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December 17, 2021

What are the best places to buy Real Estate in Turkey for Russian Investors?

According to our experience, Russian Investors prefer houses and apartments in Antalya and Alanya, on the Mediterranean coast. For example, Russian buyers are less interested in Istanbul and Bursa, whereas many other foreign buyers buy real estate in Turkey.

A typical Russian investor is 35- 50 years old. Usually, they come from big cities in Russia. These Russian customers see buying a home in Turkey as a summer villa for a long vacation with their children and other relatives. Turkey is a beautiful country with a perfect warm climate, delicious food and fresh fruits and vegetables all year round.

Many Russians buy apartments in Turkey’s vacation area for investment purposes. The new Turkish Citizenship Regulations are also one of the reasons Russians are investing in Turkish real estate. In 2018, Ankara simplified the rules for obtaining citizenship. To get a Turkish passport, you had to invest $1 million in real estate in advance. Now $ 250,000 is enough.

Turkish passports provide visa-free access to Japan and Singapore, and Russian citizens interested in the Asian market may be interested in Turkish citizenship. At the moment, interest in European real estate is declining and interest in Turkey is rising. According to Russia’s Forbes, Russia’s interest in Spanish assets is diminishing. In 2018 Spain submitted more than one-third (35.1%) of all applications and in 2019 only 18.4% of applications.

Turkey Citizenship Investment Options

Become a permanent resident of Turkey by choosing one of the following three qualifying investment options. The requirement for maintaining the investment is a minimum of 3 years from the date the residence permit is granted.

1. Property Acquisition From $250,000

  • Acquire residential or commercial property with a deed restriction not to sell for 3 years from the date of purchase, Investors have the right to acquire several properties, as long as the total amount complies with the requirements.
  • The property can be let for rental income, or sold after 3 years from acquiring citizenship, without affecting the applicant’s citizenship.

2. Capital Transfer From $500,000

  • Fixed-asset investment confirmed by the Ministry of Industry and Technology OR
  • Deposit $500.000 cash in a Turkish bank for a minimum of 3 years OR
  • Buy government bonds with the potential to receive interest as income, Investments to be kept for 3 years.

3. Creation of 50 Jobs or Business Investment

  • Set up a business and create jobs for at least 50 Turkish employees.

LONDON BASED SOLUTIONS ADVISERS – Turkey Citizenship by Investment 

Full Support with our Immigration Advisers & Property Consultants:

Property search based on your requirements (from residential properties to high-value luxury developments)

  • Property virtual tours, 3-D tours, and in-person tours are available.
  • Due diligence checks and additional property checks are completed by our experts.
  • Residency & Citizenship document preparation and submission.
  • Full support until you receive your second passport & residency.

Mann’s Solutions is an international immigration law firm with offices in London, Hong Kong, and Moscow.

Photo by Dima Pima on Unsplash