Investment factors for Turkey

With some of the highest potential capital appreciation currently available, a stable political sphere, strong growing economy and thriving tourist sector, Turkey is under serious scrutiny by international investors of both commercial real estate and residential real estate. With the possible integration of the country into the European Union in years to come, the outlook for a continued healthy increase in property prices seems very likely.

The Turkish government, actively promoting foreign interest in real estate investing, has taken several steps to make these investments easier to plan and execute and offers several beneficial financial conditions for investors, such as allowing 100% freehold ownership by foreign nationals, declaring exemption from inheritance tax to direct relatives and removing capital gains tax if the property is sold after a minimum of five years after purchase.

Risks Assessment
Assessing the risks is one of the most important factors when investing in property, locally or overseas. All of the factors which may influence the property you are purchasing and the demand for property like the one you are purchasing should be analysed. Also, deciding on a timeframe of when to buy and an exit strategy is of the utmost importance, as buying at the right time is as important as selling at the right time to maximise profits.

For example, in Turkey you may consider a minimum exit strategy of five years after purchase, to avoid paying capital gains tax. As Turkey is still at an early stage of the property market, now would be a good time to buy, aiming to sell near to or just after Turkey enters the European Union in 2015 when the sector nears its peak.

The steady growth of the economy and the tourism sector, along with considerable growth forecasts for the area of commercial investment point to a steady increase in demand for primary residences and secondary residences, as well as temporary residence requirements as companies open and the population shifts to new commercial and residential hubs around the country. It is important to determine what is available in the direct surroundings to your property. Are there all the facilities a primary residence requires, such as shops, schools, banks, businesses providing employment, etc or are you more suited to secondary residences, ie, near the beach with ample entertainment infrastructure nearby.

As always with real estate investments, patience and holding on until the perfect time to sell is an absolute necessity to reap maximum returns on your investment.

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