Turkey vs Spain: Where to buy real estate and where to invest?

Have you ever wondered where it is better to invest your savings - in sunny Turkey or in picturesque Spain? These two countries have long attracted investors from all over the world due to their unique advantages. In this article we will understand where it is more profitable to buy real estate and where you should invest to get the maximum return. We will compare the real estate markets of Turkey and Spain, consider key investment factors and discuss all the nuances of buying a home. Let's dive into this fascinating world of investment and find out what to choose: real estate in Turkey or real estate in Spain?

Analysis of the real estate market in Turkey and Spain

When it comes to real estate in Turkey and real estate in SpainIt is important to realize that both markets have their own characteristics and dynamics. Let's take a look at what is happening in these markets and what trends can be expected in the coming years.

Turkey

In recent years, Turkey has become a real magnet for investors. The volume of real estate sales here has been steadily growing, thanks to both domestic demand and the interest of foreign buyers. In 2024, Turkey is seeing particularly high demand for real estate in regions such as Istanbul, Antalya and Izmir. The average cost per square meter in Istanbul is about 1,500 euroswhich makes it attractive to those looking for a profitable investment.

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The main buyers in Turkey are citizens of the Middle East, Europe and Russia. They are attracted not only by affordable prices, but also by the possibility of getting a Residence permit through the purchase of real estate. Economic factors such as stable GDP growth and infrastructure development also play into the hands of investors.

Spain

Spain, in turn, has long established itself as one of the best places to buy real estate in Europe. The country offers a wide range of properties, from villas on the Costa Brava to apartments in Madrid and Barcelona. Housing prices in Spain vary from region to regionBut the average cost per square meter in Barcelona is about 3,500 euros.

The main buyers in Spain are citizens of Great Britain, Germany and France. They are attracted not only by the warm climate and rich culture, but also by the possibility of getting a golden visa when purchasing real estate for an amount of 500,000 euros or more. Economic stability and developed tourist infrastructure make Spain attractive for long-term investments.

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Impact of economic factors

Both markets are affected by global economic factors. In Turkey, the real estate market is influenced by the lira exchange rate and government policy aimed at attracting foreign investment. In Spain, on the other hand, the market is more stable due to EU membership and a strong economy. However, in both cases, investors can count on the long-term growth in real estate valueThis makes both countries attractive for investment.

To summarize, we can say that both Turkey and Spain offer interesting opportunities for real estate investment. The choice depends on your preferences and goals: whether you want more affordable housing and the ability to quickly obtain a residence permit in Turkey, or whether you prefer the stability and developed infrastructure of Spain.

Comparison of key factors of investment in Turkey and Spain

When it comes to choosing between real estate investment in Turkey and Spain, it is important to consider a few key factors that may influence your decision. Let's take a look at what each country has to offer.

Turkey offers more affordable prices, high rental yields and rapidly rising real estate prices, making it attractive to investors looking for a quick return on investment. Spain, on the other hand, offers a more stable market, prestige and the possibility of EU residency, but requires a larger investment and has a longer payback period. The choice depends on your investment strategy and financial capabilities.

Nuances when buying a home

Buying real estate abroad can be a real challenge, especially if you are not familiar with local peculiarities and legislation. Let's take a look at what nuances can await investors in Turkey and Spain, and how to avoid pitfalls.

The purchase process: from search to registration of ownership

Turkey offers a relatively simple and quick process for buying real estate. It usually involves the following steps:

1. Searching for a facility and signing a preliminary contract.
2. Opening a bank account and obtaining a tax number.
3. Real estate valuation and verification of its legal cleanliness.
4. Signing of the main contract and registration of ownership in the cadastre.

The entire process takes anywhere from a few weeks to a couple months, depending on the complexity of the transaction. Clearance costs can be around 3-4% of the value of the propertyincluding notary services and fees.

In Spain the purchase process may take longer due to more complex bureaucracy. Key steps include:

1. Search for real estate and sign a preliminary agreement.
2. Obtaining an NIE (Foreigner Identification Number) and opening a bank account.
3. Conducting due diligence and appraisal of the property.
4. Signing of the notarial deed and registration of the property.

Here, the costs of processing can reach 10-12% from costincluding taxes and notary fees.

What pitfalls can investors expect?

In Turkey, investors may encounter problems related to the legal cleanliness of the property. Therefore, it is important to conduct a thorough document check and seek the assistance of experienced lawyers. It is also worth taking into account possible changes in legislation concerning foreign buyers.

In Spain, one of the common problems can be the presence of utility or tax arrears from the previous owner. Therefore, it is necessary to carefully check all documents and accounts before buying. It is also worth considering possible price fluctuations in the market, which may affect your investment.

Difference in legislation and protection of owners' rights

Turkey offers fairly transparent real estate legislation, but protection of owners' rights may be weaker than in Europe. Therefore, it is important to carefully study all the terms of the contract and do not hesitate to ask questions.

In Spain, the legislation is stricter and provides a high level of protection for owners' rights. However, this can lead to longer clearance processes and the need for additional inspections.

The role of realtors and lawyers in the transaction

In both countries, realtors play a key role in the buying process. They help to find a suitable property, organize viewings and negotiate with the seller. However, it is important to choose professionals with a good reputation and experience in working with foreign clients.

Lawyers are also needed to check the legal cleanliness of the property and to complete all the paperwork. Their services may cost 1,000 to 3,000 eurosdepending on the complexity of the transaction and the region.

Similarities and peculiarities of the real estate market in Turkey and Spain

When we're talking about real estate in Turkey and real estate in SpainIt is important to realize that, despite some similarities, each of these markets has its own unique characteristics. Let's take a look at what they have in common and how they differ.

Common features of markets

Both markets are demonstrating sustained growth in demand for real estate, especially among foreign buyers. This is due to the attractiveness of the climate, cultural heritage and recreational opportunities. In both countries there is a tendency to increase the number of transactions involving foreigners, which contributes to the development of infrastructure and the quality of properties.

In addition, both Turkey and Spain, resort real estate popularity remains at a high level. This is due to the high tourist flow and the possibility of generating rental income, which makes investments in such properties particularly attractive.

Key differences

One of the key differences is. standard of living and economic stability. Spain has a higher standard of living, which is reflected in the quality of infrastructure, medical care and education. This makes the country more attractive for those considering permanent residence.

In Turkey, on the other hand, the economic situation may be less stable due to fluctuations in the lira exchange rate and political factors. However, this also means lower real estate prices and the opportunity to get a higher return on investment with the right approach.

Legal specifics also play an important role. In Spain, the law is stricter, which provides high protection of owners' rights, but can complicate the purchase process. In Turkey, the law is more flexible, but this can mean less protection of rights.

Economic stability and investment climate

Spain's economy has remained stable due to its EU membership and developed tourism industry. This creates a favorable climate for long-term investments and provides steady growth in real estate prices.

In Turkey, the economic situation may be less predictable, but the government is actively working to attract foreign investment, which opens up new opportunities for investors. Promising areas for investment in Turkey include Istanbul, Antalya and Izmir, where infrastructure and tourism are actively developing.

Prospects for growth and development of resort real estate

Resort real estate has always attracted the attention of investors due to its ability to generate income not only from sales, but also from rent. Let's take a look at what prospects for growth and development await real estate in Turkey and real estate in Spain in the coming years.

Tourism attractiveness: Spain vs Turkey

Spain has long established itself as one of the most popular tourist destinations in the world. The sunny beaches of the Costa Brava, the historical sites of Barcelona and Madrid, and the rich culture attract millions of tourists each year. This creates high demand for resort real estateEspecially during the summer months, when rental prices can rise significantly.

TurkeyIn turn, it offers a unique combination of oriental exoticism and European comfort. The resorts of Antalya and Bodrum are famous for their beaches and developed infrastructure. Turkey is actively developing its tourism industry, which makes it attractive for investors looking for a good investment. promising areas for investment in Turkey. Here you can find objects at more affordable prices, which allows you to count on high returns.

Impact of the holiday season on prices

In both countries, the holiday season has a significant impact on real estate prices. In Spain, the peak season is during the summer months, when the demand for rentals reaches a maximum. This allows property owners to receive high yield on short-term rentals.

In Turkey, the holiday season also starts in spring and lasts until fall. This creates favorable conditions for investors, who can count on stable flow of tourists and high demand for rentals for a few months out of the year.

Future projects and infrastructure development

Spain continues to develop infrastructure in popular tourist regions. New projects include construction of modern residential complexes, improvement of transportation accessibility and development of tourist facilities. This contributes to real estate appreciation and increase its attractiveness to investors.

Turkey is also actively implementing projects to develop resort infrastructure. The government plans to improve the transportation network, build new hotels and entertainment complexes. This opens up new investment opportunities and makes Turkey even more attractive to foreign buyers.

Long-term trends: which regions are the most promising?

In Spain, the most promising regions for investment remain Barcelona, Costa Brava and Malaga. Here we can observe steady growth in real estate pricesThis makes them attractive for long-term investments.

In Turkey, Antalya, Bodrum and Izmir are considered promising regions. These cities are actively developing and attracting more and more tourists, which creates a favorable conditions for real estate value growth and generating rental income.

Yield from short-term and long-term leases

Investing in real estate abroad is not only an opportunity to preserve capital, but also a chance to receive a stable rental income. Let's take a look at the rental yields in Turkey and Spain and what factors influence its level.

Average rental yields in major cities and resorts

Turkey offers attractive conditions for those considering investment in rental real estate. In cities such as Istanbul and Antalya, Short-term rental yields can be as high as 8-10% per annum. This is due to the high tourist flow and affordable housing prices, which makes Turkey one of the leaders in terms of profitability in the region.

In Spain rental yields also remain high, especially in major cities and resort areas. In Barcelona and Madrid Long-term rental yields are around 4-5% per annumIn resorts such as Costa Brava and Malaga, short-term rentals can yield up to 7-8% per annum. In resorts such as Costa Brava and Malaga, short-term rentals can yield up to 7-8% per annum.

Seasonality and impact of tourist flow

In both countries, seasonality plays a key role in generating rental yields. In Turkey, the tourist flow peaks in the summer months, when rental prices can rise significantly. This allows property owners to receive high yield on short-term rentals for a few months out of the year.

In Spain, the tourist season also begins in spring and lasts until fall. At this time, the demand for rentals increases, especially in popular resort areas, which helps to increase profitability. However, in major cities such as Barcelona and Madrid, rental demand remains high all year round due to the developed infrastructure and business activity.

Advantages and disadvantages of short-term and long-term leases

Short-term rentals in Turkey and Spain can generate higher income, but require more attention and management. Owners need to constantly look for new tenants, keep an eye on the condition of the property and provide maintenance. However, high profitability and the possibility of flexible pricing make this an attractive option for many investors.

Long-term rentals, on the other hand, provide a stable income and require less owner involvement. In Spain, this type of rental is particularly popular in the major cities, where demand for housing remains high all year round. Reliability and predictability of income make long-term leasing a suitable option for those looking for stability and minimal risk.

Economy and life in Turkey and Spain

When choosing a country for real estate investment, it is important to consider not only the market, but also the general standard of living, economic stability and cost of living. Let's take a look at how things stand with these aspects in Turkey and Spain.

Living standards and incomes of the population

Spain is known for its high standard of living, which makes it attractive for permanent residence. The average per capita income here is higher than in Turkey, which is reflected in the quality of infrastructure, healthcare and education. Spaniards enjoy a well-developed social system and a stable economy, which provides high level of comfort and safety.

In Turkey the standard of living may be lower, but the country is actively developing and offers many business and investment opportunities. The average per capita income is lower than in Spain, but this is offset by a lower cost of living and affordable prices for goods and services.

Cost of living: food, utilities, entertainment

Spain has a higher cost of living than Turkey. Prices for food and utilities can vary from region to region, but on average they remain at a level typical of developed European countries. Entertainment and leisure activities can also be more expensive, especially in major cities and resort areas.

In Turkey, the cost of living is significantly lower. Food, utilities and entertainment are available at lower prices, making the country attractive to those looking for economical living. Availability and diversity of goods and services allow you to enjoy a comfortable life without spending a lot of money.

Economic development and investment climate

Spain's economy remains stable thanks to its EU membership and a developed tourism industry. This creates a favorable climate for investment and provides for steady growth in real estate prices. The government actively supports foreign investors by offering various programs and incentives.

Turkey, in its turn, demonstrates dynamic development and seeks to attract foreign investors. The country offers many business and investment opportunities, especially in real estate and tourism. Flexibility and openness of the economy make Turkey attractive to those looking for new markets and growth prospects.

Education and medicine

When choosing a country for real estate investment or permanent residence, it is important to consider the quality of the education system and medical care. Let's take a look at how things are in Turkey and Spain.

Education system: schools, universities, English language education

Spain offers high quality education, which makes it attractive for families with children. The country has many public and private schools, as well as international educational institutions where instruction is in English. Private school fees can range from €5,000 to €15,000 per yearDepending on the level and prestige of the institution. Spanish universities also enjoy a good reputation and offer a wide range of programs in English.

In Turkey the education system is actively developing and offers many opportunities for international students. There are both public and private schools in the country, many of which offer instruction in English. Private school fees can range from 3,000 to 10,000 euros per yearThis makes Turkey more accessible to families on a tight budget. Turkish universities also offer programs in English, attracting students from all over the world.

Level of medical care

Spain is known for its high level of medical care, which makes it attractive for permanent residence. The public health care system provides free medical care for residentsand also offers quality services in private clinics. The cost of health insurance for non-residents can range from 500 to 1,500 euros per yearDepending on the plan you choose and the level of coverage you have.

In Turkey, medical services are also of a high standard, especially in major cities and tourist areas. Public hospitals offer affordable services, but many foreigners prefer to go to private clinics where the quality of care is higher. The cost of health insurance for non-residents can range from €300 to €1,000 per yearThis makes Turkey more accessible in terms of health care.

Cost of medical services and insurance for residents and non-residents

In Spain, residents can count on free medical care in public institutions, which is a significant advantage for those who plan to live permanently. Non-residents can take advantage of private medical services, which are of high quality and affordable.

In Turkey, medical services are also available at reasonable prices, especially in private clinics. Insurance reduces treatment costs and provides access to a wide range of medical services. Flexibility and accessibility of the health care system make Turkey attractive to foreign investors and residents.

Roads and transportation

Transportation infrastructure is an important aspect when choosing a country for real estate investment or permanent residence. Let's take a look at how things are with roads and transportation in Turkey and Spain, and what opportunities they offer.

Development of road infrastructure

Spain has one of the most developed road networks in Europe. Freeways and highways connect all major cities and resort areas, providing convenient and fast access to different regions of the country. The quality of roads in Spain is highThis makes traveling through the country comfortable and safe. An important advantage is the availability of toll roads, which help to reduce travel time.

In Turkey road infrastructure is also actively developing. In recent years, many new highways and bridges have been built, which has significantly improved transport connections between the regions. The quality of roads in Turkey variesBut in general they are in good condition, especially in major cities and tourist areas.

Level of public transportation and its cost

In Spain, public transportation is well developed and offers a wide range of options for getting around. Major cities such as Madrid and Barcelona have modern subways, buses and streetcars that provide convenient access to different neighborhoods. The cost of public transportation is about 1.5-2 euros per tripmaking it accessible to most residents and tourists.

In Turkey, public transportation also offers many options for getting around. Istanbul and Ankara have subways, buses, and streetcars that provide convenient and inexpensive transportation around the city. The cost of public transportation in Turkey is about 0.5-1 euros per tripmaking it one of the most affordable in the region.

Availability of international flights

Spain is one of Europe's largest aviation hubs, providing excellent accessibility to international flights. Madrid and Barcelona airports offer a wide range of flights to various countries around the worldwhich makes traveling convenient and fast. This is especially important for those who plan frequent trips abroad.

Turkey also has a well-developed aviation infrastructure. Istanbul Airport is one of the largest in the world and offers wide range of international flightsThe Antalya and Izmir airports also offer many flights to Europe and other regions. Antalya and Izmir airports also offer many flights to Europe and other regions.

Legal and tax specifics

Acquiring real estate abroad requires careful study of legal and tax aspects. Let's look at what peculiarities await investors in Turkey and Spain, and what you should pay attention to.

To summarize, both Turkey and Spain offer transparent conditions for buying real estate, but require careful attention to legal and tax aspects. The choice depends on your preferences and willingness to comply with all necessary procedures.

What should an investor choose? Final comparison

When it comes to choosing between real estate in Turkey and real estate in SpainIn order to make an informed decision, every investor must consider many factors. Let's summarize and compare the main pros and cons of buying real estate in these countries.

Real estate value

In Turkey, real estate is more affordable. The average cost per square meter in popular regions such as Antalya and Bodrum is about 1,200-1,500 euros. This makes Turkey attractive to those looking for profitable investments with lower costs.

In Spain, the cost of real estate is higher. In large cities and on the coast, such as Barcelona and Madrid, the average cost per square meter can reach 3,500-4,000 euros. This reflects high demand and limited supply.

Rental yield

Turkey offers high returns on short-term rentals, especially in tourist areas. This is due to the high flow of tourists and affordable housing prices, making it attractive to investors looking for a quick return.

In Spain, rental yields are more stable, especially in the larger cities. There is a high demand for long-term rentals, which provides a reliable and predictable income for property owners.

Standard of living

Turkey offers a growing economy and an affordable cost of living. This makes it attractive to those seeking economical living and business opportunities.

Spain is famous for its high standard of living and developed infrastructure. It is an ideal place for those who appreciate comfort, security and well-developed social services.

Legal and tax aspects

In Turkey, legislation is more flexible and property taxes are lower. This simplifies the purchase process and makes it affordable for foreign investors.

In Spain, the legislation is stricter, which ensures high protection of owners' rights. However, this may mean higher taxes and a longer transaction process.

Possibilities of obtaining a residence permit

In Spain you can get a golden visa if you buy real estate for the amount of from 500,000 euros. This opens up access to living in the country and traveling within the EU.

Turkey offers the possibility of obtaining a residence permit through the purchase of real estate in the amount of from $250,000. This makes it attractive to those who want to obtain residency at a lower cost.

Recommendations

Investments in Turkey will suit those who are looking for affordable options and high rental yields. It is also a good choice for those who want to get a residence permit with lower costs and are ready for dynamic market development.

Investing in Spain should be considered by those who value stability, high standard of living and developed infrastructure. Spain will be an ideal choice for those who are planning long-term residence and want to take advantage of the benefits of European citizenship.

Conclusion

To summarize, both Turkey and Spain offer unique real estate investment opportunities. The choice depends on your personal preferences, financial capabilities and goals. If you still have questions or would like more information, do not hesitate to contact us. We are always ready to help you make the right choice for your investment.