Significant Increase in Real Estate sales in Turkey

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2024-03-09

If we take a look at the recent statistics, we will find that the percentage of real estate purchases in Turkey is constantly increasing by foreign investors, especially Arabs who have formed a large Arab community in the country, but why all this demand for the real estate market? We will make sure to give you the full answer through this article.

Why real estate in Turkey and not others?

There is no doubt that foreign investors saw in Turkey advantages that they did not find in another country, whether in terms of procedures and transactions or in terms of promising investment opportunities, which attracted them to Turkey in addition to the following:

First - Obtaining one of the most powerful nationalities in the world:

Turkish citizenship for foreigners and Arabs is a dream they seek to achieve, and from the efforts of the Turkish state to encourage them to invest in real estate, it provided a golden opportunity to obtain Turkish citizenship by purchasing a property in it in the event that all the required conditions are met, such as that the financial value of the property has exceeded four hundred thousand dollars and not to sell it for three years, and also, as an investor, you are required to buy it from a Turkish seller or a Turkish real estate company, and it must be officially registered with the Land Registry.

Second - Enjoying the advantages of real estate residency in Turkey:

Many investors want to obtain this residency, specifically those who run business in Turkey and need to travel to it permanently and reside on its lands. To relieve some of their burdens, the Turkish state provided an opportunity to obtain it by owning a property in Turkey, and this does not require a specific area or even a location. Rather, the important thing is the price, as it should amount to 75,000 US dollars or more if it is located in developing cities such as Istanbul, for example, and its price must be a minimum of 50 thousand US dollars if it is in cheap cities.

Third - Enjoying the Advantage of Tax Reductions:

When you buy real estate in Turkey, you will benefit from the laws and legislation approved by the Turkish government to facilitate the process of owning apartments by foreigners. Where it allocated the taxes resulting from the purchase of real estate in it and abolished the reciprocity law, which stipulated that the purchase of real estate in Turkey was only allowed for foreigners whose country allows Turks to own it, and it also imposed on everyone the issuance of the tax number, which was found to regulate all purchases and sales in Turkey.

Fourth - Low prices in Turkey in general:

Turkey can be considered one of the countries where the cost of living is low if we want to compare it with the cost of living in European countries, and the evidence for the correctness of this statement is that if you find a job with an average salary that guarantees you a decent life, including paying rent for housing, food, drink, transportation, etc. and in general we find The cost of living is higher in tourist cities than in other cities that do not depend heavily on tourism for their income, including Istanbul, Bursa and Antalya.

Fifth - Turkey does not suffer from the problem of unemployment:

There are many job opportunities in Turkey in several different fields, provided knowledge of the Turkish language, but there are some jobs that do not need the Turkish language, such as working online or working in schools for Arab communities, and there are many people living in Turkey that do not know its language.

Sixth - Education Opportunities in Turkey:

Studying in Turkey is characterized by the distinguished educational level, which has attracted large numbers of students wishing to study and complete their education at all educational levels, whether primary, middle or higher schools, and even university studies in all its faculties, and this has helped some parents buy real estate in Turkey near schools and universities.

Seventh - Economic prosperity in the country:

The promising Turkish economy is a very important positive point in Turkey; The great economic progress that it enjoys at the present time attracts Arab and foreign investors significantly, especially in real estate investments, which have become increasingly growing every year compared to the previous year.

It should be noted that the Turkish economy is closely linked with the real estate sector in Turkey; if the first flourished, the second will develop.

Eighth - Turkey's position on the tourism level:

Turkey has a lot of beautiful natural landscapes, as most of its properties have sea views that attract a lot and charming landscapes that capture hearts, as well as the vast green spaces that extend on the outskirts of the Turkish state. Not only that, but Turkey has very ancient monuments, archaeological areas and historical landmarks. All these factors helped make Turkey a global tourist destination, and this matter was positively reflected on the real estate level and imposed on its development.

Ninth - The strategic location that Turkey possesses:

There is no doubt that Turkey enjoys a very important location as it forms a link between Europe and the countries of the Middle East, except that it contains more than one sea such as the Black, Mediterranean and Aegean Seas, as well as the famous Bosphorus Strait.

These factors made Turkey top the lists of the global economy because of what this strategic location enabled of the many commercial, industrial and exchange potentials led to the rise of the Turkish economy and its advancement to the highest international ranks, thus increasing the demand for the real estate market in Turkey.

Tips for foreigners before buying real estate in Turkey:

Before going into the real estate ownership process in Turkey, the foreign investor should review some important tips that protect him from falling into the traps of deceptive scammers. The most important of these tips are:

First - you have to make sure of the infrastructure of the property:

Knowing the durability of the apartment infrastructure is one of the most important tips that you should keep in mind, because this provides you with information about your future consumption and maintenance work that may occur, so you should review the quality of electrical and gas installations.

Second - Go to the Title deed Department before buying:

You should look at the title deed of the property owner in the title deed department and inquire about it from the competent employee to ensure that the data contained therein is correct and that the seller is its real owner.

Third - Issuance of the real estate appraisal document:

It is preferable that you extract it to protect yourself against price manipulation before buying a property in Turkey. The report deals with detailed information about the property with all the details related to it, such as its pricing factors, legal and financial affairs, as well as engineering.

Recently, we found an uncharacteristic demand by foreign investors for real estate in Turkey until the situation began to draw the world's attention, which forced the investors who did not own property in Turkey to rethink the matter and conduct a comprehensive research on this subject.