Turkey's real estate booming thanks to government support

There is no doubt that Turkey's real estate is unique because all investors want to invest in it to make money and make real wealth, and although it has many advantages, this does not mean that it is free of defects, and here comes the role of the Turkish government by setting conditions and facilities, and in this article we will highlight the role of the government in the excellence of Turkey's real estate.

The role of the government in the prosperity of Turkey's real estate:

The Turkish government has provided many facilities that attracted the attention of foreign investors. In the recent period, amendments to these Turkish laws have increased after achieving significant growth, and we will mention some of them through the following:

First: Reducing and canceling many real estate taxes:

In order to attract the attention of foreign investors and the development of real estate investment in Turkey, the Turkish government reduced the taxes resulting from the purchase of real estate by foreigners by a large percentage, thus making the value of it affordable in terms of all strata of society.

Second: Issuing the evaluation document to control fraud cases:

The real estate appraisal document is a document through which the status of the property is studied to find out the appropriate price, and it is issued by specific institutions in the Turkish government where it lasts for only 3 months, and of course it contributed to alleviating some cases of real estate occupation, especially with regard to the purchase of real estate in Turkey in order to 

Third: Abolition of the reciprocity law:

Turkey used to follow the law of reciprocity in the past almost before 2012 regarding investment in its territory, that is, it allows foreigners to invest and buy real estate in Turkey only in the event that their country allows its citizens to invest in its land, but because this law was amended and the principle of reciprocity was abolished, which led to allowing foreigners to invest real estate in Turkey without taking into account whether their country allows Turks to do so or not.

Fourth: Obtaining real estate residence permit:

Residence in real estate ownership in Turkey enables the owner of this property to reside on Turkish lands by purchasing an apartment in Turkey worth 75 thousand US dollars and above, but does not allow him to apply for Turkish citizenship through this residence permit unless the value of the property is not less than 400 thousand dollars. In addition, upon renewing the real estate residence permit, the title deed on which the residence permit is granted must be issued, and no other application may be submitted.

Fifth: Providing an opportunity to obtain Turkish citizenship:

After the recent amendment issued by the Turkish government to the naturalization decision, it has become possible to obtain Turkish citizenship more easily and in several ways, including real estate ownership and investment, as obtaining Turkish citizenship through real estate ownership is one of the best and most feasible ways, as it combines obtaining an apartment in Turkey with the opportunity to live in an upscale country, if it is an opportunity to own, invest and obtain Turkish citizenship with its strong passport at the same time, and in this context we must remind you of the appropriate real estate price to apply for citizenship, which is 400 thousand US dollars

Other reasons encourage foreigners to buy Turkey's real estate:

The property in Turkey is one of the best in the world, as it competes with real estate in European countries because of the various advantages it carries and at a competitive price compared to other countries. These advantages include:

First: Strategic Geographic Location:

The strategic location is one of the strongest reasons for buying Turkish real estate, as it connects Europe and the Middle East countries in addition to neighboring many important countries, and we do not forget the existence of the Black Sea and the Bosphorus Strait.

Second: The boom in the tourism sector:

There is no doubt that the tourism sector has an important impact on the real estate and investments sector, as it is characterized by continuous tourism movement, which pushed the real estate sector to develop as well to meet all forms of tourism requirements.

Third: Advanced infrastructure:

The Turkish government is interested in infrastructure projects, as it works to establish the most important projects in which European countries compete, for example, the new Istanbul Airport, which is one of the largest and latest airports in the world, in addition to highways and large hospitals.

Fourth: Cheap prices of real estate in Turkey:

There are many opportunities to own and invest in real estate in Turkey, where house prices are still cheap compared to their European counterparts, and Turkey is in a state of competition in attracting foreign investors by developing its cities and working to create an urban boom such as Istanbul, Trabzon and Antalya. 

Warnings Before Acquiring Turkey's Real Estate:

There are some important tips for buying real estate in Turkey, and we will mention some of them through this paragraph:

First: Hire real estate experts:

You should seek the help of a real estate agent or real estate company, especially if you are a foreigner or a new investor in the real estate sector because you will be subject to a lot of occupation and fraud if you rely on your information, so it is not desirable, even if you are aware of its news first and foremost, to deal with a real estate company and a real estate consultant  guarantee you.

Second: You must be careful and not to rush:

Investors who do not have patience are quickly surrounded by boredom and frustration when they miss one or more opportunities and fail to achieve an appropriate deal, so they resort to waiving some of the specifications of the property that they aspire to own, and this behavior of course culminates in a fatal mistake because the Turkish real estate market is a very competitive and strong market, so you have to be patient and wait and go through more than one experience to get the property that they aspire to without falling into this mistake.

Third: Stay away from old apartments:

The old houses are low in price and this is what attracts buyers to them, but if we think for a while, we find that these houses need a lot of maintenance work to be able to live in, if we add up the price of these maintenance works, we will find that they will cost you more than the ready-made houses.

Fourth: Visit the property:

It is best to do a scouting tour of the homes nominated by the construction companies. While doing this step, you must be smart. Do not be easily fooled by the talk you receive and pay attention to the finest details of the house, and do not rely on images of the house or videos sent to you by the seller. It is possible that they are completely different on the ground.

Fifth:  take care to choose the location of the property:

The prices of houses in the city center are usually more expensive than those far away from them, so make sure not to buy a house on the outskirts of the city, although its price is attractive, but it will cause you a lot of problems in the future because it is not close to schools, universities, health centers, various services and many others.

Turkey's real estate continues to attract a huge number of investors, foreigners and entrepreneurs thanks to the Turkish government, which has striven to revive its real estate sector by providing several facilities and incentives for it.

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