Commercial For Sale In Turkey
Preparing Commercial Property in Turkey
Turkey is a country with ongoing economic growth and dynamic promotion that evokes many overseas businessmen to buy property for sale in Turkey including commercial properties, whether hotels, restaurants, outlets, chain shops, local stores, branded businesses, and flourishing trading. Investing in commercial property in Turkey is a timely opportunity to channel into a booming progressing economy.
In addition, commercial filed in Turkey is a timely situation for running a company and starting a private business. It is worth mentioning that the Turkish government provides a safe and sound atmosphere for all types of investments as well as commercial investment in favour of absorption of international businessmen.
In this article, the writer puts efforts to explain possible potential in commercial property for international investors in Turkey and passes helpful information that helps readers follow the right direction to make the best commercial investment.
Value of Commercial Property in Turkey
The value of commercial properties varies depending on location and type of property. Usually, properties in prime areas, long history attached, and ready to use properties cost more than typical types. Local shops, properties located at neighbours and blocks of buildings are lucrative options for commercial investment.
The minimum value of commercial properties starts at 300000 Euro, and it raises to millions for first-class commercial properties and flourishing business.
Advantages of Buying Commercial Properties in Turkey
These days commercial properties are an exciting field of investment in Turkey among international businessmen. Some reasons are clarified below:
- Buyers can rent the property to other business owners. The rental investment is a stable and easy income source thanks to the robust economic system in Turkey.
- The rental contract could be extended up to ten years, and owners enjoy a tenancy agreement.
- With the help of friendship investment, international investors have a chance to prepare a commercial property at a profitable cost through an easy-going process.
- Whenever the owner intends to lease out the property, the tenant should pay extra costs for the conversion and decoration of the property. Thus the commercial field seems like a super lucrative investmemt.
- Commercial properties compared to residential properties are more profitable with significant return investment.
- Overseas investors can buy a commercial property without establishing a company.
Different kinds of Commercial Properties for Sale in Turkey
There are different commercial properties for a wide range of business intentions. They could be local shops, stores, prominent first-class businesses, long time active ready-made investment, entire buildings, and blocks of apartments.
Giving advantages to the tourism industry in Turkey encourages investors to run hotels. Hence most investors prefer to buy a block of apartments or entire buildings to convert them to hotels or boutique hotels. Besides, these properties are profitable as they are offered in installments. Then these properties are suitable for those who want a timey investment with a long term payoff on their outlays.
Also, other properties such as first-class business ready-made investments and chain shops are exciting investments, suggested to those looking for a flourishing high return investment. These properties usually are expensive and hardly offered by long term payoff.
Taxes on Commercial Properties in Turkey
Taxes on commercial properties are crucial, and it is better to pay attention before establishing a destination on commercial properties. Generally, purchase taxes are around 4% of the total value of the property.
Furthermore, taxes would be around 25% of income whenever a company is established. In addition, business owners have to pay taxes based on their earnings, which is between 15 %to 35 %of incomes.
Taxes of tenanted properties are on tenants. Owners must pay taxes on rental income around 10 to 20 % of the tenancy agreement.
Essential Points About Commercial Properties to Buy in Turkey
- International investors can buy all real estate properties, whether land, residential, farms or commercial.
- All lawsuits about the property purchasing process for foreigners are exactly like Turkish citizens, and there is no discrimination.
- According to Tukey’s government legislation, foriegners can buy almost 30 thousand hectares of property all over Turkey. Military and security locations are exceptionally banded for sale.
- Foreign investors can buy just 10% of properties of a particular district.
- Transferring title deed processing must be done in the Document Registration Office with the presence of witnesses.
- It is better to do investigations in advance about the property before buying; in this case, the Document Registration Office can help you and clarify any enquiries.
- To get citizenship permission through property investment, buyers must prepare a property at least 250000 dollars.
- To get information about the property’s value, ask for professional expertise.
- The most crucial point to know is overseas investors must buy the property from Turkish owners.
- If foreign owners want to sell the property, the buyer must be a Turkish citizen.
Different Types of Bank Loans in Turkey for Buying Commercial Properties
Varieties of bank loans are offered to investors following the friendship investment program to help buyers make investments quickly and eagerly. There are different type of loans here; the writer explain ones are suitable for commercial properties:
This loan is suitable for investors who buy an off-plan, ready investments, and newly built constructions. This loan is offered with the lowest interest and could be paid off in 5 years. The main advantage of this loan is that the title deed could be gotten off the mortgage after 70% of the loan was paid back.
It is a good option for buyers who don’t have enough cash to invest. This kind of loan covers 70% of the total value. Interests in this type of loan are high.
Fix Rate Loan
This loan is suitable for those who benefit from a stable monthly income. Fix rate loans could be paid off in 20 years with low interest if the client pays off the loan faster than the determined time rate will benefit from a significant discount.
Banks Offered a Loan to Investors in Turkey
Different banks offer loan to investors, and each of them follows specific direction; according to their lawsuit here, the writer name some of the famous banks:
- Ziraat bank
- Halk bank
- Ak bank
- QNB bank
How to Buy Commercial Property in Turkey
Investment in commercial property in Turkey is an extraordinary chance for stable income and joining a dynamic economy to enhance financial potential and boost a career. It is also possible to get residency and citizenship permission through commercial property investment.
But to benefit from this fantastic opportunity, you need to know the rules and be familiar with the friendship investment program to make a safe and profitable investment. Besides, a complete list of cases with detailed information about location, size, payment duration, value, type of property is crucial because of unprecedented commercial options.
On the other hand, handling the purchasing process of commercial property that leads to a successful, safe and sound investment seems overwhelming and somehow frustrating and confusing, but with the help of a professional advisor, that goes smoothly with confidence.
City Realty Turkey is a well known and experienced real estate agent who puts effort into offering an exhaustive list of properties with helpful information for easy selection. But it is not the only; our team with reliable expertise will be with you in any steps to inform you about lawsuits and the best strategy that leads to the most profitable investment commensurate with your goals and budget.