The importance of real estate investment in Turkey

Buying a property in Turkey has become encouraging, and with the increase in real estate projects in each region, the most important question remains: Should you exchange the dollar for the pound for an apartment in Istanbul or a villa in Basaksehir or Sultan Eyup?

The weak Turkish lira is fueling Turkey’s real estate boom.

In August 2017, the exchange rate was 4.5 Turkish lira to the pound. In August 2018, US sanctions on the lira caused it to fall from 6-9 liras at the height of the currency crisis.

This means that Turkish lira real estate is suddenly becoming very affordable for anyone using foreign currencies. Investors from all over the world have noticed that flights from the Middle East, Germany and the UK are fully booked in August, and vacationers and property investors are keen on it. Take advantage of this. Find the faltering lira and get a good deal.

The Turkish Statistical Institute (TurkStat) announced a 129.6% increase in property sales to foreigners during August 2018. The numbers rose again by 151.1% in September, which is a notable increase.

The majority of sales were to people from the Middle East who chose to buy investment properties in Istanbul, although there are many Europeans, Arabs and Russians who have bought modern properties and villas in Turkey and areas like Bodrum. So far, with the lira recovering, real estate prices are still opening the way for buildings for sale in Turkey. The country is affordable for foreigners.

Buying real estate in Turkey is a good investment. Reasons and motives

Each business has a set of components, and it is possible to invest in real estate in Turkey for the following reasons:

Real estate investments in Turkey are a way to obtain citizenship in Turkey.

If the investor wants to invest 250 thousand dollars in Turkish real estate for three years and obtain Turkish citizenship, this opportunity is available now.

Previously, only those who spent 1 million dollars could apply for Turkish citizenship. Now the required amount is only a quarter and can be invested easily. Officials expect that this move will double real estate sales in Turkey and attract money that can be invested in various ways.

The real estate planner is working, real estate sales to foreigners are increasing and real estate agents are receiving more inquiries and enjoying more sales as a result.

Buying a property in Turkey is a simple procedure

Turkey has amended its law to make it easier for investors to purchase land. Now buying a property in Turkey is faster and easier than ever before.

In many cases, apartments and villas can be purchased in Turkey within only 24 hours. Value-added tax deductions help boost purchases and the real estate sector has become more stringently regulated.

Strong rental demands

The exchange rate has fueled the highly profitable short-term tourism market, which thrives in Istanbul and along the coast. The housing shortage in cities makes long-term rental requirements constant.

Despite strict rental rules that originally prevented some investors from buying for rent, every city and town now has management companies dealing with the hassles of the new rules. Possible profits attracted investors in this field,who enjoy leasing. Many of them enjoy very healthy yield benefits.

Affordable life in Turkey is easy for foreigners

The weak lira means that daily living costs are a fraction of those in the UK and most of Europe.

Utilities, groceries, eating out, and commuting are all fairly cheap, and this has resulted in expat communities popping up in the most popular areas. Foreigners are now choosing Turkey over expensive countries such as Spain and Portugal.

The combination of affordability and gorgeous scenery along with Turkish hospitality, makes it a successful investment.

In Turkey, real estate is affordable and a very reasonable investment. In addition, it has a good return on investment, and when asked why to invest in Turkey, the answer will be that it is logical and profitable, because Turkey has the best legal system.

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Real estate investment in Bodrum, Turkey