We understand the draw of buying property in Turkey for foreigners. Owning a second home in Turkey has many advantages. Therefore, foreign house sales are at an all-time high in some areas. Turkey’s official statistics show that about 40,000 to 50,000 new homes are built every year. The nationalities buying Turkish real estate are Iraqis, Iranians, Russians, Germans, and Brits.
What’s Turkey’s Secret To Attracting Foreigners?
- Turkish Daily Sabah Announced That; A Survey, Conducted By U.S.-Based International Real Estate Investment Company Remote Ventures In 2020 Listed The 25 Most Advantageous Real Estate Investment Markets; Turkey Ranked 14Th Among 200 Countries, According To:
1- Reasonable Prices
- Turkish real estate prices are still very competitive compared to other countries, such as (Spain, Portugal, and Greece).
2- Very Profitable For Investors
- Despite the rapid increase in urbanization in Turkey, the demand for real estate exceeds the supply, allowing investors to generate high returns by selling and renting properties. The Turkish lira lost 24.82% against the dollar and 34.53% against the euro.
3- Income / Property Tax
- In Turkey, residents pay taxes on their worldwide incomes, while non-residents only pay taxes on Turkish-sourced gains. Turkey’s average income tax rate is 34%.
4- Modern Construction Technology
- Real estate developers in Turkey are building with modern architecture and using advanced home technology. In Istanbul, current areas like Başakşehir have Smart homes, fitness centers, swimming pools, and barbecue areas.
5- Turkish Citizenship
- If you buy real estate in Turkey for more than 250,000$, you can get Turkish Citizenship (buyer and family).
6- Tourism Growth
- The Tourism Industry In Turkey Generated Usd, 29.5 Billion In Total Turnover In 2018, Placing Turkey As The 6Th Most Popular Destination In The World. Forbes Says Turkey Is In The Top 10 Of The World’s Most Visited Places.
7-Three Seas Surround Turkey
- The Black Sea, The Mediterranean Sea, And The Aegean Sea Considered To Be The Bridge Between East A turkey Has One Of The Most Attractive Climates In The World. It Is The Most Attractive Destinations In The World.
8- Multicultural Life
- It’s a great chance to meet new people and make new friends, and it is a mix of East and West cultures. The place has people from many different religious backgrounds, races, colors, and cultures.
9- Education In Turkey
- Turkish universities offer qualified higher education; Turkish degrees are recognized worldwide. English-taught programs are increasing. Also, Turkey is one of the most successful countries in the exchange programs under Erasmus and other successful exchange programs like Mevlana and Farabi.
10- Medicine In Turkey
- Turkey has become one of the top five countries for health tourism. Its public, and private hospitals have world-class medical equipment.
What Is The Best Time For Selling or Buying Property In Turkey?
- You can buy and sell a property in Turkey during the Spring season (in March and April). Because families move abroad in the summer after the academic year ends, you can buy real estate for a very reasonable price in that period. The housing market tends to take a big leap only during the summer months in May, June, July, and August. If you want to purchase a property at a lower price, the winter season is the best time – between December and February, the demand for real estate declines, and prices drop.
- As a result, Turkey is an excellent place to invest. It offers all the features that foreigners look for in an attractive market. As a first mover, it has outperformed similar countries in attracting foreign investors and offering them great benefits at lower costs. Furthermore, it has modern urbanization, a multicultural society, low living costs, natural beauty, and historical and religious sites.
