Turkey belongs to the selected few countries offering an opportunity to receive citizenship by investment there for foreign real estate investors. A passport of Turkey is the best choice for investors striving for wise and profitable placement of their funds. The passport comes as a nice bonus to Istanbul real estate that rises in value non-stop. Are you one of those fortunate souls wishing to invest in Turkish properties and become a citizen of the country? If so, International Wealth recommends you pay attention to the Tor Beylikdüzü apartment complex in Istanbul, Turkey.
A second passport became a welcome gain during the pandemic, as many countries sealed their borders to slow the spread of COVID-19. Only their own citizens were allowed to enter.
Lots of high net worth individuals, while watching the global crisis aggravating and deepening in the healthcare system, decided in favor of Turkey as their second homeland. This is not surprising, considering Turkey boasts mild climate, unforgettable cozy beaches, well-developed healthcare system, and a high level of food security.
Luckily, it takes just three months today to get citizenship of Turkey and a second passport. The only thing a potential investor needs to do is purchase real estate in Istanbul or any other district of Turkey. What properties should you choose to invest in? The International Wealth experts recommend you pay attention to the Istanbul Tor Beylikdüzü apartment complex.
Istanbul Tor Beylikdüzü apartment complex in detail
This development project is being built in the European part of Istanbul, Turkey. It sits in the Beylikdüzü district, facing the Marmara Sea. The actual construction began in 2020, and the project is to be commissioned in March 2023.
Consisting of 295 apartments and 10 commercial premises, the Tor Beylikdüzü apartment complex in Istanbul sits on the land lot of 8100 square meters. With its modern architectural solutions, intelligent design, multiple amenities, elaborate floor layouts, central location, and lush greenery, the real estate in the Tor Beylikdüzü apartment complex in Istanbul, Turkey, will make investor’s life rich and colorful.
You may choose to spend your time here either alone or together with your friends and loved ones. In either case, the project’s amenities are at your fingertips any given moment. You are welcome to improve your stamina and fitness in the local health and fitness center, take a refreshing dip in the swimming pool, or relax in the sauna. No matter what your age and needs are, the Tor Beylikdüzü apartment complex in Istanbul, Turkey, will offer you everything your heart desires.
The Tor Beylikdüzü real estate project in Istanbul, Turkey, combines city dynamics and serenity of nature. It houses unique Istanbul properties. Experts believe, that due to the many amenities nearby, the Tor Beylikdüzü apartment complex may become one of the most successful development projects in the Beylikdüzü district of Istanbul, Turkey. Here are the amenities nearby for you to enjoy:
- TUYAP Fair Convention and Congress Center
- Marmara Park shopping center
- West Istanbul Marina
- Torium shopping center
- Center for Arts and Culture.
* Total area – total apartment area, including uninhabitable areas (supporting structures, internal walls, landings, etc.).
** Net area – inhabitable apartment area.
|Apartment type||Total area *||Net area **||Notes|
|1+1 A||63.12 square meters||45.74 square meters||Living room + kitchen: 20.01 square meters; bedroom 1: 11.80 square meters; bathroom and toilet: 4.41 square meters; balcony: 1.94 square meters;|
|1+1 B||63.61 square meters||46.01 square meters||Living room + kitchen: 21.44 square meters; bedroom 1: 11.80 square meters; bathroom and toilet: 4.23 square meters; balcony: 3.23 square meters;|
|2+1 A||132.03 square meters||95.68 square meters||Living room: 24.96 square meters; kitchen: 9.69 square meters; bedroom: 19.24 square meters; room 1: 11.78 square meters; bathroom and toilet: 3.83 square meters; balcony: 4.59 square meters;|
|2+1 B1||130.03 square meters||94.23 square meters||Living room: 24.15 square meters; kitchen: 10.52 square meters; bedroom: 21.33 square meters; room 1: 9.73 square meters; bathroom and toilet: 4.24 square meters; balcony: 4.96 square meters;|
|2+1 B2||130.03 square meters||94.23 square meters||Living room: 24.15 square meters; kitchen: 10.52 square meters; bedroom: 21.33 square meters; room 1: 9.73 square meters; bathroom and toilet: 4.24 square meters; balcony: 4.96 square meters;|
|2+1 C||131.14 square meters||95.03 square meters||Living room: 25.26 square meters; kitchen: 10.60 square meters; bedroom: 21.37 square meters; room 1: 11.03 square meters; bathroom and toilet: 4.19 square meters; balcony: 5.25 square meters;|
|2+1 D||131.59 square meters||95.36 square meters||Living room: 26.42 square meters; kitchen: 10.22 square meters; bedroom: 22.38 square meters; room 1: 10.08 square meters; bathroom and toilet: 3.99 square meters; balcony: 4.31 square meters;|
|2+1 E||132.64 square meters||96.12 square meters||Living room: 25.56 square meters; kitchen: 9.62 square meters; bedroom: 23.14 square meters; room 1: 11.99 square meters; bathroom and toilet: 4.25 square meters; balcony: 4.31 square meters;|
|2+1 F||131.79 square meters||95.05 square meters||Living room: 24.28 square meters; kitchen: 8.97 square meters; bedroom: 22.42 square meters; room 1: 10.20 square meters; bathroom and toilet: 3.42 square meters; balcony 5.53 square meters;|
|3+1 A||182.86 square meters||132.51 square meters||Living room: 32.32 square meters; kitchen: 11.72 square meters; bedroom: 25.79 square meters; room 1: 12.88 square meters; room 2: 11.80 square meters; bathroom and toilet: 4.14 square meters; balcony: 5.38 square meters;|
|3+1 B||179.74 square meters||130.25 square meters||Living room: 32.10 square meters; kitchen: 11.87 square meters; bedroom: 25.08 square meters; room 1: 11.62 square meters; room 2: 11.01 square meters; bathroom and toilet: 3.74 square meters; balcony: 6.72 square meters;|
|4+1 A||223.10 square meters||161.67 square meters||Living room: 34.74 square meters; kitchen: 13.66 square meters; bedroom: 23.65 square meters; room 1: 12.88 square meters; room 2: 13.12 square meters; room 3: 12.40 square meters; bathroom and toilet: 3.92 square meters; balcony: 7.64 square meters;|
Real estate prices for the Tor Beylikdüzü apartment complex in Istanbul, Turkey, are provided below. The price list is valid as of June 2021. For any updates, please, contact the International Wealth experts.
|Apartment type (bedroom + living room)||Minimum price||Maximum price|
|1+1||₺ 641,267||₺ 867,567|
|2+1||₺ 1,276,411||₺ 1,506,706|
|3+1||₺ 1,692,142||₺ 2,003,508|
|4+1||₺ 1,822,997||₺ 2,382,882|
The developer offers investors an opportunity to pay for their future residences in Istanbul by installments. In case of a 40% down payment, the installment plan will be for 24 months.
Tor Holding development company
The Tor Holding development company in charge of the Tor Beylikdüzü real estate project in Istanbul is famous for its unique top quality standards. It preserves the company’s image, mission, and values, while maintaining entrepreneurial spirit and open-mindedness.
The Tor Holding company was originally established as a textile company back in the 1990ies. Later on, a vertical and a horizontal growth strategies were used by Tor Holding for further expansion.
Due to several mergers and acquisitions, the company expanded its operations in the sphere of construction, investments, tourism, and agriculture. In 2020, separate group entities were amalgamated under the common name of Tor Holding. As of now, the developer’s experts have successfully built and commissioned over 3000 residential and commercial premises. Here are the projects they participated in: Aris Grand Tower, Grand Sirkeci Hotel, Aqua Kavakli, and News Residence, to name just a few.
Real estate prices in Istanbul and other cities of Turkey grow driven by investors’ demand
Real estate experts agree that prices for Istanbul properties will keep growing, both in TRY and foreign currencies, Lately, the TRY/USD exchange rate has dropped significantly. High demand for Turkish real estate on the part of foreign investors remains one of the reasons therefor. Foreigners wishing to obtain their citizenship by investment status in Turkey also belong here.
Recent data published by the Turkish Statistical Institute Press Office (Türkiye İstatistik Kurumu; TÜİK) indicate that the real estate market of Turkey grew by 16.2 YoY in May 2021, as far as the number of closed deals is concerned. The experts believe this growth results from the abrupt decrease in the number of deals closed last May. The latter may be explained by COVID restrictions and foreign investors’ activities.
According to TÜİK, 59,166 residential properties changed owners in May 2021. Foreign investors purchased 1,776 property units, accounting for a 106.5% growth YoY.
Istanbul real estate enjoyed the greatest demand. Being the largest Turkish city in terms of population and a major tourist center, Istanbul accounted for the greatest share of real estate transactions with a variety of buyers, including both Turkish citizens and foreigners (19.2%, or 11,356 residential units). The capital city of Ankara and the Izmir Province reported 5,653 and 3,298 properties sold, accordingly.
Over a half of properties (818 units), purchased by foreigners in May, were situated in Istanbul, with the Mediterranean spa city of Antalya (341 property) and Ankara (106 properties) following.
With 239 real estate units purchased, Iraqi investors topped the foreign investor list. They were closely followed by the Iranians (231 transaction). The Russians with 119 properties bought came third.
Since January till May 2021, foreign buyers purchased the total of 15,740 houses and apartments. The figure has grown by 24.9% YoY. In 2020, overseas investors received title to 40,812 properties. The figure dropped by 10.3% YoY. The COVID-19 pandemic was the obvious reason behind it. The 2020 season, however, still holds the second place in the recorded history.
The Central Bank of Turkey claims that the housing price index grew by almost 32% YoY in March 2021. This is an all-time maximum. In the light of exchange differences, however, real estate prices in Istanbul and other cities of Turkey are still attractive and tempting for foreigners paying for their properties in EUR and USD.
Affordable mortgages spur the demand on the part of Turkish citizens. As a result of cheap loans granted by local banks to ease the pandemic consequences in 2020, general property sales have grown by 11.2% YoY, with 1,500,000 propeties transferred to new owners. This is a record high for the market.
We shouldn’t forget that in December 2020 the government of Turkey imposed a curfew. Most public establishments were closed during weekends, and restaurants didn’t work at all. Restrictions were partially lifted in March, but in late April the government reintroduced full lockdowns as the number of COVID-19 cases started growing. Since mid-May, the country has been easing up on the pandemic restrictions.
Against a background like this, both developers and realtors are suggesting that real estate prices and sales may grow, driven by the summer holiday season and the growing number of foreigners in Turkey. Experts predict housing demand will increase, both in downtowns and on the sea coast, as more and more foreign nationals are interested in property acquisitions.
Experts from the Turkish real estate international promotion association (GIGDER) forecast that income from real estate sales to foreigners in Turkey will amount to approximately USD 7,000,000,000 (or TRY 58,000,000,000) at year-end 2021. The number of properties sold to foreign real estate investors is expected to reach the landmark of 50,000. As of today, the best annual result makes up 45,483.
Expert assistance with real estate purchase in Istanbul
Purchasing Istanbul real estate in the Tor Beylikdüzü apartment complex is a great way to use your disposable capital to maximum benefit, with citizenship by investment in Turkey as a nice bonus. The International Wealth experts are happy to offer you full-service support with apartment purchase and citizenship acquisition in Turkey.
You are welcome to contact International Wealth to book your customized consultation with us.
Is citizenship by investment granted for life in Turkey?
True, citizenship by investment in Turkey is granted for life. It gives you the same rights native-born Turkish citizens enjoy.
Is it necessary to speak Turkish to obtain citizenship by investment in Turkey?
You are not required to speak Turkish to get your citizenship by investment status in the country.
How long does it take to get a Turkish passport after I purchase residential properties in Turkey?
As soon as you receive your title certificate for properties you purchased in Istanbul, Turkey, and gather all the supporting documents necessary to get your citizenship by investment status, the documents will be submitted to the corresponding state bodies. It takes from 45 days to 4 months to analyze and evaluate them.