There are a range of advantages that real estate buyers get in Turkey, and this is the main reason that made it the common destination among many investors, businessmen and capital owners.
Through the following article, you can see fully the dimensions of buying real estate in Turkey. We wish you an enjoyable reading, through which we will answer your various questions.
The most prominent advantages of buying real estate in Turkey:
Here are the most important positive repercussions that will be yours when buying a property in Turkey:
First: Obtaining real estate residency:
One of the main motives that encourage foreigners to buy real estate in Turkey and not in other countries of the world is that it is easy to obtain real estate residency through this step, but what are the conditions that must be met by the property in order for it to be suitable for applying for residency?
There are several conditions which are:
-The property must be suitable for housing, i.e. if it is a commercial property, it will not be suitable for applying for residency.
-It must be worth at least 75,000$.
-It should not be located within a security or military zone where foreigners are prohibited from buying real estate.
-The buyer must not hold one of the nationalities that are prohibited from buying real estate in Turkey.
Therefore, the real estate residency provides its holder with many privileges and rights that usually belong to Turkish citizens.
Second: Applying for Turkish citizenship:
One of the most important reasons that encourage the purchase of real estate in Turkey is the great desire to obtain Turkish citizenship, but the question arises, is any property suitable for obtaining it? Certainly not, as there are many specifications that the property must have, namely:
-Its value shall not be less than 400 thousand US dollars.
-The property must not be sold before the lapse of three years.
-The property must not have been previously used in the application for citizenship.
-The property must be purchased from a Turkish seller, whether it is an individual or a company.
-The value of the property must be paid through a bank in Turkey.
-Extracting the real estate appraisal document that controls real estate prices.
After obtaining Turkish citizenship, it is possible to apply directly in order to obtain a Turkish passport and get many of the privileges and rights of Turkish citizens, and the possibility of obtaining them through real estate investment is one of the many facilities provided to them.
Third: Suitable real estate prices:
Certainly, one of the first questions that you have regarding the real estate sector in Turkey is the prices. Are they high or low, and are they suitable for those who do not have high financial balances, or are they the preserve of those with high budgets?
In this regard, we must point out a very important thing, which is that the American newspaper “The Times” reported on real estate prices in Turkey that they are 50% to 60% cheaper than prices in Eastern Europe, which are cheaper than prices in Western Europe. Ranging between 80% and 90%, and this, if indicated, indicates that the opportunity is available for the world’s investors to start their profitable investment project with capital, even if it is small, as it is important information that this type of investment does not have to have a high budget.
Fourth: The profitable investment future:
Most of those who buy real estate in Turkey aim for real estate investment and a desire to obtain a lot of profits. All the indicators in our hands lead us to the idea that this is a completely successful step through which we can obtain a lot of profits and annual and monthly returns.
One of the most important factors that encourage real estate investment in Turkey is the reviving Turkish economy, which is considered one of the most important economies in the world without a doubt, and this is what many reports issued by the most important European countries have stated, in addition to expectations that by 2030 it will be in the fifth place in the world ahead of many of the world's economies thanks to the young structure that Turkey enjoys in addition to the strategic plans developed by the Turkish government.
Add to your information the political stability in light of the fluctuations experienced by many Arab or European countries and that according to expectations and analysts, real estate prices will record a lot in the coming period, and the percentage may reach 60%, and this is an important indication of the amount of profits that can be obtained.
One of the most encouraging things to invest in real estate in Turkey is that this country has a touristic nature, which was an important incentive for the success of this type of investment, as it is possible to obtain a double profit during those seasons.
Fifth: Government facilities:
The Turkish government spares no effort in providing a lot of facilities that encourage the purchase of real estate in Turkey, and the most important thing it has provided is tax cuts and exemption from value added tax for a foreigner who buys his property in Turkey for the first time.
In this context, it is important to quickly point out the methods of real estate investment in Turkey:
-The first: leasing the property and obtaining a distinguished monthly return.
-Second: Selling the property after a period of time and when its price has risen.
-Third: buying old real estate that needs maintenance and work and restoring it, and then reselling it or renting it out.
These were the most important reasons that encourage the purchase of real estate in Turkey. If you have more inquiries, we advise you to contact us to provide you with the assistance you need and answer your various questions.