You may have heard about, or read in the press, that Turkey is one of the upcoming countries in the world, when it comes to investing in Real Estate.
If you are asking yourself the question of “should I buy property in Turkey?” we can answer that. As a real estate agent with offices all around the country and plenty of years’ experience, our in-depth knowledge of the market includes current trends, making an investment, moving here, buy-to-let rentals, or simply owning a holiday home for family vacations.
Some headed to Istanbul, the country’s most prominent city for business, education, and tourism, while many others purchased in the Aegean and Mediterranean coastal resorts like Antalya, Bodrum, and Fethiye. So, let’s look at the reasons why people buy Turkish real estate.
Turkey’s unique and strategic location has created an efficient and cost-effective hub to major markets giving easy access to 1.5 billion. This has attracted worldwide names such as Toyota, Ford, Nestle and Hugo Boss, all of whom have chosen Turkey as a hub for manufacturing, export and management. Such investment creates employment for the increasing number of young, well-educated citizens of Turkey, a result of the rapid expansion in the number of universities in Turkey, creating a dynamic and educated workforce.
Buying property in Turkey is a very quick and straightforward process and is available to citizens of 129 countries. There is no Capital Gains Tax in Turkey if you keep your property for 5 years and foreign buyers are also exempt from VAT on a first home purchase, when buying with foreign currency.