Real Estate Investments in Turkey
The UK has a reciprocal arrangement with Turkey so the buying process is straightforward. Turkey allows foreigners to purchase property provided Turks can purchase property in the buyer’s country. The Turkish real estate sector, offers greater opportunities to investors,in the last decades.
The entry of global actors into the real estate market is increasing the competitiveness of the sector, while massive mergers and acquisitions taking place help its expansion and overall growth rates. As Turkey progresses in its EU membership, the essential legislative reforms introduced have made investing in the real estate market even easier and more profitable. The amendments to the Land Registry Law, the Draft Mortgage Law and the redrafting of tax laws are also designed to improve the competitiveness of the Turkish property sector.
Real Estate in Turkey: in its beauty
Turkey’s position outside the Eurozone is favourable to prospective property buyers. Considering that, it might suggest to you that Istanbul is definitely a place to visit. However, it’s more than just a tourist destination. It’s an economic powerhouse and a huge metropolis with several cultures already existing under it. Of course, not to forget the blue waves of the Bosporus that add such dynamic color to the whole horizon. Climatically, the city remains laid back and cool with some chilly winters and warm summers. Tourists not just come here to visit, they also come here to invest!
Istanbul is one of the oldest inhabited places on planet earth. With its history dating back to an almost 650BC when it was first established as a Greek village, the settlement soon developed to become one of the most historically significant metropolises in Eurasia and the Mediterranean.
With the city being the seat of power for the Eastern Roman Empire, Istanbul is also home to some of the most expansive real estate projects being underway when you consider Eurasia and areas adjoining Turkey in the north of what is now the Balkans. Being a metropolis, nowhere to be seen elsewhere in the surrounding areas, Istanbul boasts off districts like the Levant that are its economic powerhouses. Some of the largest skyscrapers in Turkey are located here with some of the biggest offices. Not just that, Istanbul real estate market also consists of residential apartments and commercial centers nowhere to be seen in the adjoining areas. Invest in properties and apartments in the Beylikduzu district; with a fee close to a hundred thousand dollars, you get an ultra luxurious apartment complete with quality furnishings, beds, dining tables and more. Go a notch higher and invest in the apartments to get a nice blend of greenery and comfortable family apartments. You name it all, Istanbul has everything to offer .Aside the financial considerations, Istanbul offers investments that are at par with global standards of financial regulation and security to investing parties. When you buy a residential apartment or rent it out for someone, you’ll get a full time guarantee in the form of government and authorities’ issued documents and certificates that are fully secure and authentic. Istanbul property market is thus a jewel for those willing to stay here and invest in real estate. We welcome you to Istanbul!
The population in Istanbul is 14 million and around a third of the population is in Asian side. It may seem crowded, and it is, but with proper and wisely planned management Istanbul has become one of the nicest cities in the world.
in real estate and property management in Eurasia, Istanbul’s bright future, rich history, traditions and facets all combine to make this city an ideal place to invest in and making an own way of life. The climate here is absolutely Mediterranean with the blue waves of the Bosporus stretching across as you see the whole skyline of Istanbul. Visit the eastern side to get that glimpse of the old city so intricately carved by subsequent Ottoman sultans - from the Grand Bazaar to the several mosques that dot the cityscape, you name it all. On the contrary, the side to the west, crossing the strait and you face the modern, glittering and expansive version of 21st century Istanbul - huge, vibrant and industrious. Some of the best residential accommodations in Eurasia and around the Aegean are right here in Istanbul. And if that isn’t enough, then of course there is the Levant, the center of economic activity in Istanbul, home to sky reaching tall structures and offices of some of the major economic houses on the planet.
Besides being such expansive, the city boasts of minimal amounts of pollution and chaos. The surrounding Mediterranean climate and the green cover inside the city and surrounding it ensures that wherever you’re visiting, the city will offer you clean air and clean water. It indeed is one experience to visit this beautiful city at the heart of the Mediterranean.
Investment wise, the city is friendly with some of the best real estate property projects going on right now even as we speak and discuss. Districts like the Beylikduzu, Gunesli, Esenyurt constitute some of the finest areas Istanbul can offer for real estate and property investors. Either buy a residence or let it go for rent to have you earning thousands of dollars or buy it for own residence, the choice is equally rewarding and meaningful. Istanbul properties not only constitute residential flats but also office buildings and modern villas like those found at Esenyurt. Several Istanbul property agencies exist that deal with real estate in the city.
The real estate business in turkey doesn’t suffer because the Turkish government provides them an opportunity to get investment from foreign investors. Most of the companies have gone on record and have praised the Turkish regime and their commitment to make the country’s economy a beacon of hope for all the people in the world. However, they want the government to further lower the restrictions that are applied on foreigners coming to the country. It is their suggestion that the stay period for the foreigners needs to the increased from only 3 months to at least 5 to 10 years. According to them, Turkey has a massive chance in the existing conditions to boost its economy and become an economical force as the Arab investors are taking keen interest in buying properties here. The proposed change in laws is going to help Turkey in alluring more investors to come here and buy properties bringing with them new opportunities of business as well.
Is the Investment Really Worth it?
The views of the Turkish developers are not that misguided as some people might think. The foreign investment is really proving to be a very valuable thing for the Turkish economy which is going through its golden periods these days. The numbers also back up their claim that many Arab investors buying property in Istanbul are willing to buy more if the rules are relaxed a bit further. According to reports, only in the month of May last year, the investment made in the Turkish real estate by foreign investors amounted to $1.1 billion which is four times the investment that was made in the whole year of 2011. The bulk of this investment came from the Arab and GCC countries and this is only the beginning of it. If the rules are eased up a bit further, there is every chance that the investors are going to start investing in the long term as well which would mean even greater investments.
What Lies Ahead
The reason why the Turkish government is a bit hesitant about increasing the period of stay of the foreigners is that in their eyes, the value of the Turkish citizenship is very high and they do not want to give it up any time soon. It is the view of the government that they are going to ease up the rules bit and bit only and are going to monitor how the investments come in. If the studies show that the investments in the real estate business are really increasing with the easing of the laws then there definitely will be changes made in the system and the Arab investors buying property in Istanbul are going to be provided Turkish citizenship. The current scenario looks set for Turkey’s real estate business to receive a lot of investment in the coming days if the laws are in fact bent that much that the investors are provided Turkish citizenship. This would provide the investors a lot of incentive and they would look to buy more properties in the country which would mean even more investment for this sector.
