Factors for the success of real estate investment in Turkey

Created: 2021-06-13
Last Updated: 2024-04-20
Views: 3840

Content Index

First: Factors for the success of real estate investment in Turkey:
Second: Reasons that encourage real estate investment in Turkey:

In recent years, according to the opinions of experts and economic analysts, the real estate sector in Turkey has been able to achieve qualitative leaps and impressive successes that have greatly contributed to the Turkish economy and had a significant impact in raising Turkey's status and attracting foreign investors to it from all sides.
And certainly, this success of real estate investment in Turkey had factors and reasons to help, so what are they?
We will get to know them below:

First: Factors for the success of real estate investment in Turkey:

Amendments to the law of real estate ownership in Turkey:

One of the most important factors that contributed to the success of real estate investment in Turkey and attracted investors to buy real estate in Turkey are the amendments that affected real estate laws, especially the law of real estate ownership in Turkey by foreigners, where many restrictions were lifted and many facilities were granted to foreigners wishing to buy a home In Turkey , and with this , Turkey was able to target a wider segment of investors , but with that there are still some conditions related to owning real estate for some countries and nationalities .

Repeal of the Reciprocity Law:

This law is considered one of the laws that most encouraged real estate investment in Turkey, as reciprocity with the country to which the foreign investor belongs was abolished, and this gave investors greater comfort and wider opportunities to purchase real estate and establish various investment projects on Turkish lands. Reciprocity law for 138 countries around the world.
In order to understand this law more clearly, we will present a simple example: If a person of French nationality, for example, wants to buy a property in Turkey, he can do so without complications or additional conditions, while a Turkish can only buy a property in France after bringing certain documents such as a university qualification and others.

The law determining the status of a foreigner from owning real estate on Turkish lands:

This law has contributed to regulating the process of owning real estate in Turkey by foreigners, as a foreign investor who does not hold Turkish citizenship is not entitled to buy real estate with an area of more than 10% of the area of the surrounding area, but if he owns multiple properties distributed throughout Turkey The area of these real estate and property should not exceed 30 hectares.

Providing mortgage insurance programs:

As Turkish banks allow real estate loans to be granted to beneficiaries with the lowest possible interest and the longest repayment period for these loans , in addition to tax exemptions related to mortgage loan installments .

Second: Reasons that encourage real estate investment in Turkey:

1- The strategic location that Turkey enjoys, which helps greatly in the success of real estate investments, as it is located between the continents of Asia and Europe, and this is what benefits trade relations with the revolving countries and thus will contribute to the success of the investments.
2- The charming and pleasant climate that Turkey enjoys, which differs from the climate of the Middle East and Africa, for example, as it tends to be moderately Mediterranean and therefore attracts Arab investors, especially the Arab Gulf countries, who prefer to buy real estate in Turkey than other countries.
3- The opportunity to obtain Turkish citizenship through real estate investment by buying a property or a group of properties in Turkey with a minimum price of 250 thousand dollars, and this figure, which was previously 1 million dollars, has been reduced. Certainly, Turkish citizenship has many advantages as The Turkish passport ranks highly in the world.
4- Real estate prices in Turkey, which are low compared to other countries, as you can find cheap apartments for sale in Turkey in any city and with good specifications, and this is not available in European countries.
5- Obtaining real estate residency, as once you buy a property in Turkey, you will obtain real estate residency in it, and thus you will be able to enter and exit Turkey completely freely without the need for an entry visa.
6- Large tax cuts on real estate in Turkey, which encouraged investors to enter the Turkish real estate market, in addition to the facilities related to real estate ownership procedures and the development of plans to prevent real estate fraud.
7- The wide options for real estate in Turkey, as you can find different forms to suit all tastes and societal groups. All forms of apartments, residential complexes, and villas are spread in Turkey, in addition to commercial real estate, malls, hotels, and others.
8- The nature of the hospitable Turkish people, who are known for their love for the guest and their kind treatment, and this is what brings comfort and reassurance to the person and makes him feel as if he is in his homeland.

#apartments #istanbul #turkish_citizinship

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