Bodrum has been one of the top cities when it comes to real estate investing and emerging job opportunities. Today, real estate is one of the most sought after business sectors of the world. It plays a critical role in representing a country’s national economic health and other parameters such as the GDP. In Turkey, the real estate sector is the second largest contributor to employment generation, after others.
Titles
Current real estate scenario in Bodrum
- The real estate in Bodrum has grown in importance since the liberalization of the economy. The emergence of the middle class, nuclear families, suburbanization, rising housing needs, and loans are the fundamental factors that supplement residential and commercial real estate growth.
- Turkey's southwest household saving rates have increased due to disposable income. The right way to leverage these savings is to invest them in a commodity that guarantees wealth creation in the future
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Foreign Direct Investment in Turkey
- The importance of Foreign Direct Investment for developing nations cannot be undermined. It brings in an inflow of resources, technological advancement, and drives economic growth to a higher trajectory. The Authority of Turkey has recognized the need for FDI in Turkey and has liberalized it for the real estate sector, allowing an investment of up to 100% for certain developmental projects. These sectors include housing, townships, new construction projects, and built-up infrastructure.
- Private Equity and Venture Capital investments in the real estate have amounted up to 1.47 billion US dollars between January and March 2019.
- This is great for buyers as there is increased transparency and due diligence standards are met.
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Rising Demand for luxury property
- Demographics such as population and urbanization have played an important part in the rising demand for residential, commercial, and retail real estate.
- According to a recent report, Turkey is leading the four fast-growing countries within the real estate sector followed by Brazil, Russia, and China with a compound annual growth rate (CAGR) of 5.2% in the 2014-2018 periods.
- This indicates that it is currently a good time to buy property since the development of new, affordable properties is on the rise.
Advantages of investing in real estate in Bodrum
1. Tax exemptions in real estate in Bodrum are one of the best ways to attain wealth. It makes it easier to reduce tax liabilities. Listed below are some of the tax benefits one can enjoy
- Section 24 – this section, one can claim exemptions on the interest paid on home loans.
- Section 80 C – section 80C, one can claim tax benefits on repayment of the principal amount.
- Depreciation – estate protects your wealth as you can write off part of the value of the asset, thus reducing your tax burden.
2. Appreciating Asset
In the long run, the value of real estate in Bodrum assets is predicted to be on the rise and will remain to be high yielding. A part of this is because Turkey is rapidly globalizing, thereby creating more alliances and opportunities for people to live in the country.
3. Good Long Term Investment
Estate investment is deemed to be a safe investment option since it is not just an asset for the future, but also a usable commodity in the present. It has been and continues to be a good long term investment as compared to stocks and derivatives in terms of the steadiness.
4. Verdict – To Invest or Not to Invest in property in Turkey
Turkey in line to become the largest economy in the world in 2030, taking over the U.S., your real estate investment will be not only safe but also rewarding. The advantages or benefits of real estate investment in Turkey are plenty. With exemptions on taxes, the role of government policies, and FDI, the real estate market is moving towards being more affordable.
5. Save Wherever Possible
Cutting down on any expenditure which is not essential will go a long way in helping the individual save for down payment. A potential home buyer can apply the thought process to multiples avenues of expenditure ranging from the entertainment expenditure (the amount an individual pays on movies, at restaurants, etc.) to the amount an individual pays for fuel monthly when compared to the amount he or she would pay by availing of public transport.
6. Invest in SIP
A SIP, or a Smart Investment Plan, is a great idea to save up for your dream home. With a SIP, every month, a fixed amount from your salary gets deducted and saved for future use. This amount multiplied with interest that added at regular intervals, and there! You have a consolidated amount in hand which you can use for your down payment.
Let’s have a look at a property for sale in Bodrum
Location is the prime factor while buying the house in terms of your workplace, travel time to the city, schools, supermarkets, and every essential spot should be at your convenience. Your new home is going to be your house for a few years; hence, choosing an apt location which can be convenient for you is always important. In Turkey, locations like Bodrum are the best city for it.
This article shows you a blend of royal and premium living experience, with an immersed Turkey historical environment. Luxury properties in Bodrum, with its finesse structures and state of the art finishes, are getting recognized for its elegant craftsmanship and contemporary trends. Turkey a name of excellence and trust is a reason for the millions of smiles and dream houses.
- Ready to buy luxury property for sale in Bodrum at Turkey's southwest
In Bodrum, Turkey's southwest people know what they want actually and try to buy it with an increased level of fruitfulness and in Bodrum, Turkey's southwest Residency of II 2 BHK luxury apartment is an example of that. Its revamped designs and mesmerizing interiors give you a reason to brag in front of your relatives and loved ones. This elegant structure comprises of 350 families living happily within an area of 14 acres with all the modern-day amenities and serene environment.
Some of its amenities are:
- Green Environment
- Security
- Car Parking
- Club
- Earthquake Resistant
- Swimming Pool
- Elegant Designs
- Independent Floors
- CCTV
- Servant Rooms
Ready to buy Apartments in Bodrum:
If you are obsessed with gold standards, then Bodrum City Gold is an evident choice. This Bodrum City project provides you with a royal and premium blended personal space with a mix of luxury and class. Its appealing craftsmanship and astonishing interiors is an example of utmost comfort and modern-day living. The world-class state of the art finished structures will provide you with everything that you will demand.
Some of its amenities are:
- Natural Greens
- Tennis Court
- Swimming Pool
- 24 Hr security
- Great Connectivity
- Independent Floors
- Lift
- Open Gym
- CCTV
- Parking
Conclusion
A good amount of due diligence, market research, and guidance can go a long way when it comes to investing in real estate. Apart from a great wealth-building strategy, real estate also provides a buyer with security. Growing one block at a time, the real estate industry is expected to increase at a compound annual growth rate of 11%. With this kind of growth, real estate in Bodrum Turkey's southwest is an attractive market to invest in.
