List of Residential Real Estate Investment in Turkey
- Value-added tax
- Notary expenses
Residential real estate investment in Turkey attracts the attention of investors from many world countries. Investors make their existing money even more valuable by investing in real estate that will never lose value. Each option in the property investment in Turkey is a logical form of enterprise. It is possible to find real estate investment options in Turkey suitable for many budgets, with options such as residences, detached houses, or standard flats.
Introduction to Residential Real Estate Investment in Turkey
With the increasing inflation rates, investing in real estate in recent years has become very popular. The increased value of the purchased houses yearly has increased the interest in real estate investment. Investors, especially those who want to earn rental income, started to invest in real estate in Turkey. In this context, houses, villas, apartments, residences, detached houses or flats attract the attention of investors.
With the amortization of their investment, people can sell houses at a higher price and profit while earning rental income during this period. Thus, making profits at every moment of the investment process is possible. Real estate investment in Turkey is an option evaluated by many domestic and foreign investors.
Why Turkey is a Great Place to Invest in Residential Real Estate?
While real estate investment is popular worldwide, many local and foreign people have started investing in real estate in Turkey, especially in recent years. There are various reasons behind this situation. First, foreign investors can buy properties at much more affordable prices due to the exchange rate difference between the Turkish lira and other major currencies. It is a good investment option for investors, especially for people with dollar income, to buy affordable houses in Turkish lira and the value of these houses on a dollar basis every day.
Real estate investment is also very advantageous for people who want to move to Turkey from abroad. People can lead a pleasant life in Turkey with their high monthly income without worrying about rent.
As Semih Property ®, we provide professional support and consultancy about residential real estate in Turkey. We support you with expert approaches so you can avoid problems during the process. For more detailed information about residential real estate investment in Turkey, you can contact us via the WhatsApp line on our website.
Top Cities for Residential Real Estate Investment in Turkey
Regarding property investment in Turkey, certain cities come to the fore. Undoubtedly, Istanbul is at the top place for real estate investment in Turkey. Istanbul is a city that continues to receive immigration every year and is constantly developing. This situation reveals the need for more residents in Istanbul. Real estate investors can find tenants easily if they buy a house in Istanbul to earn rental income.
In terms of residential investment in Turkey, the most preferred regions after Istanbul are the Aegean and Mediterranean coasts, where summer tourism is active. At this point, the first places that come to mind are Bodrum, Antalya, Alanya and Marmaris. Bodrum, a district of Muğla, has become the second after the pandemic period.
Many local and foreign people have moved to Bodrum, and the residential real estate values have increased significantly. In recent years, luxury villas and low-rise properties in Bodrum have attracted great interest.
The Different Types of Residential Real Estate Investment in Turkey
There are different types of residential real estate investment in Turkey. It is possible to find an investment type suitable for the budget allocated for the investment, the purpose of the investment and the expectations for the investment.
The investor pays special attention to the external environmental conditions and the location of the houses for the best investment type. At this point, properties with sea views are investors’ first choice. Such places are ideal for both living in a stylish home and investing.
To find tenants more quickly, the tendency to residence-type houses has increased. Those who want to escape the city center and live in calm and luxurious conditions prefer villa-style single-story properties. This type of real estate has become extremely popular, especially to protect itself from the risk of earthquakes.
As Semih Property ®, we offer investors suitable real estate investment types according to their wishes and expectations. We also ensure that you have the most reliable and profitable investments. You can contact us via WhatsApp for more information about real estate investment types.
How to Choose the Right Residential Property for Investment in Turkey?
There are some issues that people interested in property in Turkey should pay attention to for choosing the right residence. Investors should first examine the deed of the house they plan to buy. Knowing the legal status of the real estate to be purchased is essential.
At the same time, understanding whether the real estate is a condominium or a condominium servitude is necessary. In this way, there will be no disappointments in the future.
The condition of the land on which the real estate is constructed is another issue to be considered. The fact that the real estate to be purchased is in a water basin or earthquake zone may cause undesirable problems in the future.
It should be noted that the real estate is built in a good location and on solid ground. In case of investment in such regions, it is almost impossible to make a loss from the investment to be made. Investors who want to earn rental income can also choose a popular neighborhood for housing purchase. This way, higher rental income can be obtained if the house is rented out.
The house’s square meter to be purchased for investment is also essential. The trend towards homes with small square meters has increased in recent years. Especially in big cities, it is easier for tiny houses to find tenants.
Legal Considerations for Residential Real Estate Investment in Turkey
People who invest property in Turkey are subject to certain taxes. In this case, the title deed fee is determined first by making calculations according to the law on fees. People must pay this title deed fee to take the title deed. In some instances, property sales are covered by VAT.
However, VAT is disabled in exceptional cases, such as Turkish citizens who have a work or residence permit and have lived abroad for more than six months. If individuals are subject to VAT, 18% or %1 VAT is calculated on the sales price.
Some organizations provide financing for people who plan to purchase with credit purchases. According to the financial institution preferred by the investor, obtaining a loan for up to 80% of the value of the target property may be possible. In such cases, the mortgage financing model may come to the fore.
The purchased real estate title is recorded in the land registry system. Every real estate transaction is officially registered. In this way, the investor’s rights are protected by a secure system.
Tax Implications of Residential Real Estate Investment in Turkey
People who want to invest in property in Turkey face various taxes. The following taxes, primarily title deed fees, are included in every property acquisition by individuals.
If the investor disposes of his investment, the rental income or capital gain obtained during this process is also subject to income tax. Each tax mentioned is determined according to specific calculations. In some cases, individuals can get an exemption from the abovementioned taxes. When investing in real estate, it should not be forgotten that taxes should also be included in the budget allocated for investment.
Risks and Challenges of Residential Real Estate Investment in Turkey
While investing in real estate in Turkey, the process can be made risk-free by doing good research and getting support from companies such as Semih Property ®. It is necessary to make a general assessment of whether there is a mortgage on the real estate to be purchased, its zoning status and ownership. Risks related to investment are minimized with research.
If a residence is purchased under construction, it is necessary to ensure that the contractor is financially reliable and legally authorized. A reliable environment can be provided again by thoroughly examining the company and ensuring that the prepayment is made under legal conditions.
The difficulties of real estate investment in Turkey eliminate by getting support from a professional company. Turkey is a country that supports foreign investors. Thanks to advanced registration systems, investors can invest reliably and protect all their rights. With the investments made through proper research and reliable sources, the entire investment process can work quickly.
Tips for Successful Residential Real Estate Investment in Turkey
For a successful real estate investment, it is vital to choose the right type of investment and make it at the right time. Moreover, finding a market in the expansion phase where construction is low but sales rates are high is essential. Real estate investment should be tried to buy real estate at values below the market by doing good research.
Those who will invest in real estate should calculate the additional costs they will face during the investment. If an old real estate is purchased, the maintenance costs to be spent on the interior of the real estate should also be considered. For a successful investment process in Turkey, knowing legislation and legal regulations are necessary. This way, any negative situation will not be encountered during the process.
As Semih Property ®, we ensure you have the most reliable and profitable investments in Turkey. You can reach us via WhatsApp to make a successful real estate investment.
What are the most popular areas for residential real estate investment in Turkey?
Some of the most popular areas for residential real estate investment in Turkey include Istanbul, Ankara, Izmir, Antalya, Bodrum, and Alanya. These areas are known for their high rental yields, strong capital appreciation potential, and strong demand from both domestic and international buyers.