Today, many investors are looking for suitable opportunities for safe and reliable investment outside their country, and the majority of them are heading to Turkey and want to buy investment properties there. Turkey is distinguished by high investment rates at the global level due to the facilities provided by the government to investors and the many benefits of Buying Real Estate in Istanbul. Here are more details about the benefits of Buying Real Estate in Istanbul.
What are the advantages of real estate investment in Türkiye?
The benefits of Buying Real Estate in Istanbul are the following points:
1-Distinctive returns that grow over time
The real estate investment opportunity in Istanbul is an unparalleled opportunity that many investors are looking for, as you can achieve the highest returns and benefits from this investment.
It is known about real estate investment in general that the capital in it maintains its true value, and the value of the property may often increase, reaching the percentage of annual profits through investment returns achieved through resale or leasing to 12% of the original value of the property.
The benefits of Buying Real Estate in Istanbul returns in Turkey increases, especially if real estate ownership in Turkey is long-term, which means an increase in the value of the property after years, and thus an increase in capital.
Investing in a country like Turkey is considered a safe investment, in addition to the large and continuous requests for rents in Turkey that make the additional income expected from renting the property an almost constant income.
2-The possibility of obtaining Turkish citizenship
What has increased Turkey’s weight in being among the best countries in the world for real estate investment is linking the granting of Turkish citizenship to owning a property worth 400 thousand US dollars, whether the property is an apartment, an office, a villa, or a shop.
And with reduced conditions, which was considered a strong incentive, especially For those coming from unstable countries, to buy real estate in Turkey, even if this is accompanied by a rise in real estate prices in Turkey, which means that the demand for real estate in Turkey remains despite all circumstances.
3-The Turkish government’s support for the real estate sector
One of the benefits of Buying Real Estate in Istanbul is that the Turkish government has given special importance to the real estate sector through many real estate campaigns in recent years, and the President of the Turkish Republic, made a special appeal in 2017 in order to activate real estate companies throughout Turkey.
By organizing many real estate promotion campaigns, perhaps the largest of which is the one that offered to sell apartments throughout Turkey in comfortable installments of up to 240 per month!The most prominent activities carried out in this context are the following:
- Some real estate companies sought to cancel the benefits completely based on the directives of the President of the Republic.
- Advance payments for those wishing to own property in installments were reduced, and the percentage was withdrawn from 25 percent to 20 percent.
- Foreigners and expatriates have been exempted from VAT while purchasing real estate.
- Turkish law grants the foreign investor the right to obtain real estate residency for himself, his wife, and his children, in exchange for purchasing a property there.
- On September 18, 2018, a decision was issued in Turkey granting the right to apply for Turkish citizenship to a foreign investor who owns a property worth $250,000.
4-The Turkish real estate market is full of promising and distinctive opportunities
One of the benefits of Buying Real Estate in Istanbul is that the Turkish real estate market offers multiple and diverse opportunities and options, and this diversity is one of the most prominent reasons for the strength and distinction of real estate in Turkey, which is due to the expansion of Turkey’s area.
The different nature and climate of its cities, and the strength of the infrastructure, which means the multiplicity of real estate options in the country, and the competition in their prices, which gives growing opportunities in Turkey’s real estate, from east to west, and from north to south, whether those properties are commercial, such as: commercial offices and shops, or residential, such as: villas and apartments.
5-Real estate prices are cheaper compared to Europe
One of the benefits of Buying Real Estate in Istanbul is that real estate prices in Turkey are described as significantly cheaper than their counterparts in Europe, with infrastructural features that are similar to the structure of developed European countries.
Turkey real estate is suitable for all budgets, with many facilities and incentives that make investing in Turkey an encouraging opportunity, if added to the various attractions that attract attention in Turkey.
6-Tax exemptions for foreign investors
The Turkish government continues to provide the necessary facilities to foreign investors, with the aim of increasing foreign inflows to the country, and among these facilities provided is the exemption from value-added tax in Turkey, which concerns foreign investors who are not residents of Turkey.
Tax cuts in Turkey are considered an effective tool in the hands of the economic decision maker to stimulate the local economy, in addition to being a motivating factor to attract foreign investments.
These reductions included a series of decisions that specifically dealt with the real estate sector in Turkey, which played an effective and positive role in stimulating foreign investors to acquire more real estate, which helped infuse more blood into the veins of this important sector, and contributed to reviving the real estate market in general.
Is real estate investment in Türkiye protected against inflation?
Regarding the impact of inflation on real estate investment in Turkey, there is no doubt that it has negative effects on the local consumer price index, which depends on its income on the Turkish local market.
And therefore bring their investment money from outside the Turkish local market, for these investors, the high rate of inflation will not affect purchasing and renting for them, but perhaps high inflation will be beneficial to them sometimes. Buying and renting real estate becomes less expensive when their foreign currencies are compared to the Turkish lira.
Conclusion
In conclusion, Turkey offers many facilities for those wishing to invest in real estate within Istanbul specifically, so many investors want to own or rent a property, in view of the benefits of Buying Real Estate in Istanbul.
