Turkey is rapidly transforming into a land of prosperity for its citizens as well as foreigners. While it has favourable laws to promote the well being of the native people, it also supports the immigration of foreigners through its citizenship rules. Hence, if you want to buy a house in Turkey, you are sure to benefit from your investment in the long run. Here are some prominent reasons to endorse your decision.
- Cheaper houses
As compared to the real estate industry in other European nations and across the world, the market in Turkey is cheaper. A late entrant in the global market, it enthrals the attention of foreigners easily due to low cost of houses and other properties. Moreover, due to reduced property rates, it is easy to buy house in Turkey without requiring any bank credit or mortgage.
- Ease of buying house
Unlike a decade ago, the procedure to buy house in Turkey is now more convenient and streamlined. It hardly takes a week to find a house and sign the title deed for the same. To help the interested buyers invest in the newly constructed houses, the government also offers 6 to 60 months payment plans. So, you can keep paying the instalments for five years while living in your new home itself. Further, zero percent interest on the payments is a big turn on for first time buyers.
- Low cost of living
People in Turkey have to spend less for council tax, water bills, electricity bills etc., as compared to the other nations; they don’t need television license either. All the household items, eatables and more are available at cheaper rates in the local markets. The monthly minimum wage is 2,324 Turkish liras, with the company owners being liable to pay for all the retirement and healthcare expenses of their workers.
- Lucrative returns
If you wish to by house in Istanbul for rental purpose, it can fetch you high returns. Nevertheless, the selection of the right real estate agent is of high importance if you wish to acquire constant income from your house. This can help you to generate an annual income equivalent to around 10% of the total cost of your house. The location you choose to invest in the property also holds high significance.
- Road to citizenship
If you are able to buy house in Turkey worth 250.000 USD or more you can have the right to gain Turkish citizenship along with your family. Having full freehold title deed ownership of a property, you also get the right to residency permit, which sets you free from showing visa to enter Turkey. You can sell your property after three years of purchase or rent it right after buying it for enhanced monetary profits. If you sell your property after 5 years of your purchase you never pay income tax.
- Climate and lifestyle
With terrestrial, Mediterranean, oceanic and continental climate, the nation witnesses a rich diversity in climate, giving way to lush vegetation and fertile forests. The people here enjoy a cool lifestyle, savour on the best of dishes and love to participate in a range of cultural and artistic activities. The country is home to major tourist attractions, like the Hagia Sophia Museum, the Basilica Cistern, Topkapi Palace created during the Ottoman Empire and so on. Further, Turkey ensures excellent transportation, education, and healthcare facilities as well.
With all these reasons, you just cannot wait to buy house in Turkey and be a Turkish citizen. Investing in a property in this country is indeed a wise decision that will bear long lasting fruits. To get further assistance in your buying goals, Turkish Riviera Homes can be of immense help.