Turkey as the best real estate investment destination.
Turkey is becoming one of the most sought-after destinations in the real estate market. Foreigners are happy to contribute to Turkish real estate, and this contributes to several reasons: stunning warm climate, as many as 4 seas, growing economy of the country and rapid development of infrastructure not only in tourist cities, but throughout the country as a whole. The real estate market in Turkey is updated every year at a rapid pace, new residential complexes are built, including elite. The growth of prices for apartments, houses increases by 10-15% every year. This happens for two reasons - first, the usual increase in housing prices. And secondly, the Turkish lira has fallen significantly in cost price against the dollar. Within a single tourist city, such as Antalya, this dynamics will be even greater, as the demand for housing is much greater than the supply, there is no land for new developments in popular areas. Therefore, any apartment in the following year may well increase in value by 5-10-15 thousand dollars. But on the other hand there are problematic neighborhoods, in which there are a lot of offers for sale, and the infrastructure is only in the process of development. In such neighborhoods prices are relatively stable.
Panorama of Konyaalti, Antalya
After the tensions of 2015-2016, Turkey is once again experiencing a surge of interest from foreign investors. New laws are being passed to support this. Facilitating the purchase of homes and with it the acquisition of citizenship of the Republic of Turkey for valued clients. Since April 2017, value added tax has been abolished for foreigners who live at least six months in Turkey and who first bought a home for foreign currency, while not selling it for a year. According to the law, the highest VAT is imposed on large buildings and objects (about 18%), and when buying ordinary apartments the rate is usually 1-2%.
When you purchase expensive real estate in Turkey, you acquire the right to citizenship.
If you bought a property in Turkey for 250,000 dollars and did not sell the object for more than 3 years, you are quite legally can claim citizenship of the Republic of Turkey on TAPU (certificate of ownership). Almost all Turkish real estate developers are great to foreign customers, many banks are happy to give loans. Some Turkish banks (Deniz bank, Akbank, Garanti, Finans bank, etc.) can provide loans for Russians in rubles.
Which foreigners are more likely to buyreal estate in Turkey?
Dynamics of growth of real estate sales to foreigners in Turkey
The combination of oriental flavor and European way of life of large cities makes Turkey attractive for a very large number of foreigners. First of all from eastern countries, close in religion and mentality. Buyers from Saudi Arabia, UAE, Kuwait, Iraq and Iran are happy to purchase real estate in Turkey. By the way, in 2019, the records for buying real estate in Turkey were broken by citizens of Iraq. Richer buyers are focused on the western part of Turkey and large resorts, more conservative - in the east of the country.
Our compatriots buy apartments and houses in Turkey not only for seasonal vacations, but also with the purpose of moving to the azure shores of Turkey for permanent residence. Sometimes there is an aim for profit, i.e. renting and resale in a few years. To prevent fraud and attract more money to the state budget since January 22, 2017 was introduced a ban on short-term rentals from individuals, and this way of earning became unavailable to a large number of private individuals. But the demand was immediately met by companies that offered private individuals to legally rent out their homes for short-term rent.
Judging by the requests of recent years, most Russian-speaking foreigners have a budget to buy housing in Turkey about 50 - 100 thousand dollars, which is quite enough to purchase a comfortable apartment in a non-tourist area. If you take a really popular place like Antalya, Konyaalti district, then you need to go there with a budget of at least 80 - 150 thousand dollars, and if you take elite residential complexes near the sea - not less than 500 thousand dollars. But do not get upset in advance, Turkey is full of fairly cheap resort areas, where prices start at 30 thousand dollars, for example, in Mahmutlar / Alanya / Antalya for secondary housing. This is a great option “house by the sea”.
The most popular destinations in Turkey itself remain resorts - Antalya, Alanya, Kemer, Kash, Mahmutlar. Istanbulreal estate stands apart, there are quite a lot of people who want to live in the former capital.
A little overview of the real estate market.
Apartment with 1 bedroom in Antalya (1+1) 60 m2 in site with swimming pool, Konyaalti district, 0,5-1 km to the sea - price 65 000 USD
Comfortable comfortable apartments for a small family
Villa for 5 rooms in Kemer, Antalya, 350 m2, 0.5 - 1 km to the sea - price 280 000 USD - gives the right to obtain citizenship
A swimming pool, a huge kitchen and citizenship - what else do you need to be happy?
Two-bedroom apartment (2+1) on 125m2 with picturesque sea view in Kaşa, Antalya - price 160 000USD
It's not an apartment, it's a piece of heaven on earth.
Fully furnished apartment in a high-rise on the beach in Mahmutlar, Antalya 90m2 price - 120 000 USD
For those who like to have a bird's eye view of the sea
Suite in Alanya, Antalya for 2 bedrooms with swimming pool 100 m2, 2-2.5 km from the sea . Price: 70 000 USD
The perfect place for a summer vacation
Luxury villa in Antalya, to the sea less than 1 km. Price: 650 000 USD - entitles you to citizenship
Just a royal suite
Villa in Istanbul for 2 bedrooms, developing new neighborhood. Price 180 000 USD
Comfortable, bright and inviting
Luxury apartment in Istanbul overlooking the Bosphorus. Price 1180,000 USD - Such real estate gives the right to citizenship as stated above.
Celebrity housing
.
* Prices are for January 2020
Future plans
Turkey is a booming nation with a young population and bright prospects for the future. The construction sector in Turkey is one of the most versatile. Despite the fact that Turkey continues to struggle with such problems as inflation and unemployment, there is a significant GDP growth every year. The authorities continue their course to attract foreign capital to the country, including through the purchase of real estate by foreigners.
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