Bursa is located in northern Turkey, a large city with an excellent modern approach playing a huge role in Turkey's economy with two of the main industries being textiles and the car production industry. Bursa is also Turkey’s second largest export area next to neighbouring Istanbul which sits on the opposite shores of the Marmara Sea easily accessible by the regular car and passenger ferry services.
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; most of the people prefer second hand property in bursa. 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. The city also has a growing affluent population of well-educated citizens, all this making Bursa a hotspot for property investment for the foreseeable future specially second hand property in bursa.
Titles
Who Buys Property in Bursa?
Apart from Turkish citizens, the main owners of real estate in Bursa are from the Arab countries, who tend to know a good real estate investment when they see one, often buying second hand property in bursa, holiday homes, or buy-to-let investment properties, and have infused Bursa with millions of $’s over the past few years.
Arabs tend to prefer Turkey to other western areas, mainly because it is a predominantly Muslim country, in which they feel more comfortable and relaxed. Another reason Arabs choose this area is because accommodation for sale In Bursa is often considerably cheaper than in Istanbul, another popular area for Arabs.
Why Buy Property in Bursa, Turkey?
With Bursa’s strong economic growth and affluent population, Bursa, like Istanbul, is an excellent area for property investment, not only does it offer long term rental potential, it also offers short term holiday rentals all year round, being located at the foot of the Uludag mountain which hosts one of Turkeys popular winter skiing resorts, and also very close to the popular seaside resorts if Mudanya and Yalova, short term rentals are also great in the Mudanya and Yalova areas as many people come to visit the spa centres in the area for health reasons.
Bursa Accessibility
Accessing Bursa is easy, it has its own airport with many domestic and international flights, as said above Istanbul is easily reached by the ferry’s, and the excellent road network in Bursa also links you to all of the south coast holiday destinations, such as Fethiye, Bodrum and Antalya, with regular bus services running every day from Bursa’s national bus station.
Property Types
Accommodation in Bursa, Turkey comes in all shapes and sizes varying from old to new, as Bursa was one of the first Ottoman settlements and you still find some stunning Yali mansions along the shores of the Marmara Sea with huge price tags should they appear in the market.
Central Bursa property for sale offers many modern apartment complexes, often with huge plots hosting an array of on-site facilities or smaller boutique style complexes for a more elite style of living. Luxury villas can also be found in central areas all depending on your lifestyle requirements and budgets. A modern 2 bedroom luxury apartment can be purchased in the region of $70,000 and large private detached homes can be found for around $300,000, search for these types of properties in Istanbul and you can expect to see prices more than double than Bursa.
Turkey Homes will guide you to your ideal Bursa property, taking into consideration, your lifestyle requirements and available budget.
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 or second hand property in bursa. 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.
Conclusion
This is the 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.
