The major differences between real estate investment in Portugal and Turkey

Real estate investment is one of the investors' most famous methods to secure profits. Many investors are looking for genuine opportunities to profit by buying a property or several properties. This matter depends on the budget and availability of suitable options locally and globally. 

Investors face complex challenges in choosing, especially in European countries, due to the lack of conditions for thriving, genuine estate investment. This is due to several reasons, the most important of which are the laws of ownership and buying according to each country, which often makes successful investment difficult. 

Investment opportunities are traded in Portugal with brief descriptions of how to benefit from the real estate residence there without addressing how to guarantee the investment and that the property will make a profit within a specified and previously announced period, as the value purchased is not a manageable number, so we are at Deal Real Estate have studied the most important differences between real estate investment in Portugal and Turkey. 

Living in Portugal or Turkey? 

One of the essential conditions for real estate investment success in Western countries is understanding the environment, culture, and living conditions in general. Sometimes, some things must be studied until the decision is made on whether this investment meets the aspirations of the investor or not. 

Many things differ in many respects between living in Turkey and Portugal; one of the most significant differences is the language. The Portuguese language, derived from the Latin language, is used, while the Turkish language has many Arabic words, which helps to learn it faster. Therefore, we must direct our approach to culture when we talk about language. Many foreign and Arab investors, in particular, have chosen Turkey as an investment destination and even a place for their families to settle because of the Turkish culture, which is very close to Arab culture compared to European culture. Specifically, Turkey is an Islamic country and is famous for its mosques compared to Portugal; there is a scattered Islamic community in several cities, numbering approximately tens of thousands. 

If you think about settling in any country, the first idea that comes to mind is the cost of living. The average monthly income per capita in Portugal is about 855 euros after taxes. This figure is considered modest compared to different European countries. For apartment rental prices per month, fees range from 1,000 euros to 1,800 euros, depending on the country. The number of rooms, the city, and the pensioners get about six hundred euros per month, and for the monthly groceries expenses, it is no less than two hundred euros per month. 

As for Turkey, the average per capita income per month is about six hundred dollars, and the rent prices range from 300 to 1000 dollars, depending on the city and region. The monthly grocery expense is about one hundred dollars if it is Istanbul. 

The average cost of living in Portugal and Turkey

Advantages of real estate investment worth 500,000 euros

Portugal also allows obtaining real estate residency by purchasing a property worth 350,000 euros, In addition to particular conditions:

• The age of the building should be more than 30 years.
• Renewed is required by the buyer with limited options in certain cities within Portugal,
• Foreign investors will not be allowed to buy property within big cities such as Lisbon and Porto by the end of 2021.

When we decided to make this approach or comparison, we saw that the amount of 500.000 euros could nominate the investor to obtain Turkish citizenship through real estate investment and immediately and benefit from the power of the Turkish passport as well as the privileges of the Turkish citizen.

In the process of real estate investment in Portugal, the residence is granted only for two years, which is renewed until the fifth year, after which the application for permanent residence is applied.

In Turkey, you can invest in real estate and benefit from real estate residency, provided you purchase a property valued at least $75,000. Then, the property's value is evaluated by a specialized government committee.

Advantages of obtaining real estate residency by buying a property

We will compare the most critical items available for real estate residency by purchasing a property, indicating that the value of bringing five real estate residency in Portugal is 500.000 euros and real estate residency in Turkey is worth $75,000.

Here, of course, we are talking about real estate residency. Still, when we compare the advantages of real estate residency in Portugal and Turkey, we have seen a big difference in the purchasing value of the property, which approaches very far, so we decided to compare the golden residency in Portugal with Turkish citizenship.

One of the most important things is that Turkish citizenship is granted through real estate investment within a maximum period of 90 days, compared to obtaining Portuguese citizenship, which is granted after five years of getting real estate residence through real estate investment.

Compare properties available in Istanbul and Lisbon

Documents Required for Golden Residency in Portugal

• Get a Portuguese Financial Identification Number
• Investor's passport
• passport holder photos
• Proof of the investor's financial ability
• Obligation to prove tax payment in Portugal
• Proof of previous travel to the Schengen area
• Fee payment receipt
• public health insurance
• A criminal record certificate from the country of origin valid for at least one year
• Oath letter to abide by all investment laws for five years

Documents required to obtain Turkish citizenship

• A copy of the title deed
• Real estate report issued by the appraisal agency
• Payment documents for the property
• Two copies of the particular agency document from the buyer
• A certified and translated copy of the passport
• A certified and translated copy of the birth certificate

Written by: Deal Real Estate