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Advantages of Buying Property in Turkey

As a country that is situated between the West and East, along with other elements like cultural diversity and breathtaking landscapes Turkey is now one of the most sought-after locations for investment in real estate. Foreign and local investors are interested in purchasing properties in Turkey. The continuously-increasing house sales number proved well this situation. According to Turkish statistic institute data the amount of sales for real estate in Turkey has been increasing by 25.1 percent in January 2022 when compared to the same month in the prior year.

A property purchase in Turkey attracted the attention of buyers around the world even in dire situations like the Covid-19 pandemic. Statistics show that sales of homes in Turkey reached 70,587 in January 2021.

Here’s a listing of the best benefits for foreign buyers purchasing real estate Turkey.

Purchase of properties in Turkey brought foreign investors a lot of income, whether financial or to live and relocate to Turkey.

Turkish Citizenship through real property investment

The Turkish government offers an attractive possibility for foreign investors acquire an Turkish passport. purchasing properties in Turkey is among the numerous ways to gain Turkish citizenship through investment programs.

Foreigners who buy one or more properties in Turkey with a value of at minimum 250,000 USD or the equivalent gain the right to request Turkish citizenship for their own as well as the family members of their dependents. After obtaining the title deed and a Turkish passport is issued within eight months of the submission of the application.

Residence Permit

Foreigners who have purchased the property of a home or any other property in Turkey are entitled to apply for a Residence permit along with their family members in Turkey. The permit is valid for one-year period that is renewable for so long as they retain the property in the owner’s possession. property. The permit to reside does not permit its holders working in Turkey. It does grant youngsters under the age of 18 to be enrolled in all Turkish education facilities in the public sector. A residence permit obtained through real estate does not need a minimum amount of purchase.

High Return on investment

Making investments in the real property market in Turkey produces a substantial return and makes Turkey an attractive investment for international investors. It is estimated that Turkey will reach 1 billion dollars in real estate investments in Turkey in 2023.

Incentives offered by the government

Apart from in addition to the Turkish Citizenship by Investment Program in addition, in addition, the Turkish government has also set up a variety of incentives to encourage foreigners make investments in Turkey. The majority of these incentives are in the real estate investment industry that accounts for 57% of Foreign Direct Investment.

Turkis government provides foreign investors who purchase properties in Turkey with tax exemption as well as other tax cuts like duty stamps.
Property Ownership Full

The properties within Turkey are freehold, regardless of nationality in contrast to other nations. Foreigners who purchase homes in Turkey are able to keep their property for the duration of their lives. If the owner’s death the property’s ownership rights will pass to its children in accordance with Turkish laws on inheritance.

Luxury Properties with Reasonable Price

Comparatively against European countries and in comparison to European countries and the United States, properties prices in Turkey are not as expensive. The latest construction industry’s technological innovations have opened up an array of options for the market, which are backed by excellent standards, which has resulted in lower costs.

Buyers who earn foreign currency can purchase luxury homes at a reasonable cost. This is why Turkey has emerged as a desirable real estate investment location around the world.

Turkey can be considered a Safe Country For Buying Property

Turkey is a very secure country, especially in the larger cities such as Istanbul, Ankara, and Izmir. In comparison to other Western nations, Turkey has an extremely low rate of crime, making it a secure destination for purchasing properties. According to the latest data from Numbeo, Turkey had a crime score of 39.62 in 2022, and an extremely high safety index of 60.3. These are the rates that put Turkey was ranked 93rd in the highest index of crime while it was ranked 67th in the highest crime index. United States and the United Kingdom were placed 57th and 68th respectively.