What You Should Know Before Making the Property in Turkey?
Should I invest in Turkey? Is Turkey a good investment? – With its geopolitical location, natural and cultural treasures, transportation facilities, newly-built bridges, airports, thriving tourism industry, lively trade sector, nightlife, and event and congress tourism activities, Turkey attracts foreign investors who think “Should I invest in Turkey?” It is also a powerful country in terms of a steady economy.
Turkey will continue to provide added value and new opportunities to investors due to its growing economy, megaprojects developed in the real estate industry, and sectoral dynamics.
There are direct flights from Istanbul to 400 destinations, and one can arrive at 22 different capitals within only two hours.
47.3% of the 80.8 million population in Turkey is below 30 years of age.
The country is expected to be among the largest 15 economies in the world by 2050.
Should I invest in Turkey? Is Turkey a good investment? – Additionally, the citizenship acquirement by the real estate investment program is a promising development that will draw foreign investors into the country. It is now possible for an international investor to obtain Turkish citizenship by purchasing an immovable worth a minimum of $250,000. This regulation is also valid for investors who invest a minimum of $500,000, deposit $500,000 in a bank operating in Turkey, or employing at least 50 Turkish citizens. Those who are trying to find an answer to the question “Should I invest in Turkey?” can consider these options.
Specify your Requirements
Turkey is expected to see an increase of 8% in housing prices with Antalya taking the lead. The housing prices rose up by 27% in Antalya, 26% in İzmir, 23% in Bursa, and 9% in Ankara.
Should I invest in Turkey? Is Turkey a good investment? – There are many factors to consider when specifying your requirements, such as period of redemption, transportation facilities, and proximity to the city center.
You should also evaluate other elements, including if the square meter unit prices are far above the purchasing power of the consumer, the number of the product stocks in the same segment, and the demand rate in the relevant area.
Which Turkish province will Suit you and your Family?
You might be thinking “Should I invest in Turkey, and in which province?” The best provinces in Turkey differ from others in terms of cultural and economic advantages, wellbeing, transportation convenience, and the variety of real estate and other infrastructure projects. Foreign investors mostly prefer Istanbul, İzmir, Antalya, Bursa, and Ankara.
Should I invest in Turkey? Is Turkey a good investment? – 10% of the population in the Alanya district in Antalya, one of the cities where foreign investors choose to live in, is foreigners from 82 different countries. Alanya was a port city in the Ottoman era, capital in the Seljuks era, and a tourism center in the Republic era -and the increasing number of foreigners now brings new regulations in the municipality services. Alanya Foreigners Committee closely follows the demands and problems of the foreigners.
Despite the Coronavirus outbreak, the house sales made to foreigners increased by 26.1% in September. In the January-September period, there were 17,091 houses sold to foreigners in Istanbul and Antalya, the most popular cities among foreigners, which makes up more than the total sales countrywide with a rate of 65%.
Rental Returns and Capital Growth
Rental income is perhaps the most important factor for real estate investors who think “Should I invest in Turkey?” Many national and international foreigners double the real estate profit with the rental income they receive.
Should I invest in Turkey? Is Turkey a good investment? – The attention-grabbing point is cities that bring a higher rental income don’t have vast areas considered as residential districts. In this sense, newer and modern housing options that are lower in number promise high rental income.
Even though rental income is a more remarkable point, the return of investment period is also a determining factor. The period of redemption, in other words, the return of real estate investment is among the most important factors that determine the value of properties.
Getting a Residence Permit
Should I invest in Turkey? Is Turkey a good investment? – Foreigners should obtain a residence permit to stay in Turkey longer than 90 days. Residence permits are issued by the Directorate General of Migration Management under the Ministry of Internal Affairs. The Directorate General of Migration Management has offices in every province. The applications are made in Turkey. The applications for residence permit extension are made on the electronic systems provided by the Immigration Authority. After the online applications are completed, they should be submitted by registered and reply paid letters or cargos. Foreigners are allowed for 5 business days for this process.
The Residence Permit ID Card fee is ₺125.
Choosing the Right Agent
If the question “Should I invest in Turkey?” you would benefit from the guidance of professional agencies. For a real estate investment, the first thing you should do is to decide the type of property you will buy. Is it a house, a store, or land? Another thing you should decide before buying process is the area. You should consider areas that will develop in the future.
Should I invest in Turkey? Is Turkey a good investment? – If you are planning to invest in a house, make sure it is close to transportation hubs or in a central area. Such houses will bring more premium and a higher income.
The golden rule in investment is to win when buying. Investment experts remind you of this rule constantly. The highly knowledgeable real estate website realistaturkey.com helps you in issues like investing, buying, selling, or renting, and ensures you find the right house.
Property Purchasing Expenses
Should I invest in Turkey? Is Turkey a good investment? – Real property valuation report (appraisal report) fee, title deed fee, real estate commission fee, translator and power of attorney fee, subscriptions, earthquake insurance (DASK), and annual property tax are among the issues you should be well informed about. Realista provides free legal guidance!
Giving yourself Options
Besides conventional real estate investments such as houses and malls, alternative investment areas like dorms, eldercare centers, and data centers will be popular in 2021 because these investment types are less affected by economic fluctuations as they arise from demographical needs. Potential investors who are trying to answer “Should I invest in turkey?” should considere these alternatives.
You Can Negotiate
Should I invest in Turkey? Is Turkey a good investment? – You should certainly work with a real estate office or representative. Real estate negotiation is a different concept than what you may know.
Act in accordance with reports and analyses rather than your emotions.
It would be better to decide on a few alternatives that meet your needs for your evaluation. Even an inflexible seller will want to reconsider when faced with such a situation. Don’t take this as bluffing -to make the right decision, there should be more than one alternative that fits your dreams perfectly. If you are sure about saying yes to “Should I invest in Turkey?” then remember you can lower the price by negotiating.
Go on Inspection Tours
Should I invest in Turkey? Is Turkey a good investment? – Nothing can answer your question “Should I invest in Turkey?” better than seeing the properties yourself. We meet investors who want to buy property in Turkey at the airport or hotels and offer all the investment options with our experienced team.
Reserve the Property
Should I invest in Turkey? Is Turkey a good investment? – A deposit agreement is a document that symbolizes the given deposit. Once the contract is signed, the seller can’t sell the flat to anyone as long as the contract is valid. In a sense, buyers reserve the flat for them with these contracts. The date is also very important in the deposit agreement. The remaining payment must be made within the period range specified in the deposit agreement. If the remaining payment is not paid to the seller, the deposit agreement is canceled and the buyers can’t get their deposit back.