Today we will talk about the main advantages of buying real estate in Turkey.
Turkey is one of the fastest developing countries in the region, which leads to an increase in demand for real estate. According to the latest report from the Central Bank of Turkey, house prices rose by 153% in January 2023.
Purchasing a property is a profitable investment, as it can be sold at a higher price or receive a stable rental income.
The acquisition of real estate in Turkey is associated with the payment of several types of taxes:
• The purchase and sale tax is 4% of the property value.
• Real estate tax depends on the cadastral value of the property and ranges between 0.6% and 0.1%.
• Income tax is paid on the property disposition and ranges from 15% to 35% of income.
Tax rates may vary depending on the region, but in general, the tax policy in Turkey is quite loyal.
The cost of real estate in Turkey is relatively low compared to European countries, which makes it more affordable for investors.
The country is one of the most popular tourist destinations in the world and has a developed infrastructure.
Turkey offers a Citizenship By Investment Program that allows you to get a passport when investing in real estate from $400,000.
Four of five Caribbean countries with CBI programs, namely Antigua and Barbuda, Grenada, Dominica, Saint Kitts & Nevis, signed a memorandum of understanding (MoU) to set the minimum threshold to $200,000 and collaborate on specific aspects.
With Turkiye you will have an opportunity to come one step closer to the business and real estate market in Eurasia, that is full of entrepreneurial opportunities and innovative ideas. The country boarders with a great range of countries, thus, suggesting new opportunities to people for efficient entrepreneurship and business development.
One of the best strategies in times like this is to diversify a real estate portfolio to encompass properties in different locations
