Turks are increasingly buying properties abroad for investment purposes due to the effect of the 'Golden Visa' and citizenship programs, while domestically, they mostly purchase homes for residence.
 

In the largest real estate market in Europe, the demand for home purchases in Türkiye has shifted from 'investment purposes' to 'residence purposes' over the last 4-5 years. The route for those wishing to buy property for investment purposes has shifted more towards Golden Visa countries and areas that offer rental income with reserve currency. Noting that Turkish buyers, who purchased only 130 million dollars' worth of real estate abroad in 2013, bought over 2 billion dollars' worth of property last year, Vesta Global Founding Partner Teuta Narazan pointed out that the Golden Visa and citizenship programs have also encouraged real estate purchases abroad for investment. "In recent years, Turkish investors have preferred countries with high-value appreciation and that offer residence rights. Countries such as Spain, Portugal, and Greece are especially popular. One of the main reasons for this is the advantage of gaining the right to live in Europe and freedom of movement while making an investment. Additionally, the stable growth of the real estate markets in these countries provides investors with long-term capital gains. We also predict that this trend will strengthen further in the coming period," she said.
 

In this regard, Narazan emphasized that investors buying real estate abroad need to pay attention to the right location and price, and said, "It is also valuable for the legal processes to proceed correctly. In this regard, we provide the correct service to our investors in the shortest time possible. In Portugal, fund investments are becoming more prominent. Here, choosing the right fund is important. The background and financial performance of the fund manager are crucial. We believe that progressing with this type of correct information and steps makes the investment valuable."
 

Golden Visa for 250 thousand euros in Greece

Greece's Golden Visa program offers a residence permit valid for five years for those who invest in real estate for 250,000, 400,000, or 800,000 euros, depending on the region. Those who obtain the Golden Visa enjoy many advantages, such as the right to free movement within European Union countries. Narazan stated that the most favorable Golden Visa option is in Greece and reminded that, although there is no specific date, the 250,000-euro Golden Visa program may be discontinued. "For this very reason, I can say that this is an important opportunity period for Golden Visa," she concluded.