Low cost and attractiveness for investment
It has been quite a while for Turkey to be found in TOP-10 countries to purchase the real estate alongside Spain, Bulgaria, Cyprus and Montenegro.
Each of them has something special, however Turkey has its own number of advantages.
Taxes are comparatively low in Turkey which makes this country quite appealing for lots of foreigners.
Taking into account that there is no need to obtain visa
and the purchase of real estate gives the right to apply for a residence permit, Turkish real estate market
According to the majority of analytics, economical and political development of the country
will become a good base for private and institutional investments from all over the world in long lasting perspective.
Turkish government views favourably the foreign investments as it is seen from the draft laws. Not so long ago it became possible to purchase property by the citizens of a few countries who did not have this opportunity because of restrictions.
There are favourable conditions for the foreign investors. They are given the same rights as Turkish citizens. One of the most profitable ways to invest is to build residential and commercial objects on the sea cost. Mainly, because of the tourists and increasing number of requests about real estate and entertainment.
The economic growth rate in Turkey for 3 years increased up 6.8%, while the average economic growth rate the the countries with is only 2.1%
In a rating created by ULI (Urban Land Institute) in 2008 Turkey was ranked first among the most attractive and beneficial countries for investment. In 2009 it was ranked third according to the investment market.
According to the information about 2013 Turkey was ranked 17th in the list of countries with the largest economy in the world.It has been forecast for 2018 that Turkey is going to be ranked 15th according to the Centre for Economics and Business Research, CEBR .
Everyone can invest in Turkey.
Every year the average cost of housing increases up to 10% which makes your investment beneficial and solid. At the same time the cost of objects by the moment they are accomplished increases up to 30%. Purchasing real estate in Turkey you get a real source of income.
The model of maintenance is easy in Turkey. The customer pays the tax only once. It’s 4% of the cadastral value that is indicated in TAPU.
As the taxes are quite low, the maintenance cost is low too. An average amount the owner of property without special amenities pays is between 30 and 500 euros (in case if you are the owner of a luxury villa with swimming pools, private guards etc). Comparing to the monthly payments in European countries this option seems to be an attractive one.
In addition, as the owner you are given an opportunity to compensate the expenses via renting your property out. The payback periods in Turkey are quite short as the real estate is in demand.
In high season the rental cost could be found within these margins:
A standard 1-bedroom apartment in a middle class house will make around 300-700€ per month to rent it out to tourists.
An apartment with 1 bedroom in a house with hotel amenities will make around 700-1000€ per month.
A 2-bedroom apartment in a luxury house with hotel amenities overlooking the sea
will cost 1000-1500€ per month.
A luxury villa in Turkey makes around 1500-4000€ per month to rent it out.
In case of your decision to rent the apartment out we are ready to assist you in tenancy management.
Rent your apartment out with Profit Real Estate and we make sure you get good income.