Straightforward Facts: Is Turkey's Real Estate Market Overpriced? Why Isn't

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Purchasing a property overseas might be tricky and, in some cases, costly and simultaneously useless, regardless of the purpose, housing, vacation house, or investment. And therefore, they're several crucial points to consider and analyze that allow us logically to determine whether the purchasing destination is overpriced or not, worthy or a waste of time and money; meanwhile, we are informing about the Turkish real estate market's prices, capital appreciation, and the offered values on the long-term the businessman would gain.


The generic features of worthy real estate property:

1- Purchasing value:
Clients mostly assume the Purchasing value is the determining factor that illustrates whether the property overseas is affordable or not, however, but actually that not logically valid and analytically as well, because, in Italy, the European paradise, the real estate market can offer you cheap property appropriate vacation house, yeah we can consider Italy good option, but let's take a quick analytical look over the Italian economy, that has been suffering for a while and crumbled continually, the property will be affordable. Still, in the extended long term, the property itself is useless. At the same time, the resale will decrease in terms of purchasing value; Also, if we want to consider leasing as an investment source, we will find it a good idea while Italy is a tourist destination.


However, here we're speaking about inexpensive property out of downtown, that is mainly required for housing by the locals, as registered, Italy recorded the lowest rank of population density in Europe, where the proportion of over 60 years old reached 40% of the total population of Italy, which means that the availability of supply is robust, while the demand is dead, within the real estate rental market, and here we encounter that cheap real estate can't always be profitable, on the contrary, it may cause financial harm to its owner.

In Turkey, we're experiencing the opposite situation, high population density in all Turkish cities, the real estate market in Turkey, offers a variety of options, at competitive prices, the demand is very high considering that the Turkish economy, a rapidly growing young economy, provides unlimited investment opportunities and supplies, which makes both resale and rental, Even housing in Turkey is a brilliant idea, based on a rapidly developing infrastructure, and an economy that is the strongest among the G-20.
 

2- Legal procedures and tax:
Legal procedures and taxation system might cost you after finishing the purchase process a very high weight, without providing any opportunities for further advantages such as obtaining another citizenship, or full ownership for a lifetime, with the right to inherit the property as a foreign owner, for example, the real estate market in Dubai, in particular, is the strongest and most competitive within the Arabian Gulf region; however, the UAE does not grant foreign investors Emirati citizenship by buying a real estate property, in addition to the fact that the ownership of the real estate in the United Arab Emirates is not for a lifetime, the ownership period ranges between 90 and 97 years for the foreign investor, which means that the property is not It is endowed to foreigners, apart from the presence of a lot of real estate expenses and taxes on the property itself before and after purchasing process.

While in Turkey, property ownership for a foreigner is for a lifetime, the property is inherited; in addition, when a foreign investor buys a property worth $250,000, they're entitled to obtain Turkish citizenship as a foreign investor and to grant citizenship to his wife and children as well.

As for real estate expenses and taxes, there are numerous tax exemption laws for foreign investors in Turkey, even compared to the GCC countries and Europe. That illustrates the attracting policy of foreigners to invest in Turkey in various sectors, given that the Turkish economy is a strong emerging economy.




3- Value and cost of living:
(integration – the cost of life in Turkey)
The image of moving to Turkey is an adrenaline boost in veins image; even though we love life in Turkey, that is full of surprises and successful opportunities. Still, Turkey is too much similar to what we watch in Turkish series and movies that reveal the peaceful nature, the developed modern lifestyle, meanwhile the negative aspect that is not easily discovered until you live it yourself.

For instance: the cultural shocks, the language barrier, the social merging, and a lot of other things that might concern you, but also compering Turkey to surrounding countries we'll find that the nature of the followed ideology been established as policy towards foreigners, made Turkey a favorable target, due the social, political, economic exist former environment, that makes you feel yourself home, on the contrary, what foreigners are expressing in Europe currently, the hate towards specific nationalities and races is dramatically increasing, that what made the image of moving Turkey not Europe, a non-discountable idea, and simultaneously affordable in all the different aspects.



4- Building your own home in Turkey:
Many customers aspire to build a house to create their signature, especially when it comes to the vacation house you always dreamed of. Still, the difficulties that might face you extracting building permission or finding the best developer would stop you and even push you to abandon the entire idea.
However, in Turkey, the issue is way more possible, manageable and affordable than you imagine, while there're uncountable trusted agencies that work on launching the journey with you from scratch till you receive the key to your dream house.



And as Turkey Advisors company, we're ready to serve our customers the way they deserve; we follow a specific strategy that illustrates the steps of building you the design you aspire for:

1- Find the appropriate land compatible with your budget in an accurate location.
2- Extract the building permit from the municipality, thereafter extract the title deed,
notarize it and register it under the owner's name (Legal stage – Taxation)
3- Finish the payment procedure and transfer the assets to the new owner.
4- Put a draft of building elements: plan the external-internal architecture,
select the materials of construction, choose the furniture
5- eventually, start building what you always dreamed of with our unique signature
 that reflects the combination of the premium sense of luxury.



It is worth emphasizing that the budget of constructing your own house in Turkey won't be cheap or a piece of cake frankly speaking, however by comparing building your property within the Turkish market to Spain's real estate market, for instance, will find that Turkey easily would beat Spain, in terms of expense, the right of the ownership as a foreigner, plus the accessibility to Spain that mainly needs a visa for many foreigner nationalities. While in pretty majestic Turkey, the cost of supplies, labor force, construction itself is lower than the charming paradise of Spain.



Ultimately, the illustrating list will go on and on; we're aware of the sensibility of the new stage of constructing a totally new life, but as long as Turkey Advisors as experts of real estate in Turkey, life in Turkey, are beside you, no need to worry about the next page, our professional team will always be ready to assist you in finding the most refined and most luxurious property in Istanbul, apartments or villas nearby the sea, luxury properties, or commercial type, make sure that we're glad to give you what you deserve and expecting for in your future hometown.