Factors Affecting the Rise in Sales of The Turkish Real Estate Market

The Turkish real estate market has become a destination for many investors and foreigners around the world. If you look at the reports, you will find that there is a great diversity of nationalities that own real estate in Turkey, and this has led to a significant increase in real estate sales.

In this article, the editorial team at TUR PROPERTY Real Estate will inform you of the most important reasons that led to the rise in real estate sales in Turkey, and many aspects and information that interest you in this field will be highlighted.

What led to the rise in real estate sales in Turkey?

The issue of buying real estate in Turkey is one of the most popular topics at the present time in light of all the facilities provided by the Turkish government in order to attract the largest possible number of foreign capital.

According to the competent authorities responsible for counting the number of properties sold in Turkey in recent times, the numbers are increasing and rising, especially in recent years, when many incentives have been provided.

Through the following paragraph, you can see the most important and most prominent reasons that led to the rise in real estate sales in Turkey:

Getting Turkish citizenship:

If you are interested in the real estate market in Turkey, you will find that most of the people who want to own property in aim to get Turkish citizenship, and last year their percentage reached 40%, and this is the result of the many advantages that can be obtained through it.

If you want to get the citizenship of one of the countries of the European continent, you will find many difficulties in front of you that the governments put in comparison with the case of Turkish citizenship.

How is Turkish citizenship obtained through real estate and why do most foreigners and investors choose to get it through real estate investment despite the many methods available?

For the property to be suitable for applying for Turkish citizenship, its price must be at least 400,000 US dollars, and it must be committed not to sell it before three years have passed.

Certainly, there are many other conditions that the property must meet to be suitable for citizenship, including that it be purchased from a Turkish citizen or any Turkish entity, as well as verifying that the property was not used earlier to obtain the citizenship.

What you do not know is that breaching any of these conditions leads to that the property is not suitable for the citizenship at all.

What are the advantages of getting citizenship?

In fact, we have many good reasons that lead the investor to choose to get citizenship, which are:

-The possibility of retaining the original nationality without giving it up.

-Benefit from all the rights of Turkish citizens.

-Get a lot of important job opportunities.

-Vote in general elections.

-All family members get it.

2- Applying for a real estate residency:

real estate residency can be obtained when buying a residential property in Turkey, with the need for its price to be at least 75,000 US dollars, as well as it must not be within a security or military area, and the foreigner must not have Syrian / Armenian / Cuban / Greek Cyprus / North Korean citizenships. These nationalities are prohibited from buying real estate in Turkey for security reasons and old agreements.

This residency is considered one of the most important types of residencies in Turkey because it is easy to obtain and is renewed annually as long as the foreigner is the owner of the property.

3-Moderate real estate prices:

Did you know that real estate prices in Turkey are low compared to real estate prices that you will find in Europe, America, or even in some Arab countries, especially the Arab Gulf countries, and this is in addition to its high quality, distinctive design and luxury.

This moderation in prices made it suitable for all budgets and tastes without exception. If you go to the real estate market in Turkey, you will find many construction projects that are being built, in addition to the ready-to-move-in projects and installment offers that suit those who cannot pay the value of the property in cash at once.

4- Real estate investment:

A wide category of real estate buyers in Turkey choose to buy an apartment in Turkey for real estate investment, all indicators indicate Turkey's suitability for this type of investment to obtain abundant profit throughout the year, and through the following points you can see them in full:

-Turkey's booming economy.

-political stability.

-Expectations that indicate a price increase in the coming days.

-The high population density in the Turkish state.

-The large foreign influx in Turkey such as immigrants, students and job seekers.

-Busy tourist seasons in the Turkish state.

-The facilities provided by the Turkish government.

What do you know about the facilities provided by the Turkish government to those wishing to buy real estate in Turkey?

-tax cuts.

-Exemption from added value tax.

-Ease of procedures for owning real estate in Turkey.

-Adequate prices.

-Monitoring and tracking the real estate market to see the most important happenings.

-The real estate appraisal document that controls real estate prices and prevents any price manipulation from occurring.

In your opinion, are the reasons that prompted foreigners to buy real estate in Turkey limited to what was mentioned above only? Certainly not, as there are more other reasons that encourage this step, the most prominent of which are:

-The geographical location of the Turkish state, as it is in the middle of three continents of the world.

-Turkey oversees four seas: The Black Sea - the Sea of ​​Marmara - the Aegean Sea - the Mediterranean.

-Turkey is one of the most important industrial countries and ranked 13th in the world in this field.

-It allowed foreigners to buy what suits them of real estate in Turkey without any limits.

Foreigners’ ownership of real estate in Turkey is not limited to a certain period, as is the case with European countries that have specified a certain period in which foreigners’ ownership of real estate on their land ends, which is 99 years.

The most popular types of apartments for sale in Turkey:

According to the statistics, the demand for apartments is the largest due to the high population density that Turkey is witnessing, and this is what makes it a profitable real estate investment. The successful investment is in the most demanded thing, followed by villas in second place.

As for the most nationalities that buy real estate in Turkey, they are the Iranian nationality, followed by the Iraqi, and then the Russian one. In general, we can tell you that the Arabs are the most who own real estate in Turkey due to Turkey's geographical proximity to the Arab world, in addition to the great similarity between the customs and traditions between the two societies, as well as the Islamic religion.

In this context, you should know that it is easy to find real estate for sale in Turkey due to the many construction projects that are being built, so that there is a balance between demand and supply.

What does the real estate market in Turkey include?

The Turkish real estate sector is not limited to residential real estate only, but also contains many types from which other types are branched, and through the following paragraph, we will mention the most important of them:

First - Residential real estate:

And what is meant by residential real estate is real estate intended for housing and residence, and of course it is the most widespread and most sought after in Turkey. Living in it is a gain and investing in it is also a good opportunity, whether by selling it at a more expensive price after a long time or by renting it to a resident in Turkey and thus guaranteeing a fixed monthly return, and the fact that This method is more successful in using residential properties that are located close to tourist sites and monuments, because tourists will flock to them from all sides, especially if they have a pleasant external appearance.

One of the common ways to invest in residential real estate is to buy an old used one that is more than ten years old at a very cheap price, and then perform some maintenance work on it and add modern decorations to make it more like modern, but ready-made properties remain better in several respects, the first of which is the infrastructure in it that is developed and keeps pace with the latest developments in modernity. And the development that has taken place in the world, and the second is saving time, effort and money. Although its price is more expensive than the old real estate, the cost returns to close when huge amounts of money are spent on maintenance work and waiting for a long period until it is completed to become ready for residence.

Some may think that residential real estate in Turkey is limited to one form or one type, but the reality is completely different, as it has many types, each with different characteristics and features, the most prominent of which are:

Normal apartments:

It is located in the normal Turkish neighborhoods and regions and can only be found within a separate building. As for its services, it is limited to the main facilities that the Turkish state provides to its citizens, such as the cleaning service, such as sending the state cleaning workers for stairs and corridors, and the prices of regular apartments are linked to the price of the general real estate market in the region and the city where they are located, it is from place to place their prices vary.

Smart apartments:

It is a new fruit of scientific progress, and it is about apartments and villas using the latest technology. You will find your comfort in this type of apartment due to the recreational services they provide to their owners. Before we start talking about them, we must explain to you the meaning of smart homes, which are about homes where modern technologies are used, rely heavily on technology in all facilities, so you can with one click of a button control everything around you, from controlling lighting, heating, ventilation and air conditioning, and turning on air conditioners automatically when temperatures drop or rise, to kitchen tools and existing electrical appliances at home, these houses understands what you want and does most things like closing the windows automatically for you, as well as with curtains and doors.

It is also worth noting that smart apartments do not differ in their shape, appearance and building materials from traditional apartments, but the main difference lies in the infrastructure. In order for your apartment to have systems for controlling lighting, extinguishing fires, opening and closing curtains, and controlling audio, video and cinematic devices, you will need highly intelligent and powerful systems to be able to perform all these tasks with precision and discipline, and these apartments provide security and safety through surveillance cameras deployed outside and inside, and there are security system devices that issue warns you in the event of any theft attempt or penetration of the house, and also work to monitor the humidity level in the garden plants of the smart home.

Residential complexes:

They are real estate of various types, apartments or villas, which are built on one plot of land and consist of at least two buildings and sometimes up to ten or more buildings, providing residents with very advanced protection systems to provide an element of safety and peace. Security specialists guard the complex day and night, and they are never allowed to enter strangers after making sure that it is from one of the residents in the complex. The complexes are always available in strategic locations close to transportation, basic and entertaining services, and luxury city centers. The view varies from one apartment to another depending on its destination and height. You can choose whatever you want, as the choices are endless from vacant apartments in the residential complexes that provide a quiet and comfortable environment for residents.

One of the most distinguishing features of residential complexes in Turkey is the provision of all kinds of service facilities for their residents to enjoy complete comfort, starting with green gardens, cafes, restaurants, gyms, Turkish baths and saunas, in addition to summer and winter swimming pools, football and basketball fields for children and adults, not to mention the vast spaces designated only for parking. We note that these services may decrease or increase from one residential complex to another, depending on what has been planned by the construction companies that are racing in Turkey To provide services that are more distinguished from others, the complex is designed in a modern architectural style that attracts the attention of investors, as it contains the best engineering shapes with the selection of the best building materials and decorations.

Villas:

Villas are a haven for the high class of society due to their high price, but in fact it is very suitable for the types of services they provide from protection services such as high walls surrounded by them on all sides and surveillance cameras that work throughout the day without stopping, and we add to these various entertaining services from swimming pools, gardens and spaces. The large ones are more suitable for large families, and the villas within the real estate market in Turkey vary and are divided into three sections.

The first section is the historical villas that bear the fragrant Turkish history from the various civilizations that were established in Turkey and certainly have a long life dating back to hundreds and thousands of years.

The second is the tourist villas, it was called by this name due to the high turnout of tourists, as it is equipped with the latest services that provide comfort to them and their prices are very high.

The last section is the regular villas that most classes of society can acquire as a result of their low price if we want to compare them with other types.

Second - commercial real estate:

Investing in commercial real estate is one of the best ways to achieve a good investment return, as you can buy a hotel, restaurant, or any type of commercial asset, and all of them may be good investment opportunities if you choose the right location. On the other hand, if it succeeds, you will make a real wealth of profits.

Investors in commercial real estate want to stay in them for long periods, such as three or ten years, especially supermarkets and bank branches. Commercial tenants also tend to stay in the workplace and not change it much so that the address does not differ to customers. In this context, we must tell you an important information that commercial real estate has many types, the most important of which are:

-Offices:

There are properties called offices, and one of them is located in a separate building or office complex and is suitable for commercial businesses, such as law offices or real estate, and there is another type called home office, it is located in a building that contains a number of shops.

-Shops:

Shops occupy large areas of Turkey due to the increased demand for them, as they are considered the ideal solution for people wishing to open centers for the sale of foodstuffs or selling paint materials and building supplies. Large shopping centers are sometimes located in separate buildings or apartment complexes.

-Companies:

Examples include real estate companies, import and export companies, health insurance or other multiple fields.

-Schools:

It is one of the types of commercial real estate and holds a government license. There are also private, Arab and international schools in Turkey, especially the famous major cities such as Istanbul, Antalya and Ankara. There are also institutes and educational centers.

Real estate prices in Turkey:

Due to the urban renaissance taking place in Turkey and the huge projects that are being implemented at the present time, real estate prices have risen in them, and regardless of the fluctuation in the value of the Turkish lira that affects prices, it is still in the process of increasing, and despite that, it is very cheap when compared with the financial value of the properties in Any European country, and add to your information that there is no uniform value for all apartments, but rather it varies according to several factors, the most important of which is the location.

Do not buy a property in an area that is not vital, as this will cause you severe damage and resounding losses, especially if it is commercial because you will not find customers to sell the products, and even If it is residential, you did not find someone to rent it because many people do not want to buy a property far from service facilities and transportation, so a property located within a vital area is able to generate more profits and therefore its price will be more expensive.

Among other factors, the real estate’s area, the higher its price, and this is the case with the quality of the interior and exterior finishes of the property and the service facilities attached to it, and also its type plays an important role in actually determining the price. For example, villas, residential complexes and smart apartments are significantly more expensive than regular apartments and studios. In the end, it has something of sophistication that ordinary apartments lose, and the age of the property also affects. if it is old, its price will be cheaper due to its frequent use and the delay in its infrastructure and services it provides. As for the modern ones, their price will be more expensive and the demand for them will be more.

Tips for the real estate market in Turkey:

If you are new to real estate investment and do not have enough information to help you delve into the Turkish real estate market, this paragraph will provide you with some tips that will help you:

First - Do not rely on yourself completely:

It is better to use a real estate consultant who strengthens and supports your decision and guides you to choose the right property that matches your desire, and the result will inevitably impress you, because his main task is to satisfy customers and meet their requests, and if he notices any suspicious behavior by the seller, he warns you, it may be a fraud, and sometimes advises you by heading to certain reliable construction companies that own the property you are looking for, and offer you a group of properties to choose from, and during the field tour, he preferably explains the defects and advantages of the property to be aware of all the details and information, not only that, but he is responsible for the buying and selling procedures and prepares the necessary papers for that.

Second - Choose the right time to buy the property:

One of the important things that must be paid attention to is determining the best time to buy a property, paying attention to several factors such as the activity of the real estate market, and also the correct knowledge of the real estate cycle. There may be something in it known as real estate stagnation, which often occurs in the winter, and at the beginning of the school year, the demand for real estate purchases in Turkey decreases, and here you have the right opportunity in terms of the purchase price, as it will be low compared to the case of market activity.

Third - Studying offers and searching for the right property:

After communicating with the real estate consultant or the real estate company, you must study the offers that were presented to you, see the features and specifications of each of them and compare them with the model you envision, such as finishes, decorations and fixtures, and it is also worth noting that the property price and payment method must be compatible with the financial capacity and budget specified for the project.

Fourth - Management of the property after its purchase:

It is important for the owner and investor in Turkey to manage his property well and to improve his employment through methods that suit the location and condition of the property, and choose the best investment such as renting, selling or renting a tourist, and he can rely on himself if he is permanently present in Turkey or rely on a real estate company to does the job for him.

The real estate market in Turkey has become one of the strongest markets in the world due to its vitality in all seasons and the increase in demand by foreign and Arab investors because of its multiple options that meet their needs and desires.