Why Investing in Real Estate in Turkey is a Prudent Choice

Turkey, with its captivating allure, has garnered immense interest among foreign real estate investors. The country's property market is now a focal point for individuals from around the world. Russians have particularly surged ahead as prominent buyers, leaving behind their main competitors from Iraq and Iran. Furthermore, recent times have seen an uptick in real estate purchases by citizens of major nations like China and the United States. Even European residents are drawn to the Turkish real estate landscape. While each foreign investor has their own unique reasons to favor Turkey, there are common factors that make Turkish property investments stand out.

Soaring Property Values

Property prices in Turkey have experienced a rapid upswing, positioning the country as a global leader in real estate value appreciation. In fact, the country earned the distinction of having the highest growth in property prices in the world in the year 2022. However, this trend doesn't deter foreign investors; on the contrary, the substantial rise in prices signifies that funds invested in property have the potential to be securely preserved and even lucratively amplified. Selling a property after a certain period can yield substantial profits. This makes property investment in Turkey an exceptionally advantageous and reliable option, surpassing the returns from traditional investments such as bank accounts. For foreign investors, particularly those from the Commonwealth of Independent States (CIS), this represents an appealing proposition, allowing them to both safeguard and enhance their wealth.

Favorable Tax Regime

Turkey offers an attractive tax environment for property acquisition and ownership. For instance, the purchase process involves a mere 4% fee for title deed registration (known as "TAPU"), calculated based on the cadastral value, which is typically lower than the market value. Subsequently, an annual property tax ranging from 0.1% to 0.3% of the property's value, also based on the cadastral value, is applicable.

Simplicity and Transparency in Transactions

Turkey has been welcoming foreign property buyers for numerous years, fine-tuning the mechanics of property transactions to perfection. It's possible to purchase property and complete all related paperwork without even setting foot in Turkey. Transactions are conducted with utmost transparency, avoiding complex schemes. Naturally, collaborating with a reputable agency that offers comprehensive legal support is paramount.

Residential Complexes: A Testament to Excellence

The world recognizes the quality of construction carried out by Turkish developers. Each residential complex is akin to a self-contained mini-city, complete with pools, playgrounds, Turkish baths, fitness centers, cinemas, and even spa salons. These complexes also provide secure parking facilities and robust security measures. The residential units themselves, whether apartments, villas, penthouses, or others, are delivered with impeccable finishing, well-designed layouts, and often partial installation of appliances and kitchen furnishings. Properties are ready for immediate occupancy, alleviating the need for additional renovation expenditures. This aspect significantly appeals to foreign investors, particularly from the CIS countries, where newly constructed properties often require additional renovations at the buyer's expense.

Urban and Regional Development

Even in smaller Turkish towns, well-maintained roads and comprehensive infrastructure, including schools, hospitals, kindergartens, and shops, are readily available. The authorities consistently undertake enhancement projects, ensuring that Turkey continues to evolve. The country's vibrant lifestyle caters to individuals of all ages.

Residency and Citizenship Benefits

Turkey stands among the select few countries where property ownership can lead to citizenship. For Russian citizens, it's the sole opportunity to attain citizenship of another country through real estate investment. Purchasing property valued at $400,000 or more entitles the buyer to apply for Turkish citizenship following the completion of the sale transaction. Additionally, property acquisition in Turkey also entitles investors to residency permits. Although certain restrictions on specific regions have been imposed, real estate professionals can guide investors through the nuances of the process.

Envisioning the Future

Turkey is a nation rapidly progressing on the global stage. The country boasts exceptional universities, a thriving healthcare sector, and ample opportunities for entrepreneurship. Life in Turkey offers comfort to individuals of all age groups, making it appealing to young and old alike. Furthermore, the country maintains a stable economy with consistent growth – a significant advantage for foreign investors who not only acquire residential and commercial properties but also invest in companies and industries.

Embark on Your Investment Journey with GB Invest

We extend an invitation to explore property investment opportunities with GB Invest. Make a lucrative contribution to your future and that of your children. Our agency is dedicated to making your property investment experience seamless, secure, and ultimately rewarding.