If you need finance to buy a property in Turkey, there are a few options for foreign buyers. While it's possible to obtain a mortgage through a Turkish bank, with interest rates high we recommend avoiding borrowing in Turkey and opting for finance through a developer or in your home country.
Turkey's tax laws are among the most favourable in the OECD, making the country an attractive destination for those looking to live, work and invest in Turkish real estate. Read our blog here about Turkish income tax for property owners.
The aftermath of the coronavirus pandemic will test nations around the planet as economies tank. However, western European countries like France, Spain and Italy, countries who already have high levels of taxation, will risk alienating investors by raising taxes to help the economy recover. Cameron Deggin from Property Turkey has been fielding calls from investors ready to leave the Eurozone.
Turkish corporate tax rates are low, which is why an increasing number of international companies are choosing to move their headquarters to Turkey. Istanbul in particular, with its position straddling Europe and Asia, has become a hub for companies looking to increase their reach.
Citizens of just about every country in the world can buy property in Turkey. That includes buyers from the United Kingdom, Europe, the US and the Middle East. In fact, buying property in Turkey is out of bounds for the citizens of just five countries: Syria, Armenia, North Korea, Nigeria and Cuba. Everyone else, can buy a home with relative ease. Find out more in this blog.
After purchasing a property in Turkey, at some point you might decide that now is the time to sell your property. In this blog, we talk about selling property in Turkey taxes and what costs you might have to pay after your home has been sold. Property taxes are relatively low in Turkey compared to other countries, and this includes property sales.
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