What are the advantages of real estate investment in Turkey
Table of Contents
What are the advantages of real estate investment in Turkey
The continuous growth of real estate investment in Turkey has made it a target for investors from all over the world, especially in recent years in which Turkey has witnessed great growth in many cities in this field, and this has encouraged many new investors, in the mean while the demand is increasing on real estate in Turkey due to the increasing demand from tourists annually. Hence, in this article we will talk together about the advantages of real estate investment in Turkey.
Why real estate investment in Turkey? Turkey has always been an important center that attracts investors, whether Arabs or other foreign nationals, and this is due to the availability of a large and distinguished group of investment opportunities, especially in the field of real estate investment, which has witnessed a remarkable turnout over the past years in light of the great growth it is witnessing, in addition to the continuous government facilities that have always contributed to the increase in the real estate investment in Turkey.
This is in addition to the large investment returns that can be obtained when investing in real estate in Turkey, where real estate prices are immensely soaring year by year, especially with the unstable value of the Turkish lira compared to the dollar, which leads to more profits continuously, and this point is one of the advantages of real estate investment in Turkey.
Advantages of real estate investment in Turkey
There are many advantages of real estate investment in Turkey that can be talked about, which was a major reason to attract many investors to the real estate market in Turkey, and the following are the most prominent of these advantages:
• Investment returns: Since Turkey is one of the countries that attracts millions of tourists throughout the year and real estate investment always achieves lucrative investment returns, as real estate is in great demand, especially during the tourism seasons, which means an encouraging return on investment for investors, in addition to the increase of the value of the real estate is high as the percentage of profits can reach 12% of the value of the property annually, whether through rental or resale.
• Turkish citizenship: Turkey provides the possibility to obtain Turkish citizenship by purchasing a property worth $400,000 or more, which has always been an important incentive for investors from all over the world, and the Turkish government provides many facilities for obtaining citizenship from investment in a short period of time. It only takes ninety days after completing the purchase, and the opportunity to obtain citizenship has always been considered one of the most important advantages of real estate investment in Turkey.
• Government support: Government support is one of the most noticeable advantages of real estate investment in Turkey, as the Turkish government pays a great attention to the real estate field in particular, by launching more real estate projects and providing facilities that boost the growth of the real estate sector, and among these facilities; Providing the possibility of paying real estate prices in installments over long periods of time.
• Real estate prices: real estate prices in Turkey are cheap compared to real estate prices in other countries, especially neighboring European countries. As when Turkey has a solid infrastructure that is as strong as the infrastructure of the developed European countries. Besides, real estate prices suit different budgets.
• Distinguished Opportunities: The real estate market in Turkey is characterized by offering many and varied options, which has caused the strength of this field and the increase in the number of investors, especially in light of the expansion of Turkey's area, the difference in weather from one region to another, and the availability of many natural places that encourage many to Invest and reside in Turkey.
Is real estate investment in Turkey profitable?
Despite the unstability of the Turkish lira from one period to another, real estate investment is still in great demand, and this is due to many reasons that have led to an increase of the value of real estate, which are as follows:
• The effect of inflation, which continuously raises real estate prices.
• Being affected by the increasing demand for real estate due to the increasing number of tourists and the continuous growth of the real estate market.
• Continuous improvements in the infrastructure of Turkish cities, and this is one of the advantages of real estate investment in Turkey.
• Cash flows that are constantly on rise in real estate.
• Improvements made to real estate, such as renovations and decorations.
How to buy a property in Turkey?
There are a set of steps that it is important to follow when having the desire to buy a property in Turkey, and identifying these steps help to overcome many difficulties and troubles that many investors can have. Here are these steps:
Determining goals: The decision to buy a property in light of the many advantages of real estate investment in Turkey. First of all, we need to determine the desired goals to be achieved from this ownership, and this is done by determining the purpose of the purchase, and calculating the financial value allocated to the investment, in addition to reviewing the appropriate geographical location for the desired goal, and to identify the specifications of the property.
• Choosing a real estate agent: A reliable real estate agent must be chosen when there is a desire to buy a property in Turkey, and the selection of the agent must be based on the quality of services he provides, and his reputation in the market, at a time when it is important to communicate with some former clients to ask them about the quality of services provided by this agent, with a review of his website and online platforms.
• Visit Turkey: Visiting Turkey before proceeding with the purchase is very important, and its importance is due to ensuring the quality of the property and getting to know the real estate broker closely, as this helps to find the right property.
• Real estate tours: It is important for the investor to get acquainted with a group of real estate projects available on the ground, in order to be sure of the specifications and pictures displayed online about the property. Right Home is one of the distinguished companies that provides investors with the opportunity to identify an unlimited number, from Distinguished real estate projects and optimally benefit from the advantages of real estate investment in Turkey.
• Negotiating prices: This requires a good negotiation to reach the best price through our experts at Right Home, and to benefit from the strong relations it has with the various construction companies in Turkey, in addition to benefiting from its distinguished offers to investors.
• Determining the price and submitting the deposit: This stage takes place after consulting the real estate agent, in which an amount of money is paid according to the agreed total property value.
• Preparation of purchase papers: At this stage, the property is owned by the investor wishing to purchase, and the real estate agent begins preparing the documents and papers that are required for ownership.
• Finishing the procedures: At this stage, the so-called tax number is obtained, after the necessary documents are prepared, translated and certified, and then an account is opened in one of the banks in Turkey, then the contract is signed and the building permit is obtained to register the property, and in the step The latter is directed to the real estate department to register the property after the security approval is issued.
• Receipt of the Tapu: The official ownership document known as the Tapu is considered a main guarantee of ownership of the property, and the stage of receiving the Tapu coincides with the payment of the rest of the total property amount.
• Furnishing the property: This stage is considered the last stage that must be done when buying a property in Turkey, and Right Home helps investors permanently in this stage and beyond by opening bills, and other procedures that make investors feel the advantages of real estate investment Actually in Turkey.
In conclusion, we have talked about many advantages of real estate investment in Turkey, and we have reviewed the steps that must be followed when buying a property in Turkey, in addition to knowing whether real estate investment in Turkey is profitable or not, at a time when it is possible to communicate with Right Home Company to know the best Available real estate options, and investing successfully to obtain Turkish citizenship.