Turkey Bying Property Guide

buy property in turkey

Reasons to Buy Property in Turkey

Excellent Price Per Square Meter for buying a property in Turkey

 An esay Process for buying property in turkey :  the process of  buying home in turkey can be finish in one week and we are with you every step of the process from A to Z

Buying property in turkey with payment plan :  If you want to buy an off-plan home in Turkey , you can also tap into the payment plans . in some cases, you have up to 3 years to pay for your new home in Turkey but can move in and sign for the TAPU title deeds before , this is also a great investment because there is 0% interest to pay

Low Cost of Living in Turkey

Easy Access to the Turkey :  Whether you can choose to arrive in Turkey by air, land or sea

 Turkish Citizenship by Investment in Turkey property

Strong rental demands in Turkey

 

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The Turkish Economy and Real Estate Market in 2018

Over the last few years Real Estate has been experiencing a growth and economic stability in Turkey and many investors and buyers are looking at the benefits of their investments in Turkey

The Turkish Economy is experiencing a growth and incentive in opening up the real estate market to foreign buyers in a way that benefits its growth, social, economic, financial and long term stability which allows migrants to enjoy and benefit from the experience of settling in a country with such benefits.

Economic Achievements of Turkey in 2017

 Foreign direct investment finished the year at 7.4 billion USD

 FDI from European countries increased by 2.4% year-on-year

 Turkey is expected to register an annual growth of 7% for the year

 Production of crude steel rose to an all-time high of 37.5 million tonnes

 Exports increased by 10.2% to 157 billion USD

 The Borsa Istanbul broke records to reach an all-time high

 House sales rose 5.1%, while sales to foreigners increased by 22.2%

 Turkey’s tourism revenue rose 18.9% to 26.3 billion USD

 The Turkish economy was the fastest growing out of all the G20 countries

Turkish Medium-Term Program – 2018 to 2020

So, with a mass of stellar achievements in 2017 as well as a clear set of guidelines on areas that they need to tackle, many are predicting how the Turkish economy will perform in 2018. Bloomberg has already cited Turkey as an attractive merging market alongside Mexico.

The Turkish government is also expecting a 5.5% growth, that will occur from the services, industrial and agricultural sectors as well as an expectation that tourism figures could well return to earlier record-breaking statistics. At one point, the tourism industry became the sixth best performing in the world.

While it would be easy to paint a utopian picture, Turkey still has challenging work ahead if they want to achieve their 2023 vision plan of being one of the top performing economies in the world. The medium-term program for 2018 to 2020 focuses on areas of the economy that are underperforming.

Produced every year by the Development Ministry, approved by parliament and including a three-year outlook, the MTP will concentrate on unemployment, account deficit and more importantly, inflation of which the Deputy Prime Minister Mehmet Simsek has said is top of their list of priorities in 2018.

Inflation: the target inflation rate for the Turkish economy in 2018 is 7%, a decrease in the current rate of 9.5%. Tax adjustments, monetary policy, and guided prices are expected to help them achieve this. They are also predicting stability in the Turkish lira import prices to aid this.

Unemployment: One of the most significant problems to tackle is the current unemployment rate of which they aim to decrease to 10.5%. They will focus on high-quality jobs as well as the quality of the labor force to achieve this.

The Turkish Real Estate Market in 2018

One major contributor to the economy has been the housing sector, and the rebound it saw in 2017, could happen again in 2018

Earlier the Turkish government introduced several incentives to help the real estate sector in attracting foreign investors, and these include the VIP Turquoise card system as well as exemption from paying Vat, according to specific terms and conditions.

In 2017, foreigners bought 22,234 homes, and one of the most popular areas for them was the eastern Black Sea district that saw a staggering rise of 155% year-on-year, primarily from Middle East buyers.

The districts of Istanbul and Antalya also saw a rise in foreign purchases and all indications are that this stream of foreign income will continue into 2018 given the excellent exchange rate between Turkish lira and other currencies.

One development to watch is called by industry experts to drop the required real estate purchase limit for citizenship from 1 million USD. The amendment to the law, passed in January 2017, was welcomed by some but many cited the required investment amount as too high, and the government needs to lower this amount to attract more interested parties.

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