If you take the opinion of real estate experts around the world, specialists and owners of previous experiences, you will find that many of them support the idea of investing in real estate specifically without other types of investments, as it is safer, and the returns it provides are high and the risks are few compared to other types of investment.
In this article, you can learn about the most important details related to the future of real estate in Turkey and whether it is a good option for real estate investment or not?
We wish you an enjoyable read.
In order to find out what the real estate situation will be in the future, you must first of all find out about the importance of these properties and the most prominent details related to them, as well as to the reasons that drive the someone to search permanently for real estate for sale in Turkey specifically and not in other countries of the world.
Through the following paragraphs, you can see the most important support for your decision to buy real estate in Turkey:
If you are wondering about the first reasons that push foreigners to buy real estate in Turkey, it is Turkish citizenship, which is among the many facilities provided by the Turkish government to all those wishing to buy and own real estate in Turkey, but certainly it is not arbitrary or anyone can buy a property, whatever its specifications and price. To apply for it, there are many conditions that must be fulfilled in the real estate and in the foreigner as well, the most important of which are:
-The property value must not be less than 400,000 $.
-The property shall not be sold until at least three years have passed from the date of purchasing it.
-The seller must be Turkish and not foreign.
-Paying the value of the property by bank transfer to the buyer's account.
-Extracting the real estate appraisal document, which is an urgent necessity because it controls real estate prices.
-The property should not have been used earlier to obtain Turkish citizenship.
Construction companies are keen to build real estate projects that comply with the conditions for obtaining Turkish citizenship, in accordance with the desires of many foreigners and investors around the world, and this has been demonstrated through statistics issued by the official authorities, which stated that more than 40% of those who are coming to buy real estate in Turkey aim to get Turkish citizenship.
In your opinion, what are the consequences of the great desire of foreigners to get Turkish citizenship? It will certainly lead to a rise in real estate prices because the construction companies, as we mentioned above, are working on building them in accordance with the conditions for obtaining it, and therefore at least the price of the apartment or property will be 400 thousand US dollars in most of the luxury projects and within the high-end areas.
It should be noted that among the many facilities offered by the Turkish government to those wishing to get Turkish citizenship through real estate investment, it did not identify a specific type of real estate for this. By doing so, the person has achieved two goals at the same time (real estate investment + Turkish citizenship).
Did you know that a large group of those who accept real estate in Turkey seek to obtain real estate residency, which are considered one of the strongest and most important types of residencies in Turkey, due to the ease of getting it on the one hand and on the other hand, due to the possibility of renewing it annually as long as the foreigner owns this property in addition to being the legal means by which It allows the holder to stay in Turkey legally and without being subject to violations.
How do you get real estate residency?
Simply, the price of the property must be at least 75,000 US dollars, and a specific type of property has been identified, which is residential real estate. In the case that the property is commercial, it will not be suitable to apply for it. Do not forget that a foreigner is not entitled to buy a property or an apartment within an area characterized by a security or military nature, and therefore should not search in those areas and also make sure that investor does not hold one of the five nationalities prohibited from buying real estate in, namely:
Have you thought about investing in real estate in Turkey? If you are interested in the Turkish real estate market, you will find that a large group of people coming to own real estate in Turkey aims to enter the real estate investment world to get a rewarding return throughout the year. All indicators and evidence confirm that investment on Turkish land will have positive results. Through the following points, you can see the most prominent of them:
-The booming Turkish economy is continuing in achieving distinctive growth results. This has emerged over the past ten years. According to economic analysts and specialists, in the coming years it will achieve more progress than it is now, and it is expected that in the coming years it will be in the top five globally for two main reasons, according to what one of the Spanish magazines states, namely:
*The young demographics in which Turkey is distinguished, unlike many European countries that suffer from a large aging population.
*The well-studied strategic plans that the Turkish government constantly puts in place.
-Turkey is characterized by a state of political stability, which had an important reflection on the future of real estate, and this is what many countries around the world lack, especially the countries of the Middle East.
- Sophisticated and modern infrastructure, what you do not know is that all urban projects close to vital strategic projects achieve a continuous increase in their prices.
-The unlimited facilities provided by the Turkish government to those wishing to buy real estate in Turkey, such as tax cuts and exemption on added value tax.
Speaking about real estate investment in Turkey, you should know that the investment movement in Turkey is proceeding according to a steady pace built on strong foundations, and this is proven by the great foreign demand for buying and owning real estate in Turkey over all the previous years, specifically since the abolition of the principle of reciprocity was announced which removed the obstacle in front foreigners, and it became possible for different nationalities to own property.
One of the first questions that you will ask if you are going to buy a property in Turkey is whether the prices you will find are high or low? Are they suitable for different budgets or are they limited to specific groups of society?
In fact, real estate prices in Turkey are cheap compared to real estate prices that you will find in other countries such as the European Union and the American countries, and a number of Arab countries such as the Arab Gulf countries, and although for years and until today they have recorded successive rises, they remain much cheaper than others. This is precisely what prompted investors around the world to make it their first undisputed destination.
In the future, real estate prices in Turkey will rise significantly, at high rates that may exceed 50%, for a number of reasons, including:
-The high costs of building materials because Turkey imports them from abroad.
-High population density, which increases the demand for buying and renting real estate.
-Tourists flock throughout the year to visit its tourist, historical and natural attractions.
-It is a destination for treatment after the comprehensive renaissance that Turkey witnessed in the world of medicine and health.
-Many students around the world choose to study in schools and universities in Turkey.
-Changing of the value of the Turkish lira against foreign currencies.
-The high quality of real estate in Turkey.
-Continuing to grant the Turkish citizenship program in return for real estate investment.
-A wide variety of real estate to suit different tastes.
-The size of the real estate offered for sale has decreased in front of the real estate required for purchase.
Are predictions indicating a rise in real estate prices in Turkey in the future is positive or negative news? The biggest beneficiary of this matter are real estate investors who hope to get high and abundant profits throughout the year and continuously. For example, a foreigner who bought when prices were moderate and appropriate can sell when prices rise to take advantage of the price difference that will result between the buying and selling stages, and what you do not know is that rental prices also rise if you want to rent your property in Turkey.
(The opportunity is still available in your hands now to get a wonderful apartment at a low price to sell in the future at a high price and benefit from the price difference and make the profit you hope for).
In addition to all the advantages that we mentioned to you in the previous paragraphs about the importance of buying real estate in Turkey, there are many other positives that push the foreigner to think seriously about buying in it, and here are the most important ones:
-The distinguished strategic location that Turkey enjoys between three continents, namely Asia, Europe and Africa, as well as overseeing four seas (the Aegean Sea - the Black Sea - the Mediterranean Sea - the Sea of Marmara) which gave it more importance, sophistication and luxury.
-If you do not want to buy a property in Turkey from one of the private construction companies, you can choose one of the projects that are guaranteed by the government, as they are more secure for some with others.
-If you do not have the financial balance to pay the full value of the property in one go, you can choose to buy an apartment by installments and pay the value of the property in the long term without facing any financial pressures or having to borrow to secure its value.
-In Turkey, it is easy to find a suitable property for you with a sea view or a view of the green spaces for a high-end residence.
-Many real estate and investment projects in Turkey are being built according to international standards and standards and using the best materials.
There are many criteria that you must take into account in order for your real estate investment in Turkey to achieve high profits, and through the following paragraph we will review them in full:
-Choose the area of the property with great care, it does not have to be large, but preferably small or medium, to make it easy to rent and resell when you want to.
-Find a strategic geographical location close to tourist attractions, or strategic infrastructure projects such as airports/ bridges/ tunnels/ malls/ public transportation lines, etc.
-The more modern specifications the property has, the higher the price and the greater the demand for it.
-Choose modern properties as they do not need any maintenance, repair or restoration work.
-Use a real estate company with experience, knowledge of everything related to the real estate market in Turkey.
Certainly, the rise in real estate prices in Turkey will include various Turkish cities without exception, but there are states that will be more affected, and on top of those cities (Istanbul), which is the incubator of many distinguished strategic projects such as Istanbul's New Airport and the New Istanbul Water Canal, in addition to the modern and advanced transportation network that contributed to linking the city with each other, and it should be noted that the prices of real estate and projects close to those projects are constantly rising because the demand for them is great.
We also have another reason that contributes to a significant increase in real estate prices in Istanbul, which is that this city has a distinct tourist nature, as it annually hosts millions of tourists from different countries of the world due to its many historical and archaeological landmarks. Especially near tourist sites or hotels, hotel apartments, restaurants, cafes, shops and malls with strategically distinctive locations.
If you want to buy a property in Turkey, we advise you to contact our real estate advisor now to provide you with many unique opportunities that suit you, the current time is the best option to buy an apartment in Turkey, and this is based on the reality of the real estate market in Turkey and predictions that indicate its important future and its position among other real estate markets .