Over the years, The real estate market in Turkey has grown consistently to become a key market in Europe. In just 2021 alone, a whopping 1.5 million real estate properties were sold in the country alone.
In addition, other attractions of Turkey include its strategic location, powerful investment opportunities, and stable economy.
The Benefits of investing in real estate in Turkey
The Turkish real estate market comes with numerous benefits for foreigners. There are many advantages to buying properties in the country. Unlike most other European countries, Turkey is one of the best destinations when it comes to investing in real estate. This post examines some of the benefits that you get when you invest in Turkish real estate. The investment returns increase with time.
During the time of the year when tourism peaks, there are usually millions of people that flock to the country for various reasons. Due to this influx of people, there is usually a high demand for properties, accommodation, and rent. Many smart international investors notice this and are quick to invest in the country and to get a lot of returns on investment. The Turkish citizenship
Turkey is a beautiful country that so many people in the world wished that they could be a citizen. This dream is not difficult to achieve if you have $450,000 to spend on a real estate property in Turkey. In Turkey, if you have a villa, an office, a shopping mall, an apartment, or a simple shop that you have bought for about $450,000, then you can easily become a citizen of the country. This incentive has continued to motivate people coming from Middle-eastern countries (which can be unstable) to have new citizenship. The Turkish real estate sector enjoys massive governmental support.
The Turkish government have long supported its real estate industry for many years. This is why the marketplace keeps expanding at a geometric pace. The Turkish president has continued to support real estate developers and companies. He has also continued to support campaigns and initiatives that encourage buyers to easily afford a home. In one of these campaigns, he made it possible for houses to be sold throughout the country using instalments. This offer can take as much as 240 months to complete by the buyer – which is about 20 years. The Turkish real estate market comes with numerous rewarding and promising opportunities.
With almost 2 million properties sold alone in 2021, Turkey has the cheapest prices than any other European country. The country offers affordable real estate options without the need to compromise quality. In Turkey, you can find various real estate properties that are ideal for every preference and budget.
In the country, there are numerous opportunities and different ways to make money. Dubbed the Dubai of Europe, Istanbul is a great commercial hub where many businesses all over the world have their headquarters. Turkey have very cheap property prices than most European countries.
In Turkey, you can get cheap houses to invest in. Many properties are built with high quality and by experienced property development companies. With various available properties, you generally have a large amount of real estate properties to buy. Many villas, apartments, and commercial units are sold for cheap prices in comparison to other European countries. Foreign investors in Turkey have tax advantages.
Foreign investors that put their money in the Turkish real estate sector enjoy a lot of benefits. Investors that stay outside of Turkey are exempted from paying VAT (Value-Added Tax). The typical VAT in Turkey is between 1% and 18% of the total sales price of the property.
Foreign investors can use the tax exemption to their advantage and save a lot of money. A tax incentive is a tool that the government uses to increase the number of foreign investments in the country.