Turkey or Europe: where to buy an apartment?
Thinking about buying property abroad, we first choose a country. And only then pay attention to the city, company, location of the house. When it comes to buying an apartment by the sea, the main question that arises for many: Turkey or Europe? Which country to prefer? Let's analyze the main criteria.
The cost of square meters: how much to count?
In Turkey, the cost of apartments starts at an average of 30,000 euros (if we talk about real estate in Alanya or Antalya), and these are apartments located close to the sea. So in Alanya for 35,000 - 40,000 euros you can buy a decent 1 + 1 (one-bedroom apartment) within walking distance from the beach. In Spain or Italy for the money you can buy apartments except on the outskirts of the city. And then in a very old house.
Prices for apartments in Bulgaria are about the same with Turkey, but the housing stock is much worse.
In addition, excellent residential complexes with hotel infrastructure are being built in Turkey: with pools, gyms and SPA centers. In Europe, the same complexes are significantly inferior to Turkish in quantity and quality of amenities.
Buying an apartment is half the battle. It is still required to contain. If when buying property in Turkey, the future owner pays a tax of 4%, in Europe this amount reaches 10% in some countries.
The annual tax on apartments in Turkey is 0.2 - 04% and it does not depend on the price of apartments, while in European countries, the rate is mainly calculated in proportion to the value of real estate. The lower threshold is 1% for low-cost housing and this figure can increase as much as 8%.
Low rates only in Greece and Cyprus - from 0.2% and then only on real estate worth up to 120 - 200 thousand euros. If the apartment is more expensive, the percentage increases markedly.
As you can see, the financial benefits of buying apartments in Turkey are obvious.
Residence permit - an apartment by the sea to move
For many, buying property in Turkey is not only a good investment, but also an opportunity to move closer to the sea. But does a foreign country give the right of permanent residence to property owners?
In Turkey, to issue a residence permit and live, without leaving the country as you want, the owners of any property can, regardless of its value. Moreover, the right to receive "ikameta" have the family members of the owner.
And after five years of owning real estate and permanent residence in Turkey, you can generally apply for citizenship. In addition, those owners who bought property worth more than 250,000 euros may not wait until five years have passed, but apply for citizenship immediately after purchase. True, in this case assets in the South Republic must remain at least three years. Simply put, in this period, the owner does not have the right to sell their property.
But Europe is not so loyal to its investors. So, to get the right to live by the sea all year round, you need to buy an apartment worth at least 250,000 euros. This is in countries such as Bulgaria and Greece. In Spain, they generally have to invest 500,000 euros in the economy of the country.
As we see, already 2: 0 in favor of Turkey.
It is also important that Turkey is a visa-free country, so if you or your friends want to fly to a cottage by the sea, then you just need to buy a plane ticket. In Europe, however, will have to arrange a Schengen.
Cost of living: where is it cheaper?
And again, the financial question: where to live cheaper, but with comfort?
In Turkey, with a fairly high standard of living, prices remain fairly reasonable. And if you look at the current rate of the lira against the dollar, then life in Turkey becomes very profitable for foreigners. So for 1000 euros a month a family of three in Alanya can live happily ever after.
In European countries, this amount is enough for just a week.
Economy is the most important factor affecting life
We are all accustomed to Europe being synonymous with a strong, healthy economy. But is it really? Of course, if you look at Austria, Germany, Denmark, France, then no doubt will arise. But countries such as Bulgaria and Greece (these are the countries located near the sea) have very much lost their positions in recent years. In Spain and Italy, the situation is stable, but the cost of living there is high.
In Turkey today, everything is being done to ensure that the country is in the next few years among the ten strongest economies in the world.
Climate
When you move to the sea, you want heat all year round. Of course, no one can promise the summer of 12 months. But beautiful weather - easily. So in Alanya, even in the winter months, the air temperature rarely drops below -15. The average air temperature is about 20-23. And the sea rarely cools below +17.
In principle, the picture is almost identical in European countries by the sea. Therefore, as they say, 1: 1 on this item.
Buying an apartment, as an opportunity to earn
Many who buy an apartment abroad, expect to receive passive income from renting apartments.
But in Europe, quite strict laws and high taxes, up to 50% per annum, so the income from the delivery of housing rarely exceeds 3% of the cost of apartments.
The rules are still more complicated. For example, in Spain, the minimum long-term lease term is actually 5 years. Even if the contract was originally concluded for a year, the tenant has the right to extend it annually for a minimum period, and the owner has no right to refuse without good reason.
In Greece, the minimum term of a long-term lease is 3 years, the short-term is 1 month. A special permit is required for a Monday rental.
In Turkey, such strict restrictions do not exist, and taxes are acceptable. Moreover, often the search for tenants and all issues related to renting are done by realtors. So the company maxhomeinvest always helps its customers in this matter.
As we see, in the issue of buying an apartment by the sea there is a clear advantage on the side of Turkey. That is why more and more of our compatriots annually decide on the purchase of real estate in the Solar Republic.
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