Investment Property in Turkey | Turkish Property

Investment Property in Turkey

Of all the European countries, Turkey emerges as one of the most lucrative property investment destinations. The following paragraphs will tell you more about the lure of Turkey, both as an investment destination as well as a tourism hotbed.

However, at the outset, it won’t be out of place to spread a word of caution for all the gullible investors. The recent global meltdown has resulted in a slump in property markets across the board for all countries. Turkey is no exception. Having said that, the prospects for Turkish property are extremely bright due to strong fundamentals on which the Turkish real estate market stands.

Investment Property in Turkey - Fundamentals

So, what are the factors that contribute to a strong real estate market, that is Turkey? The short answer is MANY! Here is a country that boasts of a strong 70 million plus population, out of which majority are under the age of 30 years. This gives over 35 million young work force to the country, who are determined to change the destiny of their country by catapulting it to the numero uno position in terms of real estate opportunities. Resultantly, there is a high and constant demand from this work force for rental as well as residential property.

Turkey is a moderate Muslim country with one of the lowest costs of living in Europe. With no major law and order problem, this country invites all kinds of business and work opportunities for the interested and qualified people. Overall, a perfect environment for the economy of Turkey to flourish and present a strong base for the real estate to bloom.

The past three years have seen a tremendous optimism and growth in the Turkish real estate. This is primarily due to the impending EU member status for the country, which is expected soon. Turkey has already relaxed a number of laws pertaining to the ownership of Turkish property by the foreign nationals, and mortgage. These measures have hastened international interest in the country’s property market, and consequently, gives credence to the rising real estate prices in Turkey.

Even before the advent of EU, the property prices in Turkey were extremely low compared to other European countries. These prices are still relatively low, which is a sure sign of lack of any external factor at play, which could’ve easily jacked up the property prices in the country

Tourism has always been one of the lynchpins for property growth in the country. The vast 7000 kilometres of beautiful coastline complements the Mediterranean climate to give the visitors an unforgettable experience. With sustained tourist interest, there has always been a steady demand for vacation property in and around the coastal areas, which further justifies an enhanced interest in Turkish real estate.

The liberal tax structure applicable to Turkish property also plays its part in strengthening the foundations of real estate sector in the country. There is neither any Turkish property tax for the value of the residence nor any other tax on the profit when selling the residence in Turkey after owning it for a minimum 4 year period. Stamp duties and other marginal taxes are also on a relatively lower side.

Investment Property in Turkey - Opportunities

As a buffer country between Asia and Europe, Turkey is always a hot destination for the tourists from both the continents. The tourism overdose in the country has led to a steep demand for rental and vacation property in large cities and coastal townships, like Altinkum, Bodrum, Kusadasi, Marmaris, Fethiye, Istanbul, Ankara, Izmir, Konya, Bursa, Adana, and Antalya.

The low price Turkey property is a hit among Brit investors. By just spending around £100K, you can be the proud owner of the best Turkish real estate. The same property could cost you a fortune in UK. To double up your pleasure, there is an expected yield of around 15% on the Turkish property investments.

You can also make a killing with off-plan property investment in Turkey. Available at further reduced prices, these off-plan properties are ideal for a budget investor.

The country is witnessing overall development in terms of infrastructure, housing, tourism, and entertainment. It’s not that government is just distributing land for development. The supporting infrastructure is being developed, along with entertainment centres, like Golf courses, shopping malls, multiplexes, et al.

Regular flights to and from the country also lend a solid support to government’s endeavours of offering top-notch environment for growth of real estate in all parts of the country.

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