Expectations regarding real estate investment in Turkey in 2023
In early 2023, foreign investors began to ask questions about expectations regarding real estate investment in Turkey, especially after Turkey witnessed the recent earthquake, foreign investors interested in the Turkish real estate sector became concerned about starting their real estate investment in the real estate market on the territory of the Turkish Republic, so through this article we tried to shed light on the expectations of economic analysts and experts interested in Turkish real estate and all you have to do is continue reading to learn more details that may help you when starting your real estate investment.
Table of Contents
Why is real estate investment in Turkey a right decision?
Real estate investment in the Turkish real estate sector is a right decision because of the advantages that the Turkish government is working to grant to investors wishing to conclude profitable investment deals in the various types of real estate that characterize Turkey and the following are the most prominent of these features that have attracted business leaders from around the world:
- Ease of ownership procedures in Turkey, especially for foreign investors.
- Benefit from the real estate residence for the owner and his family members under 18 years old.
- Real estate investment in Turkey is characterized by the diversity of real estate projects and attractive offers in terms of prices, locations and views.
- Turkey provides a wonderful mix between "the modernity of the West and the originality of the East", where you can buy an apartment and settle with your family as if you were in your country of origin.
- Turkey offers a decent life with high quality and low cost.
- The low real estate taxes in Turkey do not exceed, combined with the various fees, 7% of the value of the property in the event that the value-added tax is equal to 1%.
Factors that distinguish real estate investment in Turkey 2023
In recent years, the Turkish real estate market has witnessed the influx of many senior businessmen and foreign investors who are looking to build their future and settle on the territory of the Republic of Turkey, for several reasons, including:
- The cost of living and real estate prices in Turkeyare relatively low, which makes it an attractive and profitable investment destination.
- Real estate investment in Turkey is a cost-effective and important opportunity to increase capital and investment revenues
- The possibility of obtaining Turkish citizenship and a Turkish passport, and enjoying ease of travel and movement, and entry to more than 100 countries without a visa, through the purchase of real estate or apartments according to certain conditions.
- The strategic location at the crossroads of Europe and Asia makes it an important and strategic center for business and tourism, which provides an important source of sale or rent for foreign and Arab investors.
- The real estate sector was distinguished due to the presence of a comprehensive and developed infrastructure in various sectors, as the Turkish government made large and various investments in infrastructure development, including transportation, tourism, communications, and others.
- A thriving economy that has achieved tremendous growth, as Turkey is characterized by a large population associated with large numbers of expatriates, tourists and residents, which has led to a great demand for all types of residential and commercial real estate.
- The Turkish government has encouraged investors to invest in real estate in Turkey by giving them tax incentives.
- The Turkish real estate market is characterized by diversity as it includes various types of real estate, such as: villas, duplex apartments, triplex apartments, studio apartments and other types that attract investors.
- Turkey was distinguished for providing local and international schools, universities and educational institutions in case you want to buy a property and settle on the territory of the Republic of Turkey.
- The country has many medical facilities, hospitals, pharmacies, and local clinics that provide the best services.
Take advantage of the high real estate prices in Turkey
You can take advantage of the opportunity of high real estate prices on the territory of the Republic of Turkey through several forms or clear investment ideas as follows:
- Buying an apartment overlooking the tourist places and renting it during the tourist seasons and reaping the returns and huge financial profits, because rental prices rise accordingly.
- You can buy an apartment at a reasonable price and obtain real estate residence in Turkey, and then enjoy the rights of a Turkish citizen.
- Real estate investment in the Turkish real estate sector by buying a property and then selling it after several years and benefiting from the price difference.
- Buying an apartment at a price commensurate with the conditions of nationality, and then submitting an application to obtain Turkish citizenship and the Turkish passport, which ranked globally among the most powerful passports in the world.
Real estate investment expectations in Turkey in 2023
Economic analysts and experts in the real estate market expect a bright future for the market in Turkey. In addition, compared to previous years, Turkey has achieved record-high statistics related to the real estate sector every year and the increasing demand for real estate investment in the lands of the Republic of Turkey, economic stability, and the low inflation rate in the country increases the strength of these expectations, which attracts more investments in this distinguished sector.
Some common questions about real estate investment in Turkey
Is it possible to obtain Turkish citizenship by buying a property?
Certainly, Turkish citizenship can be obtained by purchasing a property in Turkey worth 400,000 US dollars and pledging not to sell or dispose of it for a period of 3 years according to the naturalization laws in Turkey.
Did real estate prices increase in Turkey in 2023?
Real estate prices witnessed a significant increase in early 2023, due to the strength of the Turkish economy and the success of the advantages of the real estate investment sector in Turkey.
What are the reasons for the high real estate prices in Turkey?
The reasons for the rise in real estate prices in Turkey are summarized in the strength of the real estate investment sector in Turkey, and the large and huge numbers of foreign investors and capital, especially Arabs, who are interested in this market.
Are real estate prices in Turkey suitable for starting an investment?
There is no doubt that real estate prices in Turkey are suitable for starting a successful real estate investment compared to real estate prices in other countries.
The idea of buying real estate in Turkeyhas become popular among those interested in obtaining an ideal opportunity for housing or investment and take advantage of the appropriate real estate investment options in Istanbul to obtain a high return by communicating with our real estate consultants.
Do not forget that investing in real estate in Turkeyis only a way to gain Turkish citizenship or real estate residencepermit that allows you to stay in the country legally and then acquire many of the privileges that a Turkish citizen gets.
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