TURKISH REAL ESTATE TO BE PURCHASED IN TURKEY IN CASE OF: REAL ESTATES ACQUIRED TO THE CONTRARY OF THE FOREGOING,
Real estates without structures discovered to be used in violation of the purpose of acquisition and for which an application is not filed with the Ministry on time or for which projects are not completed on time.
Real estate and limited rights in rem acquired through inheritance that exceed the provisions restricting foreign acquisition.
The owner will be given one year by the Ministry of Finance to transfer the real estate; otherwise, it will be received and an appropriate amount will be assessed and paid to the owner.
Buying Property in Turkey Benefits at a Glance:
- As the construction progresses and the properties near completion, their values rise because there is less urgency to sell them and prospective buyers can get a better idea of what the finished product will look like.
- As the construction progresses and the properties near completion, their values rise because there is less urgency to sell them and prospective buyers can get a better idea of what the finished product will look like.
- As a foreigner, you will not have to pay capital gains tax if you sell your property before completion or if you sell brand new property within 5 years.
- Off-plan properties are usually very competitively priced because the developer wants to maximize the amount of cash he has to fund the development. In other words, the more cash the developer has, the less he has to borrow, and the less he borrows, the less interest he pays to his bank.
- You can select a prime location within the development and often specify the furnishings and decor of the property, all of which contributes to a higher return on your investment.
