Get to Know the Importance of Real Estate Investment in Turkey
Turkey is considered one of the favorite countries for investment because of its natural richness and nice climate, real estate ownership in Turkey is distinguished by its high profit returns because of exchange rates difference, as studies has proven many years ago that Turkey is among the best ten countries to purchase real estate globally, therefore it’s the place that motivate businessmen to do real estate investment in Turkey.
Features That Drive You to Invest in Real Estate in Turkey:
- Stability and adjustable investment laws in Turkey:
Investment in Turkey is considered somewhat one of the easy investments compared to other countries around the world, as the Turkish government contributes to offering facilities for investors like reducing the barriers that stands in the foreign investors’ way, also reduced the occurred costs, Turkey is also considered a suitable country and a fertile land for business as you can establish your company and private business within 6 days only.
- Advanced infrastructure in Turkey:
Turkey has demonstrated this advancement with its sophisticated technologies whether in transportation or communication, as the most important advancements in infrastructure is in transportation like the Turkey-Europe railway, in addition to the advanced maritime transportation with suitable value.
- Globally attractive touristic country:
Turkey as known is an attractive touristic country for all people, as tourist count in 2019 reached more than 48 million tourists travelled to Turkey, from this point we can say that the investor is interested in real estate investment in Turkey to make excellent profit returns in a country desired for tourism from all around the world.
- Tax value which considered low:
Investors around the world favors Turkey because of the low tax rates in favor of the investor, for example areas with urban or industrial development, the investor will get a very reduced tax rates, and there are companies that have been completely exempted from taxes.
- The existence of transportation to Europe:
The thread connecting Europe continent and the middle east is Turkey, as through Turkey energy resources is being transported to other continents, generally, Turkey is a neighbor of 70% of reserve energy resources in the world, that’s why Turkey is considered the important port for Europe.
- High economy:
As known, Turkish economy has previously achieved high ranks and climbed to the top, and promised to fly high in the near future after the stability of the country’s situation.
- High population:
High population is considered an imported factor for investment success in any country around the world, as for today we’re speaking about a high number motivating investors, its 85 million, this number helps make the investment decision in Turkey.
What are the Risks that Should be Avoided When Investing in Turkey:
- Real estate fraud:
This happens in many ways like exaggerating prices in order to make more money, undoubtably the new legislations issued by the Turkish government will solve this issue, as the Directorate of Land Registry has issued a law requiring foreigners to obtain real estate evaluation report, this law is not only related to those wanting to obtain Turkish citizenship after purchasing the property, instead, it is related to all foreigners who buy or sell any real estate in Turkey generally.
- The decline of exchange rate of the Turkish Lira.
This decline of the Turkish lira in the recent months have affected the Turkish economy and increased the real estate prices in Turkey, which raised some concerns about the future of investment in Turkey for those interested in purchase properties.
But the real estate sector was not affected and kept evolving and the proof of that is the increase of sold properties in Turkey in the last five years to reach almost 50 thousand properties in 2021, which demonstrates the resilience of this sector in the face of crisis that affects the biggest countries in the world.
- Dealing with untrusted parties:
If you want to make a successful investment in Turkey, you must do the following:
First: You should investigate the integrity and transparency of the company you will deal with to avoid falling in the risks of real estate investment.
Second: You should work with a trusted real estate agent or realtor, who have experience in the market in the important real estate investments.
Third: You should ask about the construction company that you will invest in their project, also, the investor should read the terms and conditions written in the contract in order to protect their rights.
Is Real Estate Investment the Best Type of Investment in Turkey?
Real estate investment is considered the best for many reasons, most important of which :
- The current economic situation of Turkey which gives the foreign investor great investment opportunities with high profit returns as well as obtaining the Turkish citizenship through this investment.
- Freedom of foreign investor in choosing their investment, as the Turkish laws does not require purchasing any specific type of properties, as there are many options like commercial buildings, lands, residential apartments, and shops etc.
- When the investor is granted the Turkish citizenship, their family members will obtain it as well.
Finally, if you want to get suitable options for safe investments and successful projects, you can get in touch with our experts at Al Sadeq Group to offer you all the investment and real estate services.
