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Why this is a great time for buying second hand property in Bursa?

25 August 2020
Why this is a great time for buying second hand property in Bursa?

Buying Second hand property in Bursa is gaining impetus among investors for some time now. Yet, should you think of making a real estate investment just because it is in trend? The golden rule say do not just believe hearsay. A successful investment needs though knowledge through research and impeccable foresight. Believe in trends and forecasts only when they are powered with right facts. But for Turkey, the facts and statistics define why you should set your eye on the Turkish real estate market. In 2019, 455,000 houses were purchased. Asian, European, Iranian and Iraq citizens are among the most prominent investors. bursa is one of the brightest emerging destinations.

Budding destination for buying second hand property in Bursa.

Investors from Arabian countries were the primary investors for Best second hand property in Bursa till a few years ago. But in recent times Bursa has emerged as one of the top choice for investors from Europe and other Asian countries for definite reasons. bursa a city steeped in history and culturally rich atmosphere attracts many enthusiastic investors from across continents. Villas and apartments at bursa appeal to both type of buyers who are looking for investments as well as those who are aiming for a residence. Enhanced connectivity with Istanbul is also a factor which attracts buyers to bursa.

Pay less for a second hand property for sale in Bursa

Price is one of the major determinants which govern real estate investments. Bursa offers extremely attractive prices for its buyers. A standard two bedroom apartment at bursa Costs $65,000 and a specious bungalow costs $ 300,000 approximately. This price is very less as compared to similar properties at Istanbul. The prices are expected to appreciate considerably in coming times. Thus, a lot of investors prefer bursa as compared to other cities like Istanbul which are costly. The present time seems suitable for buying second hand property in Bursa.

Bursa as an economic nerve center of Turkey

The demand for Second hand property for sale in Bursa, are also in demand because of the fact that Bursa is fast emerging as one of the major economic hubs of Turkey. It is one of the major production centers of Turkey. The presence of textile and car industry is another big advantage that buyers of real estate investors count upon. The presence of world renowned automobile bands like Fiat, Renault and Peugeot has placed it among the top investing cities of the world.

Residents have high employment prospects and a low cost of living. Property in Bursa thus offers a great opportunity for rental income. Bursa is all welcome for foreign investment. Foreigners can register properties in their name unless it is a agricultural land. Thus, a second hand property in Bursa bought at a relatively cheaper price in current time is sure to appreciate highly in coming years.

Property Tax for buying second hand property in Bursa

Property tax is important aspect of real estate investment. If you are planning for buying second hand property in Bursa you should have clear idea about tax levied by the Turkish government on property sell and purchase. Buyers have to pay a percentage as property tax to the municipality. Per annum tax is calculated ranging from 0.1%to 0.3 percent depending on the kind of property you own. The tax rates may change from time to time. When you are buying a second hand property, you must check if property tax is properly paid for the concerned property. This is another reason why bursa is gaining popularity as a real estate investment destination. Property taxes are relatively lesser than Istanbul. This serves to be a major benefit of buying second hand property in Bursa.

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