A Great Demand for Purchasing Apartments in Türkiye 2022
Last Updated: 2023-07-27
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A Great Demand for Purchasing Apartments in Türkiye 2022
Statistics of Türkiye's real estate sector show that real estate and apartment sales that are registered increase over time, thanks to the many facilities provided by the Turkish government to foreigners, incentives and attention to any problem or issue of interest to them.
Through this article, Mersat Real Estate will tell you about two main themes:
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Reasons behind the increasing real estate sales volume.
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Türkiye's most attractive cities for those who seek real estate for sale.
Why Is There a Great Demand for Real Estate Purchasing in Türkiye?
Recently, real estate sales in Türkiye have increased significantly,especially the apartments, so what are the reasons that may push or encourage any foreigner to buy them?
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First: The Law Grants Turkish Citizenship through Real Estate Ownership:
In late 2018, the Turkish government issued decisions to amend the conditions that must be met for obtaining Turkish citizenship through real estate ownership, instead of $1 million, the property must be priced at only $400,000.
According to many statistics on this issue, it has been found that most of those looking for real estate and apartments for sale in Türkiye want to obtain this citizenship, and as shown by statistics last year, more than forty percent of real estate sales in Istanbul have been done to achieve this goal.
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Second: Appropriate Property Prices:
The role played by real estate prices in Türkiye, through which it has attracted a lot of foreign capital and huge investments, cannot be overlooked, for example if you want to compare prices in Türkiye with European countries you will find them way cheaper.
The apartment prices in Türkiye are reasonable, besides, their high quality and design. And for the record, you will have the opportunity to realize your dream of living in an apartment with a unique view, which may be on a sea or on forests and greenery.
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Third: Changes in the Value of the Turkish Lira:
Many investors and foreigners have found that the fluctuations of the Turkish lira against foreign currencies is a golden opportunity to be seized by purchasing real estate in Türkiye, as stipulated in the Constitution the value of the property must be paid in local currency only. Therefore when exchanging the dollar to the lira, the buyer benefits from the exchange rate difference.
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Fourth: Real Estate Residence Permit:
Any foreigner who has bought an apartment in Türkiye or a residential property can apply for real estate residence permit, which is one of the most important types of residence permits ever for a number of reasons:
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Not only granted to the owner of the property, but also to the whole family (spouse + children under the age of 18).
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The holder of this residence permit can travel between the Turkish provinces without restrictions.
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He can travel to and from Türkiye without obtaining travel authorization.
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Access to medical, educational and recreational services.
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Fifth: Facilities and Governmental Support:
The Turkish government has spared no effort in providing incentives to make the investor take his decision to buy real estate in Türkiye, also has made sure to provide guarantees that make him feel protected and secure:
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Turkish laws are flexible, as it is known.
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Allowed the foreigner to purchase all types of real estate.
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Exempt foreigners from paying the value added tax (VAT).
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Easy real estate purchase procedures.
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Sixth: The Future of Real Estate in Türkiye:
What supports your decision or that of any real estate investor or interested in owning a property in Türkiye is its awaiting brightly secured future. Real estate prices in this country have been recording significant and successive increases, which have emerged over the last three years.
According to many experts and specialists, prices will rise significantly this year from 50% to 60%.
Among the main reasons for the price hikes are:
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The great demand for real estate purchases.
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High construction costs.
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The strength of infrastructure.
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High quality.
The Most Suitable Cities to Purchase Real Estate in Türkiye
When we talk about real estate in Türkiye, the first thing that comes to mind is the city of the two continents (Istanbul), which we always find has the first place in achieving the highest sales rate.
Istanbul is one of the best options to look for properties for sale in Türkiye, especially if you aim for real estate investment, here are the highlights of the information related to it:
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One of the largest and most densely populated cities with a population of 16 million.
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It has a lot of special real estate and investment offers.
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Construction companies are building the most luxurious and prestigious residential complexes.
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It is one of the most important cities in the world and the economic capital of Türkiye.
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It has an advanced infrastructure and has recently developed the most important development projects.
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A tourist destination that attracts many tourists around the world thanks to its archaeological and historical features.
After the completion of construction of some strategic projects in that city - such as the Istanbul Canal - real estate prices near to are expected to rise on the one hand, and the population of that city may increase by at least 1.5 million on the other.
Followed in second place by Ankara in terms of real estate sales, and in third place Izmir, and then Antalya and other cities.
The editorial team at Mersat Real Estate has presented to you everything you should know about purchasing apartments in Türkiye and the reasons for the increased influx of foreigners to buy them.
Marsat Real Estate offers you the best real estate investment opportunities in Türkiye when you communicate with us, as we provide you with a range of important counselling and advice. Be with our advisory team and do not hesitate.
Edited by Mersat Real Estate Team ©
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