All you need to know about the difference between buying property in turkey and USA
It is not a simple matter to settle in a destination without being tempted by other advantages, as it is related to buying a property, mostly if you have chosen to own in a foreign country.
Yes, the available options are many and varied, but which one is better for the foreign investor, and here we mean in particular the Arab than others, and what distinguishes buying apartments for sale in Turkey from purchasing a property in other countries such as America?
In today's article, we will try to shed light on ownership in first world countries. We chose the United States of America as a model, compared to the real estate investment process in Turkey, which has become an intense competition in the global market for real estate sales and has even turned into the most attractive and preferred destination for many compared to the first world countries. Given the size of the benefits, housing and investment options available to the foreign owner in them, in addition to other details that the foreign investor can only find in Turkey without other countries, even if it is the first economically in the world.
What is the difference between living in Turkey and the USA?
Living in America is the dream of many people from all over the world. But in recent years, Turkey has become the first destination for many foreigners who want to change housing by buying apartments for sale in Turkey or investing in Turkey real estate by purchasing apartments for sale in Istanbul and then selling them after the rise in prices. There are also those looking to obtain Turkish citizenship and enjoy the benefits of a Turkish passport. In Turkey, they find excellent facilities in reaching their goal, especially after the recent amendments made by the Turkish government and allowing foreigners to obtain Turkish citizenship by investment for only 250 thousand dollars.
Although the request to immigrate and settle in America has not decreased in a record fashion, the movement to Turkey to live, especially for families and students, has increased significantly.
The difference between living in Turkey and the USA as follow:
Are all regions in Turkey and the USA suitable for living and buying real estate?
In both Turkey and the United States of America, cities emerged at the expense of other more suitable for real estate ownership due to their containment of attractive factors compared to the rest of the cities in both countries.
And Boston and Los Angeles in addition to San Francisco, while most of them are reluctant to buy real estate in Milwaukee, Rockford, Baltimore, Little Rock, Kansas and Oakland, as dangerous cities where racist attacks abound, in addition to their poor economic conditions and widespread unemployment throughout them.
As for Turkey, a group of countries that are suitable for the process of real estate ownership and buying real estate in Turkey or apartments for sale in Turkey, whether it is related to housing or investment, have emerged in recent years: Istanbul, Antalya, Ankara, Bursa, İzmir-Sakarya and Trabzon, which are cities that accept It has a large number of foreigners, and Alhuda real estate investment in Turkey provides many properties for sale in it.
As for the dangerous cities that are not suitable for real estate ownership in Turkey, we have the right to say with pride that all of Turkey is safe and stable and every meter in it is suitable for living, housing and investment, as Turkey has created in recent years a safe environment and one of the best living environments in the world, whether in location, economy, Climate or nature.
Investment Analysis of Turkish and The USA Real Estate Market
The above paragraph has shown an initial superiority of Turkish real estate at the expense of American real estate in many aspects. Are real estate prices more suitable for investors in Turkey or America, and in which country is real estate ownership taxes lower?
Statistics indicate that the average price per square meter in the United States of America is $ 1,700, while in Turkey, it does not exceed $ 400. As for the average rent per square meter in Turkey, it is estimated in America at $ 10 compared to only $ 3 in Turkey. As for the average capital recovery in America, it extends to 14 years, down to 11 years exclusively in Turkey, and from here we can conclude that real estate prices in Arkia are 23.5% lower in Turkey compared to the United States. The average price per apartment with an area of 100 meters A square in New York, for example, may reach 200 thousand US dollars, which is an apartment that can be bought in Istanbul, Turkey, for about 70 thousand US dollars, in another evidence that real estate prices in Turkey are more suitable for foreigners who want to own and invest than in the United States.
As for rent, the rental price in the United States of America is indeed higher than the rental yield in Turkey, but as for finding tenants, the matter in Turkey is much easier due to the high demand for rent throughout the seasons, especially by foreigners whose number has increased dramatically in Turkey due to the residency procedures. The facilities enjoyed by foreigners wishing to settle in Turkey, and thus their permanent need to rent houses and apartments, should benefit real estate owners and owners in Turkey compared to those in America who have difficulty renting their properties.
As for the most crucial detail in the comparison between real estate prices in Turkey and the United States, the years of capital recovery are three years less in Turkey than in America, where the purchase prices are high and the years of return are longer.
To understand more deeply the differences between buying real estate in both Turkey and the USA, you should know all details related to taxes and fees. Here we find that prices on real estate in the United States of America are very slightly lower than real estate taxes in Turkey, as they amount to 3.7% of the property price in the first with its difference. From one state to another, that is, it decreases in some countries compared to others. At the same time, in the second "Turkey" is estimated at 3.9% of the total value of the property upon transfer of ownership.
If you want to invest in real estate, do you have to choose America or Turkey?
Suppose you are still confused about whether Turkey will choose a destination for you or the United States of America. In that case, real estate experts confirm that real estate investment laws in America are somewhat complicated, especially in the state of New York, which is more required, as it contains gaps that may force the owner to pay the property tax of 45% of The total price. However, the real estate ownership laws in Turkey are easy and simplified, especially with the current incentives in which a foreigner can obtain Turkish citizenship within 45 days and at a price of only $ 250,000.
On the other hand, taxes in the United States of America may be lower. Unlike Muslims and Arabs who still suffer from an inferior view of terrorism—restricting the granting of travel permits to many Arab countries, which diverted Arab and Muslim attention to Turkey as a safe alternative and a right choice.
In general, Turkey is witnessing in recent years a tremendous urban revolution within the framework of the urban transformation that has changed the face of Turkey and made it in the ranks of major countries and a dream that attracts many investors in the world, in exchange for a recession that America has lived through the past years and is still living due to the insane rise in real estate prices.