Property in Turkey
The Turkish real estate market is gaining more and more popularity. 2022 has already set a couple of sales records. But what makes people want to purchase investment real estate in Turkey? Let’s have a look at some of the advantages that it may offer.
Real estate market in Turkey
The dynamics of property prices in Turkey indicates a constant increase in the cost per square meter. There are no objective grounds for reducing or at least temporarily freezing price growth. The main factors of appreciation: demand, inflation, increase in the cost of construction work and materials.
Many foreigners understand that the Turkish real estate sector today is one of the most reliable investment instruments and a real opportunity to save and increase their capital. In addition, it is a legal right to have a “reserve harbor” for a comfortable stay with the whole family in a sunny, friendly country.
Raising the threshold to USD 400,000 for applying for Turkish citizenship for real estate and closing some areas to foreigners for only a short time after the laws went into effect dampened investors’ enthusiasm. However, since mid-July, sales have intensified. Today, there is every reason to believe that the same positive dynamics will continue in the second half of the year. Therefore, if you are planning to buy a home in Turkey, we recommend that you address this issue now.
What investors get by buying property in Turkey
Buying property in Turkey guarantees investors from abroad a number of advantages:
- Citizenship by investment for the whole family. Each foreign buyer has the opportunity to participate in the state investment citizenship program. To do this, you need to buy real estate at a price of USD 400,000 and apply for a second passport through an accelerated procedure. In addition to the investor, his closest relatives (husband / wife, children under 18) can also apply for citizenship. Turkish citizenship guarantees the opportunity to live, study, work in a developed country and enjoy all social privileges.
- Resident card. Depending on the cost of housing, foreign buyers are eligible for a tourist residence permit or a TAPU residence permit. In both cases, this guarantees investors the arrival and legal residence on the territory of the resort country at any time.
- Passive additional income from the rental of real estate. The Republic of Turkey is a popular tourist destination, as evidenced by the annual increase in those wishing to visit this beautiful country. Increasingly, vacationers prefer to rent apartments before buying a tour with accommodation in a hotel. With a competent approach to choosing a property, the owners of liquid apartments will be able to receive about 5-15% per annum from renting out.
- Resale benefit. The annual statistics of real estate prices in Turkey confirms the permanent growth in the value of housing. Over the past six months alone, the price tag for real estate has almost doubled. The purchase of liquid apartments at the construction stage guarantees investors a resale profit of about 20-30% after the house is put into operation.
- Relatively low cost of living. Utilities, taxes, food, clothes, services are much cheaper than in most European countries. Living in Turkey, you are guaranteed to receive high quality goods and services at a bargain price.
- Strategically advantageous position and favorable climate. The Republic of Turkey is one of the few powers located simultaneously on the European and Asian continents, which provides a developed transport infrastructure and economic growth. On the other hand, Turkey is an azure sea, good ecology, wide beaches and picturesque resort towns, where it is very comfortable to live.
Investors discover many opportunities after buying property in Turkey. If you are planning to buy a home abroad for a vacation, permanent residence or profitable investment, the eastern state is the ideal place to realize all your goals.
Real estate in Turkey
Buying, selling, renting and exchanging real estate are important decisions that require a competent and responsible approach. The team of the Turk.Estate website understands this very well. Offering their clients a wide range of services in the real estate market, they confidently take responsibility for their actions and guarantee a result that you will be satisfied with.