airports make it an ideal location for a holiday abroad.
3. Bodrum. The local property sector is diverse in terms of architecture. Here you can find objects in both traditional and modern styles. Some developers combine them in one project, which attracts foreign buyers.

Residence permit in Turkey by buying an apartment

Investment in one or more properties of any type allows a foreigner to apply for a residence permit in Turkey. The cost of apartments in Turkey, purchased under the immigration programme, must be at least $200,000.

The residence permit procedure may take from 1 to 3 months. It is allowed to include the investor's spouse and close relatives in the application, so this is a great option for people who want to move with the whole family. The resident card is valid for 2 years. It can be renewed as long as the foreigner continues to own property in Turkey.

After 5 years of residency in the state, the investor will be able to apply for citizenship through naturalisation. Foreigners who have invested $400,000 or more in local property can immediately apply for a passport. To retain Turkey citizenship by investment, they need to hold the ownership for 3 years.

Investment apartment in Turkey

In August 2024, the value of residential real estate in the country increased by 76.37% year-on-year. This trend has been continuing for several years. Thus, in 2023, prices increased by 71.784%, in 2022 by 178.6% and in 2021 by 64%, according to various data. Foreigners can make significant profits from ownership of flats for sale in Turkey in the long term. To maximise profit, many purchase properties in the early stages of construction.

Another common earning strategy among investors is renting. The average return on real estate in the country reached 7.13% per annum in Q2 2024. Landlords' profits largely depend on the location of the apartments. An apartment for sale in Turkey offering easy access to the beach and popular attractions can bring up to 10% per annum or more.