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What Are the Advantages of Land Investment in Turkey?

13/04/2022 What Are the Advantages of Land Investment in Turkey?

Why Should Foreigners Invest in Land in Turkey?

Recently, Turkey has been attracting interest from many parts of the world in terms of land investment. These people make investments in Turkey for reasons like investment and residency. So why should you invest in land in Turkey? Here are the reasons:

  1. Low prices: The most important feature that attracts investors to buy land in Turkey is the low price of these lands, especially when compared with the prices of ready-made properties in Turkey. Especially if you want to buy land in one of the most attractive places in the country like Istanbul, Antalya, or Fethiye, it will cost more reasonably priced than the ready-to-use housing options.

  2. Turkey’s richness in the land area: Turkey’s distinctive nature and its vast lands had a great and important role in the spread of this type of investment, as there are many options available to you in different areas and locations. 

  3. Giving space for creativity and imagination: Your purchase of land in Turkey opens the way for you to choose the property you want to build with the design that suits you, as there is no room for creativity. If you have a residential plot, you can build a villa in Turkey, a mall, or even a restaurant.

  4. Several different ways of usage: Buying land in Turkey means taking advantage of it in many ways, as it is possible to cultivate this land in the event of fertile soil and enter the world of agricultural investment. Also, you can use it to raise animals of all kinds. And you can build a real estate project, such as a residential complex, and then offer apartments for sale.

How Can Foreigners Make Land Investments in Turkey?

At the stage of purchase, foreign investors should apply to the Land Registry Office first. During the application process, there should be an identity card, a document showing the current value of the land, certified translator with the deed if the buyer or seller does not speak Turkish. For foreigners to benefit from the condition of gaining Turkish citizenship through investment, they must purchase at least $400,000 worth of land.

What Conditions Should Foreigners Pay Attention to When Buying Land in Turkey?

  1. The relevant Land Registry Office should check the issues such as whether there is a restriction or not an obstacle to the sale of the immovable.

  2. The total land area of foreigners cannot exceed 30 hectares in Turkey.

  3. It is forbidden for foreigners to purchase real estate from areas declared military zones in Turkey. Therefore, before buying real estate, a document should be obtained from the military authorities stating that that area is not a military zone.

  4. A residence permit is not required for the foreigner to buy land in Turkey.

  5. In case of any dispute between the parties regarding the acquisition of immovable property, the situation should be referred to the judicial authorities, and a lawsuit should be filed in the courts of the Republic of Turkey. 

  6. In case of rejection of the application to acquire immovable property, an appeal can be made to the Regional Directorate to which the Land Registry Directorate is affiliated.

  7. It is recommended not to work with people or companies not known to be experts and reliable. We, as Bari Global, with our experienced team, present valuable experience to help our clients to reduce risks and save time. We offer solutions personalized to each investor to create maximum profit in Real Estate Consultancy besides Investment Advisory.

Can Foreigners Get Turkish Citizenship by Purchasing Land?

Of course! Foreigners can acquire Turkish citizenship through investment. Natural persons of foreign origin are granted the right to acquire Turkish citizenship using exceptional procedures upon real estate purchases over $400,000.

For this purpose, foreigners:

  • Should purchase real estate worth at least $400,000.

  • In the application, foreign persons should state that they purchased the real estate for this purpose. The title deed should state this purpose, and the foreigner shall declare that they shall not sell the real estate for three years in the section of the form where declarations are made.

  • Once the land registry procedures are complete, the foreign national may apply to the relevant administrations to claim the right of residence or citizenship by submitting the certificate of eligibility to be issued to the owner.

Advantages of Land Investment in Turkey

Excellent Revenue Growth Over Time

Investing in real estate in Turkey provides a profitable investment return, based on the attractive force of tourism in Turkey manifested in its best forms during the tourist periods and seasons, through the demand for renting homes during those seasons distributed throughout the year. The advantage of real estate investment returns in Turkey increases, especially if the real estate ownership in Turkey is long-term, which means that the value of the property will rise after years, and thus the capital will increase.

Moreover, investing in a country like Turkey is a safe investment, in addition to the many and continuous demands for rents in Turkey that make the additional income expected from renting the property a semi-fixed income.

Opportunity to Obtain Turkish Citizenship

What increases the importance of Turkey being among the best countries in the world for real estate investment is the opportunity to acquire Turkish citizenship by owning property worth $400.000. 

Especially for those coming from unstable countries, it is considered a strong motivation to buy real estate in Turkey, even if it is accompanied by real estate growth. In other words, the demand for real estate in Turkey will continue despite all conditions.

The Turkish government has shown great seriousness in this matter, especially since a large group of investors obtained Turkish citizenship within only 90 days after completing the purchase process. This procedure and other Turkish government facilities encouraged many investors to turn out significantly to make investments. Real estate ownership in Turkey enables them to gain profit and acquire citizenship at the same time.

Support Provided by the Turkish Government to the Real Estate Sector

Among the advantages of real estate investment in Turkey is that the Turkish government has given special importance to the real estate sector through many real estate campaigns in the past years.

The main activities carried out in this context are:

  • Some real estate companies tried to cancel their interest completely by order of the President.

  • Advance payments in installments have been reduced, and the rate has been withdrawn from 25% to 20%.

  • Foreigners and expatriates have been exempted from value-added tax while buying real estate.

  • Foreigners and expatriates have been exempted from value-added tax while buying real estate.

  • Turkish law grants a foreign investor the right to reside in real estate for himself, his wife, and his children in exchange for purchasing a property in Turkey.

  • On June 13, 2022, a decision was made to grant the right to apply for Turkish citizenship to foreign investors who own $400.000 worth of property in Turkey.

Full of Opportunities Turkish Real Estate Market 

The Turkish real estate market offers many varied opportunities and options. This diversity is one of the main reasons why real estate in Turkey is strong and diverse due to Turkey's wealth of space, the diverse nature, and the climate of its cities. What increases the strength of real estate investment opportunities in Turkey is the permanent increase in flat prices in Turkey due to constant foreign demand.

Affordable Real Estate Prices

Real estate prices in Turkey are described as much cheaper than in Europe, with infrastructure advantages close to the structure of developed European countries.

Turkey's real estate market consists of a wonderful climate, a promising economy, and a developed real estate market. In addition to the various attractive attractions in Turkey, many opportunities and incentives make investing in Turkey an encouraging opportunity. 

One of the most important factors is that it hosts many touristic and historical places that attract tourists from different countries from all over the world, making investment and residence in Turkey a profitable and ideal option by all standards.

Tax Exemptions for Foreign Investors

The Turkish government continues to provide the necessary facilities for foreign investors to increase foreign flows to the country. Among these facilities is the exemption from value-added tax in Turkey, apply to foreign investors not residing in Turkey.

The value-added tax in Turkey varies between 1% to 18% of real estate sales. Thanks to this exemption, foreign investors can benefit from the tax exemption in Turkey and save a large amount of money while investing in real estate in Turkey.

Where Can You Buy Land for Investment in Turkey?

With more than 30 years of experience in real estate, Bari Global offers a strategic and personalized real estate experience. With our dedicated team of experts, you can lead your life in a new direction with your investments. With our fast and valid solutions and consultancy services, you will be able to use your valuable time while adding value to your investment.

For further details regarding investment and citizenship acquisition in Turkey, read our article titled Turkish Citizenship by Investment.

Turkey Real Estate Options to Invest

Turkey property alternatives come in a wide range of architectural approaches, unique designs, and social facilities. And various apartment, residence, penthouse, villa, and other home options are as close as a phone to you with Bari Global now!