Turkey real estate attracts a lot of foreign investors
Last Updated: 2023-07-27
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Turkey real estate attracts many foreign investors
Many questions are asked by foreign investors, to know all the details of the Turkish real estate market
In this article, we will answer the most important axes related to the real estate market in Turkey
In this article, we will answer the most important axes related to the real estate market in Turkey
Why invest in Turkey?
There are many reasons for business people to invest in Turkey
- Turkey's geographical location:
It occupies a strategic location in the middle of the continents of the ancient world, and this makes it a global trade route, and it also overlooks the Bosphorus Strait, through which 3% of global supplies pass.
- Successful economy:
The Turkish economy is characterized by its rapid development and stability, as the Turkish domestic product has more than tripled since 2002, and Turkey ranks 13th among the largest economies in the world, and seeks to enter the club of the top ten.
- Population:
Turkey's population is about 83 million, which provides a very large local market. Half of Turkey's population is under the age of 31, and the number of professionals and educated people is estimated at 32 million.
- Infrastructure:
Turkey has a developed technical infrastructure in the transportation, communications and energy sectors, and is characterized by a developed railway that facilitates transportation to central and eastern Europe.
- Tourism in Turkey:
Turkey enjoys a cultural and historical heritage that extends for thousands of years and includes historical landmarks dating back to many civilizations in various states. Thus, Turkey rose to the fourth place in Europe and the sixth in the world in terms of receiving tourists. In 2019, it received about 52 million tourists, generating revenues of $ 34.5 billion.
What distinguishes the Turkish real estate market?
Here we are talking about the real estate market in Turkey, which represents 20% of the GDP of a country that ranks 13th among the strongest economies in the world. The other thing is the decline in the exchange rate of the Turkish lira against other currencies, which provided many purchasing advantages for foreigners, whether in consumer or productive spending. Whoever spent a dollar last year used to take 5.5 Turkish liras for it, and he is the same person who can now get about 7.8 liras for that dollar; While the value of the hard currency has doubled, real estate prices have remained almost constant in the Turkish lira, allowing for strong investment entry points.
in this sector during that period
There are many reasons that support the timing of entering the Turkish real estate market now, in addition to the fact that the real estate sector is not affected by the recurring crises that hit the economy from time to time. The crises that the Turkish economy is going through are that they usually do not last long on their own
The demand for real estate remains high by Arabs, Iranians and Europeans, which contributes to the continued dynamism of the Turkish real estate sector as a safe haven for capital.
The demand for real estate remains high by Arabs, Iranians and Europeans, which contributes to the continued dynamism of the Turkish real estate sector as a safe haven for capital.
Buying a property in Turkey gives you Turkish citizenship
This decision explains the influx of Iraqi and Iranian investors to buy a property that gives them Turkish citizenship
The Iranian passport is considered the sixth worst passport in the world. Its holders can travel to only 5 countries without a visa, while the Iraqi passport ranked third in the world among the worst passports.
While the Turkish passport ranks 39th among the best passports, which qualifies its holders to travel to 112 countries around the world without a visa or with a visa upon arrival at the airport.
Types of Turkish passport
The Turkish passport varies to include about four types:
- The public passport is issued to ordinary Turkish citizens and foreign investors after obtaining Turkish citizenship.
- The private passport is issued to Turkish citizens who have certain job grades, such as retired parliamentarians and others.
- Diplomatic passport issued to Turkish officials.
- The service passport is issued to all state employees working abroad.
The government grants Turkish citizenship when you buy a property, whatever its type, within the following conditions:
- To be an adult over 18 years old.
- That your original nationality be among the nationalities allowed to own and buy a property in Turkey, and we mention among the nationalities prohibited from owning and buying a property in Turkey "Armenian"
- The value of the property in Turkey that you will buy should be (250) thousand US dollars, or its equivalent, according to the exchange rate.
- You can buy more than one property in more than one region in Turkey, provided that the total value of the total real estate is (250) thousand US dollars.
- The property must not be sold for three years
What are the advantages of obtaining Turkish citizenship?
Among the other privileges and benefits that foreign investors obtain by obtaining Turkish citizenship is the enjoyment of citizenship rights and benefiting from the privileges that a Turkish citizen obtains, such as health insurance, free education, and participation in elections of all kinds.
Thus, they can influence the future and decisions of the country in which they put their money, and the foreign investor, after obtaining Turkish citizenship, will naturally get rid of everything related to residence procedures, renewal, travel outside the country for that, and other routine matters that are not free in any country when Renewal of residence. He can also invite a number of acquaintances and friends outside the country to reside in Turkey, work or study.
Among the other privileges and benefits that foreign investors obtain by obtaining Turkish citizenship is the enjoyment of citizenship rights and benefiting from the privileges that a Turkish citizen obtains, such as health insurance, free education, and participation in elections of all kinds.
Thus, they can influence the future and decisions of the country in which they put their money, and the foreign investor, after obtaining Turkish citizenship, will naturally get rid of everything related to residence procedures, renewal, travel outside the country for that, and other routine matters that are not free in any country when Renewal of residence. He can also invite a number of acquaintances and friends outside the country to reside in Turkey, work or study.
I want to reside in Turkey, and I cannot buy a property worth 400,000 dollars
In this case, you can buy a property for less than 400 thousand US dollars to obtain a real estate residence permit that allows a foreigner to reside in Turkey, and it is one of his rights and is given to him by the Immigration Department so that he can enter and exit Turkey without a visa, and its condition is that the foreigner is the owner of a property in Turkey
This residency is currently considered one of the strongest Turkish residencies, with a guarantee of renewal every year for the property owner and his family.
Many foreigners and Arabs seek to reside in Turkey, and real estate residency was a great opportunity for them for investors, as he obtains residency because of his purchase of a property in Turkey, and at the same time they can benefit from the real estate in Turkey in their investment work in particular that Turkey is striving towards developing and raising the level of investment in it Especially real estate investment, which in turn leads to a significant increase in the level of the Turkish economy.
What are the best Turkish states for real estate investment?
Istanbul is undoubtedly the best destination for investors, due to its important geographical location, real estate diversity, and major investment projects that contribute to attracting investors from all over the world, such as Istanbul's third airport and the Istanbul Canal, which will be one of the most important waterways in the world.
After the opening of Istanbul Airport, real estate sales in Turkey rose to their highest level in 10 years.
Antalya also ranked second among the most attractive Turkish states for investors, while other investors go to buy real estate in the capital, Ankara and Trabzon, due to its distinctive tourism activity.
Important tips for those who want to buy a property in Turkey
- Individual opinions of investors, as they are experiments that may be successful or failed, and may be based on true or false foundations, so do not listen to them
- Build your decisions and investment steps on real estate expertise, according to the opinions of specialists and completely legally, as real estate companies in Turkey provide you with dealings with the most skilled experts and specialists, including architects, civil engineers, interior designers, and the best lawyers
- Real estate companies, thanks to their strong network of relations, inside and outside Turkey, offer you to do everything related to the management of official papers and documents, residency, passport, lease and sale contracts, and remote investment, as quickly as possible, and thus save a lot of time and fatigue of the investor and you can sometimes, accomplish Remote official deals
- The real estate company accompanies you from the moment you think about starting your real estate investment in Turkey until the completion of the investment, and even provides a lot of services after the investment process by marketing the property, following up on different clients, such as tenants and others, and supervising residential complexes, resorts, and others.
- Real estate companies will inform you of the smallest details related to the lowest step they will take
- Real estate companies in Turkey help you to develop a lot of investment plans for your real estate according to healthy and well-studied foundations, with the help of the expertise of the most skilled specialists.
- Real estate companies provide you with renewable real estate offers on a daily and permanent basis, and they stay with you until you choose the right property for you, your dreams, and your future investment plans.
- Real estate companies provide you with smooth dealings, whether with their employees, customers, or with local and international official bodies
- Do not forget that real estate companies in Turkey provide you with a realistic tour before you place your hand and final decision on the property, and provide you with the most accurate details related to real estate in Turkey, and a brief history about it.
- Real estate companies in Turkey are working to get your desired property, and to make your various investments in it in an organized and thoughtful manner, away from falling into investment obstacles and difficulties, and fraud and fraud attempts.
- These companies also offer a lot of additional services that you would like to obtain, such as housing insurance for you and your family, renting a car, explaining real estate investment and real estate in Turkey, choosing the right time to start your investment, or marketing your property.
Edited by Mersat Real Estate Team ©
Sources:
Al Jazeera Network
Anadolu Agency
Turkish Statistical Center
Multiple agencies
Al Jazeera Network
Anadolu Agency
Turkish Statistical Center
Multiple agencies
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