Here’s the typical scenario:
The investor decides to buy something in Istanbul because he believes that it’s a good long term play (true), and that if he invests $250,000 or more he can get free Turkish citizenship for himself and his family (also true).
The next step is for him to go online and Google something along the lines of “Turkey citizenship by investment real estate”.
He is then bombarded with dozens of smart-looking websites offering amazing projects with great 3D renders, pamphlets, and promises of high returns.
Eventually, he books a flight to Istanbul (probably the best connected city in the world, especially now) and a friendly English-speaking agent will pick him up at the airport and take him on a tour of many new developments.
I tried the process myself, and this is the video of my experience (here)
And why do most investors fall for it?
Because they want quick & easy. The reality is that making a good real estate investment in Istanbul is not straightforward, and requires you to dig into some micro-markets.
Last week, I published a video with Keith, my buyer’s agent in Istanbul. He finds good value real estate on the secondary market in up & coming neighbourhoods, which offer much higher yields and higher potential for capital appreciation. You can find out more about Keith’s services here.
If you want to read more such articles on other real estate markets in the world, go to the bottom of my International Real Estate Services page.
Other articles on Turkey:
- Is investing in Turkey viable?
- Making a Real Estate Investment in Istanbul, Turkey – Overview and what to watch out for
- Citizenship by Investment in Turkey – Timelines, fees, and traps to avoid
- Investing in a city of 15 million, with decent yields – and get a free passport
- One of the world’s easiest second residency programmes -Turkey
- Are all new buildings in Istanbul a bad investment? Istanbul Real Estate December ’21 update
Available services in Turkey:
If you want to discuss your internationalization and diversification plans, book a consulting session* or send me an email.
*a consulting session is a discussion about your portfolio and objectives. It does not constitute legal, financial, tax or investment advice.