Double profits by investing in Turkey real estate 2021-2022
Turkey is famous for its hospitality and advantageous geopolitical position, which makes it an important center for attracting local and international investors in a variety of sectors, including tourism and real estate, which has greatly aroused investor interest. One of the most important reasons why investors prefer Turkey to invest is certainly the beauty of its nature, Asia and Europe, with a high percentage of young people, especially the values that distinguish Turkey, which made it the focus of the attention of foreign investors in general and turned it into a country open to investors and foreign capital.
One of the common questions that may arise in the minds of those who are about to invest in real estate in Turkey. How can I enter the world of real estate investment in Turkey? What is how the bumper profits come in? Are our real estate investment methods in Turkey safe? Or does it have certain drawbacks?
These are the most important ways to invest in real estate in Turkey, and get to know them.
Vibrant and improved economy
The Turkish economy was on the verge of collapse when the new millennium began, but over the past years, the country's economy has been gradually improving. There was an increase in employment and income. The field of foreign trade and investment in Turkey is constantly developing. Turkey's largest trading partners are Germany, Russia, and the United Kingdom, as well as the United Arab Emirates, Iraq, Italy, and China, with many of them ranking first in both export and import. Turkey has benefited from the customs union with the European Union, which was agreed upon in the past years, by increasing industrial production for export while attracting foreign investment originating from the European Union. Turkey has free trade agreements with 22 countries in addition to the Customs Union
Turkish citizenship by investment
Furthermore, international investors do not need a residence permit to purchase real estate. Foreign investors who invest at least 250.000 USD in Turkey are eligible to apply for Turkish citizenship. In 2016, Turkey introduced the Citizenship by Investment Program. Applicants who invest in real estate or bank deposits are granted residency, citizenship, and a second passport
Types of real estate investments in Turkey
Commercial real estate investment
This type of investment is one of the important options offered to investors, and many of them choose it, and the reason for this is that Turkey contains all the ingredients necessary for the success of commercial real estate investment. Among the most prominent of these components is a stable and prosperous economy that guarantees the investor that his investment will remain at the same pace without fluctuation
What makes this choice right is that Turkey has a variety of commercial properties, most notably: offices/shops which are considered the best choice, based on the fact that Turkey is characterized by its tourist nature, so it is visited by a large number of tourists every year which also results in Abundant profits. Also, the huge shopping centers that Turkey is famous for are a convenient option, and hotels as well
Investing in residential real estate
One of the most important real estate investments in Turkey is investing in residential real estate. Turkey contains many residential properties: such as independent apartments / apartment complex apartments / villas / duplexes..etc.
It is also possible to choose a ready-made property, and the property that is still under construction can be selected
Investing in industrial property
Turkey has many cities and industrial regions that attract industrial investors to it, which is a good idea, especially since industrial real estate has received great government attention and support, as it dropped many imposed taxes.
Investing in real estate renovation
This type of investment falls under the name of real estate development. It is to buy old real estate, then work on repairing it, then resell it at a higher price and take advantage of the price difference.
Some considered this method of investment to be a revival of old real estate.
Investing in unfinished buildings
Usually, the owners of giant and huge projects prefer the option of investing in a whole building, as it is suitable to be the headquarters of a huge company, a medical center, or an educational institution and the profits that will result from it will certainly be high.
Can real estate investment in Turkey be a project free from defects or negatives?
It certainly has a downside, but it can be cured by adhering to some tips and following well-thought-out rules
One of the most important of these negatives is that it may be difficult to find tenants due to a defect in the property that may be in its location or specifications, and many other details related to it.
Therefore, there are many options for those who are looking for a way to invest their property, they must first determine the type of property and then determine the method in which they wish to invest it.
More tips on investing in Turkish real estate
The exchange rate of the lira with other international currencies has reached an all-time high, giving buyers more Turkish lira than they ever had. When compared to other countries that dominate the international real estate market, having a surplus of housing in certain places provides reasonable prices per square meter.
To summarize, buying real estate in Turkey is a solid investment, but you should evaluate each area to see what is driving sales in it.