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- 2020-09-24 11:09 AM
- Economic News
Reasons to buy real estate in Turkey
Turkey is one of the countries that became famous in the field of real estate and real estate investment, where the attention of Arab and foreign investors and businessmen turned to it, in addition to the remarkable growth of residential and investment projects, in addition to the incentives and facilities provided by the Turkish government to investors where it gives them the right to obtain real estate residence and Turkish nationality under certain conditions and the real estate sector in Turkey is now one of the best investment destinations, especially for Arab investors in the recent period where they always try to take advantage of the A large advantage of buying a property in Turkey to achieve profits within the Turkish real estate market has witnessed the Turkish city of Antalya in the construction sector a broad growth came with the recovery of the real estate market and the entry of foreign investments strongly into the country and on the other hand to meet the need for more apartments, as antalya is considered one of the best Turkish cities for real estate investment and is an incubator for major construction projects in Turkey.
What are the advantages of buying a property in Turkey?
Obtaining Turkish citizenship
The Turkish government has amended the law granting Turkish citizenship to those who own real estate worth USD 250,000, which is an exceptional opportunity of great importance to many investors wishing to acquire Turkish citizenship.
Real estate accommodation
Buyers of real estate in Turkey of foreign nationality, valued at less than USD 250,000, are granted a residence that is renewed annually, and real estate accommodation in Turkey is granted to the landlord, his wife and children under the age of 18.
Infrastructure
The advanced infrastructure established by the Turkish government, which is constantly developing it, especially Istanbul and Turkey in general, is one of the most important features of buying a property in Turkey and one of the important projects launched by the Turkish government in recent times is the new Istanbul airport, the new Istanbul Canal and the new metro lines.
Proximity to these facilities is an investment advantage for property owners in Turkey, where the value of properties in these facilities has increased after the start of works on them in a huge way and the demand for real estate near these areas remains high due to the high investment return achieved by these areas.
Mortgage loans in Turkey
In recent times in Turkey, many banks have facilitated the acquisition of mortgage loans in Turkey for foreigners with international banking companies with banks of key investor countries, including Kuwait Turk, Deniz Bank and Garanti Bank.
If you meet the conditions set by these banks, you can obtain your property finance through a mortgage loan from a Turkish banking institution.
Investment return on real estate in Turkey
Real estate in Turkey is an investment project in itself and speaking of the figures regarding the profits of real estate investment in Turkey, they range roughly between 4 to 20% of the value of the property annually depending on the region and the nature of the investment and the type of property and these returns are calculated monthly and are calculated in the following proportions according to the location of the property: about 6% in Turkey in general and rise to 8% in important cities, but for the returns of real estate investment in Istanbul, the ratio reaches 12% of the price of the property of course we talk here's about the average annual return on profit which is
It can be increased and decreased according to many different factors such as:
The project is ready or under construction:
When investing in real estate you can resort to projects under construction, so first you get a property at a good price and low which is about 30% less than the price you will pay when the construction of the property is completed,
Signing up for a new project makes you feel privileged because you are the first owner of the house, you are the first person to enter the house.
In general, the profits from ready-made projects come faster and more regular, while the profits of real estate investment in the projects under construction come after a while until the completion of construction in the project, but higher and more secure.
The importance of tourism and work in Turkey
It is no secret to anyone the importance of tourism in Turkey and the high demand for it by many Arabs and foreigners, and this in turn increases the importance and advantages of real estate investment and the purchase of a tourist property is considered a profitable project, especially if it is in tourist areas.
Turkish government's interest in Turkey's real estate sector
The Turkish government offers many projects and renewable selections in the field of real estate investment and infrastructure development, such as the development of many integrated parks and recreational cities as well as new airport projects, which in turn enhances the importance of real estate and raises its prices.
Turkish Turquoise Card
The Turkish Turquoise Card system is a system aimed at attracting highly skilled foreigners with the right to work and live in Turkey indefinitely and many experts liken it to the green card system in America and was launched in the Official Gazette in March 2017.
This system is one of the most important advantages of buying a property in Turkey for housing, where the Turkish government will grant turquoise card holders the same rights as Turkish citizens, and the advantages of this card will appear more and more over time but it is undoubtedly a new feature for those wishing to invest and live in Turkey.
