Golden Opportunities in the Real Estate Market in Turkey

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2024-04-01

Buying real estate in Turkey in light of the widespread economic crises is a golden opportunity for different nationalities, especially citizens of countries whose country does not have a stable economic base

And our article today talks about the various reasons that increase the importance of the real estate market in Turkey the reasons that make real estate investment within it safe and secure.

Golden opportunity for foreigners in the real estate market in Turkey:

Most countries in the world have been affected by the disruption of the global economy and even those that are not affected are in the danger zone, and more so, those countries that do not have a strong economy and industrial and commercial capabilities and need the help of other countries and therefore their currency is also threatened and this is reflected negatively on various types of investments

The most appropriate idea for investors to save their capital is to go to solid foundations, the best of which is real estate in Turkey.The real estate market in Turkey has managed to maintain its stability in light of the global deterioration and in light of the effects of the Corona pandemic that shook the global economy

These properties have not lost their importance in real estate investment. On the contrary, they have been able to return strongly to occupy the first ranks in the world as the most profitable real estate investment

It will be a golden opportunity for foreign investors to save their money in Turkish real estate, whose prices are rising, and this guarantees them a doubling of their money, in addition to their opportunity to benefit from the many advantages granted by the Turkish government to foreigners to encourage foreign real estate investment in its country

Why is the real estate market in Turkey less affected?

Turkey in its various markets differs more than the real estate market from various global markets in the methods and laws of buying and selling

We find that the real estate investor in Turkey isolated himself from the fluctuations of the dollar to remain in the safety zone, and not each of them cared to raise the price of his property in a crazy way for fear of the depreciation of his country's currency against the dollar exchange rate significantly in the future which leads to creating a large gap between the seller and the buyer or between the property owner and the tenant, but rather a tendency to increase prices gradually so that it does not significantly affect the consumer, relying on the faster circulation of capital so that the real estate market does not suffer from stagnation

At the same time, the real estate market in Turkey witnessed a significant expansion through the spread of urbanization, as construction companies rushed to construct residential complexes at prices commensurate with different budgets, so that every time they sell properties, they could rotate the capital by building others and benefit from the profits

In this case, global inflation was a catalyst in the real estate market, because the increase in the prices of materials and, consequently, the rise in real estate prices meant a doubling of profits

As a result, the real estate market in Turkey was able to maintain its stability and achieve great profits without the consumer, such as the tenant, being significantly affected

Reasons to encourage foreigners to buy real estate in Turkey:

There are many reasons for foreigners to go to the real estate market in Turkey، and we mention the most important of them:

Turkish government encouragement:

The Turkish government has provided many facilities to foreign real estate investors and given them many advantages to encourage investment and seek to increase the activity of the real estate market in Turkey

It amended the decision to grant Turkish citizenship in exchange for real estate ownership in Turkey to reduce the value of the required property from one million dollars to 400 thousand dollars n addition to granting real estate residency to those who buy a residential property worth 75 thousand dollars and many other encouraging laws such as reducing the value of taxes on real estate to equal Between the foreigner and the Turkish citizen in the tax cost

With the laws, it attracted the attention of foreign investors who found buying real estate in Turkey a golden opportunity to obtain Turkish citizenship and thus the Turkish passport and benefit from its many advantages

Real estate prices in Turkey:

Real estate prices in Turkeyare very low compared to real estate prices in various other European countries, and despite their low prices, they are characterized by high quality and high-end designs،

This is what pushed foreign investors towards the real estate market in Turkey

Change in the value of the lira

As we mentioned earlier, investors in the real estate market in Turkey face a decline in their currency against the dollar exchange rate by rotating capital more than their tendency to raise real estate prices so that the increase in prices remains within reasonable limits

Therefore, the foreign investor found in the devaluation of the Turkish lira against the dollar a golden opportunity to buy real estate in Turkey, whose price is paid according to Turkish law in Turkish lira and not in dollars, and therefore he benefits from the exchange rate difference

The future of real estate in Turkey:

It is clear that real estate in Turkey is awaiting a prosperous future, as its prices have tended to rise significantly due to the increase in demand for it and this means that the real estate investor who is rushing to own a property in Turkey will be waiting for greater profits in the future, which also multiply continuously

Turkish economy:

Turkey has been distinguished by its distinguished economy at the global level. It has been able to make many leaps forward to rank among the best and strongest global economies and this means that owning in Turkey means staying in the safety zone and steadfastness in the face of various economic crises.

Tourism in Turkey:

Turkey is the first country in tourism as it has all the ingredients necessary to stimulate the movement of tourism and to attract tourists such as the beauty of nature, the diversity of terrain and the mild climate, in addition to many historical and archaeological monuments that formed an element of attraction for tourists

Thus, real estate in Turkey is very popular, especially those close to tourist areas, such as tourist villas in coastal areas, for example, which achieve huge profits annually, especially in the high season.

Huge projects:

Turkey has built many huge projects such as Istanbul Third Airport, Istanbul Water Canal and many important industrial projects, which are considered one of the most important projects in the world, which will help revitalize and flourish various types of investment and secure many job opportunities for workers and employees from different countries and therefore investors of various types and many of those wishing to work will go to Turkey, the most vibrant country that will witness a significant increase in population that will lead to an increase in the demand for real estate and increase its importance in real estate investment

Therefore, the majority of real estate investors will not miss the opportunity to join the most important and profitable investment market, which is the real estate market in Turkey.

Real estate under construction a promising opportunity for foreign investors

The properties that are still under construction are considered a golden opportunity for those who wish to enter the real estate investment market in Turkeyand do not have sufficient capital to start their investment journey، so they have the opportunity to pay in installments until the construction company completes the construction completely and therefore it is within a property in the future at the price that was previously set after the completion of his property, he will find that he is facing large and double profits on the first capital he put in the property, and those profits may exceed his expectations due to the continuous rise in real estate prices in Turkey.

In general, To sum up, buying a property in Turkey is a golden opportunity to start a life full of benefits and successful investments.