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How to start Your Property Investment in Turkey in 2022?

property investment in Turkey 2022
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According to the notable revolving process Turkey is witnessing, various global citizens are moving assets to Turkey to invest in the Turkish real estate market in Istanbul or other megacities. 

Property market in Turkey subsequently has become one of the influential poles in terms of global competition, and competitive alternative in terms of strategic geopolitical location, plus the market value and its sophisticated infrastructure and many other robust, attractive fundamentals.

However, what are the conditions for making a successful real estate investment in Turkey? What are the essential steps to reaching a profitable real estate investment in Turkey?

In this article, we discuss the steps of buying a property in Turkey, and gaining privileges, whether to get the Turkish citizenship as a foreign investor or a Real estate residence permit in Turkey, and another acquired benefits for the foreign investor from buying a property in Turkey:

 

Buying a property in Turkey for Investment 

Before completing any trade or real estate investment in Turkey, there’re numerous criteria that foreign investors must primally consider to avoid any obstacles or unpleasant surprises that would totally change the game to the contrary of the investor’s favor, for instance:

1- Preview the KPIs of the Property Market

The rate of rising purchasing value’s development of real estate in Turkey is an essential indicator of the effectiveness of investment performance in the Turkish real estate market.

In addition to demand rates, annual and monthly rental rates are important indicators that it is essential to review before determining whether to buy an investment or residential property in Turkey.

2- Examining the Related Foreign Investor Laws

Evaluating laws related to foreigners’ affairs in Turkey is one of the steps that must be carefully reviewed, given its weight in determining the development fate of real estate investment in Turkey in the long term,

Plus, the laws and protocols related to foreigners to the future economic situation in Turkey, which is robustly associated with the mega infrastructure of Turkish government projects, which is closely related to most of the variables of the real estate market in Turkey in terms of value and performance.

3- Analysis of the real estate market value in the past 10 years

It’s essential to review the real estate market value report in Turkey for the last ten years before deciding to buy a property in Turkey.

The ascending market value refers to the linked relationship with the changes in the country’s economic situation and the extent of the domestic and foreign policy’s impact on the performance of the Turkish economy.

Thus, given the government figures and statistics, the foreign investor will be able to choose the cities or municipalities that correspond to the budgets for real estate investment in Turkey, in addition to measuring the success and development of the Property in the next ten years.

4- Draw a suitable investment plan for your property

Examining the foreign investor’s market value, laws, and market history help specify the path to buying the right property in Turkey.

Therefore, in the next step, the implementation map must be drawn up according to several mentioned factors, the most important of which are:

1 Designated budget and the purpose of buying a property in Turkey

Buying a property requires the foreign investor to have a specific budget for real estate investment;  for instance, if the primary goal of owning real estate in Turkey is to obtain Turkish citizenship, $400,000 would be a Min fixed budget.

 

2- Specified investment timetable

Time is the most important factor in the real estate investment journey, so drawing a fixed timetable and determining the investment purpose would shape the main features of the real estate investment in Turkey:

The branching of real estate investment in Turkey into several methods, which achieve prominent profit for the foreign investor within the Turkish real estate market:

  • The first method:
    Resale:
     foreign investors can achieve a profit of two or three times when reselling the property, which is chosen primarily to suit the investment plan through resale, after considering the previously mentioned factors.
  • The second method:
    Leasing: Due to the economic and population boom in Turkey, especially in the big cities, the rates of monthly and annual rents have dramatically increased, reaching more than 8-9% of the property value annually; therefore,  foreign investors should choose the properties they want to rent wisely. This will guarantee a successful property investment in Turkey 2022. 
  • Find the Perfect Location
    Selecting the accurate location comes at the fifth stage of making a profitable property investment in Turkey 2022, which depends on all the mentioned elements that determine the goal, market value, and market history. Choosing the location starts by choosing the City then the municipality, which determines the type of the property you should buy.
  • Find the Best Real Estate Consultant
    Ultimately, all that we have explained in this article sounds challenging for foreign investors to accomplish unless finding a trustable partner along the journey. Here we are referring to real estate companies and both developers and construction companies in Turkey.

Due to the great demand in the market, the number of real estate companies increased notably; finding the perfect partner must be through achieving a safe and successful property investment in Turkey 2022.

Maximum Property has more than ten extended years of experience in the Turkish property market; we can guarantee you a safe journey towards finding the right property for you.

Maximum Property has a qualified team that is always ready to provide all legal and real estate consultations for you and your family; contact us today to draw the flourishing beginnings together.

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