Wondering if it's a good time to invest in Turkish property? Our blog post takes a closer look at the real estate market in Turkey and whether or not now is the right time to buy.
The Turkish real estate sector is critical to the country's economic prosperity. The government is likewise concerned about the growth of this market. Over the last decade, the real estate and construction industries have contributed around 8.4% of GDP. Foreign citizens account for about half of all investors. For many years, foreigners have been actively purchasing Turkish real estate. The amount of transactions conducted by foreign nationals has increased by about 25,000 in the last three years.
One of the reasons for such great interest is that investing in local housing is both simple and profitable. The following are the primary benefits of investing in Turkish properties: • No VAT when purchasing real estate; • Sales tax is just 4%; • Long-term residency permit; • Simplified method for obtaining citizenship when purchasing a property worth at least $400,000. Of course, there are several other factors, such as a lovely climate, active social and economic development, a high living standard, an affordable cost of living, and comparatively reasonable property prices. Considering all of the aforementioned criteria, we can confidently state that it is well worth investing in Turkish real estate.
WHY INVEST IN REAL ESTATE IN TURKEY? The primary purpose of every investment is to generate income while preserving capital. Investing in Turkish real estate is no different. This country provides a diverse range of investment opportunities and guarantees foreign investors a welcoming property investment policy as well as legal clarity in all transactions. The Foreign Direct Investment Law creates a favourable investment atmosphere. Statistics can confirm the efficiency of all efforts adopted to develop investment potential. The country's economy received 12 times more capital from foreign investors in the last 15 years (from 2003 to 2018) than in the previous 30 years (the period from 1973 to 2002). This data plainly demonstrates that the Turkish authorities' actions are effective.
WHAT REAL ESTATE IN TURKEY IS BETTER TO INVEST IN? As per the experts' opinions, Turkey is one of the most appealing countries for investment. Property location and characteristics are the most essential investment factors. Experts recommend considering: Istanbul, Izmir, Antalya, Kemer, and Belek as possible locations. A common rental option is a fully equipped 1+1 apartment near the beach in a well-developed neighbourhood. By purchasing such property, you are making a terrific deal that will result in a bigger profit.
WHAT REAL ESTATE IS PROFITABLE TO INVEST IN? Here are some tips on how to select a property: • Select a verified and reliable partner. Property possibilities are available from leading Turkish real estate agencies and corporations, as well as verified private sellers and developers. • Choose an investment property in a major city or a renowned tourist destination. Your home will always be in high demand. • Determine your goals and then select options that precisely match them. Consider properties for a short-term lease if you want to rent out an apartment and receive income right away. Choose projects that are under construction if resale is your goal. The choice of property is the key point in investment! With our website, you can be sure that you are choosing the right option.
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