Real estate investment opportunities in Turkey
Perhaps one of the most important factors that make people think about real estate investment in Turkey is that Turkey forms a bridge between Asia and Europe, and recently witnessed an unexpected improvement in the field of real estate in Turkey, in contrast to real estate investment in Europe and the United States of America, which noted a decline remarkable.
What are the real estate investment opportunities in Turkey?
Investment in commercial real estate
It is investing in types of property that are not intended for housing, such as commercial offices and shops.
Where it is possible to invest in buying offices and shops, and renting them or opening special projects in them, it is mentioned that tourist offices and Arab restaurants are among the leading projects in Turkey, from which investors reap a lot of profits.
Investment in residential real estate
It is to invest in real estate used for residential purposes only, but the following must be taken into account
- You must choose a location close to the archaeological or tourist attractions
- Or in the middle of shopping centers
- Or near transportation lines
- The apartment can also be furnished with good furniture, bring all the household necessities, and rent it furnished, and its monthly return will be much greater.
- It is also possible to exploit vital areas, such as buying apartments in Istanbul near universities, and this ensures the presence of foreign students who are renting the apartment and benefit from the permanence of rent and the large number of demand,
- Also, advertising marketing plays an important role in obtaining better options.
Investing in apartments under construction
It is possible to buy an apartment under construction in an area that witnesses modern infrastructure equipment such as building metro stations or universities, in this case you can get the property at a lower price than its price when it is ready.
- You can buy in installments, and with convenient payments for you.
- The selling price of the apartment after it is ready is 30-40% more than the price under construction.
- You can get attractive real estate purchase offers, such as buying the first apartments in Turkey within modern projects, where the first sales are usually lower in price.
- Or get a low price if you pay a high down payment, or other encouragements provided by construction companies in Turkey.
Why is investing in real estate considered one of the best types of investment in Turkey?
- Because real estate investment is greatly affected by the state's economy and political stability, and Turkey is the first and best candidate for real estate investment in the region.
- Real estate is the largest growing and profitable sector in the world.
- Investing in real estate achieves guaranteed results, and is far from adventures.
What are the advantages of real estate investment in Turkey?
- Permanently high prices for apartments in Turkey due to continuous foreign demand.
- According to the Knight Frank International Index, Turkey is among the largest global markets in the growth of real estate prices.
- According to Ernst & Young. Turkey is in the second place among the most attractive markets.
- Several other indicators nominate Turkey's real estate markets to provide the best achievements in the coming years.
- The scarcity of real estate of all kinds compared to the demand in the markets.
What are the conditions for real estate investment in Turkey?
The conditions for real estate investment in Turkey are summarized in the following points:
- There are no harsh conditions for investors, only that Turkey does not allow investment in areas close to security and military places, where the investor needs security approval before buying any property to ensure that it does not violate the condition of staying away from military areas.
- There was a law in Turkey that did not allow investment and ownership except for citizens of countries in which Turks could also own and invest, and this was known as the “principle of reciprocity”, but Turkey, 6 years ago, abolished the work of this law, and this provided investment opportunities for many foreigners. It was a quantum leap in this field.
- The Turkish government has also canceled the value-added tax on foreign investors and expatriate Turks, provided that they pay the value of the property in foreign currency (US dollars or euros) through Turkish banks, and this saves the investor from paying a tax whose value often reaches 18% of the value of the property.
- It is also mentioned that all the conditions that apply to the foreign investor are similar to those that the Turkish investor is subject to, and there are no conditions for foreign investors, except for the translation of official documents or the escort of a translator for the Turkish language, which are symbolic and negligible costs.
Investing in Turkish real estate is a broad and multi-branched profit gate, but it remains for FCC Real Estate to remind you that real estate investments must be long-term in order to achieve the required returns, so the investor in Turkish real estate must be patient and have long-term plans to invest his money that he will save on Real estate form in Turkey.
Some precautions before starting real estate investment in Turkey:
- You must check well the eligibility of the seller or the person responsible for selling the property, in terms of having the right to carry out the sale process, before starting any procedures.
- Ensure that there is no other owner or buyer of the property.
- You must also check well that the real estate you intend to invest in is free from the rights resulting from the mortgage, rent or any other rights.
- You must visit the property’s website to ensure its validity and suitability for use, whether in housing, work, or the private purpose of purchasing it.
- Obtaining a copy of the property ownership contract to ensure that the previous owner did not carry out any form of transfer of ownership, as well as to ensure that there are no rights arising from it.
- Ensure that the area, specifications and information contained in the title deed match the shape of the property on the ground.
REAL ESTATE INVESTMENT IN TURKEY
ISTANBUL REAL ESTATE 2020 - 2021
ISTANBUL REAL ESTATE 2020 - 2021
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