The property market in Turkey has continued to grow stronger over the past few years even though price rise has been slowing since the early part of 2017. According to the Central Bank of the Republic of Turkey, the country's nationwide house price index rose by 13.98% in 2016. It is, therefore, obvious that the property market in Turkey is growing stronger by the day because people are becoming increasingly interested in buying property such as mansions, apartments, villas, offices as well as plots of land in Turkey. Now, let's look at some benefits of buying properties in Turkey.
1.) Properties are relatively cheaper
It is common sense that buying a property in the EU is very expensive and costly. Besides the actual cost of the house, other expenses such as survey fees, lawyer fees, stamp duty as well as the costs of renovations (if the property requires one) are also incurred. However, the situation in Turkey is different as properties in Turkey are comparatively cheaper than those in other Central European countries like France, Germany, Belgium, the Netherlands, and UK, etc. For instance, it has been estimated that the cost of buying a one bedroom apartment in the UK can afford a three bedroom apartment in Turkey. Thus, you can get a luxury villa or apartment in Turkey without breaking a bank.
2.) Great climate
Another reason why many people have chosen to buy homes in Turkey is that the country has an awesome climate. Winter, for instance, is not too harsh and you may never need to worry about digging your car out of snow. The temperatures of winter rarely go beyond 5 degrees Celsius. Although rainfall is sometimes heavy, the climate remains beautiful, and everyone can quickly adapt to it.
3.) Cheaper cost of living
Some people buy properties in Turkey so as to settle in the country and benefit from the cheaper costs of living unlike in most other European countries. For instance, the cost of gas, transportation, food, renovation, and maintenance as well as electricity are cheaper in Turkey than in other Western countries.
4.) Easy residency
The fact that it is quite easy to get residency in Turkey is one of the reasons why people continuously buy property in Turkey. The open market policy has particularly led to an increase in the sale of property in Turkey. The reason is that due to this policy, investors are free to come and settle in the country. The process of obtaining residency is not at all complicated. Once you purchase a property in Turkey and register it to your name, you automatically become qualified to apply for residency in Turkey.
5.) Full ownership of your property
In Turkey, whatever you buy belongs to you. There is, therefore, no option of you being a part owner of your property. In other words, you have the rights for the 'freehold' ownership of your Turkish property. Whether it is a small apartment or mini villa, you are the full owner of your property and the land it is built at. However, the situation is different in most other European countries where all land is considered government property