Turkey Advantageous For Foreigners
In new research conducted by the U.S.-based international real estate investment company Remote Ventures, revealed the 25 most advantageous real estate investment markets among 200 countries it reviewed, and Turkey placed high with features like growth rate, cost of living, income taxes and transaction costs, in addition to tourism sector growth. Turkey secured 14th place, outpacing countries like Spain, Portugal and Greece thanks to its affordable prices, growth projections and stable tourism market.
Foreign residential sales in Turkey significantly increased following the reciprocity law launched in 2013, contributing to the country’s real estate sector, which came to the fore as one of the leading markets along the Mediterranean coastline. Foreign sales income has surpassed $6 billion in Turkey since the implementation of the reciprocity law, breathing new life into the sector. The sale of residential properties to foreigners reached 45,483 units last year alone, with demand increasingly diversifying each year.