In recent years, the growth in the construction sector has paved the way for the real estate market to move and the realization of many real estate projects.
Large investments in the construction sector, which became the backbone of the economy in the big cities of Turkey, have caused many regions in need of transformation to gain value and new silhouette of the cities. The developments in the real estate market attracted the attention of many people and acted to be the host of these projects designed to meet the needs of the day and promised a new life. Apart from the interest of the citizens in Turkey, many foreign investors have started to invest in Turkey because of these projects which are considered as opportunities for foreigners looking for real estate for sale in Turkey.
Foreigners Interested in The Istanbul Real Estate Market
Istanbul, the most crowded city in Turkey, is a city where property needs are constantly increasing in proportion to its continuous migration. Property prices vary according to the region and properties of real estate in Istanbul, the province where the land prices are highest. Foreigners are very interested in the Istanbul real estate market, which most people follow for investment purposes. Istanbul, the most touristic city in Turkey, is one of the most beautiful cities in the world for many foreigners. Especially for foreigners from the Middle East, besides its historical beauties, shopping and entertainment opportunities make Istanbul indispensable. In addition, providing investment opportunities in terms of being a cheap country encourages foreigners to invest in Turkey. Real estate and consultancy companies for foreigners seeking an apartment for sale in Istanbul, which is one of the most important cities in Turkey where foreigners are most interested, provide services and guide investors.
Buying a home in Turkey giving foreign citizens
In recent years, there has been a significant increase in the number of foreign investors in Turkey. In particular, the demand for real estate investments from citizens of the Middle East countries is increasing day by day. Arrangements of Turkish authorities regarding the acquisition of real estate by foreigners in Turkey are also effective. The advantages provided by foreigners in exchange for obtaining housing allow foreign investment to become attractive and attractive in the country. In particular, the law on granting citizenship rights in Turkey for foreigners investing in real estate, which was adopted in 2018, aims to increase these investments. According to the latest regulation, the foreign investor who buys a house worth $ 250,000 in Turkey will be able to obtain the right to citizenship. The only condition for this is that he has made a commitment that he will not sell his residence for three years. This commitment is made by adding a description to the deed. The foreign investor and his family who meet these conditions will be granted citizenship within six months.
Foreigners' preferences in home purchases
Investors from countries such as Iraq, Saudi Arabia, Kuwait, and Qatar usually buy housing in Istanbul. Most of the areas where the investment will be valued are preferred but new settlements are preferred. For those who want to keep the pulse of the city and want to invest in larger budgets, Istanbul's old long-established districts look more attractive, while for those who do not compromise the subject of landscape, nature, and comfort of the house, it seems to be more interesting. In addition, the Boğaziçi residences, which are famous for being admired by all the local and foreign people, are among the important regions in which foreigners have invested in recent years.
Last Updated: 4/9/2019 1:28:24 PM