Is It A Good Decision To Invest in A Property in Turkey?
The Turkish government encourages lucrative advantages to those interested in availing property ownership opportunities. Foreigners rarely get such incentives in any other country. Moreover, the geographical and economic aspects of this beautiful nation would also tempt you enough toward making investment in this country. Therefore, if you wish to buy a Property in Turkey, it is undoubtedly a great decision on your part. Here are more reasons to support your move.
Earn from immigrants
Turkey is one of the most rapidly developing nations of the world. It extends a bouquet of opportunities in assorted sectors where it gains a substantial hold. The country is also witnessing a heavy downpour of foreign nationals as well as native citizens who left their place long ago and do not have registered addresses. By July 2020, Turkey accepted more than 3.6 million immigrants. Renting or selling your property to these foreigners for residential or commercial purposes could help you earn significantly. Those willing to gain Turkish citizenship may also join Property Investment Program, which requires the immigrants to invest in a property in this country worth 250K USD or more.
A great residential abode
If you aspire to invest in a Property in Turkey to relocate, you just cannot ask for more. The European nation is home to the best of climate, nature and picturesque landscapes across its length and breadth. Besides, you can seek working opportunities in any of the flourishing business sectors in this country including technology, tourism, energy, automotive, agriculture, transportation, communication and more.
Owning a Property in Turkey to reside could be a good choice for your young one as well, since it offers high quality yet affordable education. The Turkish universities offer advanced academic facilities in their sprawling campuses. Moreover, students graduating from Turkish universities get recognition all over the world. The government gives all the children in Turkey, whether native or foreign nationals, the right to basic education through public schools. There are so many private schools providing education to students from Kindergarten (KG) to Secondary schools, in addition to top universities for higher studies. The immigrants can seek admission for their young and grown up children in these educational institutes.
Let’s have a quick look at some of the more advantages of owning a Property in Turkey that will prove your decision right.
- . You can apply for residence permit after fulfilling the requisite conditions
- . The law exempts foreign buyers from paying Value Added Tax incurred on their property.
- . You get complete ownership rights once you buy a property in this country.
- . Owning a Property in Turkey can fetch overwhelming annual rental income
- . The investment in real estate is cheaper as compared to other parts of Europe
- . The cost of living for foreigners is also cheaper due to the weak lira against foreign currency.
Some relevant concerns
Turkey is a preferred destination for the foreigners to invest in, with the sale of around 45,000 properties happening alone in 2019. Istanbul, Antalya , Bodrum , Fethiye , Bursa , izmir Ankara ,Trabzon remained the top-notch preferences of the investors during this year. Nevertheless, with such positive outcome, it is equally important to take note of some genuine concerns
- Renovating an old property could be a costly affair
- Lack of market research before buying Property in Turkey could be detrimental
- It is better to avoid financing your investment from Turkish banks, as they may demand high interest rates
Overall, having a Property in Turkey is always a great investment. Whether you do it for investment or for residential reasons, you will always gain significantly from your decision. To know more about investing in a Turkish property or to acquire the citizenship of this nation, you can always seek the help of Turkish Riviera Homes, a renowned real estate agent in Turkey. The organization deals in the sale, rent and resale of apartments, bungalows, hotels, lands, villas, penthouses, and commercial properties across various locations.