Facts Making Turkey The Best Location for Foreigners To Buy Real Estate
Spectacular history, culture, nature, and appropriate climate made Turkey a desirable destination for many ex-pats. We all realized during the Global pandemic how having a healthy and happy life became more important than ever, and Turkey performed great success dealing with all the challenges through current situation that affected all the sectors in all world counties. Which attracted people’s attention from all around the world.
States and countries are racing to put in place new policies and amendments to help attracting hot capitals into their economies, and these laws come always to the investor’s benefit. This is the case in a lot of countries throughout the world in Europe, Asia, and America. Whether it is providing a residence permit in the country, citizenship, or tax reductions… these policies and laws vary from one country to another, along with other attractive factors, it became harder for overseas investors to choose the country for their investments.
When evaluating which country to invest in, there are many factors that need to be taken into consideration:
- Natural factors, which are the geographic location and climate, which affect the average lifestyle and tourist environment.
- Historical and cultural factors
- Social and religious factors
- The fundamentals of the economy.
When talking about Turkey, it has all these qualities and advantages. It is a big country with 783,562 square kilometres, with many shores on different seas which means a great diversity in tourism, agriculture, and industry when compared to most European countries. Nature in Turkey is not so different from the climate of Europe even though it is better, thanks to its location on the Asian and European continents. Turkey is characterized by great culture which is a mix between the history heritage and geographic location, in addition to a developed infrastructure and lifestyle.
In 2018 Istanbul ranked ninth among the world’s most visited countries, ahead of Berlin, Barcelona, Rome, Los Angeles, and other important tourist cities.
Real estate in Turkey is much affordable than in EU countries, with global construction quality. The price per square meter in the Turkish real estate market is much lower than that of the European countries in general, in addition to the lower cost of living in Turkey, comparing to the EU countries.
The easy transaction and bureaucracy! The buying and selling process in turkey is way easier and does not require a lot of paperwork and time, it can be done in one day only.
A foreigner can obtain a residence permit after buying a property in Turkey. The real estate residence permit is given to the owner of the property and his family members and is renewed annually. And investments worth $ 250,000 give the investor the right to obtain citizenship directly.
In Conclusion, Turkey owns many attractions factors from suitable climate, growing economy, strong real estate market that continue growing despite all the challenges experienced in globally, touristic, and historical attractions that attract tourists from around the World… all these make it an attractive and profitable option to invest or to build a new life.