Because Turkey is such a diverse, vast, and fascinating nation, a country that spans two whole continents, and borders eight other different nations and with the most pleasant climatic conditions possible, it is very fair to say that this nation has its fair share of hot locations to choose from when investing in property.
Purchasing land in any country in the world can be a daunting task that is filled with all kinds of uncertainties. What's more, if you are do not understand or speak the language of that particular country, then you are in for a tough time. for all those who fish to buy property in the beautiful country of Turkey that is filled with rich history and culture, delectable food, pleasant weather and hospitable people, then this read on. Turkey has now become a popular and an equally important destination for tourists, who are not just interested in visiting and traveling to this beautiful country, but purchase property as well. Today, there are more than 55,000 foreign citizens living in Turkey and this number is increasing rapidly. Most foreigners prefer to invest in property in the Mediterranean region, the Aegean region, and in Istanbul.
Purchasing Property Wisely
First of all, go through the reciprocity principle, which would state that you could buy property in Turkey only if the Turkish citizens can do the same in your country. If these nationals are allowed to claim ownership of property in your country, then likewise you will also be able to invest in their property. However, there are two very distinct limitations. Firstly, foreign citizens are not allowed to own areas that are restricted to military use. Secondly, the property must be located in an area designated for office or residential use only.
If you are a foreigner interested in owning a piece of land or property, here are three very important tips that you are advised to follow:
- Start off by checking with the Local Land Registry Office to see whether the title of the concerned property is absolutely clean (Tapu).
- Check for any unpaid taxes with the Local Tax Office.
- Check for illegal issues if any, like improper floors with the Local Municipality.
Once you obtain permission to purchase property along with the requirements of Article 35 of Law 2644 for real estate acquisition, then the property can safely be bought.
Tips to Keep in Mind
- If you are a property investor who is looking for a fantastic home or a safe and secure yet profitable investment or even if you seeking the best ROI from off shore property, then here are a couple of hot spots that you should check out.
- It is but obvious that Istanbul will be the first on the list of hotspots. This city is expanding at an incredible pace and is being invested in heavily by foreign tourists all over the world. So, if you are looking for a good investment opportunity with long-term potential, then Istanbul is your best choice.
- If you want to invest in a profitable property but yet want to spend your holidays relaxing in the sun, then Bodrum should be ideal for you. This is one of the most important resort destinations in all of Turkey and also has its own international airport.
- Altinkum is another good location for property investors. The town has scenic beaches and because it has become so popular, the property rates have also been increasing by the year.
- If you are looking for a lovely location with pretty villas and splendid beaches and you are not too particular about easy accessibility, then Kalkan is a beautiful location to invest in. with its spectacular bay view and the stunning villa properties, it is a hot favorite.
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