Owning a second home abroad is no longer a luxury but a real benefit, especially in a wonderful country like Turkey. With masses of countries allowing foreigners to purchase and live overseas, potential home owners often want to know good reasons for buying property in Turkey.
If you are wondering why the real estate market in Turkey attracts many foreigners, Whether for investment or personal housing. prepare a cup of coffee, and get ready to have the answers. We will give you the most important reasons which are driving the foreign Investors towards real estate investment in Turkey.
in the past decade, the Turkish real estate industry has extremely grown, and foreigners have played a major role in its growth. But why Turkish real estate market?
1- Minimal Property Rates
The cost of buying property in Turkey is very cheap compared to many European countries. For example, buying a home in London may cost you eight times the price of a property in Turkey.
Choose your property far away from the busiest city in Turkey, and costs will be considerably less. property price in Antalya starts at 30.000 USD, and this gives the mass potential for worthwhile long-term investment. With the present conversion rate of the Turkish Lira versus foreign currencies. The present time is the wisest for real estate investment in Turkey.
Also, there are a lot of properties in and around Istanbul that are being built continuously at a relatively low price and considered as strong sources of investment, it requires help from a real estate expert who can direct you to discover the best-rewarding opportunities.
However, We will publish an article soon about the mistakes you should avoid before buying a property in Turkey. Also, the most important tips on buying a property in Istanbul.
2- A Diverse Portfolio
3- An Easy Purchasing Process
4- Low Cost of Living
Undoubtedly, The average cost of living in turkey is half that of the USA and Britain. Which clarifies why many foreign property buyers choose to live in Turkey throughout the whole year. The last ten years have seen upgrades in the infrastructure as great roads, shopping malls, airports, and eating industries opened up. One of the greatest lures is that yearly running expenses for a property are incredibly low, especially for electric, water, internet satellite TV and Internet.
Like anywhere else around the world, living in the main city incurs a higher cost. the most costly place to live in Turkey is Istanbul, a busy hub of finance, business, tourism, and economics.
Even so, it remains a cheap and convenient place to live compared to other countries, taking into account the quality of life. Turkey can be a surprisingly cheap country to live in.
Visit NUMBO page to learn in details the cost of living in Turkey.
5- Structured Payment Terms
If you are looking for buying an off-plan or recently constructed home, you can tap into the organized installments plans ranging from 6 to 60 months. That means in some cases, the installment period may be up to five years. But you can move in and sign for the title deeds before. For first time buyers on a spending limit, this is also a great motivation because there is 0% interest to pay. However, you can find a suitable property for sale that comes with structured payment plans offered by many real estate companies in Turkey.
6- Accessible Country
Turkey is a country that occupies a unique geographic location, lying partly in Asia and partly in Europe. Whether you decided to come by air, sea or land, Turkey has a great transportation network that makes it easy getting to or out. Billions have been invested in airports around the country, and international airlines have flight schedules all year round.
7- High Investment Profile
It’s well-known that Turkey has become a global hub in terms of investment. Since 2005, many foreigners investors come to Turkey every year entered the Turkish real estate market as an important sector in economic growth.
Turkey offers considerable investment opportunities with increasing new apartments and houses in the real estate sector.
From my personal experience in the field of establishing and developing business, I have met many foreign investors from different countries of Europe and the Arab region who came to buy a property in Turkey, such as London, France, Germany, Russia, UAE, Qatar, and Saudi Arabia, for example. and they received profitable feedback in the short-term.
More information: Is 2022 the year to invest in the Turkish Housing Market?
8- Turkish Citizenship by Real Estate Investment
The decision was issued by the Turkish government on 19.09.2018 and mentioned in the Turkish Gazette, Turkish citizenship will be granted directly to foreigners who buy ready or under construction properties in Turkey for an amount of not less than 250.000 USD.
Visit our page Turkish citizenship through Buying Property in Turkey for more detailed information.