How to make profit in real estate in Turkey?
Visitors to Turkey are always looking forward to investment projects after touring and visiting its tourist places and areas as well. Indeed, Turkey receives millions of tourists in all fields including; cultural, religious, investment, entertainment and medical tourism too, since Turkey links the East with the West at the same time. Several facilities have been issued to encourage foreign investors and foster their profits, with a primary to the Turkish citizenship permission.
In addition, Turkey is considered among the top strongest economies around the world, as it has witnessed the fastest economic growth in Europe. Some economic expectations have mentioned that Turkey`s revenues from the tourism sector may reach billion dollars by the end of 2020.
In this regard, Turkey is a popular tourist destination due to the presence of many coastal resorts overlooking the Mediterranean Sea, the Aegean Sea and the Black Sea.
Several historical sites including; ancient monasteries and cities and medical tourism resorts exist in the Turkish cities.
The real estate market has gained a reputation for being the most guaranteed investment sector. It’s the safest way to make money and also the quickest. And in the last decade, Turkey has entered the scene with unprecedented rapidity stealing the spotlight. As the trending destination for investors, foreigners are already rushing to buy property in Turkey.
The success of the market is the result of several factors, from affordability to stability, and everything in between that has made investing in Turkey low risk.
For instance, in 2020, perhaps the most challenging year of the century, the market performed against the odds and sales of property in Turkey went up by 23.5% in the first half of the year alone with the majority of buyers coming from overseas.
Without further ado, here’s how you can make Jack think to buy a property in Turkey and invest in Turkey.
3 Quick Ways to Making Profit
- Rental Returns: We all know property earns you most money through the traditional buy-and-hold approach. But you can leverage these long-term returns by leasing your apartment or house. Turkey hosts some of the greatest architectural pieces with comprehensive services that easily appeal to lessees. You can turn your property into a vacation house or put it for long-term rent. And since Turkey is currently a popular attraction for people around the globe, renting your flat can never go wrong. Buying property in Turkey guarantees a high rental yield.
- Investing Near Big Projects: Turkey is currently witnessing rapid development and urbanization with massive projects quivering on the horizon. Buying property in Turkey within proximity to upcoming projects such as the İstanbul Canal will guarantee a rapid increase in property prices within the region once the projects are launched. Giving you the opportunity to resell your property with high ROI in the coming years. That’s your short-term returns made a breeze.
- Buying Property Under Construction: Many are sceptical of owning unfinished property in Turkey. But the head municipality in İstanbul supports many of these projects ensuring their completion until the end. Prices of projects under construction are very appealing in comparison to how they typically skyrocket by delivery. You can capitalize on this opportunity by buying property under construction and reselling it upon completion for quick profits.