Evolution of the Real-estate Market in Turkey.
The acquisition of a house outside the borders of the homeland has become very common during the 25th century. With a large number of countries allowing foreigners to buy and live in their land. The buyer wants to know the reasons behind the purchase of Real-estate in Turkey. You find these investors looking for answers to help them decide if this country is the right choice to settle in or not. Is it a worthy investment, an ideal future destination if they plan to move there?
Here’s a glimpse on the evolution of the Real Estate market.
Previous to 2000, Turkey’s real estate market has ranked among the last in terms of modern designs and innovative skills. This sink was due to the limited-market in Turkey. Lawns were not approved, and people would not risk money and time to invest in non-common new features of housing. Often you find more than three generations of a family living under one roof. Architects mainly migrate abroad, in a try to find a market that can suit and supports their skills.
With the start of the 21st century, The Turkish Real-estate market witnessed a huge change. Banks made real estate lawns a prominent factor in their investment in projects, and the construction field witnessed an extensive campaign to modernize and develop the architecture and engineering design of houses.
Following the launch of the sale of real estate and land in Turkey since 2003, many changes have been made, for the new constructions, in the legal systems, the architectural systems, and housing. They were all in favor of the buyer. It was a necessary step to modernize Turkey’s real estate market.
In late 2018, the government made amendments on the law of buying property in Turkey. Foreigners became entitled to Turkish citizenship if the value of the property was $ 250,000 or more. They are not limited to one property they can own more than one real-estate and can invest in these properties.