Real estate in Turkey
Turkey is a country with one of the fastest growing real estate markets. Since the beginning of the crisis, property prices in Turkey continue to grow steadily. Today, demand is only increasing and the crisis phenomena have almost no effect on the market.
Those who once managed to understand the benefits and made money on investments in real estate in Marbella and Paphos, today rushed to the south of Turkey. The main criterion of success for themselves is the principle "he who is not in time is too late".
Real estate in Turkey in the context of today
The financial crisis has had a minimal impact on Turkey's real estate market. Due to the fact that Turkish banks do not take part in speculation in world currency exchanges, the country's banking system has remained stable. The weak development of the mortgage market in Turkey also played its role, the law on mortgages was adopted only in 2007. Investors, who previously sought to invest in expensive real estate in other countries, are now increasingly turning their attention to more affordable property in Turkey.
The stability of Turkey has played a role. The crisis has not only failed to halt the development of the property market but has also stimulated it. The demand for real estate in Turkey is growing due to investors seeking to invest in stable regions.
The attractiveness of investing in Turkish real estate
The attractiveness of investing in real estate in Turkey. Possible obstacles to the decision to invest in real estate in Turkey.
According to the monitoring of real estate and construction companies illiquidity of real estate in Turkey is very little.
Turkish law is clearly on the side of the investor. Registration of any documents and obtaining Turkish citizenship is much easier than in any of the CIS countries or Europe.
Real estate transactions in Turkey are regulated by the law No. 2644 "About the property" from 03. 07. 2003 and other legislation. According to the 19th article of this law foreign investors at acquisition of the real estate possess the equal rights to citizens of Turkey.
Property taxes in Turkey traditionally change only downwards. At transaction of sale the size of the tax makes 3 %.
Construction in Turkey is cheap, due to the warm climate and the most advanced construction technologies. The competition among construction companies and the high demand for services constantly contributes to the development of construction methods in the direction of cheaper and better quality.
Property prices in Turkey
Today, property prices in Turkey continue to grow steadily. But carefully monitoring the market can find properties at a price one-third cheaper than market value. The availability of such properties due to the need for urgent sale.
Some price fluctuations can be seen in developers who sell real estate for lira. This situation is primarily due to the instability of the bicurrency basket. If you choose the right moment, you can profit from the temporary lowering of prices.
Recently, the property rental market in Turkey has grown rapidly. The range of supply of this market is already very wide due to its high liquidity. For example, in Moscow, the payback period from the lease of the property is 26 years in Turkey on average 16 years.
Investing in Turkish property at the initial stage
A significant portion of real estate in Turkey is traditionally bought at the initial stage. At the end of construction, investors earn handsome profits due to an increase in price after construction is completed.
Early stage real estate investment in Turkey
Such profits can exceed 70%.
In the future real estate in Turkey, is sure to become one of the most popular in the world.
Popular areas in Turkey
Among foreign investors a huge popularity is real estate in coastal resort areas of Turkey on the Mediterranean coast.
Today, according to the General Directorate of Cadastre, more than 73 thousand foreigners own real estate in Turkey. The total area of their property owned by foreigners is 38 million 419 thousand 151 square meters.
Turkey today is a country with excellent prospects and a great future.
Turkey's economy continues to grow and according to some forecasts will soon be among the 12 most developed economies in the world. In Turkey, there is a constant increase in population, the tourism industry is growing rapidly and brings a lot of profit, other sectors of the economy are developing.
In the resort areas of the country for several years continues construction "boom. Living standards throughout the territory of Turkey remains high, despite the crisis phenomena. Living standards in Turkey are comparable with European, while the price of products in Turkey is much lower than in Europe and is comparable with the prices in Russia.
Nature and Climate of Turkey
Turkey - a warm southern country with a great climate and excellent conditions for human life. Turkey's coast is washed by warm seas: the Mediterranean, Black Sea, Marmara and Aegean.
The nature is characterized by a wealth of flora and fauna. In summer, the Turkish coasts are hot: +22 ℃ +33 ℃ and in winter the temperature rarely drops below +10 ℃.