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The Real Estate Sector of Turkey
Since 2005, Turkey has received more than $203 billion in investment from foreign investors through Foreign Direct Investment (FDI). One very popular sector for investment among foreign people is certainly the real estate sector in Turkey. Just in 2019, almost 1.35 million houses are sold to foreigners in Turkey, 14.7% more than the previous year.[1]
Reasons Behind These Incentives’ Growth
This incentive growth is not all of a sudden. In fact, the Turkish real estate market is a favorite point of investment for foreigners since 2010. There are certainly many reasons that promoted the growth in the real estate sector in Turkey. But what are the factors behind this situation?
High Return on Investment (H-ROI)
Over the past decade, the real estate sector in Turkey has seen very steady growth with very high returns on investment. This steady high return attracted more investment towards this sector from all over the world.
Easily Obtained Turkish Citizenship
Any foreigner who buys property in Turkey worth more than 250,000 USD gets instant citizenship with a bunch of more facilities. This also helps all the foreigners to live in Turkey without any judicial and legal issues.
Favorable Investment Situation
Turkey provides very favorable investment opportunities to foreign investors. Turkey offers large emerging markets. Turkey offers low operating costs and a highly efficient young workforce with great growth potential. All these factors make Turkey one most favorable real estate markets for foreigners.
Favorable Investment Laws
Turkey offers the most favorable laws for foreign investors through various different laws and policies. Turkey’s government gave an effort to provide the most comfortable investment environment for foreign investors and successfully did it. There are many such benefits for foreign investors. As an example, there is no double taxation system; as a taxpayer, you are similarly treated like a Turkish citizen. Most of the laws in Turkey provide full protection to foreign investors.
Social and Political Stability
Turkey is a favorite real estate market also because unlike other European countries, Turkey is now a stable country both socially and politically.
Benefits of Investing in the Real Estate Market in Turkey
Actually, buying properties in any form is always a winning decision. There are many benefits of investing in the real estate sector of Turkey, that’s why foreign investors prefer this country.
Great Deal with Great Value
Turkey’s real estate market offers great lands, buildings, different kinds of properties, etc., in a very inexpensive manner. The price range of the real estate market in Turkey is comparatively cheaper than any other country in Europe or even the United States. The low cost of living helps foreign investors to settle down easily.
Full Ownership
Turkey allows foreign investors full ownership of any real estate investment. This gives more freedom and flexibility to the investors in their investments.
All the above reasons play a role in Turkey for incentives to drive into the real estate market. Therefore, even after the COVID-19 pandemic, foreign investors are relying on Turkey’s real estate sector. There are many lucrative projects and winning offers for foreign investors to know that can be discussed on a personal level. So, if you want to invest in the real estate sector, we are just a call away.
Also, our experienced law firm in Turkey can handle all of your legal affairs.
References
- Wires, D. S. W. (2020, January 15). Housing sales number 1.35M in 2019, 45,500 sold to foreigners. Daily Sabah. <https://www.dailysabah.com/real-estate/2020/01/15/housing-sales-recorded-135m-in-2019-45500-bought-by-foreigners>
