Recently, the issue of real estate investment in Turkey has been reported significantly, if you have questions about the reasons that revived the Turkish real estate market, and why are business men an into invest in it? And what are the ingredients that make Turkey a fertile investment environment? We are here to answer these questions in this article.
Why invest in property in Turkey?
Turkey is a center for attracting Arab and foreign investors, there are many investment opportunities available for investors concerned with real estate investment, especially Arab investors who are attracted by investment in the field of Turkish real estate in general, and the real estate market in Istanbul in particular, and the Turkish real estate market has witnessed a growth and A broad boom in recent years, with high buying rates by foreign investors.
What Identifies the Turkish property market?
The most prominent characteristic of the Turkish real estate market is that it is a strong market, the second most active construction market in the world, Turkey ranks fourth among the ten best real estate investment sites in the world, due to its strong infrastructure and facilities, and the facilities provided by the Turkish government to foreigners wishing to own and invest.
Which Turkish cities are the most attractive to investors?
The interest of foreign investors is focused on attractive cities for tourists and investors, especially the city of Istanbul because of its important strategic location for being the economic capital of Turkey, and its large population encroachment provides a wide segment of the public and consumers at the same time, and major government projects have contributed greatly to Reviving the real estate market in Istanbul, such as Istanbul’s third airport, which was recently opened and is the largest airport in the world, in addition to the new Istanbul Canal, which will become the largest project in Turkey.
property investment options in Istanbul vary, as it is possible to invest in several types of apartments such as:
Choosing a fast-leasing hotel apartment system will be successful, as Istanbul is an important tourist city and tourists flock to it throughout the year, also most construction companies for hotel complexes give a rental guarantee for several years with an excellent profit return.
Apartments for office:
Office apartments guarantee an excellent profit return, this type of apartment is characterized by ease of renting and with a long-term contract, as the tenant establishes his workplace and his stay in it will be prolonged for years in order not to lose his customers who are accustomed to his location.
Villas are one of the most important real estate investments in Turkey, as they can be employed in many areas such as kindergartens, small companies and health centers, and they can be used in tourist areas by renting them out or making them a place of residence or tourist cafes, the prices of villas are on the rise year after year, this is one of the most important motivating factors to buy it.
Is it a good idea to invest in real estate under construction?
The purchase of real estate in under construction projects is a successful investment opportunity, as the price of buying the property before purchase is much lower than its price upon completion of the construction and cladding works, therefore the return from resale will be large between 25% -35% of the price.
What are the most important reasons that encourage property investment in Turkey?
- Political stability in Turkey, which mainly serves investment.
- The strong Turkish economy, which encourages venturing in the fields of investment.
- The competitive Turkish real estate market.
- Close link between the areas of investment in Turkey.
- Strong infrastructure is one of the most important factors in attracting investments.
- Real estate laws that guarantee the rights of foreigners.
- Obtaining Turkish citizenship through the real estate investment program with a value of 250 thousand dollars.
- Governmental guarantee for the property.
What is the government guarantee for the property?
The government guarantee is the clearest copy of the title deed document or title deed issued by the Turkish state in the name of the property owner. The title deed indicates the subordination of the property to the owner and its registration in his name and full ownership. This document is in itself the most important and strongest guarantee by the state of real estate ownership, on the other hand; There is a real estate guarantee procedure that is not only a guarantee of ownership, but a guarantee that covers projects that are still under construction, or what is known as off-plan properties.
This guarantee covers all phases of new projects. The government monitors and follows up all project details, starting from laying the foundation stone for it and ending with handing over the keys to the apartments to their owners through marketing and privatization. This is done through government construction companies affiliated with the Council of Ministers or the Turkish Ministry of Environment and Urbanization, or even major municipalities. Closely follows all the project details, and the project implementation phases are under her supervision based on predetermined quality standards, to fully guarantee the right of the buyer and the investor, whether the purchase is in cash or in installments.
What does the real estate government guarantee include in Turkey?
The government guarantee includes several things, including:
- Ensure construction safety.
- Ensure the correctness of the title deed and the securities.
- Supervising marketing and sales promotion.
- Guarantee of payment and receipt.
- Ensure construction safety.
We hope to have answered all your questions.