In response to the question, is it profitable to buy property in Turkey? It should be kept in mind that many factors will make people want to invest in buying property in this country.
Turkey is known for its unique tourist attractions, which is why many tourists will want to stay in this country for a long time.
So many people want to buy a villa in Antalya or buy a house in Istanbul . In addition to receiving residency, one should think about whether buying a property in Turkey is a good investment. Or sometimes it proves the opposite.
For this reason, in this article, to the basic questions in this field, especially the question, is it profitable to buy property in Turkey? We will respond at CityRealty real-estate Services Company.
Investigating the purchase of property in Turkey
Undoubtedly, buying a property in Turkey is one of the fastest ways to obtain citizenship of this country. In addition to this, it should be kept in mind that people will get one of the best passports in the world by buying real estate in Turkey.
Also, by buying property in this country, a positive step will be taken for profitable investment. As it is evident, buying property in Turkey is the goal of some big investors, and since this country is known as a tourist hub, the demand for buying property is increasing day by day.
One of the main points in answering the question, is buying a property in Turkey profitable? Paying attention to the laws related to how to obtain Turkish citizenship by buying property. For more information on how to obtain Turkish residence, you can visit the website of the Turkish Immigration Department .
Rules for obtaining residence by buying property in Turkey
A lot of investors are buying villas in Antalya or buying a property in Istanbul in order to obtain citizenship from Turkey and invest economically .
Undoubtedly, there is a minimum amount and cost for buying a house and property in Turkey by the government of this country. This has a significant effect on the answer to the question, is it profitable to buy property in Turkey? Will have.
Investors can own a property in the tourist country of Turkey by spending 400,000 dollars. Of course, after completing the process of buying a house, people must submit their request for citizenship to the official register.
Also, in order to maintain their citizenship title as Turkish nationals, the aforementioned investors must comply with some predetermined criteria and adapt themselves to these criteria.
The government of Turkey has imposed some legal restrictions to create obstacles for real estate brokers and intermediaries in this country, which are mentioned below.
- Not allowed to sell the property for up to three years
- In order to receive a three-year residence in Turkey, it is necessary to pay 60,000 dollars.
Necessary documents to buy property in Turkey
In order to go through the legal process of property registration in any country, it is necessary to provide some documents. Therefore, the Turkish government will force the applicant to submit some documents to register the property.
In the following, some of these documents are mentioned by the CityRealty’s real estate trading agency. Of course, it is recommended to contact the consultants of this company to get more information in this field.
- Provide photos of the seller and the buyer
- Provide all identity documents
- Providing an earthquake insurance policy is mandatory.
- Registration of real estate evaluation report
- Providing the official and legal document of the traded property
Obtaining permanent residence in Turkey
Those interested in obtaining permanent residence in Turkey will quickly achieve their goal by purchasing a property worth 400,000 dollars.
In fact, these people will receive a residence permit for one year by registering the property in this country. Of course, every five years a person must renew his residence.
Applicants for permanent residence are also required to pay 60,000 US dollars, so that after paying the said fee, they will receive a temporary residence card and renew it after one year.
It should also be kept in mind that in order to obtain permanent residence in this country, the applicant must be present in this country for 3 years and 11 months each year.
Comparison of property purchase in Europe and Turkey
In some cases, applicants to buy real estate in foreign countries will have difficulty in deciding where to invest. To answer the question, is buying a property in Turkey a good investment? It should be kept in mind, it will require a more comprehensive view.
It can be mentioned that the time required to obtain a residence in Turkey is much shorter. This is if in European countries it takes 5 years to obtain residency. Also, the principles and rules of obtaining residence in Europe are far more complicated than in Turkey.
Of course, it goes without saying that Turkey’s economy is weakening, while Europe has maintained the material value of its money.
Advantages of buying real estate in Turkey
In this section, in order to complete the above information and a more complete answer to the question, is it profitable to buy property in Turkey? We will discuss the main advantages of buying property in Turkey.
As mentioned, buying property and investing in Turkey can be a launching pad for increasing the capital value and financial reserves of investors. The advantages of buying property in Turkey include the following.
- Obtaining Turkish residence and passport after 60 to 80 days
- Get a bank loan with the lowest interest rate
- The possibility of opening an account
- Get free medical services
- adoption of the tax code
- The possibility of free education in this country
- Low cost of living in Turkey
- Increasing the probability of receiving a Schengen visa
Investigating the conditions of buying property in Turkey
The conditions for buying property in Turkey are a little smoother than in Iran. In such a way that by purchasing real estate in this country, people will be able to get many facilities and desirable housing by spending less money. Also, it is not far from expected that in this country depending on the specific situations, the price and costs needed to buy real estate vary.
The factors affecting property prices in Turkey are as follows.
- The desired place to buy property
- The distance between the property and the sea
- The amount of infrastructure
- What type of housing
Investigating the purchase of a villa in Antalya
Antalya is considered one of the most popular regions in Turkey, due to its beautiful nature and many tourist attractions, many businessmen are interested in investing and buying property in this region.
Antalya is known as one of the top five provinces of Turkey, and due to the desire of investors to buy housing in this region, its housing situation is subject to severe fluctuations.
For this reason, it is suggested to consult with professional consultants in this field in order to buy a property in this area. You can also access the required information about buying housing in this area by visiting the CityRealty real estate website.
Conditions for buying a house in Istanbul
According to the analysis of some information obtained by the Turkish Statistical Institute, the average cost of each square meter of housing in the Istanbul region will be 485 euros.
Also, the average cost of buying an apartment in this area is about 56,000 euros. Of course, it should be kept in mind that buying a property in this area, like buying a property in Antalya, is associated with difficulties and unfavorable economic fluctuations. It should also be kept in mind that real estate prices in Istanbul will always rise.
Basic points before buying a property in Turkey
To answer the question, is it profitable to buy property in Turkey? In addition to the above, you should pay attention to some points before making any purchase.
In the continuation of the contents of the reliable CityRealty real-estate Company, in order to further guide its audience, it has mentioned some points related to measures before buying a property in Turkey.
- Comprehensive review of the area for investment
- Field and in-person visit to the said area
- Get advice from experts and real estate consultants
- Submitting a power of attorney to a trusted lawyer to purchase commercial property
- Obtaining an insurance policy and determining the amount of tax paid
In this article, we tried to answer two questions: Is it profitable to buy property in Turkey? And the question: Is buying a property in Turkey a good investment? Provide a complete and efficient answer.
Of course, it is recommended to refer to CityRealty real-estate website for more and more detailed information in this field and benefit from the information of this company’s consultants.