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Due to the Corona pandemic , the economy was affected globally , and this was reflected in the stagnation of markets and the decrease in supply and demand in all sectors and fields .
In this crisis , the real estate market was a golden opportunity for investors who want to own real estate in Turkey , because of this decrease in demand for buying real estate in Turkey , real estate prices in Turkey have decreased steadily , providing you with an exceptional opportunity to own and obtain your dream home in Turkey , and once this pandemic ends , real estate prices will rise again , as economic and real estate experts expect an unprecedented activity of the real estate market in Turkey after the end of this crisis , the European countries have proven their failure to manage crises and provide a decent life for citizens , which drew attention to Turkey as a result of the tremendous efforts made by the Turkish government and the satisfactory results that strive to achieve .
Also , this sudden economic downturn has led to price cuts by construction companies that need financial liquidity , these discounts reach 20-25% , and this situation increases the bargaining potential of buyers , as it creates golden opportunities for highly financial liquid investors .
On the other hand , investors wishing to buy a property in Turkey must consider that exchange rates that creates unique opportunities , as the Turkish real estate market is highly dependent on the Turkish lira , and with the rise in exchange rates , the dollar or euro prices have decreased by 10% , despite the prices of the Turkish lira remained the same .
Speaking to him , Faruk Akbal , CEO of the International Real Estate Promotion Association ( GİGDER ) , which represents Turkey’s leading real estate brands , said that in March , Turkish real estate companies sold residential properties worth more than 100 million TL = $ 14.3 million , online , for foreign buyers whose travel ban has prevented them from reaching Turkey .
And in a meeting with Anatolia Agency last Tuesday , he said that real estate sales to foreigners became online due to the outbreak of the Covid-19 , adding , that foreign buyers who were unable to travel to Turkey had gone to electronic platforms to buy real estate .
Akbal said that the association members sold 120 properties through online platforms in March , which generated an income in excess of 100 million Turkish liras using the innovative perspective and technological capabilities , and with the help of the momentum our country achieved in the field of health care .
And Akbal added that this also shows that » good things are happening in the market , and that both Turkey and Turkish companies are keeping pace with changing circumstances . «
The total sales of residential real estate in Turkey increased by 33 percent between January and March to 341.381 , according to the Turkish Statistical Institute » TurkStat » .
The data showed that sales to foreigners jumped 13.8 percent year-on-year in the same period , to 10.000 and 48 .
Nearly 1.35 million housing units were sold in the country in 2019 , while up to 45.500 homes were purchased by foreigners , an increase of 14.7 percent compared to the previous year .
Akbel explained that from the moment the epidemic began , virtual tours of foreign customers were organized using virtual reality glasses and various online tools to keep sales going .
Akbal said that the recent circumstances , which were the outbreak of the Covid-19 epidemic , had led to a major change in marketing , sales and management operations in the real estate sector .
What are the steps to buy a property without coming to Turkey ?
- Communicate with the real estate consultant through direct video calls
Our real estate consultant will contact you and provide all the information that interests you in the matter of buying real estate in Turkey , such as : laws of buying real estate in Turkey , conditions for obtaining Turkish citizenship , etc. , and he will answer all your questions and inquiries , and he will send pictures and videos for showing you all projects and investment offers .
- Select and choose the appropriate property
After reviewing all the projects and investment offers , you will start to form a basic idea about the required property , where you will be able to choose the appropriate property .
- Make a legal agency
In coordination with our legal team , which will direct you to the Turkish embassy in your country , you will create a legal agency for Right Home real estate consultancy company in Istanbul , so that we can legally pursue the procedures for your real estate ownership in Turkey .
- Money transfer
You must transfer a sum of money to the account of the developer of the project that you have chosen , this amount includes the down payment or the total amount of the property price , according to the agreed payment plan .
- Transfer of ownership
According to the power of attorney that was made for the Right Home real estate consultancy company in Istanbul , we will perform all procedures related to transferring the property and receiving the title deed , and then the property purchase contract and all the official documents will be sent to the customer by guaranteed mail .
- Apply for Turkish citizenship
In case that a property is purchased for obtaining Turkish citizenship , our legal team will submit the required documents and follow up the procedures until you obtain Turkish citizenship . After the issuance of your Turkish passport , the passport will be sent to your residence by certified mail .
- Real estate investment
In case that you want to purchase a property for investment , we will , according to the agency , invest this property for you and transfer its investment returns to you in your residence .
What are the advantages of buying a property in Turkey ?
- Low tax in Turkey , the decision to reduce taxes in Turkey is one of a series of decisions concerning the real estate sector in Turkey , and was reflected positively in stimulating foreign investors to own property in Turkey , which contributed to the revival of the real estate market in Turkey in general . The most important tax deductions are : Exempting the foreign buyer from the value added tax due on the property .
- Obtaining a residence permit , where foreigners who own properties in Turkey , whose price is less than $ 250.000 , are granted a residence permit that is renewed annually . Real estate residence permit in Turkey is granted to the landlord , his wife , and his children under the age of 18 .
- Real estate in Turkey is the cheapest real estate investment in Europe , where real estate prices in Turkey are considerably cheaper than those in Europe , with similar features in infrastructure , and similar in structure of developed European countries .
- Real estate investment in Turkey provides a profitable investment return , based on the economic activity and rapid urban development , and the strength of tourism in Turkey , which is best reflected in the periods and tourist seasons , through the demand for rental homes during those seasons distributed throughout year .
