http://www.placestoretireabroad.com/

Places to retire abroad, SISLI , ISTAMBUL, TURKYE, Istanbul (2026)

Name: Places to retire abroad
Address: SISLI , ISTAMBUL, TURKYE, Istanbul, 34363, TR
Telephone: +40724595462

05/03/2021

Best kept secret......TURKEY .Free for all medical assistance after 65 yo. 50$ moth before
30k cost an apartment of about 1000SF, 300$ to rent it
The World Health Organization ranking of national healthcare systems puts Turkey’s at 70th out of 191. The central government body responsible for healthcare and related policies is the Ministry of Health (MoH). There is also a private sector and university-based care; however, the MoH is the main body responsible for providing healthcare. You can expect the quality of healthcare in Turkey to vary between regions. Although it’s cheaper than some of its European neighbors, access is limited in more rural areas. You’re more likely to have high-quality care in major urban locations like Istanbul – as well as the ability to communicate with your healthcare providers in English. This increase in quality is why most expats choose to go to private medical facilities over public ones.
All residents under 65 must have either public or private health insurance. Expats who have resided in Turkey for over a year under their residence permit can apply to have public health insurance through the state-run Sosyal Güvenlik Kurumu (SGK). Expats usually choose to supplement this with private insurance (or just choose private) to cover additional fees at private facilities.
As Turkey has grown as a country and political entity, it has experienced a great deal of reform around its healthcare system. It likely will continue to experience further changes in the future.
Retire in Turkey
How to Retire in Turkey: Costs, Visas and More
Turkey is filled to the brim with beautiful architecture, art and a melange of cultures that reaches back thousands of years. It’s home to artifacts from communities like the Hittites, Ancient Greeks, early Christians and Mongols, which fill this nation of some 82 million, with a rich sense of history. Lying as it does at a crossroads of Europe and Asia, visitors can see a unique blend of Western and Eastern influences. Its Mediterranean and Black Sea beaches are renowned for their beauty. Istanbul’s Grand Bazaar extends across 58 covered streets hosting some 1,200 shops. If you’re considering retiring in Turkey, here’s an overview of some basic information you’ll need. A financial advisor can offer valuable guidance as you consider retiring abroad.
Cost of Living and Housing
It’s much less expensive to live in Turkey than it is to live in the U.S. Without accounting for rent, Turkey’s cost of living is 53.56% lower than in the U.S. on average, according to Numbeo, a cost-of-living database.
U.S. rent prices are 556.13% higher when stacked against those in Turkey, on average. To rent a one-bedroom apartment in a city center will run you around $215.26 in Turkey, whereas a comparable setup in the U.S. would run about $1,340.16. If you wanted to pursue purchasing an apartment in Turkey, you would find that the price per square foot in a city center is averaged out to $83.07. In comparison, the same square footage in a similar city location in the U.S. would cost about $328.96.
To further illustrate the contrast, we can compare Istanbul, Turkey’s most populated city, to the U.S.’s New York City. To maintain the same standard of life, you would need around $8,203.10 in New York, which contrasts starkly to the approximately $1,100 necessary in Istanbul, assuming you rent in both.
So, if you’re looking for a country to retire in with both affordable renting prices and lower property costs to make the most out of your savings, Turkey may be a solid option.
Retire in Turkey – Visas and Residence Permit
Turkey doesn’t have a visa specifically for retirement, so you have to apply for a residence permit instead. This requirement applies to anyone who intends to remain in the country more than three months. You’ll first have to apply for a short-term residence permit, and you must do so within a month of your arrival in Turkey. There is an online application you fill out at the Turkish Ministry of Interior’s website. Once you finish, it will prompt you to make an appointment with the nearest DGMM office to continue the process and pay the fee your visa requires.
A short-term residence permit is issued on a two-year basis. After you’ve lived in Turkey uninterrupted for eight years under your short-term visa, you can apply for a long-term residence permit. These extend indefinitely.
No matter what residence permit you are applying for, you will likely need to show proof that you possess adequate assets. This can shift whether or not you have dependents, but a single person is generally required to have the equivalent to a month’s worth of Turkish minimum wage. As of early 2021, that would be around $400.
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18/02/2021

The World Health Organization ranking of national healthcare systems puts Turkey’s at 70th out of 191. The central government body responsible for healthcare and related policies is the Ministry of Health (MoH). There is also a private sector and university-based care; however, the MoH is the main body responsible for providing healthcare. You can expect the quality of healthcare in Turkey to vary between regions. Although it’s cheaper than some of its European neighbors, access is limited in more rural areas. You’re more likely to have high-quality care in major urban locations like Istanbul – as well as the ability to communicate with your healthcare providers in English. This increase in quality is why most expats choose to go to private medical facilities over public ones.

All residents under 65 must have either public or private health insurance. Expats who have resided in Turkey for over a year under their residence permit can apply to have public health insurance through the state-run Sosyal Güvenlik Kurumu (SGK). Expats usually choose to supplement this with private insurance (or just choose private) to cover additional fees at private facilities.

As Turkey has grown as a country and political entity, it has experienced a great deal of reform around its healthcare system. It likely will continue to experience further changes in the future.

Retire in Turkey – Taxes

Like many countries, residents and non-residents are subject to different taxes in Turkey. Residents pay taxes on their worldwide income, whereas non-residents only have to pay taxes on Turkish-sourced income. The country uses a progressive tax scale, ranging from 15% to 35%, depending on your income bracket.

Turkey does possess a tax treaty with the U.S., which can provide some relief. You will only have to pay into one country’s Social Security program as a result, which in Turkey is a 14% flat tax for employees. Otherwise, there are also tax exemptions that may allow you to pay less on your U.S. income taxes. One example is the foreign earned income exclusion, which lets you exclude the first (approximately) $100,000 for foreign earned income if you can prove your Turkish residency.

Retire in Turkey – Safety

Each expat’s experience is unique. Some may travel through Turkey and find they encounter little to no issues on a security level. That’s not to say you shouldn’t be cautious. The U.S. Department of State’s travel advisory warns travelers either visiting or moving through Turkey to be wary of both terrorism and arbitrary detentions. The advisory heavily suggests that you avoid the Sirnak and Hakkari provinces, which are in the southeastern part of the country, as well as any area within six miles of the Syrian border to avoid terrorist activity. The State Department’s most recent report on human rights practices in Turkey bears a close reading, especially sections 1 and 6.

Although you should speak with locals and enjoy the culture, you should also be wary of your surroundings and keep an eye on political developments. It is also advised that you don’t engage with political topics online either since that can still be a red flag.

18/02/2021

How to Retire in Turkey: Costs, Visas and More
Turkey is filled to the brim with beautiful architecture, art and a melange of cultures that reaches back thousands of years. It’s home to artifacts from communities like the Hittites, Ancient Greeks, early Christians and Mongols, which fill this nation of some 82 million, with a rich sense of history. Lying as it does at a crossroads of Europe and Asia, visitors can see a unique blend of Western and Eastern influences. Its Mediterranean and Black Sea beaches are renowned for their beauty. Istanbul’s Grand Bazaar extends across 58 covered streets hosting some 1,200 shops. If you’re considering retiring in Turkey, here’s an overview of some basic information you’ll need. A financial advisor can offer valuable guidance as you consider retiring abroad.

Cost of Living and Housing

It’s much less expensive to live in Turkey than it is to live in the U.S. Without accounting for rent, Turkey’s cost of living is 53.56% lower than in the U.S. on average, according to Numbeo, a cost-of-living database.

U.S. rent prices are 556.13% higher when stacked against those in Turkey, on average. To rent a one-bedroom apartment in a city center will run you around $215.26 in Turkey, whereas a comparable setup in the U.S. would run about $1,340.16. If you wanted to pursue purchasing an apartment in Turkey, you would find that the price per square foot in a city center is averaged out to $83.07. In comparison, the same square footage in a similar city location in the U.S. would cost about $328.96.

To further illustrate the contrast, we can compare Istanbul, Turkey’s most populated city, to the U.S.’s New York City. To maintain the same standard of life, you would need around $8,203.10 in New York, which contrasts starkly to the approximately $1,960.45 necessary in Istanbul, assuming you rent in both.

So, if you’re looking for a country to retire in with both affordable renting prices and lower property costs to make the most out of your savings, Turkey may be a solid option.

Retire in Turkey – Visas and Residence Permit

Turkey doesn’t have a visa specifically for retirement, so you have to apply for a residence permit instead. This requirement applies to anyone who intends to remain in the country more than three months. You’ll first have to apply for a short-term residence permit, and you must do so within a month of your arrival in Turkey. There is an online application you fill out at the Turkish Ministry of Interior’s website. Once you finish, it will prompt you to make an appointment with the nearest DGMM office to continue the process and pay the fee your visa requires.

A short-term residence permit is issued on a two-year basis. After you’ve lived in Turkey uninterrupted for eight years under your short-term visa, you can apply for a long-term residence permit. These extend indefinitely.

No matter what residence permit you are applying for, you will likely need to show proof that you possess adequate assets. This can shift whether or not you have dependents, but a single person is generally required to have the equivalent to a month’s worth of Turkish minimum wage. As of early 2021, that would be around $400.

24/01/2021

First, high-rise buildings have also been built in Levent, initially as banks’ headquarters. First major development was Yapı Kredi Plaza in 1990, followed by Akbank HQ building in 1993 and İş Towers in 2000, which bears the signature of Swanke Hayden Connel Architects. Some of the office units of majorly Yapı Kredi Plaza and İş Towers have been leased and occupied by third party companies including very reputable international bodies such as Mitsui, IBM and Fitch Ratings, which lead the way to first “plaza” demand for offices and so another escalation of the quality of life in Levent.

The other side of Büyükdere Avenue was initially occupied by major pharmaceutical factories and such industrial buildings. In 2000’s life in Levent dramatically escalated in quality by the transformation of these factories into major mix-use projects; Kanyon and Metrocity which are still considered to be major high-end buildings for offices, serviced and virtual offices and residences. The retail section of Kanyon is still sharing the top brands and position with İstinye Park, on the other hand, Metrocity lost its glimmer.

Witnessing the success of these developments, major developers of Turkey began to build A Class office building all the way facing Büyükdere Avenue. The vast majority of top local and international companies lined up in order to be able to take place in these buildings which lead to a major change of business life in Levent.

Zincirlikuyu followed this transformation by Zorlu Center, which is still the biggest development investment in Turkey so far, by approximately 1.6 b. USD. High-end brands still occupy the retail section, the food court contains a variety of selections from fast-food to fine dining and residential towers are preferred by crème de la crème. One of the towers is being used as hotel and is operated by Raffles. Major activities taking place in Zorlu Performance Hall has also shifted entertainment of the life in Levent.

Traditional independent buildings are still very popular by white-collar people, upper-middle and upper class. Because of the era of the developments, the vast majority of these buildings do not have an elevator but still are one of the primary choice of residency and offices in İstanbul. Considering the fact that İstanbul is in the earthquake zone, rock ground of Levent is giving people confidence. Easy access to both highways, public transport, restaurants, primary shopping centres and office buildings, proper planned urban settlement and green streets are the main factors of the 24/7 life in Levent.

Locating to The Life in Levent
The Location of Levent probably has very few cons but mostly pros. The District has very easy access to both highways and bridges and neighbouring to major living centres such as Etiler, Akatlar and Ulus, as well as Bosporus Lane through Ortaköy. Büyükdere Avenue and Nisbetiye Avenue; the main streets of Levent faces a significant traffic jam in rush hours, but you do not feel this stress in the streets of Levent. On the other hand, considering the fact that the major high-end residential and office buildings are located directly on Büyükdere Avenue, reaching to and from these buildings in rush hours is a problem. And the mix-use nature of the traditional buildings and lack of parking space on the streets makes it tough to find a car park on the old side of the district. To sum up, transportation is not a major problem for the life in Levent for drivers, except for the parking problem in the old town.

Reaching to Levent with Public Transport
Levent is subject to a very enhanced public transport system. In addition to traditional landlines, underground transportation via metro line is also adding speed and comfort to the life in Levent. The traditional landlines mentioned above are minibuses travelling between Sarıyer to and from Beşiktaş and municipality busses. This destination also connects you to sea transportation from Beşiktaş, to Kadıköy and Üsküdar. A little further travel with these landlines provides a connection to “Kabataş Pier” and “T1 Tram Line”. Kabataş Pier enables you to reach Anatolian Side the same way “Karaköy Pier” and “T1 Tram Line” reaches to Historical Semi-island and inner parts of the city.

Metro line is a major instrument on itself. A 10 minutes walk from “Şişhane Station” connects you to “Karaköy Pier”, which has a variety of lines to Anatolian Side; Üsküdar, Kadıköy and Bostancı. Levent is also located walking distance to Metrobüs’s “Zincirlikuyu Station”, which enables access from far ends of city; from Beylikdüzü to Kadıköy (Söğütlüçeşme). Also connecting to Marmaray Train Line from “Yenikapı Station” all the way from Halkalı to Gebze, covering entire Kadıköy coastline such as Feneryolu, Suadiye and Bostancı

Life in Levent After Working Hours
As mentioned before, the first settlement of Levent has begun with residential use in 1960’s and commercial use of residential units began in 1990s. This was followed by major commercial developments which lead to a 24/7 living life in Levent. Leisure units: bistros, restaurants, cafés, pubs and such places serve all day long. Proper urban planning is providing a peaceful life all day long and a variety of shops in the district enables its inhabitants to satisfy any needs of theirs.

Working Life in Levent
As mentioned before, there are 3 types of offices in Levent; modern office buildings (plazas), villas and traditional residential apartment units. Modern office buildings are either connected to a shopping centre due to their mix-use nature or have easy access to those. These shopping centres are also a solution to the car park problem for extra parking space needs or guest car park. These office buildings opened a new era to the working life in Levent by design, function and security aspects.

Villas are more independent units preferred by major companies and consulates. Gardens of these villas are not only giving a fresh breath but also providing sufficient car park for occupiers and guests.

Residential units with office use are preferred by middle-tier businesses with limited staff and looking to benefit from the advantages of location and prestige of Levent.

No matter which one, Levent has always been the most popular and demanded location for business life.

People Prefer to Live in Levent
Levent has traditionally been one of the primary choices of the upper-middle and middle class of İstanbul. Villas has been preferred by the wealthier and apartment buildings have been demanded by the middle class. In time, as modern residential towers rose on Büyükdere Caddesi and transformation of villas into offices, choice of the wealthy people shifted to those buildings. Today, residential towers are occupied by the wealthy class of İstanbul, including the international community and traditional apartment buildings are hosting white-collar people. It is fair to say that, either for business or living, life in Levent is desirable for any İstanbul inhabitant.

24/01/2021

Property consultancy has very specific standards in Europe and the USA. On the other hand, unfortunately, we cannot say the same for Turkey. Although brands might be familiar to you, property consultancy companies in Turkey are operated by local actors, except for a few international companies which are working in commercial property markets; offices, retail, industrial, hotels and leisure and major investments.

Property Consultancy in General
Looking for an apartment for your own residential needs, an income-producing property, an office to let for your business, a factory building, or a development site can be a mess, even a total loss of time or simple and beneficial practice. The Key element determining the end result of this gigantic difference is working with a proper property consultant. The COVID 19 pandemic has also increased the importance of taking proper property consultancy service in order to save time and getting in contact with a minimum amount of people.

Despite the waving happened all around the globe’s economies and property markets in the last decade, property consultancy and development sectors in Turkey have been protecting their crowns be being vastly more profitable than many other sectors. Growing and young population has lead to an inevitable increase in the demand for residential units, the emerging private sector has shown its effect on office buildings and industrial properties, consistently increasing investments on shopping centres have seen their reflection on public demand, the never-ending tourism sector has merged with the health sector and while enhancing its quality, also evolved into the new “health tourism” sector.

It is not a surprising fact that a promising sector such as property draws the attention of global investors, but also is trying to supply for Turkey’s, and mainly İstanbul’s rapidly growing international community’s demands. As mentioned above, whether your demand is too big or small although it has a lot to offer, it can also be a stomach-ache to find the right solution to your demand in a city of 16 million without the right property consultancy. At the end of the day, despite the international nature of this beautiful city it is vital to find the right local help.

Property Consultancy in Turkey
This is where your humble real estate property consultant steps in. Regional and sectoral experience and expertise will guide the investor and occupier to save time and money as long as they move along with the right partner in the solution. You may see property consultancy brands that are familiar to you from your homeland; just keep in mind that the vast majority of those are operated by local investors and employee. Therefore, getting a recommendation from a third party that is cooperating with agencies on a professional basis would be far more beneficial rather than sticking with the brand. The right property consultancy can be a lifesaver no matter the magnitude of your demand.

In case you do your search online, make sure that the photographs in the advertisements are genuine. Unfortunately, some property consultancy companies may use fake advertisements in order to develop a wider client portfolio. Do not hesitate to ask if the photographs given in the adverts truly belong to the given property and information given in the advertisement, especially the price or rent amount are solid. Location information of the properties adverted might also be garbled.

Property Consultancy; Exclusivity or Working with Multiple Companies?
Property consultancy companies in Turkey are usually focused on districts. Very few property consultancy companies are specialized in sectors such as residential, offices or industrial properties. Another issue is the language; many property consultancies companies do not employ sufficient English-speaking staff.

Therefore, first, make sure you receive proper local help in English. Communication is vital in order to find the right result for your demand. Keep in mind that property consultancy is not just a touristic journey between various properties but providing spot-on solutions to your demand. You need to receive right information on legal, administrative and market value sides altogether. A bilingual lease agreement will be beneficial for your information as well. As a result, working with a trustworthy property consultancy company with English speaking staff on a sole agency basis would be to your benefit.

Property Consultancy Operation
Then decide if you are looking for a property in a specific location or still looking at a variety of districts. Ask your consultant to provide you with a long list of options according to the standards that you determine, location, type of property, condition of the property and budget. That is where proper property consultancy service steps in. Your consultant should tell you if your standards are consistent or not and tell you If any change is necessary or not in this step. You may need to revise your budget, location or any other standard that you have given in order to save time. This has always been a vital element of property consultancy, but it has been literally lifesaving in COVID 19 pandemic days by making your travel less and getting in contact with less amount of people. Keep in mind that property consultancy companies also cooperate with each other. The list that is to be presented to you should and most probably would be consisted of various properties from the portfolio of multiple property consultancy companies.

The second step is getting to a short list among the options provided to you from the initial list that has been presented to you before. Normally, it is only normal to visit all the options presented in the long list. But considering the fact that we are living in exceptional days with COVID 19 pandemic, it would be the best option if you visit the options in your short list. These days made a proper property consultancy service far more beneficial for everyone more than ever.

Property Consultancy and Legal Advice
Contrary to the practice in Europe and USA, traditionally, especially in leasing transactions, agreements are prepared by property consultant themselves rather than lawyers or legal advisors. Considering the fact that the Turkish text is to be valid in the eye of the courts in case there is any dispute even if the agreement text is bilingual, it is always the safest way to get a lawyer’s opinion rather than property consultant’s alone. Keep in mind that no matter how specialised your consultant is, he or she might be unaware of the latest laws and regulations and might be acting against your benefits even in good faith.

24/01/2021

Information on Turkey’s Cost of Living, Infrastructure, Climate, Residency, Health Care and Real Estate
Often overlooked in favor of more established Mediterranean destinations, Turkey offers a wide array of choice and bundles of potential for anybody willing to do a little homework and leg work. The country is immense, but, thankfully, you can focus your interest on four regions in particular: the Aegean coast, the Mediterranean coast, Istanbul, and Cappadocia.

A vast country, Turkey stretches from the turquoise and azure waters of the Aegean and Mediterranean seas—where you’ll find most expats—across towering pine-covered mountains, on to the rolling plains that mark the beginning of the great Eurasian Steppe, then on over lush green mountains to the Black Sea coast, legendary home of the Amazons.

Along thousands of miles of coastline, you can find sleek resorts and modern medical facilities, just yards from the monumental remains of ancient Greece and Rome. It’s a country where the modern and the traditional are juxtaposed, at once familiar and excitingly different—and very affordable.

With its young population, Turkey is a country of the future. The economy is growing and diversified between Europe and Asia. And it’s easier than it’s ever been for foreigners to invest here now, especially in real estate.

Though not the capital, Istanbul is the country’s beating heart. Istanbul offers the best of any European city—from lattes to the latest Hollywood releases (in English)—but with a superior nightlife. You really can watch the world go by beneath a skyline of minarets and modern office blocks as ships from all over the globe trundle up and down the Bosphorus, the narrow straits that divide Europe from Asia.

Cost Of Living In Turkey
Live and Invest Overseas offers monthly cost of living budgets (for a couple) for our favorite destinations in Turkey:

Monthly Budget For Istanbul, Turkey

Infrastructure In Turkey
Turkey’s infrastructure is impressive for what is still an emerging market, but will face challenges accommodating their exploding population in coming years. Still, though, Turkey’s infrastructure holds up against EU-member nations.

Turkey’s air infrastructure is well-developed throughout the country, with over 100 airports (about 20 of them are international). Istanbul’s three major airports receive most of the country’s air traffic. In 2013 Istanbul Atatürk Airport was named Airport Of The Year (Air Transport News), Europe’s Best Airport (Skytrax World Airport Awards), was the 10th most trafficked airport in the world, and the 5th busiest in Europe. The trend in traffic through Istanbul is continuously on the rise; in 2014 Atatürk was the 4th busiest airport in Europe.

Turkey also has highly developed coastal and maritime infrastructure with 70% of its borders being coastline. The country’s economy depends heavily on merchant marine and fishing fleets from its various surrounding seas. Communications infrastructure is excellent, as is the national road system.

The national rail system is the least developed aspect of the country. While there is quite a bit of track laid throughout the country, only about one-fifth of it is electrified. All the rails are state owned and operated. This makes improvement or expansion difficult; politicians aren’t interested in revamping the railroads. Trains have been all but abandoned as modes of transportation in Turkey.

Istanbul is the largest city in Turkey, is the economic, cultural, and historical hub of the nation, and houses more than 14.4 million people. Not surprisingly, much of the modern infrastructural innovation and improvement has been based in Istanbul, which now offers residents a metro, a tram, buses, ferries, taxis (both land and water), excellent roads and supporting traffic control infrastructure.

While interior regions of the country may not boast such outstanding infrastructure, major cities and coastal areas are well-serviced.

Climate In Turkey
Most of Turkey has a Mediterranean climate and enjoys four seasons that can be more and less harsh depending on the region. Areas of Turkey nearer to the Black Sea experience the cooler Oceanic climate. Areas of Turkey near the Sea of Marmara (this area includes Istanbul) have a transitional climate that straddles both Mediterranean and Oceanic climates. Here, the seasons can be harsher than on the Mediterranean.

The Turkish coast that borders the Mediterrean Sea enjoys a mild climate—hot, dry summers and cool, wet winters. It rarely snows in these areas. However, the coast that borders the Black Sea experiences harsher seasonal changes and receives more precipitation (and more frequently) than the rest of the country. And the areas bordering the Sea of Marmara (like Istanbul) can experience the best and the worst of their neighboring climates. It usually snows in winter in these areas, as well as in mountainous regions, but not heavily.

The interior of the country experiences the harshest climates and seasons, as most of the interior is isolated from climate influence due to mountain ranges. Most of the interior has a Continental climate. The central Anatolian plateau, for example, suffers from severe climate changes from season to season, with temperatures reaching -40°F at their lowest and 90°F at their highest.

The temperature in Istanbul (and the western regions of Turkey) typically ranges between 35°F and 85°F throughout the year. Average annual humidity is around 80%. Istanbul receives less than 25 inches of rain per year.

As in any country, weather depends on your region, but generally Turkey enjoys a warm, mild climate, with a noticeable temperature fluctuation from season to season.

Turkish Winter: December to February

Turkish Summer: May to September

Residency In Turkey
U.S. citizens must obtain a tourist visa to enter Turkey for a maximum of 90 days (multiple entry). After the 90-day period has lapsed, you will be required to buy a new visa or obtain permanent or long-term residency permit.

It used to be difficult for a foreigner to establish full-time residency in Turkey, but it was made much easier in 2014. Now it’s even possible to obtain residency through the purchase of real estate.

Still, Turkey may be best enjoyed as a part-time retirement option. If you live here more than six months of the year, you become liable to the Turkish authorities for tax on your worldwide income.

Residency in Turkey can lead to a second passport and dual citizenship in this country, but there are several requirements, including “adequate command” of the Turkish language.

Health Care In Turkey
In the last decade private health care options have increased significantly all over the country. While options in the past were poor and limited to public health care, reforms over the last few years have improved the system, though it still doesn’t quite meet EU-member country standards.

Istanbul, Ankara, and other major cities offer the best health care facilities in the country. In rural areas health care facilities may be well below your accepted standard or not exist at all.

Real Estate In Turkey
Not too many years ago, there was no property market in Turkey for foreign buyers. Not only was foreign ownership restricted, but the process of purchasing property as a foreigner was complicated. All that changed with Turkish reforms designed to ease entry into the EU. Now your purchase of property in this country as a foreigner can be completed in a matter of two weeks or less, rather than the months it took in the past.

Property values along this country’s Mediterranean coast saw steady appreciation in the years leading up to 2008, when they, like property values in many markets worldwide, were shaken, though not as dramatically as elsewhere. Prices recovered within a year and a half and have since been slowly rising again. Despite this recent appreciation, Turkish coastal real estate remains a regional bargain and is expected to continue to appreciate in value for at least the next several years.

The real estate market in Turkey wasn’t hit as hard as others around the world in 2008 and 2009. Values in some districts of Istanbul dropped by maybe 25% at the height of the downturn (about the same as in Panama)… but in just a year-and-a-half prices had recovered. That rate of appreciation (10% to 15% per year on average) continued in 2014 and is expected to carry on indefinitely.

Despite these impressive rates of appreciation, Istanbul real estate remains a bargain compared with other global-standard cities

In 2012, Turkey ended the reciprocity condition for land sales, opening up the door to international investment. The result of that was an almost overnight increase in property sales. Recently, accountancy firm Ernst & Young ranked Turkey the second-most attractive market for investors in its 2013 European Real Estate Trend Indicator report and Price Waterhouse Coopers ranked Istanbul number one for development prospects in its 2013 Emerging Trends in Real Estate Europe report.

Property in Turkey—even in the most desirable Mediterranean resorts—remains affordable. It’s priced well below the cost of comparable buys in more established retirement destinations along the Mediterranean. Property prices in Turkey can be less than half the cost of similar beachfront properties in Spain, even in the most popular coastal spots.

Note that some restrictions remain in place on foreign ownership of property in certain areas. Foreigners can own land in Turkey only if Turks are allowed to own land in the foreigner’s country. Foreigners are limited to owning 30 hectares of land (larger tracts require special permission). As a foreign national, you can’t own more than 30,000 square yards of land without the approval of the Turkish Council of Ministers. Restrictions are also placed on foreign land ownership in low population areas (fewer than 2,000 inhabitants).

Places to retire abroad

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