|Wednesday, September 14, 2022
If you are interested in the Turkish real estate market, you will notice that year after year there is a .
If you are interested in the Turkish real estate market, you will notice that year after year, there is a significant and noticeable increase in the volume of Turkish real estate sales, but what are the valid reasons for this? In this article, the editorial team at FCC will put in your hands a comprehensive report on the most important information that interests you about the rise in real estate sales in Turkey.
Recently, real estate sales in Turkey have increased dramatically, as Arabs and foreigners flock to buy them from different countries of the world.
One of the reasons for the increase in real estate sales in Turkey is the desire to obtain Turkish citizenship, as foreigners must buy real estate worth at least 400,000$.
The process takes about six months and there are no residency requirements.
Turks who have obtained citizenship through investment also enjoy free access to education and healthcare, as well as visa-free travel to more than 100 countries.
If you look at the statistics, you will find that more than 40% of those who want to own property in Turkey had their nationality purpose.
The rise in real estate prices in Turkey has led many investors to buy properties in the country. One of the reasons for this is that real estate prices in Turkey are much lower than in other countries. Another reason for the increase in sales is that the Turkish government offers incentives to foreigners to buy real estate in Turkey. These incentives include tax credits and residence permits.
For foreign buyers, the Turkish lira has lost about 30% of its value against the US dollar since early 2018. According to the Turkish Statistical Institute, in the first nine months of 2019, foreigners bought about 50,000 properties in Turkey, which is a significant increase from the same period last year.
The most popular cities among foreign buyers are Istanbul, Ankara, Bursa, Yalova and Antalya. Istanbul alone accounted for nearly 40% of the total sales to foreigners.
The Turkish lira has been in a period of decline against the major currencies since the early 2000s. This consumption has made Turkish real estate relatively affordable for foreign investors. Additionally, the Turkish government has implemented a series of reforms to make the country more attractive to foreign investment.
One of the reasons for this increase is Turkey's social diversity. It is a country with a large population diversity. There are people from all over the world who have made Turkey their home, and this diversity is reflected in the real estate market, as there is a growing demand for properties that cater to different lifestyles and budgets.
This has led to an increase in the number of real estate projects that offer a wide range of options, from luxury apartments to affordable homes.
One of the main reasons that led to the increase in real estate sales in Turkey is the possibility of buying in more than one way, the most important of which are:
The real estate installment system in Turkey is one of the best and most important investment systems that encourage foreign buyers to own real estate in Turkey, as this system includes property ownership and protects the buyer's money.
Among the advantages of buying a property in Turkey in installments:
First: You can own a property in Turkey easily and without any difficulties. All you need is a passport -for foreigners- and a residence permit, which gives you the right to own your property like any other property of a Turkish citizen.
Second: You can get a real estate loan from any Turkish bank to buy your property in installments.
Third: The possibility of selling or renting your property at any time you want, as there are no restrictions on that.
Fourth: The installment period for buying a property in Turkey extends to 7 years, which gives you enough time to pay off your debts without any stress.
Fifth: There are many options for real estate that you can buy, whether apartments, villas, or land, to suit all budgets.
2- Under construction Real estate in Turkey:
Construction in Turkey is growing rapidly, with many new projects emerging in Istanbul and other major cities. Real estate under construction in Turkey can be a great investment for those looking to buy property in the country.
There are some advantages to buying a property that is still under construction, the most important of which are:
First, you may be able to get a discount on the purchase price.
Second, you can often choose the finishes and fixtures for your property, and customize them to your liking.
Third, you can take advantage of the generous tax incentives of the Turkish government for new home buyers.
Who will buy real estate in Turkey that is still under construction?
Investors looking for a unique opportunity and buyers who want to customize their homes will be the most likely candidates.
3- Ready real estate in Turkey:
There are many advantages to buying a ready-to-move-in house in Turkey, the most important of which are:
- The main advantage is that you do not have to wait for your house to be completed. This can save you a lot of time and money.
-Another advantage of buying a ready-to-move-in home is that you can be assured of the build quality while when you buy off-plan property, you somewhat risk getting lower quality as a result of the building company tampering with specifications. This is unlikely to happen in a ready-to-move-in home.
-Ready houses in Turkey are also a great option for investors who want to rent out their property. These properties are more attractive to tenants than unfinished properties. Since it is already built, the risk involved for the investor is lower.
Follow our website constantly to see the latest developments in the real estate market in Turkey and the most important topics that interest you about it.
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