Do you want to know how you can buy a commercial property at a low price? You're in the right place. Purchasing a Turkey property at a low price seems dreamlike to many. But that's not true anymore. With a lucid law of foreign investment, Turkey has opened their arms to foreign investors. With 100% cooperation from the bank and other financial organizations, you get an easy loan sanction. If it's a second-hand property, the bank gives more coverage. In the previous five years, Turkey has become one of the significant real estate hubs in the world. In a 783,562 km² country, with 8.2 crores of people, there is ample scope for developing real estate. Besides, there is an attractive offer of getting turkish nationality just by purchasing a country's property. Therefore, the craze for Turkish property has accelerated unbelievably.
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Pros And Cons Of A Turkish Commercial Property
Before taking a distinctive step, you have to consider both the pros and cons. Along with pros, there are many cons attached to a Turkish property as well. Before you buy apartment in İstanbul, know about the attractive pros of a commercial property:
- Citizenship: One of the most eye-catching aspects of owning a Turkish property is turkish nationality. You get a grant for citizenship as soon as you buy a property. This unique offer declared by the Turkish government has attracted many foreign investors to purchase property in Turkey.
- Availability of labor force: With a turkish property for commercial purposes, you get access to the cheap Turkish labor force. Turkish citizens are in search of opportunities. There is no absolute need for laborers from the outside of the country.
- Long-term profit: A real estate Turkey is like the lucky card in poker. It will bring you a long term profit without interruption. Property in Turkey never goes unused. You will find a use for your property anyhow.
- Standard living cost: Turkey is adjacent to Europe, but the living style is not very high. Even if you go for private property in the country, you will not face trouble maintaining your living standard.
- Low-cost real estate: Turkey's real estate is flourishing indeed. The ongoing projects sow seeds of opportunities in the land.
- Natural resources of Turkey: Gold, Iron, Mercury, Copper, and many more natural resources increase Turkey's value. Geologist believes several other natural resources are lying in the heart of Turkey. With a Turkey property, the benefits of these resources come.
Though cons are not much in weight, you should not look over those:
- Unusual interest amount: For a turkish property, you need to pay a more significant loan amount. The loan amount of Turkish banks is higher than other European countries. The banks take extra time for a loan sanction too.
- Decreasing real estate rate: The present state of real estate Turkey cannot match the demand for property. However, several ongoing projects will fulfill this increasing demand in the future.
Purchasing Real Estate With Minimum Down Payment
Q1. How to buy apartments for sale in Turkey at a considerable interest rate?
Ans. If you want to purchase the property for a commercial purpose, state your business idea to the bank. They will evaluate your income flow. When your property has an immense possibility of running an uninterrupted business, the bank will consider a higher loan amount for you. The minimum coverage is 30-40% for a commercial property.
Q2. Can I turn my personal property İstanbuls into commercial property?
Ans. Yes, with the proper paperwork, you can do that. Once you get the legal department's nod, your personal property is immediately turned into a commercial one.
Q3. How to get more coverage on commercial turkish property?
Ans. The primary reason for less coverage on a Turkish commercial property is the uncertainty of the flow of income. If you can show your bank an uninterrupted revenue flow, they will grant more than 40% coverage on your commercial property.
Q4. How to buy apartments for sale directly from the seller?
Ans. Authentic real estate agents like Property.com offers direct purchasing from a seller. By omitting the role of the bank, you can escape some legal complications. Ultimately, you can buy the property directly from the seller by negotiating the price.
Consider The Primary Aspects
Q1. What is the essential factor while buying a commercial property?
Ans. Be it a commercial or private property, the essential aspect of a property is its location. Before buying a commercial property, the area has to be considered. To buy apartment in Turkey, take a survey of the locality's lifestyle, culture, people, transport system, etc.
Q2. How to invest in the Turkish hotel industry?
Ans. If you choose the hotel industry for your commercial property İstanbuls, you must have made a sage decision. This is a flourishing industry in Turkey. By 2023, the expected profit of the sector is 12.4 billion USD.
Q3. What is the maximum limit of a Turkish property?
Ans. When you search for "apartments for sale in Istanbul," you must know what's the upper limit of a Turkish property. You cannot buy a property amounting to more than $250,000. You can buy three properties within this limit or one.
Q4. What is the tax rate in Turkey?
Ans. Do not worry about the tax rate before you buy apartment in İstanbul because there is no extra tax for expatriates. The usual tax rate is 20% of your business revenue.
Prosper In Turkey By Abiding Law
Commercial property in Turkey is a treasure at any time. As soon as you buy an apartment in Turkey for commercial purposes, you will start earning. Now maintaining that property for years becomes a challenge. Therefore, you must always keep in mind that proper paperwork increases the longevity of your property. The apartments for sale in Istanbul are plenty in number but finding one with proper paperwork seems challenging. Only a real estate expert is your dedicated guide to a legal, flawless property.
