LOW COST AND INVESTMENT ATTRACTIVENESS
For many years now, Turkey has not left the rating of TOP-10 countries in the field of purchase of real estate abroad. Among other places, along with Turkey, there are Spain, Bulgaria, Cyprus, and Montenegro.
Each of them has the advantages of acquiring housing. However, currently, Turkey has several undeniable advantages.
Foreign investors mention a relatively low tax rate on Turkish real estate, which attracts a lot of buyers. The opportunity to visit Turkey on a visa-free regime contributes to the active development of the market. Also, the purchase of property in this country gives the right to obtain a residence permit.
According to the majority of analysts and experts in the field of profitable financial investments, the active economic, political and social development of the state, and the bright prospects for business development provide reliable support for the investment intentions of private and institutional investors from around the world. This tends to be a long-term perspective.
The Turkish government shows a positive attitude towards the inclusion of foreign capital into the state economy, which constantly affects the amendments of bills related to investments from abroad. Each year, the list of countries whose citizens can purchase Turkish property increases.
The country provides favorable conditions for foreign investment. At the same time, investors have the same rights as local residents. One of the most profitable investments is the construction of residential and commercial facilities. Mainly this is real estate on the coast. This tendency is associated with an annual increase in the flow of tourists, active development of infrastructure, an increase in demand for rental and purchases of housing, and various types of entertainment.
Turkey's average economic growth rate is steadily increasing. Obtaining a Turkish passport when buying real estate is possible with investments in the housing market of at least $ 250,000.
At the same time, this way of obtaining citizenship for foreigners is quite profitable. The Turkish lira’s exchange rate, good dynamics in the mobile property market, and affordable mortgage conditions have led to a noticeable jump in sales last year. The mortgage rate on average is about 1.3-1.8% per month.
The opportunity to invest in the purchase of residential and commercial properties in Turkey is available to everyone. This is evidence of analytical data, according to which the annual increase in sales is around 7% . The average annual increase of cost reaches 10%, which makes investment as profitable and reliable as possible. Moreover, by the time of delivery, the price of new objects rises up to 30%. As a result, buying property in Turkey helps you get a stable source of income.
Turkey has a simple property maintenance scheme. When buying housing, the owner pays a tax on the purchase of the real estate in the amount of 3% of the cadastral value specified in the TAPU (Certificate of Ownership).
Along with low taxes, housing costs are relatively low here. The total monthly cost ranges from 10 euros for a house without facilities up to 500 euros if you are the owner of an exclusive villa equipped with the latest technology, swimming pools, landscaping, private security and other amenities. In comparison with the average monthly bills in other European countries, this amount of expenses looks very attractive.
During the tourist season, the cost of renting varies between:
A two-room apartment in a new middle-class house when renting to tourists brings up to 500 euros weekly.
One-bedroom apartment in a house with hotel-type facilities will bring up to 700 euros of income per week.
A three-room apartment in a luxury house with hotel facilities and sea views will cost tenants up to 1000 euros per week.
A luxury villa in Turkey will bring the owner up to 5000 euros per week.
If you decide to find tenants as part of the after-sales service, we are ready to assist in managing your property.
Profit Real Estate will manage the property and allow the owner to get the maximum profit!
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