Investing in Turkish real estate for sale in 2021 has several advantages. In addition to owning a magnificent residence in the Turkish metropolis of Istanbul, for example, investors who invest more than 250,000 USD in real estate can obtain highly regarded Turkish citizenship. In recent years, international purchasers have significantly increased the real estate market, and analysts predict this trend will continue for many years.
It’s also worth noting that foreigners don’t need a residency status to buy a property in Turkey, making the procedure easier for them. By choosing an established and reputable real estate firm in Turkey, international buyers can own a lovely house in Turkey that can serve as a second home, an investment for the future, or a guaranteed rental income source.
Why should you invest in Turkey’s real estate market?
Turkey has had extraordinary socioeconomic growth despite numerous hurdles and comparisons to other countries. Whether it was the global recession of 2008 or political unrest throughout its history, the government has always been successful in strategizing particular strategies to emerge victoriously.
Is the Turkish economy in a good place?
Turkey, with its vast economy, is ranked 19th among the world’s major economies. From industry to services, the country has demonstrated a well-balanced mix of contributions that fuel its economy. The Turkish government has adopted various changes to help the needy sections since 2000. These actions boosted the unemployment rate as well as the economy.
The period between 2002 and 2015 is critical in Turkey’s economy. During this period, the poverty rate nearly fell to zero. The administration has opened its doors to international trade and financing. It has also modernized its economic laws and made every effort to integrate into the European economy.
Turkey’s economy and investment statistics
Turkey has been affected by the COVID issue the same as the rest of the world. The tourism industry, which is one of the vital contributors to the economy, was severely impacted. Turkey’s GDP is expected to fall by 3.5 percent this year. Turkey’s GDP, on the other hand, might recover to 6% by 2021.
It is a factor that gives promise when evaluating Turkey as a worldwide investment location. Turkey has several significant advantages when viewed through the lens of investment. Turkey has a population of 82 million people and a life expectancy of 77.2 years as of the first half of 2020. Because the country has a significant youth population, skilled labour is readily available.
What are the incentives in Turkey for international investors?
Turkey also attracts foreign investors due to the majority of the advantages it offers. The incentives available to investors vary depending on the type of investment and the project. The purchase of VAT-free and Customs duty-free equipment is one of the benefits, which applies to all investments, regardless of the investment sector.
Are there any investment incentives in the region?
When investing in underdeveloped areas, investors will be rewarded handsomely. These include property tax exemptions, income tax withholding, favourable interest rates, and land allocation for projects, VAT refund, and customs duty exemption, among other incentives.
Are there any project-specific incentives?
Turkey’s government provides project-based incentives to encourage investment in specific areas in need of a boost. Energy assistance, infrastructure incentives, purchase guarantees, property tax exemption, and social security assistance are just a few of the many benefits available under this program.
Why should I invest in real estate in Turkey?
Following the COVID crisis, the entire world outlook transformed. Countries and investors are now searching for more diverse investment options to lessen their dependency on China. Turkey may be the best option for real estate investment, given its economic prospects and its advantages.