Steps to Buy Property in Turkey in 2022

Buying a property during these difficult financial times is one of the best decisions a person can make. Buying a property in Turkey in 2022 is the right decision to save on your investment.

Today, Turkey ranks first in export volume, replacing China and the EU from the first position; in heavy industry, Turkey plays an important role in the manufacture and export of heavy weapons and transport ships.

Today, Turkey exports to many developed countries such as Denmark and Norway, and has become one of the third world countries known only for imports and consumption.

At the political level, Turkey has become one of the world's decision-makers and has achieved stability and security for its economy.
This makes it an attractive destination for foreign investors to invest and trade, especially after many foreign laws have been changed to create dual benefits.

Recent Legal Changes to Buying Property in Turkish Law

1. Granting foreign investors Turkish citizenship by purchasing property in Turkey or deposit money in Turkish banks.
2. VAT exemption, VAT for foreign investors
3. Commercial and industrial establishments of foreign investors
4. Obtaining a residence permit for real estate in Turkey for foreign investors

Many attractions are built on solid foundations, all of which have doubled the demand for property purchases in Turkey.

According to the latest statistics from the Turkish Statistical Office, by 2021, more than 2 million properties have been sold to foreigners in many major cities in Turkey, such as Istanbul, Izmir, Antalya and Turkey's political capital Ankara.

But the key question is, what is the most suitable way to find the ideal property in Turkey? If settling or investing in real estate in Turkey, what are the specifications of the relevant property?

In this article, Property Superiors will provide you with a step-by-step and comprehensive guide on how to buy a property in Turkey in 2022:
First: The purpose of determining Turkish real estate ownership:

Before starting a property search in Istanbul or any Turkish city, it is necessary to determine the purpose of buying a property in Turkey and specify the type of property you are looking for.

1-Types of real estate foreigners can buy in Turkey:

A-Residential Apartments in Turkey

Apartments in Turkey are divided into two categories; the first type of properties suitable for foreigners are those that are equipped for families such as international schools, universities and large shopping malls.

In addition to a solid foundation that enriches and supports homeownership in Turkey, well-developed infrastructure such as B. transport that facilitates accessibility.

At the same time, rental demand will increase, making it more attractive to households and investors. Residential apartments in Turkey are located in important cities such as Istanbul, which includes more than 32 cities, many of which are suitable for families living in Istanbul.

Residential apartments in Istanbul are known for their spacious interiors and are located in residential areas with all in-room services and facilities, making them an important attraction for buying property in Turkey for living purposes.

B- Commercial Real Estate in Turkey

The second type of residential property in Turkey is an investment property; it has several specifications that make it viable for investment.

Small interior spaces of furnished apartments are invested in through tourist rentals, which can achieve a high return on investment of up to 15% of the property value per annum. This investment property is usually aimed at university students, employees and tourists who come to Turkish tourist cities such as Istanbul, Izmir, coastal Antalya, mountainous Duzce and many other Turkish cities.

The second way to invest in a housing unit is to repeat the resale process to obtain an investment return of no less than 150% from the added value of the property. Profits of up to 200% are added to the original property value.

2- Commercial Real Estate in Turkey

Commercial real estate in Turkey comes in the form of offices, shops or logistics warehouses. Perhaps the most important benefit of buying commercial property in Turkey is the supply-demand conflict. The real estate market is in high demand; however, available inventory is not included. The commercial real estate market in Istanbul is in trouble.

At the same time, in addition to very high commercial rents, commercial property rentals generate high returns of at least 16-18% of the property value each year, in addition to the possibility of high investment returns. Resale from commercial real estate.

3-Turkey Tourism Real Estate

There is no doubt that Istanbul's real estate market offers endless possibilities. Villas in Istanbul are considered to be one of the most viable investment opportunities the market has seen recently; they are in high demand due to rich designs, breathtaking views and high-end services, including quirky interiors and elegant exterior architecture.

With the huge demand for buying property in Turkey, the opportunity to buy a villa in Turkey has become an important opportunity for many investors to live or invest by renting out to tourists.

Demand becomes even higher when villas are located in Turkish cities in tourist areas with sea views or in picturesque green spaces in countless incredible Turkish cities.

4- Agricultural Land

Buying agricultural land in Istanbul has emerged as a potential investment option in the Turkish real estate market.

Especially after foreigners are allowed to buy land in Turkey, regardless of the purpose of the purchase or possible mode of operation, many licenses can be obtained, whether agricultural or commercial, aimed at building commercial projects or residential complexes.

However, the main difficulty foreign investors face when buying land in Turkey is knowing the right place to buy in the first place. Therefore, Property Superiors provides a complete study of each location, past and present market value, obtains all necessary licenses and guides you through all stages until you reach a safe place to invest in Turkey.

Identify the right type of property, be it a residential apartment or a commercial office, by setting the goal of buying a property in Turkey from the start.
Therefore, the remaining steps are to handle all legal matters related to money transfer and extract the notarization of legal documents.

However, it should be noted here that starting from the first stage, around market research, determining purchase goals, choosing a suitable property and handing over the keys to the apartment, the property supervisor will guide you step by step, contact you to draw the first start with you today.