ТHE CHARM OF REAL ESTATE MARKET IN TURKEY 2021
It has never been so attractive and easy to buy a house in İstanbul as today. İstanbul has a history of 1600 years, has been the capital of four great empires. It connects Asia and Europe. It’s attractive with its multicultural society structure and rich history. In addition it’s a popular city for tourism, education, business and life.
Тhe Charm Of Real Estate Market In Turkey 2021
Istanbul real estate market continues to grow day by day and offers unique opportunities especially to foreign investors. The number of real estate purchased by foreign investors in Turkey in 2019 was 45,500 , 20,000 of these properties were purchased from Istanbul.
Whether for living or for investment purposes, Istanbul has a wide variety of real estate options. Regardless of your budget, you can find houses with high quality standards and a good location to meet your expectations in Istanbul.
If you are looking for a quiet, peaceful and comfortable flat to purchase you can have numerous stylish options to choose. You can find amazing luxury villas in a peaceful quiet area or closer to the center.
If you prefer to live more intimately with people, you will have many options for a luxury house to buy in İstanbul with private gyms, advanced security systems, secure parking facilities, and unique social facilities.
If you want to buy a house with a Bosphorus view or a quiet place by the sea, you will be presented with many options that can meet your expectations.
Smart homes built using advanced construction techniques also offer numerous options for those who are considering investment by purchasing quality real estate.
International finance and real estate experts of organizations such as Deloitte, HSBC, Bloomberg, KPMG and Knight Frank, which are respected by all world investors, have announced that they expect the Istanbul real estate prices to increase in the next 5 years.
The reasons underlying this expectation are as follows.
Increasing real estate demand of foreign investors.
Realized and foreseen high tourism revenues..
Increasing young population and therefore increasing housing demand.
Quality of houses built with advanced construction techniques.
Turkey’s growing and evolving economic structure.
The state has been granted dual citizenship rights to foreign investors with the real estate investment program that came out on 19.08.2018. According to this law, foreign investors who buy a property worth at least $ 250,000 within Turkey’s borders be entitled to Turkish nationality.
Foreigners who purchase flats, real estate or land from Turkey can benefit from education and health services, work or start their own businesses after being Turkish citizen. They may also have the right to live, work or start their own business in the Schengen zone countries.
There are two types of taxes you pay when you purchase a property in Turkey.
1- Purchase tax (VAT)
Depending on the variables such as location, construction quality and size of the flat you purchase , the purchase tax can be between 1% and 18%. If this is the first residence you will buy in Turkey, the purchase tax will be 1%.
2- Property tax
The other tax that you need to pay is for the title deed transfer cost. This amount is determined by the Land Registry Office, and is 4% of the property purchase price. Property tax of the real estate you will purchase may be covered by the construction company in some housing projects.
Opportunities may surprise you.
Experience the charm of buying a house in Istanbul.
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