By Justin Mays:
Turkey has evolved from just a travel destination for tourists and adventure-seekers to becoming a fast emerging economy. It has effectively bounced back after the negative effects of the COVID-19 lockdown with the launch of a myriad of megaprojects.
This economic growth has caught the interest of many foreigners and global investors.
Foreign buyers from Europe, the Middle East and Asia began to invest in commercial and residential properties, causing a subsequent increase in property sales.
According to FDI Markets, Turkey has become the 9th most popular FDI destination in Europe in 2020.
Keep reading to know if buying property in Turkey is a good investment and what benefits it can offer you.
Affordable Prices
The attractive prices of properties here are a massive reason why so many opt for property investment in Turkey.
The Turkish Lira has weakened against the Dollar and Euro, so the real estate here has become significantly low cost, which has allowed foreign buyers to take great advantage by investing in local properties.
Not only is it much cheaper to buy property here than in other countries, but you have a lot to choose from.
Investing in Turkey is worthwhile with such a vast and inexpensive real estate catalog.
Get Brilliant ROI
Many see investment in Turkey as incredibly reliable because the risks are almost zero. With a stable economy and an ideal geographic location, Turkey is the top choice for foreigners for a holiday.
Year after year, we only see the number of foreigners visiting get higher and higher. As a result, there will always be a demand for housing and accommodation.
You can then get the chance to use your property to acquire reliable income and get the most benefits out of your investment.
Low Maintenance Costs
Once you buy a property, the maintenance costs can get really expensive, adding a lot to your total expenditure. However, this is not the case with properties in Turkey.
The monthly maintenance costs here are not sky high and cover many services, such as the maintenance of lifts, staircases, gyms, etc., and cleaning of the complex.
Seamless Purchase
When you buy a property in Turkey, you do not have to wait for ages for the purchase to finalize. In fact, buying a property here is super straightforward. This is what makes foreign buyers choose Turkey for investment.
Buyers do not have to settle for lengthy wait times, and the legal processes are carried out within a matter of a few days.
Get Higher Value
Foreign buyers can make their money go a long way and buy quality villas and luxury homes for competitive rates. The properties in Turkey have lavish facilities to support high living standards.
Whether you invest in commercial or residential properties, you are sure to get everything you are looking for.
In addition, you can make use of the myriad of facilities present. The health and transport sector are quite advanced, which you can access as an investor.
Hence, the foreigners here can get the best amenities for budget-friendly prices.
What You Can Achieve By Making a Property Investment in Turkey
Business Opportunities
Turkey’s location offers easy access to Europe, which has allowed this country to become the focal point of major businesses. Investing in a Eurasian country can give foreign buyers access to trade and business opportunities in the construction, tourism, and textile industries.
This is a great opportunity for investors to expand their contacts and make lasting connections with global businesses.
In addition, the rising property values are sure to bring in high profits for investors.
Qualified Labor
Unlike many other European countries, Turkey possesses a massive young population.
You can be sure that any project you initiate will achieve outstanding success since this country's young population is well-educated, which means there is ample qualified labor to work with.
A Chance to Become a Turkish Citizen
Turkey has been the center of attention because of its citizenship by investment program. The Turkish government has made becoming a Turkish citizen possible for foreigners.
This program was created in 2017 to encourage foreign investments in the country. According to it, foreign investors who purchase property worth a minimum of USD 400,000 can get the chance of acquiring Turkish citizenship, along with their legal spouse, and minor children.
Moreover, property investment in Turkey can also open doors for investors to get long-term residency in this beautiful country.
Anyone who wants to acquire a real estate residence permit must purchase property worth USD 75,000 or more in the major cities and at least USD 50,000 in the small cities of Turkey.
The best part about getting the real estate residence permit is that you will not need a visa to stay in and enjoy the facilities of this country.
Read more: Comparing Turkish Citizenship by Investment Program with Other Countries.
Get Our Professionals to Help You
If you are interested in what the real estate sector in Turkey has to offer, contact us so our professional advisors can help you. We can make sure you purchase risk-free property and will give an excellent return.
Conclusion
All-in-all, buying a property in Turkey is the best decision an investor can make since every region offers different real estate potential. Your real estate investment here will allow you to unlock endless possibilities for business and financial growth.
Prime Property Turkey is always ready to help you explore the market and ensure you get the best price!
More to read from us:
Living in Turkey as a Digital Nomad
How Much is the Average Home in Turkey?
10 Benefits of Property Investment in Turkey
