Apartments in Istanbul sell like hot cakes, according to the official statistics. It should not be surprising, as the foreign buyer of real property in Turkey will qualify for citizenship of the country. The demand for Turkish real property on the part of foreign investors is growing every month so had better act fast! InternationalWealth team is making things easier for investors by selecting the optimal investment objects. The Roya Nova residential complex in Istanbul is certainly a pearl on the list of Turkish real estate. Please read on to learn about the residential complex and the situation in the Istanbul real property market.
Turkey is a fantastic country with a rich culture and beautiful nature. Today, you have a chance to make Turkey your second home. You can acquire lifetime citizenship of the country and many other advantages by investing on the Turkish economy.
Participation in the Turkish citizenship-by-investment program is a simple and fast way to obtain a second passport by investing in real estate in Turkey, in a business venture in the country, in securities, or by creating jobs there. The first option is the most popular one with foreign investors.
The candidate for Turkish citizenship has to invest at least US$ 250,000 in real estate in the country and hold it in possession for three years. When the possession period expires, the foreign investor is free to sell the property back while keeping the Turkish passport. The authorities of the country give carte blanche to the foreign investor as far as the type of real property is concerned: you can buy any property in the country that you like with the exception of the property located close to military objects and national borders.
What property should you choose when so many options are available? Experts recommend that you consider purchasing an apartment in Istanbul, a cosmopolitan city that has long been a business/ financial/ trade center in that part of the world. If you are interested in this pooprtunity, please continue reading.
The text below will introduce a new residential complex in Istanbul to you. The complex is called Roya and it is located right at the center of the city. We hope that the information given below will help you make a balanced decision.
Characteristics of Roya Nova residential complex
Roya Nova is a 32-story building sitting across from the Istanbul financial center. It offers comfortable residence and a pleasant environment.
If you purchase an apartment in Roya Nova residential complex, you will have access to all the facilities necessary for comfortable living and administering your business in Istanbul if you decide to open a company in the country.
An apartment in Roya Nova is an optimal investment object thanks to the location of the building. It sits in the Anatolian part of Istanbul, in Ümraniye district. It is the tallest building in the neighborhood and the upper floors give fantastic views of Istanbul. In addition, the complex is close to various important infrastructure objects:
- Е-5 Highway — 7 km.
- 15 July Martyrs Bridge — 11 km.
- ТЕМ Highway — 4 km.
- FSM Bridge — 15 km.
- Sabiha Gokcen Airport — 27 km.
- Access to YSS Bridge — 8 км.
Roya Nova residential complex consists of 225 apartments in total. You can choose a studio, a one-bedroom or a two-bedroom apartment.
Designed by Tago Mimarlik design studio and erected by Roya Yapı Construction Company, the Roya Nova residential complex offers the following advantages:
- A wide choice of high-quality apartments: Roya Nova has studios, one-bedroom and two-bedroom apartments. All apartments are spacious enough and all have balconies.
- Panoramic views: Let the sunshine in through floor-to-ceiling windows! You will find breath-taking views if you look out of the windows.
- Comfortable interiors: Enjoy the comfort of spacious apartments with high ceilings in the Roya Nova residential complex and rest on the balcony when it is warm outside. The underfloor heating system will allow using the apartment space in an efficient manner.
- Conference rooms: Negotiate business deals in comfortable conference halls available in Roya Nova.
- Sports facilities: Residents and guests of Roya Nova can use a sports hall equipped with various exercise machines. Go straight to the sports hall when your working day is over and rejuvenate! There is also an open-air swimming pool on the premises where you can cool in the summer time.
- Entertainment infrastructure: The Roya Nova Movie Theater shows films of various genres. It is an open-air movie theater and you will feel especially romantic while watching a love story late at night under the starry sky. The residential complex also has a karaoke room where you can have fun with your friends and neighbors. In addition to that, you will find a modern restaurant in Roya Nova that serves dishes of several national cuisines.
- Auxiliary infrastructure: Central heating, round-the-clock security surveillance, a passenger lift and a freight lift, efficient insulation, fiber optic Internet connection, back-up energy generator, surface and underground parking lots – all these auxiliary infrastructure objects are available to the residents of Roya Nova making their lives safe and comfortable.
- Building security: Before starting the construction, the developer ascertained that the land lot is suitable for a high-rise building. Roya Nova meets all the seismic stability standards and has great insulation. The building was inspected carefully when the construction was completed.
Readers of InternationalWealth portal wishing to buy an apartment in the Roya Nova residential complex are welcome to make use of our exclusive offers.
|Apartment type||Area, square meters||Price, Turkish liras|
|Studio||48||765,000 – 890,000|
|One-bedroom||68||1,060,000 – 1,300,000|
|Two-bedroom||101||1,545,000 – 1,875,000|
The buyers can make a deferred payment (12 months) if they cover 50% of the apartment cost. The amounts given above do not cover the administrative costs of property rights transfer and Turkish citizenship by investment acquisition.
Introduction to Ümraniye district
Let us describe the district where the Roya Nova residential complex is located. The district is called Ümraniye and it is in the Asian part of Istanbul. A major highway runs through the district and leads to one of the two bridges that link the Asian and the European parts of the city.
Ümraniye borders on the following districts of Istanbul: Çekmeköy in the northeast, Sancaktepe in the east, Ataşehir in the south, Üsküdar in the west, and Beykoz in the northwest.
Ümraniye sits on a hill. Previously, there was a small village there with only 900 people living in it. Most of them were immigrants from the Circum-Pontic area. The population of the area started growing in the 1950s and it has reached 700 thousand people by now.
Thanks to the clever city planning that manifests itself in wide roads and large green areas between the districts, the place attracts wealthy Turks and foreign nationals. Some people are even moving there from the European part of Istanbul.
Social infrastructure is also well developed in Ümraniye. There are public buildings, shops, trade-centers, and branches of numerous banks in the district. Over the last ten years, Ümraniye has turned into a vibrant trade and business center. A great number of new buildings have been erected in the area recently including the first Turkish IKEA store and many residential complexes, Roya Nova being one of them.
The area is characterized by a comfortable climate that combines some features of the cool Mediterranean climate and wet subtropical climate. You should expect winters to be cool and summers to be warm (and sometimes hot) if you decide to relocate to the area.
|Monthly temperatures in Ümraniye|
|Max. Temperature °C (°F)||8.1(46.6)||7.7(45.9)||9.7(49.5)||15.8(60.4)||19.5(67.1)||25.1(77.2)||27.2(81.0)||27.0(80.6)||24.0(75.2)||19.1(66.4)||13.8(56.8)||9.6(49.3)||17.2(63.0)|
|Avg. Temperature °C (°F)||5.3(41.5)||5.2(41.4)||6.2(43.2)||11.5(52.7)||15.4(59.7)||20.3(68.5)||22.6(72.7)||22.7(72.9)||19.6(67.3)||14.7(58.5)||11.1(52.0)||6.8(44.2)||13.5(56.2)|
|Min. Temperature °C (°F)||2.4(36.3)||2.5(36.5)||2.6(36.7)||7.2(45.0)||11.3(52.3)||15.4(59.7)||18.0(64.4)||18.3(64.9)||15.2(59.4)||10.6(51.1)||7.0(44.6)||3.9(39.0)||9.5(49.2)|
|Precipitation / Rainfall mm (in)||113(4.4)||77(3.0)||74(2.9)||51(2.0)||36(1.4)||29(1.1)||29(1.1)||36(1.4)||49(1.9)||82(3.2)||98(3.9)||133(5.2)||807(31.5)|
As Ümraniye is located relatively high above the sea level, it is one of the coolest districts of Istanbul characterized by heavy snowfalls in the winter. At the same time, you can see the whole of Istanbul from the height including the Bosporus and the European part of the city.
Who built the Roya Nova residential complex?
Let us talk briefly about the companies behind the development project that we are advertising here: the Roya Yapı Construction Company and Tago Mimarlik architecture and design studio.создали комплекс Roya Nova, располагая богатым опытом проектирования и строительства квартир в Стамбуле.
The developer of the Roya Nova residential complex
Roya Yapı, the developer of the Roya Nova residential complex, was formed in 2017 when three development companies merged. The fact that companies with different backgrounds formed the merger allowed combining their knowledge and experience in various construction-related spheres such as architectural engineering, construction project management, property assessment, and so on.
Roya Yapı put stress on environment protection, innovative technologies, teamwork, harmony and creativity, improving the personnel qualifications through seminars and training sessions, and other methods of optimizing the construction processes and enhancing the quality of the products.
The developer keeps in close contact with the clients during the construction period, which minimizes the need for readjustments and rearrangements thus lowering the ultimate costs of construction and leaving the clients totally satisfied. The company sticks to this routine whatever development project it is involved in.
The architects of the Roya Nova residential complex
Istanbul-based Tago Mimarlik architecture and design studio has vast experience designing high-rise apartment buildings as well as commercial property such as office buildings, industrial buildings, public and state buildings.
The company relies on the latest achievements in the architecture and design industry. Based on its floorplans, buildings are erected in Turkey, in Europe, and in the Middle East. The company has branches in Romania, Ukraine, Kazakhstan, Japan, and the UAE.
High demand for real property in Istanbul drives the prices up
If you would like to buy property in Istanbul and in Roya Nova in particular, you should not put it off till tomorrow. The number of foreign investors wishing to obtain Turkish passports by purchasing real property in the country is growing fast and so are the property prices.
Let us give you some figures that will confirm the statement above. According to the data published by the Turkish National Statistics Institute (Türkiye İstatistik Kurumu; TUİK), the six months between January and June of 2021 have seen the largest number of real property sales to foreigners in history.
In the first half of 2021, foreign investors purchased 20, 488 pieces of property in Turkey. This is a 44% increase in comparison to the same period of the previous year. (14,262 purchase deals made by foreigners). It is worth noting that the demand has increased in spite of the coronavirus pandemic.
The figures below reflect the growing tendency in the number of real estate pieces sold to foreign nationals in Turkey:
- 2021 – 20,488 purchase deals;
- 2020 – 14,262 purchase deals;
- 2019 – 19,952 purchase deals;
- 2018 – 11,816 purchase deals;
- 2017 – 9,595 purchase deals;
- 2016 – 9 378 purchase deals;
- 2015 –10,353 purchase deals;
- 2014 – 8,507 purchase deals;
- 2013 – 5,234 purchase deals.
The sales by the month in the record-breaking 2021 were as follows: 2,675 deals in January, 2,964 in February, 4,248 in March, 4,077 in April, 1,776 in May, and 4,748 in June. The comparatively low results in the month of May are attributable to the strengthening of the anti-epidemic measures in Turkey. At the same time, the month of June saw an unbelievable increase in sales of 185% on a year-to-year basis!
Between January and June, 2021, the largest number of apartments were sold to foreigners in Istanbul: 10,108 purchase deals were made in the city. Then come Antalya, Ankara, Mersin, and Yalova with 3,990, 1,276, 951, and 584 purchase deals made, correspondingly.
Over the period under review, citizens of Iran made the largest number of purchases (3,070 cottages, villas, and apartments were sold to them). Then come citizens of Iraq, Russia, Afghanistan, and Germany with 3,019, 1,759, 1,277, and 726 pieces of property bought, correspondingly.
The experts of the Turkish Association for Promotion of Real Property Abroad (Gayrimenkul Yurt Dışı Tanıtım Derneği; GİGDER) note that the growth in the sales of apartments in Istanbul and other Turkish cities can be attributed to the improvement in the epidemiological situation and the deferred demand that had accumulated during the lockdown times.
The building up of collective immunity with the vaccination, the gradual growth in the number of international flights to Turkey, and the increase in the number of tourists visiting the country are having a positive impact on the Turkish real estate market. More and more foreign nationals invest in real property in Turkey wishing to obtain second passports and rejoice in the marvelous nature and mild climate ‘at the border of green and blue’ (the forest and the sea).
Experts believe that the record sales in June 2021 is an indication that new records are coming in the near future. As the tourist industry activities are almost back to normal in Turkey, experts expect to see 50,000 or more pieces of real estate sold by the end of 2021. The expected revenue from the sales of real estate to foreigners this year is US$ 7 billion.
Longer-term forecasts look extremely optimistic as well. Some experts believe that by 2025, the total revenue from the sales of apartments in Istanbul and other Turkish property to foreigners will reach US$ 20 billion.
Why you should buy an apartment in the Roya Nova residential complex
Turkish citizenship by investment in Roya Nova will bring the foreign national and the members of his/ her family numerous bonuses including the following ones:
- Geopolitical advantages: The geopolitical and strategic significance of the Turkish Republic for The EU, USA, Russia, Middle East, and Asia is beyond any doubt. This is where three continents meet: Europe, Asia, and Africa. The country has access to the Black Sea and the Mediterranean Sea. It is a member of NATO and European Council. Negotiations about joining the EU are underway.
- The growing tolerance in the Turkish society: According to the Turkish Constitution, the word ‘Turk’ refers to all citizens of the Republic regardless of their race or religion. Even though 90% of the population are Muslims, Turkey is a secular country. Islam lost the status of the official state religion in 1928 and the authorities of the country have been marinating the secularity of Turkey ever since.
- An opportunity to immerse into a rich culture: Both geographically and culturally, Turkey is between east and west combining the elements of both civilizations. The territory that the Turkish Republic currently occupies has experience the influence of a number of cultures over the years. There are many archeological sites in Turkey and some of its wonders have been put on the UNESCO list of world heritage site. These include many sites in Istanbul such as Topkapı Palace, The Blue Mosque, St Sophia Cathedral, Constantinople walls, and so on.
- Opportunities for business development: Since the end of WWII, trade has been playing an ever increasing role in the Turkish economy. Approximately half of the total foreign trade turnover is made by trading with European countries, Germany being the main trade partner of Turkey. Russia and China are the largest countries where Turkish goods are exported. The Middle East countries are also important trade partners for Turkey. The Turkish GDP was growing at an astonishing rate before the coronavirus pandemic struck. When the situation normalizes, Turkey is going to become an attractive platform for foreign business people and investors again.
- Developing city infrastructure: Renovation of the cities is one of the top priorities that the Turkish Government has. If you purchase an apartment in Istanbul, you will be able to watch the implementation of a number of ambitious development projects. Such impressive infrastructure objects as Yavuz Sultan Selim Bridge, Eurasia tunnel, and the third Istanbul airport have been built recently.
- Increase in the freedom of travel: Acquiring the Turkish passport in exchange for an investment in an apartment in Istanbul, you will simultaneously acquire a visa-free entrance to a number of foreign countries (including multiple visa-on-arrival opportunities). With the passport of Turkey, you can visit 116 countries without visas including Japan, Mexico, Brazil, and most post-Soviet states.
- An opportunity to relocate to the USA: You can use your Turkish citizenship as a starting point in relocating to the United States. Investing from US$ 250,000 in Turkish real estate, you become eligible for the passport of the country. Now, any citizen of Turkey is eligible to apply for an E2 visa to the USA. This is a non-immigration visa but it gives the right of abode in America. You have to invest minimum US$ 50,000 in a business venture in the States to qualify for an E2 visa. However, you are not going to become a fiscal resident of the USA when you get the visa, which is certainly good news.
How can you buy an apartment in Roya Nova residential complex? Apply for expert support!
The foreign investor purchasing an apartment in Roya Nova residential complex in Istanbul acquires numerous bonuses in addition to the possibility to become a Turkish citizen. Affordable price, easy accessibility, multiple tourist facilities, a wide choice of nature park to get away from the hassle of the city life – all these benefits are readily available!
You should bear in mind that the Turkish legislation is constantly changing and this goes for the laws related to property purchase and immigration as well. You would appreciate professional assistance in keeping track of the recent changes to the legislation and the trends in construction and design that are found in the Turkey of today.
Please apply for a personal consultation with InternationalWealth experts. We will advise on the best property to buy in Istanbul and guide you through the process of acquiring Turkish citizenship by investment.
Please apply for a consultation right now! You are welcome to contact us by email, telephone or our live chat.
The InternationalWealth team will be happy to provide a full range of services to you as far as investment immigration, international banking, tax planning, and geographical asset diversification are concerned.
How can I use the real property in Turkey when I buy it?
If you purchase an apartment in Roya Nova or some other piece of property in Turkey that costs at least US$ 250,000 you will qualify for citizenship of the country. This is the only tough condition that you have to meet: you do not have to live in Turkey nor pay regular visits to the country. If you do not wish to relocate there, you are free to let your Turkish property on a lease while keeping your second passports and gaining some passive income.
Who is eligible to apply for Turkish citizenship?
There are no official restrictions as to the nationality of the applicant. Citizens of all countries can apply for Turkish citizenship. The main applicant has to be of age.
What are alternative routes that will lead to Turkish citizenship by investment?
Besides investing in real estate, there are other investment options as well. For instance, you can deposit US$ 500,000 in a local bank for a fixed term. An interest on your deposit will be paid. In addition, you will qualify for Turkish citizenship if you invest in a business venture in the country, create new jobs, or purchase some stock / state bonds.