Investing in Turkey is now the most widely debated topic and issue in daily business life. Turkey has a thriving economy, a healthy population, a professional and efficient labour force, a liberal and reformist investment environment, a centrally positioned infrastructure and a bridge from Europe to Asia. Plus an energy corridor and a European port, a low tax and reward customs union with the EU since 1996 and a broad domestic market. Can you make your money work for you when you invest in real estate in Turkey?
What advantages are there by buying a property in Turkey?
Foreigners buying property or land shall comply with the specifics of Turkish law that offers them the opportunity to purchase land with a limitation to begin construction and apply the proposal to the ministry within two years.
The value of capital is the essential advantage as foreign investors can buy large properties in Turkey according to the Turkish Lira’s currency rate. Compared to what this amount of money can buy in their country. The exchange rate is always high, giving you many Turkish Liras to purchase property in Turkey.
As a property owner, Turkish residency and citizenship, foreigners buying a property in Turkey can quickly get the residence permit. If they purchase a property with $250k according to the new rule, they can get citizenship.
Foreigners who purchase property in Turkey have full possession of the property or land (freehold ownership). It gives owners a lot more flexibility to sell, renovate, or even rent out their properties.
The cost of living in Turkey is also one of the advantages, as taxes are low relative to living costs and taxes in the EU and the USA.
How do you finance real estate for sale in Turkey?
Buying apartments in Turkey has never been so simple before; due to the high demand for buying apartments, most developers have offered multiple payment options to make it easier for local and foreign buyers to settle on the most acceptable payment option that suits their budget.
According to statistics, the number of mainly sold real estate properties in Turkey has increased year on year. As ex-pats, they tended to buy apartments with fees. Most of the properties sold are still under construction, but buyers preferred these projects because of the lower price than the ready to move in properties and payment plans that allow them to pay up to five years in installments.
Developers in Turkey, however, favoured modern architecture, luxury, and more building facilities. Some major residential projects that are almost ready to move allow buyers to pay as an additional facility for them.
Apartments for sale in Turkey currently also come with social amenities to give their residents luxurious lives, such as swimming pools, children’s playgrounds, and fitness centres.
Property buy-to-let in holiday resorts
For exampleAntalya, a newly established city in Turkey, has been the third-largest city visited annually by foreigners. Has significant variables for a high return on investment buy-to-let properties. As most locations where properties are leased for short or long-term rentals, holiday cities have been registered.
Antalya, a coastal city in southern Turkey with its mild climate, is sure to be visited by holiday makers to enjoy golden beaches such as Lara Beach and Konyaalti Beach. This atmosphere is ideal for an unforgettable holiday in the warm city, especially for tourists from cold countries, which offers an excellent opportunity to invest in your property by renting it out for tourists.
There are places of interest to explore and enjoy your time in Antalya, going out and visiting historical sites, waterfalls and bazaars. In the Land of Legends Park, you will enjoy your time with your family and play in the Luna Park and the huge waterpark in the area. Buying a property in a holiday destination will give you a fun life close to the beach and convenient access from the city’s international airport to most countries around the world. The rewards of becoming a Turkish citizen after applying for Turkish citizenship brings many benefits. Buying a property in Turkey will allow you to enjoy incredible sea views and abundant sunshine whenever you want to!