Ankara is the capital of Turkey, a city filled with museums and historical monuments. Besides its historical importance, Ankara is economically important to Turkey as a large industrial center.
Turkey now grants citizenship to foreigners when they purchase properties to live in or lease. While most applicants are looking in Istanbul, Ankara may be a hidden gem.
What are the benefits of investing in Ankara real estate?
1. Ankara, a highly developed city
As the capital of Turkey, Ankara is very developed and highly urbanized. Its modern yet affordable infrastructure allows you to purchase property at a much more reasonable cost when compared to the other countries in Europe.
Transportation is made much easier and more convenient in Ankara owing to its latest addition, the Ankara metro. Moreover, the city is equipped with two major airports, making it one of the most convenient cities.
Ankara houses many multinational companies and therefore offers many employment opportunities, attracting many expats and professional immigrants. Some well-known companies in Ankara include Ozdabak International trade, Dora Pharm LLC, Temalar Ltd, and many others.
2. A more straightforward method to obtain a Turkish citizenship
The most significant advantage of investing in Ankara real estate is the buyer’s opportunity to acquire Turkish citizenship. Indeed, by investing in a property worth at least $400,000, you would become eligible to apply for a Turkish passport through its Citizenship by Investment program.
3. Low cost of living
While Ankara is highly developed and modern, its housing market is still affordable. One can easily afford a comfortable and aesthetic apartment in Ankara with an average salary.
A recent study indicates that the monthly expense for a family of four, excluding the rent, comes to around USD 1,292.55 and a three-course meal for two people at a semi-expensive restaurant comes to about 16.20 USD. This is much lesser than what you can expect from any other European or American capital.
4. An excellent investment
The best part about this investment is that even if you do not decide to live in Ankara or even become a Turkish citizen, you can still reap the benefits of the investment. The monthly rental yield for a one-bedroom apartment in the city center is around 7.5% (City Center) and 6.93% (Outside the City). Therefore by renting an apartment, you can secure a steady monthly income by renting or leasing the apartments.
The increase in property prices in Ankara from 2014 to 2022 proves how beneficial investing in Turkish capital real estate has been. At the beginning of 2014, the average price per square meter was around 1,198 TL, and the average price per square meter in 2022 was around 4,047 TL.
5. Great Neighbourhoods.
Ankara comprises some of the best neighborhoods, including Golbasi, Oran, and Cankaya, which buyers usually prefer.
Golbasi is known for its scenic natural beauty and peaceful life. It houses some of the prettiest lakes in Turkey, such as Eymir and Mogan. The Beynam Ataturk Forest is yet another landscape that attracts expats to Golbasi.
Oran is the city district with the most developed infrastructure. This district has many hospitals, banks, schools, and MNCs. The transportation system of Oran is also one of the most developed. The ease of commuting allows you to live your most effortless life without getting into traffic. However, because of its various facilities and convenience, Oran is a tad more expensive than the other neighborhoods in Ankara.
Cankaya is located at the city’s heart and is Ankara’s economic, administrative, and cultural hub, where every event of importance takes place. Cankaya is also home to the grand national assembly of turkey, embassies, ministries, and some of the best hospitals and universities, which makes it the most preferred district to move to for many immigrant investors.