Real estate in Turkey 2020
In the recemt years, the interest of Arab investors to move towards Turkey with the aim of investment or stability has increased , along with the increased interest in real estate investment in Turkey , and the availability of distinctive real estate projects . This coincided with a facilitations provided by the Turkish government to foreigners constantly , to encourage real estate investment , including amending certain laws and opening the door to many nationalities for direct ownership .
And due to the remarkable growth witnessed by the real estate sector in Istanbul and in Turkey in general , and especially after the issuance of the law of foreigners ownership in Turkey No. 6302 on 03 /05 /2012 , Turkey has become a major destination for Arab and foreign investors and businessmen , and the city of Istanbul has become one of the most prominent cities in Turkey , which is increasingly popular in the field of real estate purchase , followed by a number of other cities such as Antalya , Bursa and Yalova .
Special real estate offers in Istanbul
RH 163 - One of the best projects in Maslak , ready for housing with a view of Belgrade Forest
Apartments for sale in Istanbul in a huge project like a full-service city , which includes a shopping center , 5-star hotel and integrated social facilities .
The project provides an ideal choice for housing and investment . The project was built in three phases : the units of the first residential phase have been completed and fully sold , the second phase includes shops and a shopping center , while the third and final phase is a mixture of residential and commercial apartments .
The project is located on the European side of Istanbul , specifically in Maslak , one of the largest real estate development areas in the city .
Maslak is one of the main central districts of Istanbul and it is one of the fast-growing areas of the city .
Maslak area is close to transportation links that will take you to all parts of the city in a few moments , and you can easily access the main areas and sights of the city .
Maslak is the ideal area for investment in Istanbul , where it promises high profits and high returns on investment in a few years .
The project is located only minutes away from Taksim and Levent , not more than 5 minutes from Bosphorus , and 25 minutes from Istanbul's third airport , which gives it strategic and investment importance .
The project is located near the metro station and public transport .
The project is located in the Cendery Valley , among the regions of Istanbul that have gained the highest value .
The project is located next to Maslak and Levent , which provides a pleasant life with transportation opportunities .
The project attracts attention through its location close to shopping centers , arts , health facilities , transportation and education centers .
All the project details in this link : RH 163
We have to talk about the Turkish real estate market in 2019 before we start talking about the forecasts for 2020 .
The real estate sector in Turkey between 2011 and 2018 achieved nearly $ 29 billion in income , as the number of investors who owned real estate in Turkey reached 22 thousand and 830 foreign investors in 2015 , and the number of foreign investors who invested in Turkish real estate reached 18 thousand And 189 investors in 2016 .
They numbered 22.234 foreign investors in 2017 , which is considered a return to the activity of the real estate investment sector in Turkey , after a recession in this sector coinciding with the political conditions in Turkey during the coup attempt .
After this return , the real estate sector witnessed a steady increase in foreign ownership of real estate in Turkey , as the number of foreign investors in the real estate sector reached 39 thousand and 663 foreign investors in 2018 .
And the real estate investment sector in Turkey has continued to progress this year 2019 , as the number of apartments sold to foreign investors reached 31 thousand and 925 apartments , in the first 9 months of this year 2019 .
As for the sales of the third quarter of the current year 2019 , it was mentioned in the real estate sector indicators report that the real estate sales of foreigners Turkey reached 31 thousand and 925 apartments in the third quarter of the year 2019 , achieving an increase of 32.2% over the same period of last year 2018 .
This came in line with the facilities and incentives provided by the Turkish government to foreign investors who want to buy a property in Turkey , where they can obtain Turkish citizenship when purchasing a property worth 250.000 $ .
The recovery in the Turkish real estate market in 2019 is due to several reasons , the most important of which are :
- New laws that contributed to attracting investors who want to obtain a Turkish passport .
- The suitable investment environment in Turkey in terms of strategic location and applicable laws .
- Efforts of real estate marketing companies in Turkey that helped bridge the gap between the seller and the buyer .
- The depreciation of the Turkish lira against foreign currencies .
- The suitable prices of Turkish real estate compared to others in the world and in Europe in particular .
- The appropriate social environment , which made Turkey a suitable choice for many foreigners for housing and living .
- The success of real estate investment in Turkey over the past years .
Special real estate offers in Istanbul
RH 204 - luxurious apartment with direct view on Marmara Sea in Bakirkoy
The project was built with the supervision of Turkish state construction companies , with government guarantee .
It is a residential , investment and commercial project built on a land area of 74.000 square meters , 80% of this area has been allocated to green areas , parks and public facilities within the project .
The project consists of 5 blocks with 512 residential units ranging from 1+1 , 2+1 , 3+1 , 5+1 , 4+2 and 6+2 duplexes , ranging in size from 66 to 430 square meters .
90% of the housing units and offices in the project are overlooking the Sea of Marmara .
The project is supported by a system of earthquake and seismic protection , where the foundations were excavated to a depth of 20 meters and the use of reinforced concrete and moisture-resistant sea .
At the bottom of the project are warehouses where a storage unit is allocated for each housing unit .
In this project , you do not have to worry about the transportation , as different transportation options are available .
In this project , you will be in the heart of Istanbul and away from the chaos .
What is more beautiful than dreaming , is to live your dream reality , Atakoy area today contains housing projects that was originally a dream .
Atakoy area has a central location , high investment value and luxury life style .
The project is located in one of the most central districts of Istanbul , in Atakoy district of Bakirkoy area .
The project is located near the main road and highways in Istanbul (E5) .
The distinctive location of the project , overlooking the Sea of Marmara , which offers homes with charming sea views .
All the project details in this link : RH 204
The success of the Turkish real estate market is expected to continue in 2020 , as the Turkey 2020 real estate market is expected to open up to huge Asian markets such as China . Chinese investment in Turkey's real estate market is expected to increase over the next year as an extension for 2019 .
The Iranians have also strongly attended the Turkish real estate market during 2019 , and the number of Iranian investors is expected to increase in 2020 .
And with the economic stability currently witnessed by Turkey and the rapid growth rates and positive estimates , more Arab and foreign investors will turn to it to establish business and even reside there .
This will also contribute to raising the rates of real estate investment in Turkey , reducing interest rates, as this will increase the value of local investments in the Turkish real estate market .
Istanbul still comes in the first place in terms of the number of properties sold to foreigners in it , and Istanbul , with its strategic location and appropriate climate , represents a starting point for many international projects .
And with the continued construction of huge infrastructure projects in it , it is expected that it will remain at the forefront of the Turkish cities that many foreigners intend to own in either for the purpose of housing or investment , or both.
And the city of Antalya comes in the second place after Istanbul in terms of the numbers of real estate sold to foreigners , and it was noticed that the percentage of real estate sales increased by 19% until the month of September 2019 , and many foreign investors choose this city for its beauty and for the low real estate prices in it compared to Istanbul , and It is expected that the percentage of sales will increase in 2020 to contribute more to Turkey 2020 real estate market .
What are the advantages of buying a property in Turkey ?
- Low tax in Turkey , the decision to reduce taxes in Turkey is one of a series of decisions concerning the real estate sector in Turkey , and was reflected positively in stimulating foreign investors to own property in Turkey , which contributed to the revival of the real estate market in Turkey in general . The most important tax deductions are : Exempting the foreign buyer from the value added tax due on the property .
- Obtaining a residence permit , where foreigners who own properties in Turkey , whose price is less than $ 250.000 , are granted a residence permit that is renewed annually . Real estate residence permit in Turkey is granted to the landlord , his wife , and his children under the age of 18 .
- Real estate in Turkey is the cheapest real estate investment in Europe , where real estate prices in Turkey are considerably cheaper than those in Europe , with similar features in infrastructure , and similar in structure of developed European countries .
- Real estate investment in Turkey provides a profitable investment return , based on the economic activity and rapid urban development , and the strength of tourism in Turkey , which is best reflected in the periods and tourist seasons , through the demand for rental homes during those seasons distributed throughout year .
What are the steps to buy property in Turkey ?
First , you must choose the safe property that meets your request and needs and corresponds to the budget allocated for the purchase , through :
- Ensure that the real estate developer in Turkey is a well-known company that has implemented a number of different projects previously .
- Study the location of the project , whether it is for investment or residential , and know the services available in it and its proximity to services and public transport .
- Study the views of the project , whether it is internal to the green areas in the project and the swimming pools , or external views of the city or the sea or forest or others .
- Compare the prices of the project with the prices of the existing projects in the area , and find out the reasons for the price difference in case of a clear difference .
- Ensure the quality of the materials used in the finishing and cladding , which are written in the contract for the selected project , and that they conform to the typical apartment in the project .
Second : Knowing all the costs and expenses necessary to buy a property in Turkey :
- The purchase of real estate in residential projects in Istanbul and in Turkey in general , which includes various services and facilities , such as swimming pools , clubs , gyms , security system and outdoor gardens , entails a monthly payment called Aidat , which is calculated according to the area of the property ( on average between 2 TL to 4 TL per square meter ) , this amount varies from one project to another depending on the existing services and the level available for each project .
- Annual taxes for the property , which are calculated depending on the area and the municipality to which the project belongs , whether in Istanbul or in other cities , so that it is estimated annually between 0.003 to 0.006 of the annual evaluation of your home provided by the municipality .
- Tapu fees or title deed , the cost of the title deed starting from the new year 2020 at a value of 4 % , will pay both the buyer and the seller 2 % , while it is until the end of 2019 at a value of 3 % , and therefore pay both seller and buyer only 1.5 %
Third : After you have a complete idea of the project and its features and the costs to buy the property , it is necessary to follow the routine steps to complete the procedures of ownership of the property in Turkey , which are as follows :
- Get your vergi numrasi or tax number from Tax Department in Istanbul or the city where you purchased the property . This number is given to every foreigner in Turkey , to facilitate all legal matters and transactions , and can be obtained through the passport .
- Open a bank account in one of the Turkish banks , to transfer funds from the country of residence to the account in the Turkish bank .
- Upon signing the purchase contract between the buyer and the landlord , the following documents are required :
- A certified copy of the buyer's passport and a recent personal photo .
- Obtaining a security approval , and obtaining security approval is required for all foreigners at the first purchase of the property .
- Ensure the complete documents of the project construcion company , such as : the license to establish the company and its record in the Chamber of Commerce .
- A copy of the property ( title deed ) in case the property is ready for delivery , to be transferred from the name of the construction company to the name of the buyer immediately after the payment of the agreed payments , and is extracted deed or title deed by the Land Registry Office within the area where the project .
- Notarization of the contract in the case of the purchase of real estate within the project under construction at the