American Investments in Turkey
A promising future is waiting for the foreign investment in Turkey: The US specially.
Turkey has always been a destination for those who want to enjoy civilization, culture, and nature. Also, because of its growing economy, Turkey has become a destination for foreign investors, and the United States is one of the ten most investing countries in it.
Why are Americans investing in Turkey?
The real estate investment in Turkey by foreigners reached 189 thousand properties between 2015 and 2020. Over the last three years, the United States has been among the twenty most nationalities seeking real estate investment in Turkey.
According to the Turkish Statistical Institute, the number of apartments bought by foreign investors from the United States was 658 apartments in 2019, and 623 apartments in 2020. Plus, it reached 1014 apartments between January to September 2021. Then, why are Americans seeking investment in Turkey?
One of the reasons to invest in Turkey is the facilities provided by the Turkish government to encourage real estate investment in its lands, like the Turkish real estate law. According to Turkish real estate law number 2644 article 35, foreign individuals and companies are allowed to buy and own properties in Turkey. Another facility could be the VAT exemption for those who have their first investment in Turkey.
Indicators about promising future for foreign investment in Turkey
Turkey is always offering new chances to attract foreign investors, as it is one of the most welcoming countries to new investments in its lands. This could be shown in the positive impact on its economy. Since 2003, Turkey has attracted 165 billion dollar foreign direct investments.
Meanwhile, the real estate investment market in Turkey is growing rapidly and full of promises. Last year (2020), the real estate market in Turkey attracted a 4.4 billion dollar investment equivalent to 57% of the total inflow of foreign direct investment in Turkey which was 7.8 billion dollars. This could be because of the facilities Turkey put to encourage foreign investors like:
Getting Turkish nationality: when you own and invest in real property in Turkey, you will not only get good profits ( more than 20% after 3 years of buying the property), but also you will be able to get Turkish nationality if your property's price was 250,000 dollar at least.
You can get resident permission easily: The Turkish government gives resident permission easily to those who own property on its lands, and their families also ( wife and children under 18 years old). The resident permission will allow the investors, besides living in Turkey, to export furniture and vehicles and establish companies in Turkey.
These indicators promise a good and safe real estate investment future.
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