Advantages of Buying Land in Turkey
Turkey is one of the most attractive destinations for real estate investment worldwide, thanks to its strategic geographic location, rich history, and booming economy. In this article, we will highlight the advantages of buying land in Turkey and the key reasons why this type of investment is a profitable and appealing choice for investors.
Geographic Location
Turkey’s position straddling Europe and Asia makes it a crucial commercial and geographical bridge between these continents. This enhances the value of buying land in Turkey for commercial, residential, agricultural, or tourism purposes.
Economic Growth
The Turkish economy has seen significant growth, particularly over the past two decades. Real estate investment and the development of commercial and residential projects play a vital role in strengthening the economy. According to official Turkish data, the Turkish economy grew by 5.7% in the first quarter of 2024. Treasury and Finance Minister Mehmet Şimşek announced that goods and services exports increased by 4%, industrial value-added grew by 4.9%, and high-tech production recorded a 21% growth. Additionally, 1.046 million new jobs were created in the first quarter compared to the same period last year.
Advanced Infrastructure
The Turkish government invests heavily in improving and developing infrastructure, including roads, airports, public transportation, ports, bridges, schools, and universities. This advanced infrastructure makes land investment in Turkey an ideal choice, encouraging investors to buy land near service centers.
Thriving Tourism Sector
Turkey attracts millions of tourists annually and is one of the most popular tourist destinations in the world due to its rich cultural and historical heritage, moderate climate, and stunning landscapes. This opens up vast opportunities for investors in lands designated for tourism projects, such as hotels, resorts, and tourist villages.
Government Incentives for Foreign Investors
The Turkish government offers numerous incentives to foreign investors in the real estate sector, including tax reductions, simplified ownership and licensing procedures, and allowing foreigners to purchase land and properties, except for certain nationalities prohibited from real estate ownership (Syrian, Armenian, Greek Cypriot, Cuban, and North Korean nationalities).
Diverse Investment Options
Turkey offers a variety of land purchase options, allowing investors to choose the type of investment that suits their budget and investment goals.
Investment Returns
Due to rapid population growth and increasing demand for real estate, investing in land in Turkey can yield profitable financial returns, especially in major cities like Istanbul and lands near significant projects like the new city of Yenişehir and the new Istanbul Airport, one of the largest airports in the world, among others.
Types of Land Available for Purchase in Turkey
- Agricultural Land: Designated for farming and animal husbandry, with limited building permissions under specific conditions and minimal area.
- Construction Land: Designated or licensed for building and construction, ideal for investors looking for profitable opportunities like commercial projects, residential complexes, hotels, etc.
Steps to Buying Land in Turkey
- Determine the purpose of buying land in Turkey.
- Set a budget for purchasing land.
- Review land purchase offers.
- Complete all required documents for ownership.
- Consult a reputable real estate agency.
- Finalize the sale and purchase processes and obtain the title deed.
Tips for Buying Investment Land in Turkey
To ensure a successful land purchase in Turkey, consider the following tips:
- Ensure the presence of a real estate valuation report.
- Verify the property owner’s title deed and check its validity at the title deed office.
- Confirm that the property details on the title deed match the property being sold.
- Ensure the property is free from any mortgage or bank seizure.
- Check the type of property on the title deed, whether it is residential, commercial, or agricultural.
- Inspect the property in person.
- Seek assistance from a reputable and experienced real estate agency.
In conclusion, buying land in Turkey represents an attractive option for profit-seeking investors. We hope this article has provided you with valuable insights and answered your questions about why land investment in Turkey is successful, along with essential tips and steps for every investor.
Contact SEDAD Real Estate
If you are considering investing in land in Turkey and want to take advantage of these opportunities and benefits, SEDAD Real Estate is here to assist you. We offer our extensive experience and deep knowledge of the Turkish real estate market to help investors from around the world achieve their investment goals.
Don’t hesitate to contact the SEDAD Real Estate team for specialized consultations and investment solutions tailored to your needs and goals. Whether you are looking to buy residential, agricultural, or commercial land, we are here to accompany you every step of the way to your investment success.
