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  5. Procuring A Property In Turkey Is The Optimal Investment For Foreigners

Procuring A Property In Turkey Is The Optimal Investment For Foreigners

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In recent years, the real estate sector in Turkey has successfully managed to attract a large number of foreign nationalities. As a result, the Turkish real estate sector has been classified as one of the most dominant and compelling markets internationally. A few factors and figures have been a part of leading this sector to become a success. Although Turkey’s unique geographical location, its climate, and economic growth have always been a few of the reasons why many foreigners are captivated by it, the most influential factor has been and continues to be the support that the Turkish government has constantly provided the real estate sector. Once a foreigner purchases a property and is granted the ownership of that property he/she will be able to highly benefit from a diversity of opportunities and privileges that will be presented to him/her. Therefore, investing in Turkey will surely be one of the greatest decisions any foreigner would make.


Purchasing A Property In Turkey To Acquire A Turkish Citizenship

Obtaining Turkish citizenship and a Turkish passport have many advantages and privileges. In recent years, the Turkish passport has been ranked amongst the 30th most influential passports worldwide. The Turkish government for quite some time now has been striving to strengthen and fortify the real estate sector particularly in Istanbul. Hence, the Turkish naturalization law and regulations in the year 2010 and its amendments in the year 2018 specified that purchasing a property in turkey shall grant the proprietorship Turkish citizenship. This law has promoted the Turkish real estate sector further, allowing numerous Arab and foreign investors to begin investing in Turkey.

The Turkish Legislation states that it has guaranteed numerous advantages and has eased the process for those who wish to procure property in Turkey to obtain Turkish citizenship.

The Most Prominent Of These Benefits Are Stated Below:

As mentioned above, the Turkish government supports the Real Estate sector and its’ foreign investors, through easing the process, assisting the individual to overcome obstacles that may arise, facilitating the legal procedures of procuring property in Turkey, and also assisting to transfer the title deed to that property. The same support is granted to the individual and their family members for all the citizenship legal procedures and for issuing a Turkish passport.

An outlined procedure for foreign investors to procure a real estate property and apply for Turkish citizenship:

As a real estate consultant, we at Homey Properties will provide our clients with the utmost support, from searching for the appropriate property that fits all the specifications required by the law to apply for citizenship to issuing a Turkish passport for you and the members of your family. In addition to a variety of many other services that ensure you will achieve a high investment return through investing in Turkey. Our main goal is for our clients to experience and benefit from every investment they make in Turkey.

Facilities And Tax Exemptions:

The Turkish government has shown its interest and great support to all foreign investors and investments in Turkey, now its main focus is to reduce taxes and all material claims that are imposed on foreigners who own properties in Turkey. The assessment of taxes in the Real Estate sector in Turkey is quite low in comparison to those other average revenues and taxes within the European Real Estate sector. In the year 2017, the Turkish parliament exempted foreign investors from the imposed added taxes, which was previously estimated at an 8% value from the purchased property. Due to this exemption law, foreign investments in Turkey have increased by approximately 13%. 

For further information on purchasing a property in Turkey, tax exemptions, services, and facilities kindly contact your real estate advisor through the following form.

Classifications Of Real Estate Taxes In Turkey:

Other than the ‘value-added tax’, there are a few other taxes that an individual is required to pay once they purchase a property in Turkey. These taxes are not of a high rate nor do they affect an individual’s investment return. 

The real estate taxes are categorized below: 

Purchasing A Property In Turkey Is An Investment For The Present And Future

The statistics indicate that there is a high increase in foreign investments in Turkey especially in one of the most touristic cities in the world, Istanbul. Accurate studies and analysis have proven that the Turkish real estate market is an ideal option, that’s why a large number of Arabs and foreigners have chosen to invest in Turkey. It’s safe to say that owning a property in Turkey is a guaranteed investment since Turkish real estate is ranked as the strongest market internationally, any investor is guaranteed all the advantages and benefits. 

Due to the many and new ongoing development projects in Turkey such as the ‘Third Istanbul Bridge’ and the ‘New Istanbul Canal’, all the statistics indicate that shortly every real estate property will increase in value. All of which prove and confirm that the purchasing of a property in Turkey at present is sure to be a golden opportunity for the future.

For further information on purchasing a property in Turkey, tax exemptions, services, and facilities kindly contact your real estate advisor through the following form.