Buying property in Turkey is a winning investment 2021-2022
Turkey has always been a country that attracts the attention of investors with its growing and a strong economy. There are dozens of investment opportunities in different sectors waiting to be discovered in the country. With the free trade agreements Turkey has signed with other countries and the Customs Union with European countries, foreign trade activities are easily provided in the country. In addition, many advantages such as the investment incentives provided by the Turkish Government, the strategic location of the country, and the qualified workforce await investors.
Buying a property in Turkey is your winning investment 2021-2022
Buying a property in Turkey has been one of the safest and least risky investment tools for many people for years. In the ever-changing world, the constant change in living conditions and standards and the desire to secure the future of people supported the idea of real estate investment. For this reason, real estate investment is seen as the most reliable and best investment tool for the future of people.
Turkey is a country with extraordinary growth potential in the real estate market. The number of foreign investors who prefer real estate investment in Turkey is increasing every year. Foreigners generally prefer residential and commercial real estate investment. The most preferred location for real estate investment in Istanbul. In Istanbul, where industry, trade, and tourism activities are intense, the need for housing has also increased with the increasing demand of investors. In the face of these increasing needs, the construction sector in Istanbul has shown great development and the number of real estate for sale in Istanbul has also increased.
Importance of real estate investment in Turkey
- Real estate in Turkey is an indispensable market for the economy and an important resource.
- Investing in real estate in Turkey is the most promising investment that many families can make during their lifetime.
- There is a relationship and mutual effects between the real estate market and land use in Turkey.
- The real estate market in Turkey can offer profitable career opportunities to those engaged in this business.
Turkey's trade agreements with many countries of the world are also closely related to the real estate sector. Turkey, which has a significant foreign trade volume and provides easy access to many countries of the world, attracts the attention of foreign investors. Especially Istanbul is one of the most important trade centers in the world. For this reason, investors who want to trade here also show interest in Istanbul real estate.
The Impact of Trade Agreements Between Turkey and Other Countries on The Real Estate Sector
With its strategic location in the world, Turkey has an important place in international trade. With the International Free Trade Agreements to which Turkey is a party, the international trade volume is growing day by day. The high level of liberalization of international trade by the World Trade Organization was also insufficient. This liberalization, multilateral trading system, which is insufficient in today's conditions, has been insufficient to provide market access. For this reason, countries tend to join bilateral or regional free trade agreements. As a result of this trend, there are approximately 400 “Free Trade Agreements” reported to the World Trade Organization.
Turkey has been a member of the World Trade Organization since 1995. In addition to this membership, it is also a member of organizations such as the Economic Cooperation Organization, the United Nations Trade Development Association, the Black Sea Economic Cooperation Organization, the World Customs Organization, the International Chamber of Commerce, and the D-8. Turkey has become a party to many free trade agreements by participating in these associations or making bilateral agreements. It uses the privilege of its important position and political power in the international arena.
Turkey's Trade Partnerships
- Customs Union Agreement
Turkey carries out its commercial activities subject to the Customs Union Agreement with the European Union, which entered into force in 1995. In addition, Turkey's accession negotiations to the European Union continue. The Customs Union Agreement with the European Union covers all industrial products but does not refer to agriculture, services, or public procurement. However, agricultural products have some privileges through bilateral trade agreements, as in steel and coal products. Products within the scope of the Customs Union envisage that Turkey will comply with "European Union Legislation" in various basic internal market areas, especially industrial standards.
- Europe – Mediterranean Trade Partnership
Turkey is also a member of the Europe-Mediterranean trade partnership. It makes free trade agreements with all Mediterranean countries to create a Europe-Mediterranean free trade area. This commercial partnership aims to remove trade and investment barriers between the European Union and Southern Mediterranean countries. The Euro-Mediterranean Partnership Agreements are in force with most of the partners except Libya and Syria.
- Trade Relations with the USA
Another country with which Turkey has an international free trade agreement is the United States. In 1996, a Tax Agreement was signed and put into effect between Turkey and the United States of America, covering the relevant protocols with the aim of "Avoiding Double Taxation" and "Preventing Financial Smuggling in Terms of Income Taxes".
- Free Trade Agreement between Turkey and UK
Turkey signed a Free Trade Agreement with the UK, which is the second country with which it trades the most. Britain, which left the European Union with the Brexit process, also left the Customs Union as of January 1, 2021. With this development, which led to the need to re-determine the trade regime between Turkey and England, a critical agreement was signed to continue trade without customs duty. This agreement signed by the UK with Turkey became the fifth largest agreement after the agreements made by the country with Japan, Canada, Switzerland, and Norway.
With the Free Trade Agreement signed between Turkey and England;
- Customs taxes on industrial products have been reset.
- Existing concessions with the EU in agriculture and processed agricultural products were scaled and reflected in new trade relations.
- With a provision added to the agreement, it was agreed that the scope of the Free Trade Agreement will be expanded to include areas such as services, investments, and advanced agricultural concessions.
You can contact experienced and professional sales consultants of Diyar Turk Real Estate to be informed about investment opportunities in Turkey and learn more. Please do not hesitate to ask any questions you may have. You can contact us via our website or info@diyarturk.com e-mail address.
