Mar 24, 2020

Turkish citizenship by purchasing real estate property in Kemer

How to obtain Turkish citizenship in 2020? Investing in real estate in Kemer has become one of the easiest and fastest ways to obtain a second passport and dual citizenship Turkey for many foreign nationals. What are the benefits of having a Turkish passport to those who prefer to start a new life and become the owner of a real estate in Turkey? Read on to find out the answer to this and many other important questions.

Kemer is a beautiful seaside resort town in Turkey, located along the southern coast of the Mediterranean Sea. Recently, Kemer has attracted tourist interest from all over the world, with its serene seawaters, hills and pine forests.

However, today Kemer attracts not only seasonal tourists, but also many foreigners who are interested in buying residential real estate or commercial properties, considering that Turkish citizenship is available to relevant foreign investors who buy real estate.

Investing in real estate in a foreign country is an important decision. And when considering the feasibility of investing in the real estate market of any country, one should take into account a variety of factors such as the country’s economic development dynamics, its culture and popularity among tourists, as well as accessibility of transport facilities, infrastructure and many other factors.

And if you are considering the possibility of buying a real estate in Kemer with the objective to obtain Turkish citizenship by investment in real estate, there are a number of valid reasons why you should do it as early as in 2020.

Turkish citizenship by purchasing real estate property in Kemer – A promising real estate market

Experts acknowledged January 2020 as the best in the history of the Turkish residential real estate market, as sales of houses, with rapid growth of sales of apartments in the first month of the year. In quantitative terms, sales of Turkish residential real estate jumped 55.8 percent year on year in January, according to TurkStat national statistical agency . Moreover, growth has been observed for the third month in a row. It began after the Turkish Central Bank lowered interest rates on mortgages.

By means of mitigated  monetary policy of the Central Bank of Turkey has allowed state lenders and some private lenders, among other things, to reduce interest rates on mortgages, which played a key role in increasing residential sales. Official data show that mortgage sales of residential real estate increased 546 percent in the first month of the year. Residential real estate sales to foreigners also rose significantly – 23 percent year on year.

Experts note that this January was the most fruitful in terms of home sales to foreigners. January data showed that Iraqi citizens made up the largest group of foreign buyers with 739 houses and apartments purchased in Turkey. They were followed by Iranians with 678 sales, Russians with 254 transactions, and Afghans and Yemenis with 204 and 142 transactions, respectively.

If we consider the data for 2019 as a whole, it can be noted that about 1.35 million units of residential real estate were sold in the country, while foreigners bought about 45.5 thousand apartments and houses, which is 14.7 percent more than in the previous year .

It is noteworthy that the province of Antalya, which includes the resort town of Kemer, traditionally ranks second in the country in terms of the number of properties sold, after Istanbul and its neighborhood, as well as overtaking the capital Ankara. Analysis of the buyers’ nationality structure evidences the cosmopolitan structure of demand for residential real estate in Antalya.

While investors from the Gulf and the Middle East can buy housing throughout the city of Antalya, which is the center of the province of the same name, the Russians prefer Beldibi and Kemer, the Germans prefer Alanya and the surrounding areas, the British prefer Kaş and Kalkan, while the inhabitants of continental Europe give more preference to coastal areas.

Turkish citizenship by purchasing real estate property in Kemer – Affordable prices

According to experts, affordable real estate prices in Turkey as a whole and, in particular, the acceptable cost of real estate in Kemer, are among the top factors contributing to the growth of demand among foreigners. Given the devaluation of the Turkish lira, foreigners got an excellent opportunity to buy property in Turkey by the sea at a considerably discounted price.

It is noteworthy that in March 2020 the rate of the Turkish lira against the dollar reached the two-year low against the backdrop of the conflict in neighboring Syria as well as the panic associated with coronavirus outbreak, which, by the way, the local health system is prepared to counteract.

On the first Monday of March, the national currency of Turkey fell to its lowest level in 17 months, as investor concern about the coronavirus and the conflict in Syria intensified. It later recovered, but not for long: the devaluation of Turkish currency continued, and now it is trading at about 6.43 lira against the US currency (data as of March 16). The rate was only lower on August 31, 2018 (6.54 lira per dollar).

Turkish citizenship by purchasing real estate property in Kemer – Growing Quality

The quality of modern apartments and houses in Turkey is increasingly higher, as the adjacent infrastructure of residential complexes are much more developed. As a rule, investors are offered apartments in modern complexes with their own pools, gyms and children’s playgrounds. New buildings in the Turkish resort of Kemer and the province of Antalya as a whole are becoming more comfortable and high-quality from year to year, and the adjacent infrastructure is becoming more and more developed and diverse.

Turkish citizenship by purchasing real estate property in Kemer – Opportunity to make money on tourism

Kemer, with its mild and warm climate of the Turkish Mediterranean, attracts many foreigners. Especially the resort deserves high interest by immigrants from the countries of the former Soviet Union. This trend is quite understable, since the swimming season in Kemer lasts from May to November, and winters are very mild.

In 2019, 51 million foreigners visited Turkey. Moreover, almost 8 percent of these guests (7 million) were Russians. Experts predict the further growth of the Turkish tourism industry in 2020, which makes it even more profitable to invest in Turkish citizenship by purchasing real estate property in Kemer for subsequent rental to tourists.

Turkish citizenship by purchasing real estate property in Kemer – State infrastructure and ease of transport access

Real estate investors often look for a residential real estate by giving due consideration to infrastructure and cost of transport services. Turkey stands out beneficially in this regard, due to its brilliant technical infrastructure of transport and communications, which makes it one of the most suitable places for real estate investment in the world.

Kemer prides in fast and cheap ship transport as well as reliable motorway network available, connecting the resort town with neighboring Antalya, where the international airport is located. This airport regularly serves flights from and to Central and Eastern Europe countries and many others.

Turkish citizenship by purchasing real estate property in Kemer – A variety of attractions

The city of Kemer is known not only for its picturesque coastline, but also as a point of convergence of different cultures – Asia and Europe. Also, vacationers are offered a wide variety of water sports in Kemer, including parasailing, jet skis, canoeing, snorkeling, diving and much more.

In the city you will find Central Kemer Moonlight Park, an amusement park which overlooks Moonlight Beach which is awarded a Blue Flag for its cleanness. The infrastructure of this amusement park includes a dolphinarium, a mini-zoo, tennis courts and basketball courts, recreation areas and green zones.

Close to Kemer is Mount Tahtali – the highest mountain with closest proximity to the sea in the region. Its peak is at 2365 meters above sea level. From there, vacationers can enjoy stunning panoramic views of the mountain ranges, the beautiful scenery of Kemer and the sea.

Turkish citizenship by purchasing real estate property in Kemer  – Economy Growing

The increasing investment and tourist attractiveness of Kemer, which has been steadily growing over the past few years, was a natural consequence of Turkey’s openness to foreign capital and large investors – especially in the field of real estate and tourism.

Local authorities expect the Turkish economy to continue demonstrating growth in 2020 and increase by 3-4 percent. Moreover, experts of the Moody ‘ s independent rating agency forecast Turkish economy’s growth by 2.5 percent in 2020. Earlier  Moody’s  predicted the growth at 3 percent, but analysts recently lowered the forecast because of the global threat posed by the coronavirus.

Another rating agency, S & P, recently increased the country’s credit rating to “B +” with a “stable” outlook. At the same time, S & P experts note that Turkey’s large tourism sector, which accounts for about 13 percent of its economy, could be affected by the coronavirus epidemic in 2020.

Turkish citizenship by purchasing real estate property in Kemer – Young population and access to professional human resources

With its young population, Turkey has tremendous growth potential – especially compared to most of Europe. 79 million people live in this country and the average age of the country’s population is 30 years. That is, the majority of Turks are much younger than citizens of almost any country in the Old World.

According to the Turkish Statistical Institute, the number of youths in Turkey exceeds 29 million. Moreover, we are considering here the demographic group consisting of both local residents and visitors, which is a source of competent labor to meet the growing economic demand in the country.

So, if you are considering to obtain a second passport and Turkish citizenship by purchasing real estate property in Kemer, with a mid-to long-term intention to own a business in this country, you certainly will be able to find the right staff in short time, with minimal HR costs. This is a great opportunity for anyone who wants to do business abroad.

Turkish citizenship by purchasing real estate property in Kemer – Flexible legislation

After the approval of the legislative act on amendments to the terms of the citizenship for investments program adopted in September 2018, Kemer became a “hot spot” attraction for Turkish real estate investors.

Amendments to the legislation significantly reduced the cost and simplified the procedure for acquiring Turkish citizenship by investments. Foreign citizens who are looking to buy property in Turkey and, apply for citizenship for investments on this basis, now are required to make a minimum investment of $ 250,000, whereas previously the minimum investment amount was $ 1 million. 

In addition to a very low minimum investment (compared to offers from other nearby countries offering “golden visas” and/or “golden passports” to real estate investors such as Greece, Malta, Spain or Portugal), Turkey also provided reduced taxation mechanisms.

In particular, in order to further stimulate buyers’ activity and increase the flow of funds into the real estate sector, Turkey reduced the corporate income tax levied on foreigners from 33 percent to 20 percent.

Turkish citizenship by purchasing real estate property in Kemer – Excellent geopolitical location

The geographical location of Kemer is also an important factor that is taken into consideration when assessing the feasibility of investing in local real estate. The location of the city and the country as a whole – at the intersection of world transport routes historically determined the status of the region as a bridge between the Asian and European continents.

Turkey accommodates trade routes linking East and West. And it still continues to uphold the status of one of the best transit points in the world, as it is strategically located within the fast reach of hundreds of millions of people from Africa, Europe and Asia.

Turkish citizenship by purchasing real estate property in Kemer – Key tips

Timing is one of the most important aspects when it comes to investing in the real estate sector. And now is the best time to choose Turkish citizenship by purchasing real estate property in Kemer, as this popular resort city and the country as a whole are entering the new decade with great prospects.

Obviously, the acquisition of real estate abroad is a very serious decision. An even more to it, when you consider eligibility for Turkish citizenship by investment with purchasing property in Kemer. When concluding a transaction of this type, one should definitely take enough time to consider all pros and cons. Real estate experts recommend potential buyers to follow a few specific rules:

  • Take your time to study the information and facts about Turkey, analyze its basic laws, learn more about the standard of living and prices in Turkey, as well as about the opportunities and prospects that are available to the citizens of this country.
  • Weight all kinds of risks that may entail investing in Turkish citizenship by purchasing real estate property in Kemer.
  • Visit the country to have a look at the selected property that you are going to buy.
  • Find out more about hidden/additional/contingent fees/charges.
  • If possible, opt for the professional services in residential sector.

Purchasing property in Turkey without the help of specialists can create a number of additional risks. We therefore recommend that you do not save on the services of competent and professional immigration agents, lawyers, realtors, notaries and other experts. Choose a reputable immigration and real estate agency to apply for Turkish citizenship by purchasing real estate property in Kemer without any risks.

If you want to buy real estate in Turkey and subsequently apply for a second passport and citizenship by investments in 2020, do not hesitate to contact our consultants who are well aware of and competent in the Turkish real estate market. With their help, you can purchase housing or other real estate in Kemer or in any other region of the country. You are welcome to address your requests to the email address info@offshore-pro.info.

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