Bursa real estate market is generally cheaper and has easier access to it than Istanbul.
Bursa property is genuinely profitable because of its location and highly used opportunities. Bursa is only an hour of drive away from Istanbul and it has various tourism spots. For example, there is a mountain named Uludag which is used for winter tourism and attracts tourists from all around the world. Or there are more than a few mosques that are definitely worth seeing.
In a nutshell, this city has a very high potential for investors. And if you selected to invest in Bursa, there are some alternatives.
If your decision was to invest in Bursa property, this will indicate you need to learn about the legal ways.
Titles
1. Fees
Prices of houses for sale in Bursa Turkey, change from location to location. But it is almost half the price of houses in Istanbul. You can find very modern apartments near the city center for 25.000€ or you can get a big house in the city center with parking lots, access to the pool, gyms, and multiple rooms for 400.000€.
Bursa is already cheaper than Istanbul in many different ways but when it comes to real estate the price difference can be really seen. Living in Bursa is cheaper because it already produces almost everything they consume which helps to create a cheaper market for from products of textile to food. Many large companies have factories in Bursa but this city is already known all around the world for their high-quality textile products including the most famous and most desired towels and high-quality silk.
2. Taxes
The law in Turkey indicates that there are three main types of taxes. Which can be listed as, expenditure, wealth and income taxes. If you invested in property in Turkey as a foreigner you will pay income taxes. But the taxes will be calculated depending on the time you spend in Turkey. If you spend more than six months a year in Turkey, you will be counted as a resident tax-payer. This will mean that your income will be determined from your profits in and out of Turkey.
But if you are a non-resident tax-payer meaning that you do not spend more than six months a year in Turkey, your taxes will only be calculated from your income in Turkey.
Your income taxes are not just for your immovable it will also cover your movables.
3. Regulations
Any investors from all around the world are welcomed to invest in Turkey. They will be treated like they are domestic investors. The government has created various incentive plans to attract investors, like giving Turkish citizenship to anyone who bought an immovable for over 250.000$.
