What Makes Real Estate In Turkey So Attractive?

Turkey has become one of the most popular tourist destinations in recent times. Its rich culture, great number of tourist attractions, the sights, the eastern atmosphere, national cuisine and, of course, the mild Mediterranean climate are truly captivating. However, Turkey attracts not only tourists, but also farsighted investors. Investments in Turkish real estate are considered to be one of the most profitable types of capital investment. The European coast, mild winters and long-lasting summers are probably the explanation of such huge popularity of residential and commercial real estate.

Why it is profitable to buy real estate in Turkey? Experts affirm that investment in real property in Turkey provides many benefits:

  • Mediterranean climate that attracts thousands of tourists every year
  • Perfect ecological system: forests, mountains and fresh air
  • Turkish sandy beaches were awarded The Blue Flag for their high environmental and quality standards
  • Advanced urban infrastructure allows to live comfortable
  • The Turkish real estate market offers affordable prices compared with other countries
  • An average annual increase in house prices reaches 15%. This makes the investments profitable.
  • This property could be leased. Renting out a property is a great income opportunity.
  • Inexpensive maintenance (the purchase tax is only 4% of the purchase price)
  • The opportunity to buy property on low rate credit
  • Comparatively low prices of consumer goods
  • Residence permits for real estate owners
  • Fairly low crime rate in the country

Thus, thanks to the resort climate and affordable consumer goods, owner of property in Mediterranean coast can have a perfect life.

Investment projections. The Government of Turkey look favorably upon foreign investments in the economy of the country, as the amendments to the bills demonstrate. Not so long citizens of some countries that had previously been forbidden to purchase real estate in Turkey were allowed to do so.

The country provide favorable conditions both for local and foreign investments. Construction of residential and commercial real estate is considered to be the most profitable investment. Basically, this is due to a substantial increase in the flow of tourists and a high demand on housing. The indicator of economic development in Turkey for 3 years is 6.8%, while the same indicator of OECD countries reaches only 2.1%. According to ULI rating Turkey took the first place among the most attractive and profitable for investment countries in 2008. In 2009 Turkey was on the third place in a profitable investment market. These makes Turkey potentially profitable place to buy property.