Real estate prices in Turkey are lower than in most European countries, and they are suitable for all budgets, with many facilities and incentives that make investing in Turkey an exceptional opportunity in the current situation, outweighing the option of owning and investing in Europe, especially given the Turkish economy’s remarkable development and growth.
In contrast to the facilities provided by the Turkish government to investors in this field, many negative factors play an important role in impeding those who want to invest in the European real estate sector.
One of the challenges for those looking to invest in the European real estate sector is the inability to obtain a real estate residence permit due to the high prices in Europe compared to Turkey. Directly.
One advantage that distinguishes Turkey is the numerous taxes associated with real estate investments. If there is no tax reduction, they can reach 9% of the property’s value in some cases, as in Italy.
In addition to all of this, if the foreign investor wishes to complete the process of purchasing a property in Europe, there is a difference in the social environment between our eastern societies and the European society, as well as the cold or very cold climate of the European continent on most days of the year, with a short summer, except for the part overlooking the Mediterranean Sea.
Turkey is distinguished by many elements of investment and tourism attraction, including natural elements, which are represented in the geographical location that influences and influences the climate, as well as the diversity of the tourist environment, which includes seas and forests and the diversity of living creatures in them, as well as historical and cultural elements, for those interested in visiting antiquities and related things. With a civilisational history, social and religious elements, and, most importantly, economic success as a country to invest in.
Surprisingly, the price of one square meter in the Turkish real estate market is significantly lower than in European countries. The cost of living in Turkey is more than 50% higher than in those countries.
The buying and selling facilities in Turkey reduce the amount of paperwork, time, and effort required to complete a property purchase transaction in just one day.
We discover laws in Turkey that allow investors to obtain residency in exchange for purchasing property in Turkey, a practice known as real estate residency. This residency is granted to the property owner and his family members, including a wife and children, and is renewed annually. For investments of $400,000 or more, the investor has the right to obtain citizenship directly.
Turkey is distinguished by a high level of cultural and tourist diversity, owing to the expansion of its geographical area and a development in its structure and lifestyle comparable to that of Europe.
Turkey’s climate is considered more temperate than that of Europe in general, which contributes to the vitality of its tourist industry. Living there is a better option than in many other European countries.
It is worth noting that Turkey was ranked as one of the best countries to own property in 2019. In addition to the expansion of tourism in Turkey, it has been accompanied by strong economic growth and the availability of appealing tourism and investment opportunities.
The returns on real estate investment in Turkey, which are of two types: rental and investment, are one of the most prominent features of Turkey, as they result from the rise in real estate asset prices over time.
The true goal of real estate investment in Turkey is the capital gains from rising real estate prices.
On the other hand, Turkey outperforms the United States of America in the field of real estate investment due to a variety of factors and differences, the most notable of which is that the Turkish real estate market is very promising, especially with the existence of the “urban transformation in Turkey” plan, which includes the restoration, reconstruction, and rehabilitation of millions of housing units, as well as the construction of hundreds of residential complexes.
While the American real estate sector suffered from terrible stagnation, causing prices to double due to a lack of demand for purchasing real estate in America, this stagnation continued between 2013 and 2017. Furthermore, many barriers stood in the way of Arab real estate investments in America, particularly after Trump’s decision to restrict travel permissions for several Arab countries. This was a major factor in turning Arab investors’ attention away from America and toward Turkey.
There are also many options, and investment offers in Turkey that compete with American real estate offers in terms of ease and ease of ownership and obtaining them from the beginning and ending with real estate marketing and investment in any way.
Real estate experts confirm that real estate investment laws in the United States are somewhat complex, particularly in the state of New York, which is more required, as it contains gaps that may force its owner to pay a property tax of 45% of the total price; however, real estate ownership laws in Turkey are simple and straightforward, especially with current incentives, where a foreigner can apply for Turkish citizenship.