What are the advantages of tourism real estate investment in Istanbul
Last Updated: 2023-07-27
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What are the advantages of tourism real estate investment in Istanbul
Turkey is one of the countries attracting giant foreign investments, especially with the launch of its new global projects such as Istanbul's third airport and the new Istanbul Water Canal, in addition to the Turkish government's programs to support investors in general. Marsat Real Estate will discuss with you in this article the advantages of real estate investment in Turkey in light of the current economic conditions, the advantages of tourism real estate investment, and the difference between it and the rest of the investments in real estate fields.
You will read in this article:
Advantages of investing in Turkey
Geographical location and historical legacy
stable economy
Turkish citizenship programs
Real estate diversification
What is tourism real estate investment?
What distinguishes real estate investment in tourism?
Government privileges for owners of tourism investments
What are the most important tourist real estate investment projects in Istanbul
Advantages of investing in Turkey:
Geographical location and historical legacy: Turkey occupies a strategic location in the middle of the continents of the ancient world, and this is what makes it a global trade route. It also oversees the Bosphorus, through which 3% of global supplies pass. It also enjoys a cultural and historical legacy that extends for thousands of years and includes historical landmarks dating back to many civilizations in different states. With this, Turkey rose to the fourth place in Europe and sixth in the world in terms of receiving tourists. In 2019, it received about 52 million tourists, achieving revenues of 34.5 billion dollars.
Stable economy: The Turkish economy is characterized by being rapidly developing and stable; Turkey's GDP has more than tripled since 2002. Turkey is also the 13th largest economy in the world and is seeking to enter the top ten club. In addition to the advanced technical infrastructure in the sectors of transportation, communications and energy. It has a well-developed railway that facilitates transportation to Central and Eastern Europe.
Turkish citizenship programs: Also, through any investment field, investors with a capital of five hundred thousand US dollars and above can apply for Turkish citizenship. But if the investment is through the acquisition of real estate, here too, through the price of the property being 400 thousand US dollars or more, the willing investor can obtain this citizenship.
Real estate diversification: Real estate in Turkey includes 3 types:
First - Commercial real estate: This type includes offices, shops, and industrial real estate, which are classified as non-housing properties.
Second-Residential real estate: It is real estate expropriated for the purpose of housing, such as villas and apartments.
Third - Tourist real estate: It is real estate expropriated for the purpose of investing in the tourism sector, which is what we will discuss in this article.
What is tourism real estate investment?
Under the umbrella of tourist real estate, all real estate designed for the purpose of serving tourists. These properties are usually built in tourist cities near monuments and financial and business centers such as restaurants, cafes, hotels, malls and entertainment venues, in addition to hotel apartments and chalets.
Under the umbrella of tourist real estate, all real estate designed for the purpose of serving tourists. These properties are usually built in tourist cities near monuments and financial and business centers such as restaurants, cafes, hotels, malls and entertainment venues, in addition to hotel apartments and chalets.
What distinguishes real estate investment in tourism?
Tourism real estate investment is distinguished from residential or commercial real estate investment by the feasible financial return. According to the Studies Office of Mersat Real Estate Company, the revenues of residential real estate investment are between 4-8% of the value of the property annually, while the revenues of tourism real estate investment reach 18% of the value of the property annually, and hotels and hotel apartments are the best types of tourism real estate investments. By the way, there are many tourism investment projects whose financial return is in US dollars and not in local currency.
Government privileges for owners of tourism investments:
The Turkish government offers many privileges to foreign investors, especially with regard to tourism investment, and among these privileges are:
Exempting the foreign investor from the value-added tax in tourist shops, which amounts to 18% of the value of the property
Supporting construction materials in hotels by up to 60% of the value of construction
Allocating land for tourism investments at low prices.
The team of Mersat Real Estate has conducted many research and studies on tourism real estate investment in Istanbul, Antalya, Fethiye and Trabon and set a set of rules for the success of any investment in Turkey. You can visit the team and communicate with the real estate experts through the website or directly through the number +90 552 555 1 222.
Edited by Mersat Real Estate Team ©
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