Poles discover Turkey as a paradise for investors. This is what the purchasing process looks like
Anna Korólczyk-Lewandowska, Business Insider Polska: Let's start with trends. What regions in Turkey are the most attractive today for foreign investors, including Poles?
Bartosz Tomczyk: There is no surprise here – the south of Turkey has been number one for years. The greatest interest is in properties with a sea view, in places with a beach and full infrastructure. We are talking about the belt from Antalya to Gazipasa. It is an exceptionally well-connected region – highways, airports, three connections a day from Warsaw. You can have breakfast in Warsaw and lunch in Alanya.
And when it comes to segments – apartments, holiday apartments or perhaps commercial real estate?
BT: There are no typical “condo” type investments like in Poland. There are apartments for short or long-term rental and commercial premises. As of today, over 90 percent transaction is apartments. Poles rarely buy commercial premises, but we see more and more inquiries – because the increase in real estate prices is on average 25%. year to year, and commercial rentals provide higher profits than apartments.
Angelika Tomczyk: More and more people are moving their businesses here from Poland or Europe – due to restrictions in the EU.
BT: The benefits are obvious: lower taxes, easier running a business. There is no presumption of guilt here, the office does not check the account every month. Taxes are low and paid immediately – no one avoids them.
Angelika and Bartosz Tomczyk from AB Abejorro
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AB Abejorro
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What does the purchasing process look like?
You mentioned that the formalities are quick. What does it look like in practice?
BT: The procedures are as simplified as possible. A tourist who decides to make a purchase during his stay must be able to finalize the transaction immediately. There is an official valuation, a visit to the office, a sworn translator – everything takes about 20 minutes. The money goes to the developer or to a government account.
AT: The ownership deed (TAP) includes a section informing whether the apartment is in debt. There are no mortgages here, only small utility arrears, which are repaid from the transaction amount.
What are the prices?
AT: A two-room apartment with a sea view costs approx. PLN 100,000. euro.
BT: In a new building with a swimming pool, gym, sauna, hamam, cinema room and restaurant. Standard as in a five-star hotel.
And the rate of return?
BT: From 7 to 11 percent from rent, plus increase in value – on average 26%. per year in the last 8 years.
Citizenship and financing
What does the issue of mortgage loans for foreigners look like?
BT: Foreigners do not get loans unless they invest at least 400 thousand euro – then they receive citizenship and can apply for a loan. The whole family gets a passport. This is a huge benefit: great medical care, free international schools.
AT: Few people know that you can have dual citizenship – you don't have to give up your Polish citizenship.
BT: Developers also offer payment in installments – up to 36 months, without interest. The amount is fixed.
Antalya in Turkey
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Oleg_P / Shutterstock
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Safety, costs and lifestyle
How do inflation and the political situation affect the market?
BT: Transactions are in euros, so inflation in Turkey does not affect investors. High inflation drives the market because Turks also invest capital in real estate. Politically, the country is stable – the second army in NATO, good relations with the East and the West. Investors feel safe here.
And the cost of living?
BT: For 1,500 euros a month, the family lives comfortably. Food is cheap – ice costs 90 gr. Alcohol and cars are expensive, the rest is much cheaper than in Poland. Fuel approx. PLN 4/l. Rent for an apartment with a swimming pool and gym – 50-60 euros per month.
AT: Let us add that the season here lasts practically 10 months. It's currently 27 degrees on the beach in November. This is a huge difference compared to Europe.
And lifestyle?
BT: This is something that attracts people. The projects include coworking zones, high-speed Internet, swimming pools, and hamams. You can work remotely and enjoy the atmosphere at the same time.
What mistakes do buyers most often make?
BT: Buying from unverified intermediaries. The developer must be verified, preferably by an on-site lawyer. We only cooperate with companies that have been operating for 20 years, with successful projects.
Are there any restrictions for foreigners?
BT: You cannot buy real estate near military facilities or larger than 30 ha. In addition, full ownership rights, inheritance, share in the land – as in the EU.
Are you returning to Poland?
BT: We fly in once a month, but we don't plan to return yet. The sun compensates everything.
Today, Türkiye is one of the most dynamic real estate markets in the region. Quick procedures, attractive prices, high rates of return and the possibility of obtaining citizenship make more and more Poles choose the south of Turkey as a place to invest – and live.
