Villas in Istanbul with residence permit
Buying villas in Istanbul for investment and living offers the opportunity to enjoy the picturesque coast at any time while also generating a high and stable income. The European part of the city includes popular districts such as Kilyos, Emirgan and Beylikdüzü, while the Asian side features Beykoz and Cengelkoy. A foreigner can buy a villa in Istanbul both along the coast and in the green suburbs, although the central districts are predominantly occupied by high-rise buildings.
The metropolis offers a variety of housing options, ranging from small 2-3 bedroom cottages to luxury mansions with private gardens and swimming pools. Gated villa communities often include additional recreational and sporting facilities such as playgrounds, courts, spa and fitness centres, parks and green spaces, dedicated parking, 24-hour security and CCTV. Houses for sale in Istanbul, Turkey, often come with finishes, installed plumbing and essential communications. There are turnkey options available that include the necessary furniture and appliances. In some cases, a house for sale in Istanbul may also feature additional amenities such as dressing rooms and facilities for service personnel.
The average cost of villas in Istanbul in 2024 is USD 628,000 with the price per square metre at USD 2,260. The most affordable options start at USD 150,000, while luxury mansions can reach up to USD 70 million. The house prices in Istanbul vary based on numerous factors, including location, availability of exclusive amenities and overall size.
Residence permit in Turkey by buying a house in Istanbul
Foreign citizens can obtain a residence permit in Turkey by investing USD 200,000 or more in one or more properties. Residency status is granted to both the main applicant and their family members for two years, with the option to extend this period as long as the property title is retained. Buying villas in Istanbul allows foreigners not only to live in the country but also to access local healthcare and education systems. Additionally, after five years of residence, they will be eligible to obtain a Turkish passport while retaining their current one. There are also faster options available; foreigners can apply for Turkey citizenship by investment immediately by purchasing one or more properties for USD 400,000 or more.
Investment house in Istanbul
An investment villa in Istanbul is an attractive investment property for several reasons:
- Economic growth and stability: Steady economic growth, despite high inflation, creates favourable conditions for investing in a house in Istanbul;
- Rental income potential: The city attracts numerous tourists and business travellers, leading to a high demand for rental property in Turkey. Investors can anticipate returns of 6.6% per annum or more, especially in popular areas;
- Property variety and quality: A diverse range of homes is available, from modern villas for sale in Istanbul overlooking the Bosphorus to historic mansions. This variety allows investors to select properties that align with their preferences and goals;
- Attractive living and business environment: Istanbul boasts a high standard of living, appealing not only for investment but also for permanent residence.
Investors employing a resale strategy can expect a capital gain of up to 30% if they purchase properties at the initial stage of construction. Additionally, villa prices in Istanbul on the secondary market are steadily increasing.