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23.10.2026
Turkey, Dubai, Cyprus, Bali or Thailand: Where to Buy Real Estate in 2026
Author: Sergei Dubinets, founder and CEO of DDA Real Estate Turkey, licensed broker. Updated: October 2026
"Sergei, why Turkey and not Dubai? What about Bali? Or Cyprus?" I get asked this question all the time, and I will answer honestly. Every country has its advantages, and I will not hide them. But what matters to an investor is not beautiful views, but three things: whether the property will truly be theirs, who will buy it later, and what it will give their family. I have lived and worked in Turkey since 2020 and have been in real estate since 2007, and in this article I compare the five most popular destinations across 8 criteria.
In Short: Where to Buy Real Estate in 2026, in 5 Facts
1 Turkey is the only one of the five countries that grants citizenship for buying real estate: from $400,000, and after 3 years the apartment can be sold.
2 In Turkey, more than 98% of home buyers are locals. In Dubai, Bali and Thailand, the market relies mainly on foreigners.
3 Over 12 months, prices in Turkey rose by 4.7% in dollars in Antalya and by 7.3% in dollars in Istanbul, while in Dubai they fell by 3.1%.
4 Dubai is strong in transparency and zero taxes, Cyprus offers EU residency, and Bali and Thailand attract buyers with tourist rentals.
5 For those who want ownership, an inheritance, a passport and liquidity at exit, Turkey looks the strongest of all today across the combined criteria.
Turkey, Dubai, Cyprus, Bali and Thailand: A Comparison Across 8 Criteria
First, the hard facts as of October 2026, and below, my opinion on each country.
Sources: TÜİK and the Central Bank of Turkey (September 2026), ValuStrat (Dubai, August 2026), Knight Frank, Global Property Guide, country rules as of October 2026, Guinness World Records (Turkish Airlines).
Why I Choose Turkey: 8 Advantages for Investors
I invest in Turkish real estate myself and live here between two cities, Antalya and Istanbul. So I will tell you not what the advertising brochures say, but what I know from my own experience.
1. Location
Turkey sits at the crossroads of Europe and Asia. From most of Eurasia you can fly here in 3-5 hours: about 3.5-4 hours from Moscow and St. Petersburg, about 2 hours from Sochi, about 5 hours from Astana, and 3-4 hours from Berlin or London. Turkish Airlines flies to more countries than any other airline in the world, a fact even recorded in the Guinness Book of World Records. In practice, this means You can fly to your apartment for the weekend, or take care of business and return the same day. And there are four real seasons here: a warm sea in summer, mild winters on the coast and mountain resorts an hour's drive away.
2. Legacy and Property Protection
For me, this is the most important thing. When it comes to property, Turkey reminds me of a Swiss bank: a foreigner is protected just like a Turkish citizen. Your property is registered in Your name in the state registry, it cannot be taken away because of Your citizenship, and it passes to Your children by inheritance without complications. The family gets an asset that does not depend on the term of a land lease or on the mood of banks.
3. Security and Neutrality
Turkey is friendly to foreigners and trades with the whole world. It is a member of NATO and of the customs union with the EU, while maintaining working relations with the US, China, Russia, the Persian Gulf states and Central Asia. For an investor from any country, this means one thing: Your passport will not become a problem for Your property.
4. Reasonable Compliance
Turkey also checks the origin of funds, and that is right. But there is no banking compliance here as strict as in Dubai or Cyprus, where a review can take months and citizens of sanctioned countries are often simply refused. Buying honestly, in your own name and through a bank is still realistic in Turkey.
5. Citizenship Through a Recoverable Investment
Turkey is one of the few countries in the world where citizenship can be obtained legally, quickly and through a recoverable investment. You buy property from $400,000, get a passport for the whole family, and after 3 years you can sell the property and get your money back. In the Caribbean, part of the amount goes into a fund for good. And many of my Clients deliberately keep the apartment after 3 years because it generates good income. A Turkish passport becomes a backup plan for the family and a tool for international business.
6. Residence Permit
A residence permit through property purchase is granted from $200,000, which is roughly 2.7 times cheaper than the Golden Visa in Dubai. And for those who simply want to live and vacation in Turkey, there is the tourist residence permit: owners of apartments worth $70,000-100,000 also obtain it.
7. Liquidity: Who Will Buy Your Apartment?
This is the question I consider the most important when choosing a country. In Turkey, more than 98% of home buyers are locals, and the most expensive properties in Istanbul, Ankara and Bodrum are bought by Turks. According to the UBS Global Wealth Report 2025, Turkey ranked first among 56 countries for growth in the number of dollar millionaires: +8.4% in a year, almost 68,000 people, ahead of even the UAE. In Dubai, Bali and Thailand, the buyer at exit will again be a foreigner. In Turkey, a local family will want to buy Your apartment if the property is chosen in a district with local demand.
8. An International Business Hub
Istanbul connects Europe, Asia and the Middle East. Many entrepreneurs obtain a Turkish passport precisely to grow an international business, open accounts and work with partners all over the world.
Sources: UBS Global Wealth Report 2025; Guinness World Records; TÜİK; prices and rules as of October 2026.
Dubai: Its Strengths and Where the Risks Lie
To be honest, Dubai has serious advantages. A transparent transaction registration system, no tax on property, rental income or sales, and the dirham is pegged to the dollar. A convenient location and a major aviation hub, and the city itself is developed and promoted as a brand very powerfully.
But there are also things that advertising usually leaves out.
- Who buys. UAE citizens make up roughly 10% of the population, and in my experience, transactions with local buyers account for no more than 5%. The market relies on foreigners and new builds.
- Installment plans and resale. New builds are sold with interest-free installment plans of 5-6 years, which is tempting. But when an investor wants to sell their apartment, they compete with the developer offering the same installment plan. That is why resale property in Dubai is often cheaper than primary-market property and takes a long time to sell.
- Sensitivity to external events. When demand relies on foreigners, any fluctuations on the international stage are quickly reflected in prices. Over 12 months, prices in Dubai fell by 3.1% according to ValuStrat.
- Entry threshold and compliance. The Golden Visa starts from AED 2 million (around $545,000), and bank checks for citizens of a number of countries have become noticeably stricter.
- Climate for living. In summer, there is heat and desert, so coming there to relax year-round is not as pleasant as on the Mediterranean.
My conclusion: Dubai is good for those who value zero taxes and a short off-plan investment cycle. But if You are buying for your family and for the long term, it is important to understand who will buy Your property in 10 years.
Sources: ValuStrat (August 2026), Dubai Land Department, Global Property Guide; share of transactions with local buyers based on the author's estimate.
Bali and Thailand: Beautiful, but Not Yours
Asia attracts people with promises of high returns from tourist rentals, and I understand why people fall in love with these places. But an investor faces one main problem there: a foreigner does not become a full owner.
Bali
- A foreigner gets a lease or a right of use for a fixed term. With every year, less of the term remains, and the property effectively loses value.
- The local market does not buy expensive real estate; everything is designed for foreigners.
- After the September 2025 floods, the island authorities banned new tourist construction in 6 districts and the issuance of permits on agricultural land. Projects built on unauthorized land have been hit hard.
- Developers who entered the market without their own capital and built with buyers' money faced cash flow gaps when sales fell. In October 2026, Bali prosecutors detained the director of a developer from Jimbaran: the company went bankrupt without handing over 125 paid-for condotel units. Meanwhile, hundreds of hotels and villas have been put up for sale: supply grew faster than tourist numbers.
- A land lease agreement with a local owner can become the subject of a dispute, and in such a dispute the foreigner is often the weaker party.
Thailand
Thailand is a more mature and established market than Bali, and Bangkok has local demand. But a foreigner can only own an apartment within the 49% quota per building, and land cannot be bought. For years, villas were registered through companies with nominee Thai shareholders, and in 2026 the government cracked down on these schemes in earnest: in Phuket alone, around 30,000 companies were inspected. Such arrangements are not protected in court, and violations carry up to 3 years in prison. Add to that a long flight and a ban on rentals shorter than 30 days in regular apartments.
Sources: Bali Property Rules (2025-2026 moratorium), The Bali RealEstate Dispatch (09.10.2026), Nomad Lawyer (07.10.2026), Nation Thailand, Knight Frank.
Cyprus: Europe, but with Strict Compliance
Cyprus has a clear advantage: it is an EU country with a warm sea and the right to permanent residency when buying a new build from €300,000. But an investor should know three things.
- Citizenship by investment no longer exists. The program was shut down in 2020 after a scandal.
- Strict banking compliance. Since sanctions were introduced, Cypriot banks take 3-6 months to review a transaction. For citizens of countries under EU sanctions, buying property in their own name through a Cypriot bank is very difficult, and they are often offered schemes through companies in third countries. I consider such schemes dangerous: if the property is not registered directly in Your name, You are not the owner, but depend on someone else's structure and on how the sanctions change.
- Northern Cyprus is a separate story. It is cheaper and easier to buy there, but some of the land belonged to Greek Cypriots before 1974, and such titles can be disputed. I will cover this topic in detail in a separate article.
My conclusion: Cyprus suits those who hold a passport from a country without sanctions restrictions and who specifically need an EU residence permit. For everyone else, it is a long and risky path.
Sources: Cyprus Mail (14.07.2026), Property Lawyer Cyprus (permanent residency from €300,000), rules of the Republic of Cyprus as of October 2026.
My Conclusion: Which Country Fits Your Goal
If what matters to you is
What I would choose
Citizenship for the family with your money returned
Turkey
Ownership and an inheritance for your children
Turkey or Dubai
Liquidity and a local buyer at exit
Turkey
Zero taxes and a short off-plan investment cycle
Dubai
EU residence and a passport not subject to sanctions
Cyprus
Life by the ocean with no aim to make money
Bali or Thailand, but better to rent
All at once: family, passport, income, location and security
Turkey
Each of these countries is wonderful in its own way, and I won't say you can't make money in Dubai or Thailand. But if you put all 8 criteria side by side, Turkey today is the only country that offers full ownership, inheritance protection, citizenship, a large base of local buyers and price growth in dollars all at once. That is exactly why I live and invest here myself. My apartment in Konyaaltı has gone up in value by 25% in two years and is rented out at a yield of around 8%, while my apartment in Istanbul's Maltepe district has grown by 15% in a year and a half and brings in around 7% a year.
FAQ
Which is better for investment: Turkey or Dubai?
Dubai's strengths are zero taxes and transparency, but its market relies on foreigners, and prices fell by 3.1% over the year. In Turkey, more than 98% of buyers are locals, prices are rising in dollars, and a purchase from $400,000 qualifies you for citizenship.
Which country grants citizenship for buying real estate?
Of the five countries in this article, only Turkey: from $400,000, with the right to sell the property after 3 years. Cyprus closed its program in 2020.
Can a foreigner own property in Bali?
No, only lease it or hold a right of use for a fixed term. Full ownership with inheritance rights, as in Turkey, does not exist there.
Can a citizen of a sanctioned country buy property in Cyprus?
Formally it is possible, but the bank review takes months and often ends in a rejection. I do not recommend schemes that go through companies in third countries.
Where is real estate liquidity higher?
Where it is bought by the local population. In Turkey, that is more than 98% of transactions, and according to UBS, the number of dollar millionaires is growing faster than anywhere else in the world.
How DDA Real Estate Turkey helps
I don't sell a Client a country, I help them choose. If Your goal is better served by another country, I will tell you so honestly. And if the choice falls on Turkey, the Company:
- selects properties based on 10 liquidity metrics, guided by demand from local buyers;
- handles citizenship and residence permit applications in a fully legal way;
- makes all payments only through a bank and only in Your name;
- operates offices in Istanbul and Antalya, so You can always visit in person.
About the Author
Sergei Dubinets - founder and CEO of DDA Real Estate Turkey, licensed broker, entrepreneur, investor and economist. He has lived and worked in Turkey since 2020 and has worked in real estate and real estate law since 2007. He invests in Turkish real estate himself and splits his time between two cities, Antalya and Istanbul. ddakey.com
Sources: TÜİK; Central Bank of the Republic of Turkey (KFE, September 2026); UBS Global Wealth Report 2025; Guinness World Records; ValuStrat; Dubai Land Department; Knight Frank; Global Property Guide; Cyprus Mail (14.07.2026); Property Lawyer Cyprus; Bali Property Rules; The Bali RealEstate Dispatch (09.10.2026); Nomad Lawyer (07.10.2026); Nation Thailand; DDA Real Estate Turkey monthly report for September 2026.
This article is for informational purposes only.
Get a free expert consultation
23.10.2026
Turkey, Dubai, Cyprus, Bali or Thailand: Where to Buy Real Estate in 2026
Author: Sergei Dubinets, founder and CEO of DDA Real Estate Turkey, licensed broker. Updated: October 2026
"Sergei, why Turkey and not Dubai? What about Bali? Or Cyprus?" I get asked this question all the time, and I will answer honestly. Every country has its advantages, and I will not hide them. But what matters to an investor is not beautiful views, but three things: whether the property will truly be theirs, who will buy it later, and what it will give their family. I have lived and worked in Turkey since 2020 and have been in real estate since 2007, and in this article I compare the five most popular destinations across 8 criteria.
In Short: Where to Buy Real Estate in 2026, in 5 Facts
1 Turkey is the only one of the five countries that grants citizenship for buying real estate: from $400,000, and after 3 years the apartment can be sold.
2 In Turkey, more than 98% of home buyers are locals. In Dubai, Bali and Thailand, the market relies mainly on foreigners.
3 Over 12 months, prices in Turkey rose by 4.7% in dollars in Antalya and by 7.3% in dollars in Istanbul, while in Dubai they fell by 3.1%.
4 Dubai is strong in transparency and zero taxes, Cyprus offers EU residency, and Bali and Thailand attract buyers with tourist rentals.
5 For those who want ownership, an inheritance, a passport and liquidity at exit, Turkey looks the strongest of all today across the combined criteria.
Turkey, Dubai, Cyprus, Bali and Thailand: A Comparison Across 8 Criteria
First, the hard facts as of October 2026, and below, my opinion on each country.
Sources: TÜİK and the Central Bank of Turkey (September 2026), ValuStrat (Dubai, August 2026), Knight Frank, Global Property Guide, country rules as of October 2026, Guinness World Records (Turkish Airlines).
Why I Choose Turkey: 8 Advantages for Investors
I invest in Turkish real estate myself and live here between two cities, Antalya and Istanbul. So I will tell you not what the advertising brochures say, but what I know from my own experience.
1. Location
Turkey sits at the crossroads of Europe and Asia. From most of Eurasia you can fly here in 3-5 hours: about 3.5-4 hours from Moscow and St. Petersburg, about 2 hours from Sochi, about 5 hours from Astana, and 3-4 hours from Berlin or London. Turkish Airlines flies to more countries than any other airline in the world, a fact even recorded in the Guinness Book of World Records. In practice, this means You can fly to your apartment for the weekend, or take care of business and return the same day. And there are four real seasons here: a warm sea in summer, mild winters on the coast and mountain resorts an hour's drive away.
2. Legacy and Property Protection
For me, this is the most important thing. When it comes to property, Turkey reminds me of a Swiss bank: a foreigner is protected just like a Turkish citizen. Your property is registered in Your name in the state registry, it cannot be taken away because of Your citizenship, and it passes to Your children by inheritance without complications. The family gets an asset that does not depend on the term of a land lease or on the mood of banks.
3. Security and Neutrality
Turkey is friendly to foreigners and trades with the whole world. It is a member of NATO and of the customs union with the EU, while maintaining working relations with the US, China, Russia, the Persian Gulf states and Central Asia. For an investor from any country, this means one thing: Your passport will not become a problem for Your property.
4. Reasonable Compliance
Turkey also checks the origin of funds, and that is right. But there is no banking compliance here as strict as in Dubai or Cyprus, where a review can take months and citizens of sanctioned countries are often simply refused. Buying honestly, in your own name and through a bank is still realistic in Turkey.
5. Citizenship Through a Recoverable Investment
Turkey is one of the few countries in the world where citizenship can be obtained legally, quickly and through a recoverable investment. You buy property from $400,000, get a passport for the whole family, and after 3 years you can sell the property and get your money back. In the Caribbean, part of the amount goes into a fund for good. And many of my Clients deliberately keep the apartment after 3 years because it generates good income. A Turkish passport becomes a backup plan for the family and a tool for international business.
6. Residence Permit
A residence permit through property purchase is granted from $200,000, which is roughly 2.7 times cheaper than the Golden Visa in Dubai. And for those who simply want to live and vacation in Turkey, there is the tourist residence permit: owners of apartments worth $70,000-100,000 also obtain it.
7. Liquidity: Who Will Buy Your Apartment?
This is the question I consider the most important when choosing a country. In Turkey, more than 98% of home buyers are locals, and the most expensive properties in Istanbul, Ankara and Bodrum are bought by Turks. According to the UBS Global Wealth Report 2025, Turkey ranked first among 56 countries for growth in the number of dollar millionaires: +8.4% in a year, almost 68,000 people, ahead of even the UAE. In Dubai, Bali and Thailand, the buyer at exit will again be a foreigner. In Turkey, a local family will want to buy Your apartment if the property is chosen in a district with local demand.
8. An International Business Hub
Istanbul connects Europe, Asia and the Middle East. Many entrepreneurs obtain a Turkish passport precisely to grow an international business, open accounts and work with partners all over the world.
Sources: UBS Global Wealth Report 2025; Guinness World Records; TÜİK; prices and rules as of October 2026.
Dubai: Its Strengths and Where the Risks Lie
To be honest, Dubai has serious advantages. A transparent transaction registration system, no tax on property, rental income or sales, and the dirham is pegged to the dollar. A convenient location and a major aviation hub, and the city itself is developed and promoted as a brand very powerfully.
But there are also things that advertising usually leaves out.
- Who buys. UAE citizens make up roughly 10% of the population, and in my experience, transactions with local buyers account for no more than 5%. The market relies on foreigners and new builds.
- Installment plans and resale. New builds are sold with interest-free installment plans of 5-6 years, which is tempting. But when an investor wants to sell their apartment, they compete with the developer offering the same installment plan. That is why resale property in Dubai is often cheaper than primary-market property and takes a long time to sell.
- Sensitivity to external events. When demand relies on foreigners, any fluctuations on the international stage are quickly reflected in prices. Over 12 months, prices in Dubai fell by 3.1% according to ValuStrat.
- Entry threshold and compliance. The Golden Visa starts from AED 2 million (around $545,000), and bank checks for citizens of a number of countries have become noticeably stricter.
- Climate for living. In summer, there is heat and desert, so coming there to relax year-round is not as pleasant as on the Mediterranean.
My conclusion: Dubai is good for those who value zero taxes and a short off-plan investment cycle. But if You are buying for your family and for the long term, it is important to understand who will buy Your property in 10 years.
Sources: ValuStrat (August 2026), Dubai Land Department, Global Property Guide; share of transactions with local buyers based on the author's estimate.
Bali and Thailand: Beautiful, but Not Yours
Asia attracts people with promises of high returns from tourist rentals, and I understand why people fall in love with these places. But an investor faces one main problem there: a foreigner does not become a full owner.
Bali
- A foreigner gets a lease or a right of use for a fixed term. With every year, less of the term remains, and the property effectively loses value.
- The local market does not buy expensive real estate; everything is designed for foreigners.
- After the September 2025 floods, the island authorities banned new tourist construction in 6 districts and the issuance of permits on agricultural land. Projects built on unauthorized land have been hit hard.
- Developers who entered the market without their own capital and built with buyers' money faced cash flow gaps when sales fell. In October 2026, Bali prosecutors detained the director of a developer from Jimbaran: the company went bankrupt without handing over 125 paid-for condotel units. Meanwhile, hundreds of hotels and villas have been put up for sale: supply grew faster than tourist numbers.
- A land lease agreement with a local owner can become the subject of a dispute, and in such a dispute the foreigner is often the weaker party.
Thailand
Thailand is a more mature and established market than Bali, and Bangkok has local demand. But a foreigner can only own an apartment within the 49% quota per building, and land cannot be bought. For years, villas were registered through companies with nominee Thai shareholders, and in 2026 the government cracked down on these schemes in earnest: in Phuket alone, around 30,000 companies were inspected. Such arrangements are not protected in court, and violations carry up to 3 years in prison. Add to that a long flight and a ban on rentals shorter than 30 days in regular apartments.
Sources: Bali Property Rules (2025-2026 moratorium), The Bali RealEstate Dispatch (09.10.2026), Nomad Lawyer (07.10.2026), Nation Thailand, Knight Frank.
Cyprus: Europe, but with Strict Compliance
Cyprus has a clear advantage: it is an EU country with a warm sea and the right to permanent residency when buying a new build from €300,000. But an investor should know three things.
- Citizenship by investment no longer exists. The program was shut down in 2020 after a scandal.
- Strict banking compliance. Since sanctions were introduced, Cypriot banks take 3-6 months to review a transaction. For citizens of countries under EU sanctions, buying property in their own name through a Cypriot bank is very difficult, and they are often offered schemes through companies in third countries. I consider such schemes dangerous: if the property is not registered directly in Your name, You are not the owner, but depend on someone else's structure and on how the sanctions change.
- Northern Cyprus is a separate story. It is cheaper and easier to buy there, but some of the land belonged to Greek Cypriots before 1974, and such titles can be disputed. I will cover this topic in detail in a separate article.
My conclusion: Cyprus suits those who hold a passport from a country without sanctions restrictions and who specifically need an EU residence permit. For everyone else, it is a long and risky path.
Sources: Cyprus Mail (14.07.2026), Property Lawyer Cyprus (permanent residency from €300,000), rules of the Republic of Cyprus as of October 2026.
My Conclusion: Which Country Fits Your Goal
If what matters to you is
What I would choose
Citizenship for the family with your money returned
Turkey
Ownership and an inheritance for your children
Turkey or Dubai
Liquidity and a local buyer at exit
Turkey
Zero taxes and a short off-plan investment cycle
Dubai
EU residence and a passport not subject to sanctions
Cyprus
Life by the ocean with no aim to make money
Bali or Thailand, but better to rent
All at once: family, passport, income, location and security
Turkey
Each of these countries is wonderful in its own way, and I won't say you can't make money in Dubai or Thailand. But if you put all 8 criteria side by side, Turkey today is the only country that offers full ownership, inheritance protection, citizenship, a large base of local buyers and price growth in dollars all at once. That is exactly why I live and invest here myself. My apartment in Konyaaltı has gone up in value by 25% in two years and is rented out at a yield of around 8%, while my apartment in Istanbul's Maltepe district has grown by 15% in a year and a half and brings in around 7% a year.
FAQ
Which is better for investment: Turkey or Dubai?
Dubai's strengths are zero taxes and transparency, but its market relies on foreigners, and prices fell by 3.1% over the year. In Turkey, more than 98% of buyers are locals, prices are rising in dollars, and a purchase from $400,000 qualifies you for citizenship.
Which country grants citizenship for buying real estate?
Of the five countries in this article, only Turkey: from $400,000, with the right to sell the property after 3 years. Cyprus closed its program in 2020.
Can a foreigner own property in Bali?
No, only lease it or hold a right of use for a fixed term. Full ownership with inheritance rights, as in Turkey, does not exist there.
Can a citizen of a sanctioned country buy property in Cyprus?
Formally it is possible, but the bank review takes months and often ends in a rejection. I do not recommend schemes that go through companies in third countries.
Where is real estate liquidity higher?
Where it is bought by the local population. In Turkey, that is more than 98% of transactions, and according to UBS, the number of dollar millionaires is growing faster than anywhere else in the world.
How DDA Real Estate Turkey helps
I don't sell a Client a country, I help them choose. If Your goal is better served by another country, I will tell you so honestly. And if the choice falls on Turkey, the Company:
- selects properties based on 10 liquidity metrics, guided by demand from local buyers;
- handles citizenship and residence permit applications in a fully legal way;
- makes all payments only through a bank and only in Your name;
- operates offices in Istanbul and Antalya, so You can always visit in person.
About the Author
Sergei Dubinets - founder and CEO of DDA Real Estate Turkey, licensed broker, entrepreneur, investor and economist. He has lived and worked in Turkey since 2020 and has worked in real estate and real estate law since 2007. He invests in Turkish real estate himself and splits his time between two cities, Antalya and Istanbul. ddakey.com
Sources: TÜİK; Central Bank of the Republic of Turkey (KFE, September 2026); UBS Global Wealth Report 2025; Guinness World Records; ValuStrat; Dubai Land Department; Knight Frank; Global Property Guide; Cyprus Mail (14.07.2026); Property Lawyer Cyprus; Bali Property Rules; The Bali RealEstate Dispatch (09.10.2026); Nomad Lawyer (07.10.2026); Nation Thailand; DDA Real Estate Turkey monthly report for September 2026.
This article is for informational purposes only.
Get a free expert consultation