Property investment in Turkey is an essential topic that has spread widely through the internet. In this article, you will get a comprehensive explanation about the best property investment in Turkey for foreigners, and property investment in Istanbul in particular.
A few years ago, Turkey has improved the real estate sector and offered many facilitates for foreigners.
Since then, foreigners from all over the world can own and invest in real estate in Turkey, except for five forbidden countries, due to some diplomatic disputes.
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The Best Property Investment in Turkey for Foreigners
In fact, all types of investments are considered good, and they all bring profits to their owners in the short or long term.
The best property investment in Turkey is that the property is bought at the lowest price to be sold when the demand for it increases at the highest possible price.
Moreover, the best property investment in Istanbul can be considered one of the profitable investments as well, but it is recommended to find a property in a strategical location and rent it to workers, tourist offices or lawyers, in this way you will ensure that you will receive your rent on time.
Why to Choose Property Investment in Istanbul?
We, at Lale Real Estate Group, always advise our customers who want to make the best property investment in Turkey to buy their future property in Istanbul, especially on the European side.
The statics show that tourists visit Istanbul all the year round, so you will always notice an increasing demand for choosing the best property investment in Turkey whether for living or renting.
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Where to Start Property Investment in Turkey?
Saying that we recommend Istanbul as the best place for property investment in Turkey does not mean that other cities are not good.
There are many cities that offer great opportunities for the best property investment in Turkey such as Bursa and Antalya, both cities provide excellent investment chances for foreigners.
Benefits of Property Investment in Turkey for Foreigners
Property investment in Turkey for Foreigners provides many benefits that attract them to own properties in Turkey.
These are the most important benefits of the best property investment in Turkey for foreigners:
- Taxes in Turkey are very low compared to other countries.
- A safe and stable future.
- Turkish laws are very flexible, especially for foreigners.
- The popularity that Turkey has recently gained, has made it the most favorite destination for real estate.
- The possibility of obtaining Turkish citizenship by property investment in Turkey.
- The Turkish constitution supports and encourages property investment in Turkey.
- Turkey’s climate is always mild and suitable for those looking for a place to settle.
Cons of Property Investment in Turkey
Although property investment in Turkey for foreigners is good and safe, there are some points that you should pay attention to:
- Unfamiliarity with the nature of the market and buying at a more expensive price.
- Buying from unreliable companies.
- Financial turmoil may prevent timely payment.
- Non-payment or delay of the rent.
The Lowest Amount of Property Investment in Istanbul
It is good to know that the higher the value of the property, the better its return will be later.
For investors who intend to obtain Turkish citizenship, the minimum property investment in Turkey for foreigners is 400,000 dollars.
But for those who are looking only for a secondary source of profit and to double their money, the lowest possible price for property investment in Istanbul is 60 thousand dollars, this amount let you to buy an apartment with a form of a studio.
This type of apartments is required by students, workers, newlyweds, and even tourists. Therefore, in order for your property investment in Istanbul to be successful, we advise you to buy an apartment in a place where there is a high demand for your property.
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Is Property Investment in Turkey Profitable?
Property investment in Turkey for foreigners is one of the most profitable investments over the world, due to many encouraging reasons, including:
- The huge number of Turkey’s population. Istanbul city is close to 30 million people.
- The large percentage of tourists, foreigners, and locals who search for properties for housing.
- Mild and favorable weather throughout the year.
- Turkey is a meeting place for businessmen and major international brands.
- Low taxes.
- Affordable prices.
- The successful economy of Turkey.
Return on Property Investment in Istanbul
Property investment in Istanbul can achieve a significant financial return, either in the short term for rent, or in the long term for sale.
Investors who buy a property worth 100,000 dollars and rent it for a tourist agency or other offices, can achieve a monthly return ranging between 300 and 1000 dollars per month, depending on the type of apartment and its location.
Factors Affecting Property Investment in Istanbul, Turkey
Many factors can affect the value of best property investment in Turkey for foreigners, and they can be summed up in these points:
- Property location, for example, Istanbul has a higher investment value than other cities.
- Its nearness to important facilities such as hospital, schools, universities.
- The presence of public transport stations near the property.
- Its location in the city center, close to stores and other vital places.
- The nature of the building in which the property is located: new properties get always the highest value.
- Property views.
The Future of Property Investment in Turkey for Foreigners
Turkish real estate market is one of the successful markets, and that is why there is a high demand on buying the best property investment in Turkey for foreigners.
Statistics indicate that the percentage of real estate purchases increased by twenty percent after the Corona crisis, and it is still increasing continuously.
Turkish Lira Inflation with Property Investment in Turkey
Whatever the negative impacts of the low price of the lira on many sectors, its impact on the real estate sector will remain less dangerous, especially when buying in lira. Thus, investors must benefit from this point when deciding to sell the property.
Making a Property Investment in Turkey, Istanbul
Trading in property investment in Istanbul is considered one of the most successful trades ever. Therefore, no matter how much the property seems less valuable, it will attract someone’s attention because of its features.
No matter how long it takes, you will get benefit from property investment in Istanbul, and sooner or later, you will sell your property with a higher value.
The Huge Demand for Property Investment in Istanbul
There is a huge demand for property investment in Istanbul and Turkey in general, but if you are willing to take a step and start the best property investment in Turkey for foreigners, you should pay attention to such brokers.
Brokers have studied the region’s market well and know that they will achieve good returns from such work, after the demand for it has increased significantly, especially since most foreigners do not know the language.
But you must be careful when dealing with them, as no one should be trusted without any legal proof, especially those brokers who work illegally just for gaining profits.
However, dealing with a trustworthy and approved real estate company is always more secure. So, never hurry when choosing the company that you will deal with.
How to Find the Best Real Estate Company in Turkey?
A simple online research on real estate agency websites can help you discover the best companies in this field.
You can visit their headquarters to determine the most appropriate, or ask a question via social media pages, to get answers from people who have previously experiences.
Which is Better, a Bank Deposit or Property Investment in Turkey for Foreigners?
In general, real estate never loses its value, but money is permanently affected by political and economic factors and can lose its value.
Advantages of Depositing Cash in Turkish Banks
The main advantage of this type of investment is that you do nothing but open a bank account, and after that, you will able to collect financial profit periodically without making any effort.
The bank will do all the work, operate your money in several projects, and then add to your account percentages of the profits of all those projects.
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Deposit Investment in Turkish Banks
The return from Turkish bank is depositing according to the interest rate imposed by the bank, and this is not fixed at all, as it changes over time.
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Expected Property Investment Returns in Turkey
Investors who sell their properties during the peak of the year so that the demand for buying property is very high, can achieve high profits.
Impact of Market Fluctuations on Banking and Property Investment in Turkey
There can be no effect, even if it is very small, but it will greatly benefit the investor, especially if he studies the market well and knows how to choose his property well and buy it in the most appropriate time.
If your knowledge of property investment in Istanbul is very little, you can always consult experts in this field to help you decide and choose well.
For any inquires, do not hesitate to contact Lale Real Estate Group Consultant, we are always here for your service.
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Frequently Asked Questions about Property Investment in Turkey for Foreigners
Is Istanbul a good place for property investment?
Yes, property investment in Istanbul is considered a safe and profitable investment, as it is a favorable city by many foreign investors.
Is buying a property in Turkey a good investment?
Property investment in Turkey for foreigners is one of the most profitable investments, due to the huge demand of buying properties in Turkey.
How to multiply the capital by property investment in Turkey?
The capital of property investment in Turkey can be multiplied when you buy a property in a strategical location and rent it or sell it later with a higher price.
What is the best city for property investment in Turkey?
Property investment in Istanbul is considered the best in Turkey.
What is the best time to start property investment in Turkey?
The best time to start property investment in Turkey is always now, never wait for tomorrow because prices may increase any time.
Should I start investing in Turkey by buying a property?
Yes, property investment in Turkey is considered the best and safest investment you can ever make.
What are the benefits of property investment in Turkey?
There are many benefits to start the best property investment in Turkey, such as the low taxes, stable and guaranteed returns, the possibility of obtaining Turkish citizenship, and the consonant increasing of property prices.
Is it a good idea to invest in property in Turkey?
Of course, property investment in considered the best and most profitable in Turkey.
Can foreigners buy property in Turkey?
Yes, foreigners are allowed to buy properties in Turkey, except for some forbidden citizenships.
What are the best investment options in Turkey for foreigners?
The best investment options for foreigners in Turkey are real estate, health, tourism, communication, clothing, and technology.
Do you know what the benefits of buying a property in Istanbul? Contact me to find out why!