Turkey has a secret in selling properties to foreigners ... Get to know it
One of the necessary needs in which the permanent desire of people is not interrupted in whatever conditions is the need for housing by buying properties, so what if the end is achieved in a modern country that is characterized by embracing its citizens and opening its doors wide open to foreigners, in a country like Turkey where housing has been transformed from a normal need to a desire and matchless mania.
Rushing that the Turkish authorities gives a great importance, as all the government discusses about the economic future of Turkey offers plans related to the real estate sector due to its great role in pushing the development path of the country, and based on the size of the challenges that the sector knew last year, Turkey, at the hands of a group of experts and real estate associations, formulated a deliberate and solid plan to increase the volume of sales of property in Turkey during the current year.
So, let’s get acquainted with the authorities supervising the scheme of increasing the sales of property in Turkey during the year 2020:
· Head of the General Directorate of Housing and Construction in Turkey "TOKI"
· Istanbul Construction Trade Association "INDER"
· Building Contractors Association of Anatolia "AYIDER"
· Various construction and contracting companies
What is the developing plan for the sales of property in Turkey during 2020?
With a view to stronger investment and greater sales operations for property in Turkey, the government has drawn a solid blueprint that works to achieve the goal of increasing the volume of property sales to 1.5 million properties during the year 2020 or more between apartments in Istanbul, apartments in Turkey in general, villas, homes, commercial stores and other ready or under construction
The plan also works on a detailed study of all available ways to raise the volume of sales processes of property in Turkey and incentive points for Turks and foreigners in order to buy a property in Turkey, in addition to proposing solutions to spare the real estate sector from all the negatives and obstacles that it faced in the past years or those that are likely to face it later.
Turkey relied in its study of the future of the real estate market and its growth indicators on several data:
The demographic growth in Turkey is moving towards a remarkable rise, as the country concluded its population in 2018 with 82 million people, which is a number that qualifies to rise more during the coming years and therefore the need for homes will be at the front where small families turn into larger homes and young people seek to own homes for the purpose of marriage and from it increases The number of people wanting to own a property in Turkey.
High urbanization rate
Turkish cities are witnessing a large increase in the number of their residents, or as they are called "urban" residents compared to rural residents, which creates a great desire among the villagers to move to cities and thus the demand and the need for new housing increase in consideration of the choice and direction of public taste in the country.
The rate of urbanization in Turkey compared to other neighboring countries is very large, as during the past twenty years, it has witnessed a significant urban expansion.
The high number of foreigners residing in Turkey
In recent years, Turkey has become a favorite destination for emigration from neighboring and Arab countries due to the facilities it offers to expats on its lands, as in 2019 alone, around 1.1 million people acquired residence, while the number of people who bought a property has increased to 63 thousand investors, i.e. 61 thousand apartments in Turkey was purchased, including about 26 thousand apartments in Istanbul, which clearly pave the way for a brighter real estate future in which the volume of sales increases to exceed the expectations set by much.
Incentives for foreign investors
Turkey is working on achieving a plan for the next phase that extends to 2023, which relies on the rehabilitation of 7.5 million property and the construction of modern service and building facilities in order to reach 18 million property in Turkey through which it meets the increasing demands of foreigners to buy properties in Turkey.
It also set a number of incentives and facilities for foreigners wishing to own property in Turkey by developing vital facilities and infrastructure such as the new Istanbul airport and Istanbul water Cannel, building modern housing complexes and the recovery and stability of the labor market.
The Turkish government also granted the foreign investor rights that are difficult for him to find in other countries such as real estate residence and obtaining Turkish citizenship in exchange for the purchase of a property worth 250 thousand US dollars, with the mandatory issuance of the real estate assessment and energy identity, which makes the investor immune to manipulating the purchase price of the property in Turkey and away from any kind of fraud.
Also, the procedures to reduce the interest rate on real estate loans in Turkey during the last quarter of the year 2019 also contributed to the increase in Turks' interest in buying property in Turkey.
The facilities provided to the Turks were also met by facilities for expatriates and foreigners wishing to purchase properties in Turkey by launching the service of paying the property price via a bank account from outside Turkey, as this contributed to the increase in demand for property ownership in Turkey.
Despite the criticism that accompanied the amendments to the renewal of the tourist residency in Turkey, the procedure paid a lot to buying the property in Istanbul and Turkey in general in order to obtain the real estate residence.
The sale of a million and a half million property during 2020, according to a specific and fixed plan, is one of the secrets that many people are ignorant of, and the Turkish government is working hard to implement it according to data explained in the article of Al Huda Real Estate Company.
Who knows, you the one who’s reading this article might be a number of the million and a half!