The real estate sector in Turkey continues to flourish day after day, achieving remarkable results in numbers, which encourages investors to enter this field and invest their money in it due to the many benefits they will receive.
It is necessary to answer some questions that come to the minds of many who wish to buy an apartment in Turkey to obtain a safe and secure investment by buying a property in Turkey, along with obtaining Turkish citizenship based on owning a property and obtaining Real estate residence and other matters related to buying a property in Turkey.
Why choose Turkey to invest money, especially in the real estate sector?
It is known that Turkey has become a destination for many people in business and investors, not only in the real estate sector but in other fields. What encourages them to do so is the facilities the Turkish government provides. The most important thing is the exchange rates of the Turkish lira against hard currencies, which is considered one of the most important factors that encourage investment.
The real estate market and the demand of investors of all nationalities cannot be ignored, whether buying ready-made or under-construction properties and investing in them. What encourages them to do all this is the distinctive architectural style of residential projects, the strategic location, and the infrastructure and services for the various areas in which they are distributed. Real estate, including tourist areas, on top of which are distinguished tourist cities, such as the cities of “Yalova, Istanbul, Bursa, Antalya… and others.”
What are the most prominent cities in which it is recommended to enter the real estate investment sector?
There are many regions and cities, and each has positive features and benefits. Istanbul is one of the favorite cities for many investors because it has many investment opportunities in the real estate sector and others.
On the other hand, there are other cities, such as the city of “Yalova“, for example, which enjoys an important strategic location due to its proximity to Istanbul, in addition to its location overlooking the Sea of Marmara. It contains many distinctive tourist and historical attractions and distinctive residential complexes that consist of Typical apartments to suit all tastes.
Here it is worth noting “OmranTrk“, the company with distinguished real estate projects based in “Yalova“, models and projects which were presented during the “Musiad Expo 2022” exhibition, which the Association of Independent Turkish Businessmen organized “MÜSİAD.”
– What are the most prominent benefits of buying real estate in “Yalova”?
There are many benefits and privileges that the investor or any other person who wants to own a property in “Yalova” will obtain, especially since “Yalova” has become an important tourist and investment destination for many.
One of the benefits of buying a property in “Yalova” is that investors from outside Turkey can buy a luxurious residential unit with high specifications of luxurious furniture, marble cladding, luxurious decorations, parking lots, modern technologies, and luxurious social services.
The city also offers those wishing to reside and settle in it a comparative advantage regarding comfortable living with a budget commensurate with everyone’s income.
Is it possible to invest in real estate for the long term in Yalova?
Of course, it is possible because of the many financial facilities that make the investor choose the financing option that best suits their situation, and that will provide them with obtaining the best suitable real estate option for them and with simple and safe facilities in the real estate field. The real estate in Turkish “Yalova” provides investors with preferably a good rental income throughout the year.
-Some say that the property in “Yalova” has excellent value for money; what does that mean?
No one denies this matter, but the value is not only related to its property, but thanks also to its ideal climate for those looking for a quiet and healthy life, with its location close to Istanbul, in addition to the excellent transport links where a modern and developed transportation network is available, and thus it is possible to move from one place to another easily, in addition to its hot springs, which makes owning a property in Yalova something preferred by Arab and foreign real estate investors as well. For this reason, it has become very popular with Arab investors due to its location overlooking the sea and its green spaces.
Can I buy real estate in Turkey in general and “Yalova” in particular through the Internet?
Turkish law allows foreigners to buy real estate inside Turkey remotely, without the need to come in person, through regular procedures that are guaranteed by the side, as the Turkish Statistical Institute documented the purchase of more than 100 thousand homes in Turkey via the Internet within only a month and a half after the approval of the “Tabu via The Internet” in 2020. More than 351 thousand real estate transactions were completed during the period mentioned above, and foreigners in Turkey had a share of “online” real estate sales of about $100 million.
How can one deal with a reliable company to start owning a property in Turkey?
This question is considered one of the most important questions for many, especially since many companies are working in this field, which makes the investor or whoever wants to buy an apartment in Turkey confused.
However, despite this, it is possible to reach a company with a good legal reputation. The investor can visit any real estate company and see its offers and get acquainted closely with its franchise and its mechanism of work by dealing with it face to face; the investor can verify the legality of the work of this company.
Here, attention must be drawn to the “OmranTrk” company, which is distinguished by the testimony of its customers for its offers and performance and the extent of its commitment to providing all facilities to complete the ownership process from the moment of purchasing a property in Turkey until the moment of handing over the title deed “Tapu” to the investor.
How to obtain real estate residence and/or Turkish citizenship?
The short-term residence permit (granted for one year, subject to renewal) is granted by the Turkish authorities to a foreigner who owns immovable money (residential property), provided that it is used for housing.
However, the foreigner can grant his family (one wife and all his children under eighteen) “family residency, “not real estate.
Regarding renewing the real estate residence permit in Turkey, it is sufficient for the property to be registered in the Land Registry Directorate in the property owner’s name for the residence permit to be renewed accordingly.
As for Turkish citizenship, there are several conditions, most notably: real estate investment (buying a property), for an amount of no less than 400 thousand dollars, for at least 3 years according to the new amendment, but on the condition that the property is not sold within 3 years, or building buildings or ground services.
And the foreign currency is deposited in advance and transferred to the real estate registry for three years, and the Ministry of Environment, Urbanization, and Climate Change determines that the sale of the property is pledged according to a contract drawn up at the notary or issuance of the title deed (Tapu).
How can the process of owning real estate in Turkey be generally facilitated?
It is very important to choose the city and location of the property with great care and determine the purpose of the purchase (residence or investment), and also make sure of the profit margin that you achieve from the property if the purpose of the purchase is (investment in Turkey), and it is also important to study the prospects for development The region in terms of infrastructure, facilities, and future price increases. It is also important to ensure the legality of the title deed and to confirm the owner of the property.
Does inflation affect the payment of real estate instalments in Turkey?
Buying real estate in cash is the best option for real estate that is much cheaper than real estate purchased in instalments since the difference in inflation is added to the instalments later.
In general, instalment purchase contracts are subject to the inflation difference, whether these contracts are with the real estate company, the bank, or any financial institution that agrees with the investor the buyer directly, and because the real estate market in Turkey is the most developed in recent years, which positively affects the increase in the value of the property day after day, and what has the potential to increase the profits of the investor even if the value of the instalments increased due to inflation in Turkey.
What is the future of real estate market prices in Turkey and Yalova?
It is noted that the current period is also witnessing an increase in real estate prices in Turkey, and the reason for this is due to the high demand that followed the pandemic, which confirms that there is a great opportunity now to achieve high profits by investing in real estate for years to come.
In this period, it became clear that the ever-rising trend of real estate prices in Turkey attracts the appetite of money holders aspiring to achieve great gains in short periods, especially in the face of the crises afflicting the stock market and the current collapse in the world of cryptocurrencies.
The time in this current period is considered one of the most suitable times for buying and owning real estate in Turkey, especially since no reason will force prices to drop soon, in addition to the fact that historical data shows the value of real estate is constantly increasing.