in the last 10 years, the Republic of Turkey has embarked on huge investment programs in infrastructure development, investing more than $ 90 billion in an important number of transport infrastructure projects. The Ministry of Transport and Communications recently announced its intention to invest $ 64 billion In infrastructure projects such as bridges, highways, tunnels and airports and will complete some 3,500 new investments in the country, making Turkey home to huge foreign capital and making it a major investment destination.
On the one hand, the Turkish government is working hard to highlight Turkey’s growth experience and attract foreign capital through large-scale projects in modern industries and technology. On the other hand, the largest economic institutions are bringing the largest real estate companies in the world to invest in Turkey and develop the real estate sector to become One of the world’s largest and fastest growing real estate destinations, and 2018 will be one of the best years of real estate investment in Turkey.
What are the advantages of buying a property in Turkey in 2018?
The real estate sector in Turkey has gained unprecedented attention in recent years. The number of properties sold to foreigners increased in late 2017 and in the first month of 2018 compared with the same period last year. This interest in the Turkish real estate market is due to the fact that Turkey or Istanbul as a global capital Of major development projects such as the new Istanbul Canal project and the surrounding industrial islands, Istanbul’s third airport, which will be one of the largest airports in the world and other projects which will make Istanbul the best place to live.
The Turkish real estate sector has become very stimulating for those interested in buying outside their country. If you are one of them, here are the most important features of buying a property in Turkey in 2018:
Very competitive prices
One of the advantages of purchasing a property in Turkey in the last year is the increase in supply in the Turkish market, where the number of projects that have been recently built has increased, so competitors are offering their properties at very reasonable prices.
You may be able to save a significant amount when you buy a property in Istanbul this year because of the high offer and the best options in residential areas such as the famous Bahcesehir district or the region of Kucukcekmece.
Government support for some housing projects
Many construction companies in Istanbul have launched residential and commercial projects in partnership with the municipalities of Istanbul and the principle of partnership with the government has begun to spread in the real estate sector, due to the increasing demand for property secured by the Turkish government.
You can browse many projects secured by the municipality and purchase with the guarantee of receipt of your property at the time of delivery specified in the contract and ensure the return of investment in the case of agreement and most importantly is the confidence granted to you to purchase in projects guaranteed by the government. You can contact the sales department of Extra property Real Estate to show you the projects supported by the Turkish government in Istanbul and other Turkish cities.
Istanbul’s main infrastructure and the rest of the city are the most important features of buying a property in Turkey. The most important projects that support the infrastructure of the city, which started last year, Istanbul Airport III and the new Istanbul Canal and the new bridges that were inaugurated in late 2017.
The proximity of these facilities is an investment advantage for real estate owners in Turkey. The value of the properties in these facilities has increased after the start of work on them in a formidable manner, and demand for properties near these areas is still high due to the high investment returns achieved by these areas.
Turkish Turquoise Card
Turkey’s Turquoise Card System is a system designed to attract highly skilled foreigners and high-level investors with the right to work and live in Turkey indefinitely. Many experts are similar to the Green Card System in America and have been launched in the Official paper in March 2017.
This system is one of the most important features of buying a property in Turkey for housing, where the Turkish government will grant the cardholders of Turquoise card the same rights of Turkish citizens.
Mortgage loans in Turkey
Many banks in Turkey last year have facilitated the process of obtaining a mortgage loan in Turkey for foreigners with international partnerships with banks from countries of origin to investors, including Guaranty Bank, Kuwait Turk and Deniz Bank.
You can now finance your property through a mortgage from a Turkish banking institution if you meet the conditions set by these banks.