Owning a property in Turkey, and investing in real estate is one of the most promising investments, and this sector has recorded a resounding success and has helped attract thousands of foreign investors. In this article we will answer the most frequently asked question: Is the investment in Turkish real estate an opportunity? What are the best states for real estate investment in Turkey?
Anadolu Agency reported news that the demand for real estate in most countries of the world was in great decline during the first half of 2022, while the demand in Turkey was very large and sales there achieved record growth if this shows something it shows the strength of the Turkish economy, which succeeded in attracting investors from all over the world to invest in Turkey.
According to the 2023 vision and Turkey’s strong rise to the ladder of the world’s strongest economies and the G20 countries.
This rise will affect Turkey’s neghbouring countries, as it will raise the economies of some countries and bring down others, and it is certain that when the scales turn, investors in Turkey will be among those whose investments have reaped abundant profits.
And if we talk about real estate investment, in particular, its future is very promising, and the prices in it will double so that it will give real estate owners and investors great profits and double the capital, and this will open up wider horizons for them in terms of investment and work in Turkey, which in turn will create new job opportunities.
In the real estate sector in Turkey, which cities were the most in-demand?
Of course, without a competitor, Istanbul ranked first in terms of demand for real estate, as it is Turkey’s economic capital. Moreover, Istanbul in all its regions is undoubtedly an investment city.
For those wishing to buy a property in Istanbul, the investment returns that you will get from buying a property in a normal area of Istanbul may range from a central area of greater investment importance, but despite this its investment opportunities will remain much greater than its counterparts, followed by the political capital of Turkey, which is Ankara, then Izmir and then Antalya.
The reason why most investors choose Istanbul is as follows:
1-Because of the cultural and urban transformation that Istanbul is witnessing.
2-Because of its strong infrastructure and mega projects, such as the Istanbul Canal project and the new Istanbul Airport.
3-Satisfying returns provided by Istanbul projects.
4- Istanbul mega projects with its luxurious architecture and modern technologies.
Real estate is the best safe financial investment portfolio:
Real estate investment is a typical investment, especially when it is adopted as a long-term investment. When you choose a good property and manage it wisely, you can earn many times your investment. Real estate investment cannot be a losing investment, even in the worst economic conditions, because real estate, even if it got sick, it does not die.
What are the provisions for real estate investment in Turkey?
In Turkey, when deciding to buy a property there are some provisions that the investor must abide by, but those provisions are not difficult or abundant. Among the things that should be paid attention to:
- Verify whether the investor’s nationality is one of the nationalities that are allowed to own property in Turkey. In Turkey, citizens of 183 countries are allowed to own property except for 5 countries, which are:
Syrian nationality, Armenian nationality, North Korean nationality, Cuban nationality, and Nigerian nationality.
- The age of the person who will register the property in his name or buy the property should be over 18 years old.
- One of the rules is not to purchase in the military and security areas. In the event of a breach of this condition, security approval must be obtained from the competent authorities.
- No more than 30 hectares of land must be purchased if the real estate is divided into several parts If the real estate is in one controlled area, the real estate area must not exceed 10% of the area of the place where it is located.
As for the nationalities that were forbidden to own property in Turkey, they have two alternative solutions:
Either establish a company in Turkey by paying its taxes and fees and registering the property in the name of the company, and this is an easy option for merchants who own businesses, as they have established their commercial company previously.
Or registering the property in the name of a relative who has a different nationality, and a mortgage sign can be placed on his property to guarantee his legal and financial rights. In general, these methods are not recommended for not knowing their consequences in the future and to avoid falling into undesirable dilemmas and complications.
What are the reasons that make owning a property in Turkey encouraging?
1- One of the most important of these reasons is that a real estate investment of $ 400,000 enables its owner to obtain Turkish citizenship if he/she fulfils the previously mentioned conditions in this article, and the basic condition, in this case, is a pledge to keep the property for 3 years. Among the advantages of obtaining Turkish citizenship:
1-The speed of obtaining it (from 3 to 6 months) – applicants can include the wife and children under the age of 18 – knowledge of the Turkish language is not required to obtain citizenship – ease of travel to the United States and Schengen countries with a Turkish passport – the possibility of travelling to 110 countries without a visa through Turkish passport.
2- Turkey’s important geographical location between the east and the west of the world made it attract many foreign investors.
3- The solid and strong economy of Turkey made many investors want to invest in it.
4- The nature of the competitive market in the real estate sector in Turkey.
5- Obtaining real estate residency in the event of an investment of $75,000 in major cities of Turkey, and in the rest of the cities, an investment of $50,000 will suffice to obtain real estate residency.
What are the types of real estate and property in Turkey?
Commercial real estate: It is the real estate in which the commercial activity takes place, such as restaurants, offices, companies, hotels, schools, recreational places, and other commercial activities.
Residential real estate: These are real estate designated for housing or summer accommodation, such as apartments in complexes, penthouses, lofts, villas, duplexes and triplexes, and others.
Industrial real estate: such as factories or warehouses.
Agricultural real estate: where the agricultural activity or livestock and poultry grazing takes place.
For more information and details, do not hesitate to contact OG Real Estate Investment Company to answer all your inquiries. OG Real Estate Investment Company in Turkey offers you its advisory services and other services such as airport reception, to help you get the best real estate option with the best return on investment. We have a professional team ready to answer all your inquiries and provide advice free of charge and course inform you of the potential return on investment for any property you wish to invest in. And upon your choice, we will be with you during the legal procedures following the stage of sale, such as extracting the Tapu and registering it through the webtapu. Do not hesitate to contact us through the available means of communication.