Reasons for foreigners’ demand for Turkish real estate
Turkey is one of the best countries that offers golden investment opportunities in the real estate market, and one of the most important features that distinguishes Turkey from other countries is the strong government support for the Turkish real estate market and support for real estate projects and construction. companies
But are these reasons enough for the growing demand of non-Turks to buy real estate in Turkey !
In this article, we will explain to you in detail the reasons for the real estate demand of foreigners in Turkey in general, and we will also learn the reasons why the Turkish real estate market has not fallen into recession for many years.
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Reasons for foreigners’ demand for real estate in Turkey and real estate investment in general:
The Turkish lira against the dollar
The Turkish lira has recently fallen. This drop has helped push up the value of the dollar against the Turkish lira, and of course real estate in Turkey is sold at the value of the US dollar.
The decrease in the purchase value of a property in Turkey, which grants the buyer Turkish citizenship, which is now 250 thousand dollars, after it was previously 1 million dollars
Government statistics indicate that the percentage of property purchases increased in 2020 to 67%, after it was 49% in 2019
These reasons are enough to be the password to save the Turkish real estate market from collapse and one of the factors of continuity of attraction for investors in Turkey
The Turkish Statistics Authority presented a report stating that the number of properties sold in Turkey in the last ten years reached 500,000 and the number of properties purchased by foreigners reached 20,000 properties in the first six months of 2019.
According to a report provided by the Statistics Authority, the number of houses sold in Turkey in general reached 505 thousand 796,
turkish real estate market
Do you know what are the factors that encourage foreigners, especially Arabs, to buy property in Turkey?
The prices are very reasonable compared to Europe, in addition to the services provided, especially in residential complexes, such as security protection, entertainment and sports
Living in Turkey
Environment, Culture, Customs and Traditions for Arabs: Turkey is among the countries similar to Arabs in terms of social culture, customs and traditions.
The possibility of obtaining exceptional citizenship is also an important reason that cannot be ignored.
Benefit from a real estate investment in Turkey
As for real estate investment, for businessmen it is considered one of the important sectors, since the profit in it is almost guaranteed in Turkish Lira.
Turkey’s strategic location
Turkey’s strategic location connecting the two continents, Asia and Europe, is enough to attract foreign capital and investment, and the presence of free markets has also helped.
Government support for real estate investment in Turkey
The 2012 foreign ownership ruling allowed 183 nationalities to own after the case was limited to ownership in the name of a company, which played a major role in foreign ownership of Turkish land and investments .
Property taxes in Turkey
The reduction in the interest rate from 24% to 19.5% contributed to the outflow of funds from banks and their investment, particularly in the real estate sector, which is one of the most guarantor sectors for investors in on the one hand, and on the other hand, providing jobs and employment opportunities for other sectors, which brings benefits and increased profits.
Ease the process of buying property in Turkey
The opening of foreign offices of the Turkish Property Department, known as (Tabu), which allows foreigners to buy property in Turkey while they are in their country without having to travel to Turkey, and this has increased the percentage of purchases made from these offices, the most famous of which is the Turkish property management office in the German capital, Berlin
How to benefit from a real estate investment in Turkey!
Real estate investment in Turkey is a profitable and valuable opportunity, especially in light of the economic crisis the world is suffering due to the recent circumstances embodied in the Corona outbreak crisis and the Russian invasion of Ukraine
Therefore, real estate investment opportunities in Turkey provide you with many benefits and advantages which are described as continuity.
- Possibility of obtaining Turkish nationality If you are an entrepreneur and hold a nationality, you may encounter difficulties when applying for a visa
- The possibility of renting the property and benefiting from the monthly return
- Buy an old property, develop it and sell it, and make big profits
- Buying a property in Turkey in a promising area as a development and selling it after some time, such as the projects surrounding the new Istanbul water canal project
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