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Property in Turkey

Istanbul, Antalya, Bodrum — #2 among Russian investors: citizenship for $400K, visa-free, direct flights

from $80,000Starting price
5-9% grossYield

Ownership: FREEHOLD + citizenship by investment of $400K in 3-6 months

Turkey — the Bosphorus, Antalya, Bodrum

Market

Property market in Turkey

Turkey is the second-largest market for Russian-speaking investment in overseas real estate after the UAE. Visa-free entry for Russians (90 days), direct flights to all major cities, freehold ownership, and a citizenship by investment program for $400K in real estate (minimum 3-year holding period). Key hotspots: Istanbul (a multi-million metropolis plus the historic heart of the Ottoman Empire), Antalya (Konyaalti and Lara — the main beach clusters favored by Russians), Alanya (the budget mass-market segment, Mahmutlar), Bodrum (premium on the Aegean Sea, Yalikavak Marina), and Fethiye (Oludeniz, Kalkan). Prices range from $80K in Alanya to $10M+ for villas in Yalikavak. Rental yields of 5-9% (short-term up to 8-12%).

  • Citizenship by investment: minimum $400,000 in real estate since 2022 (was $250,000)(Citizenship Law №5901, amended 2022)
  • Tapu harci (transfer fee) of 4% of cadastral value — the main tax on a transaction(Turkey Fees Law)
  • Time to obtain citizenship — 6-8 months(Immigrant Invest, 2026)
  • Annual tax of 0.1-0.6% of cadastral value; ×2 in large cities(RestProperty, 2026)
  • Russia ranks #2 in transactions with foreigners, after Iran(TÜİK, 2024)
  • Minimum holding period after citizenship — 3 years(MFA Turkey)

Prices

Price per m² by city and district — Turkey

LocationPrice per m²Comment
Istanbul (Beylikduzu/Esenyurt)$1 500–2 800European side, new builds (Prian, 2026)
Istanbul (center, Besiktas)$3 000–5 500elite segment by the Bosphorus
Antalya (Konyaalti, Lara)$1 200–2 200the main beach clusters for Russians (Prian, 2026)
Alanya (Mahmutlar, Kargicak)$900–1 600mass-market budget segment
Bodrum (Yalikavak)$3 500–7 000premium Aegean Sea, villas $1.5M+
Fethiye / Kalkan$1 800–3 200mid-premium, Oludeniz

Ownership

Ownership for foreigners in Turkey

Full freehold for foreigners on apartments, villas, and development land. Restrictions apply only to border military zones and agricultural land. The citizenship by investment program is the fastest "golden passport" among citizenship-by-investment countries in Europe.

  • You cannot buy in military-strategic zones and border territories (Syria, Armenia)
  • Citizenship requires a minimum of $400,000 in one or several properties combined, and the properties must be registered in the TAPU
  • Minimum holding period after obtaining citizenship — 3 years
  • Settlement in USD/EUR via a bank, with mandatory SPK (Capital Markets Board) certification

Source: Citizenship Law №5901, Land Registry Law

Taxes

Taxes on purchase and ownership in Turkey

TaxRateWhen paid
Tapu harci (title deed transfer)4%one-off, split 50/50 with the seller (Turkey Fees Law)
VAT1-20%on new builds; housing up to 150 sqm — 1%, premium — 20% (KDV Kanunu)
Emlak Vergisi (annual)0,1-0,6%annually; rate ×2 in large cities (Municipal Tax Law)
Rental income tax15-40% progressivetax-free minimum of ~$3,000/year (Income Tax Law)
Capital gains tax0-40%on sale within <5 years; after 5 years — 0% (Income Tax Law)

Residency

Residency through property purchase in Turkey

$400 000 (for citizenship) / $200 000 (for residence permit)Minimum investment
3-8 monthsProcessing time

Turkey is the only country with a citizenship by investment program from $400K in real estate with a 3-6 month timeline. The alternative is a residence permit on a purchase from $200K (a short-term residence permit). Citizenship covers a spouse and children under 18, granting a passport with visa-free access to 110+ countries and access to the U.S. E-2 visa.

Source: Citizenship Law №5901, Directorate General of Migration

Rental yield

Rental yield by city in Turkey

CityTypeGrossNet
Istanbul (center)Short-term (Sultanahmet)8–12%5–8%
IstanbulLong-term urban4–7%3–5%
Antalya (Konyaalti, Lara)Mixed6–9%4–6%
AlanyaSeasonal summer5–8%3–5%
Bodrum (Yalikavak)Premium Airbnb8–12%5–8%
FethiyeSeasonal5–7%3–5%

FAQ

Frequently asked questions about buying property in Turkey

How do you obtain Turkish citizenship by investment?

The program: purchase of real estate from $400K (a single property or several combined). Processing time is 3-6 months. Properties must be registered at a "legal valuation" of $400K USD or more (rather than from $250K, as was the case before 2022). The minimum holding period is 3 years. After that, you can sell without losing citizenship. It covers a spouse and children under 18. A Turkish passport grants visa-free travel to 110+ countries and a simplified E-2 visa to the United States.

Istanbul, Antalya, or Bodrum — which to choose?

Istanbul is a multi-million-resident urban market with two sides of the Bosphorus. Yields are a steady 4-7%, liquidity is high, but it is not a resort format. Antalya (Konyaalti + Lara) is the main beach resort for Russians, with direct flights and developed infrastructure. Alanya is the budget beach mass-market segment. Bodrum (Yalikavak) is the premium Aegean Sea, with villas from $1.5M+. Fethiye is mid-premium, Oludeniz.

What are the risks in Turkey?

The main risks: 1) inflation of the Turkish lira (though prices are denominated in USD/EUR in the premium segment), 2) earthquakes (use post-2018 projects built to the new BKS standards), 3) changes to the citizenship threshold (it was $250K and rose to $400K in 2022, and may rise further). Protective measures: choosing proven developers (Sinpas, Folkart, Avrupa Konutlari, Sur Yapi) and settling in USD/EUR.

What rental yield can you get in Turkey?

5-9% gross on long-term rentals. Konyaalti and Lara (Antalya) yield 6-9% thanks to the year-round Russian flow. Istanbul is 4-7% (steady urban). Alanya is 5-8% (seasonal summer). Bodrum is 4-6% long-term plus 8-12% short-term Airbnb in Yalikavak. Istanbul is the leader in short-term lets (Sultanahmet up to 10-12%).

What taxes apply in Turkey?

On purchase: 4% title deed transfer fee (Tapu harci) + 1% VAT if a new build from a developer + 0.5% agent fee. Total of 4-6%. On ownership: an annual tax of 0.1-0.2% of value (Emlak Vergisi). Rental income tax: a 15-40% progressive scale with a tax-free minimum of ~$3K per year. Turkish citizens pay the same rates.

How much does a square meter cost in Turkey in 2026?

Istanbul (Beylikduzu, Esenyurt) — $1,500-2,800/sqm, city center $3,000-5,500/sqm. Antalya (Konyaalti, Lara) — $1,200-2,200/sqm. Alanya (Mahmutlar, Kargicak) — $900-1,600/sqm. Bodrum (Yalikavak) premium — $3,500-7,000/sqm, villas higher. Fethiye/Kalkan — $1,800-3,200/sqm.

What is new in Turkish taxes from 2026?

A 30-fold rate differential has been introduced for large cities: in the 30 provincial capitals with populations over 750,000 (Istanbul, Ankara, Antalya, Izmir, and others), the municipal tax rate is twice as high — 0.2-0.6% versus 0.1-0.3% in smaller ones. The owner of a $400K property in a large city pays ~$800/year.

Other destinations

Explore other markets

UAEfrom $200,000Thailandfrom $80,000Omanfrom $180,000Cyprusfrom €200,000Greecefrom €150,000Indonesia (Bali)from $180,000Georgiafrom $40,000Vietnamfrom $50,000Montenegrofrom €100,000Serbiafrom €80,000 (~8.8M ₽)Mexicofrom $120,000Armeniafrom $80,000Bahrainfrom $200,000Saudi Arabiafrom $300,000Kuwaitunavailable for non-GCCPhilippinesfrom $50,000Malaysiafrom $150,000Dominican Republicfrom $150,000Mauritiusfrom $300,000 (PDS entry), from $375,000 (residence permit)Seychellesfrom $500,000 (Eden Island apartments)Sri Lankafrom $80,000Cambodiafrom $40,000 (~4M ₽)Cabo Verdefrom €50,000 (~5.5M ₽)

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