New laws for foreign investors in Turkey
Construction sector in Turkey became a vital bussines as to arouse the local markets. Beacuse of this reason Turkish goverment give higly importance to construction sector.
Turkey wants to have more pieces of cake at the foreign investments in abroad.
Recently Turkey has prepared new law about Property Tax regulation for foreign investors. The new law that allows the introduction of value-added tax (VAT) exemption for foreigners who make real estate investments in the country, speculating that the sales to foreigners would soar.
The law, which was passed in parliament late on Feb. 23, will also be applicable to Turks who have been living and working abroad for more than six months.
Foreigners will not pay VAT for their first offices or houses in Turkey under the condition that they make their acquisition payment in foreign currencies and do not sell their properties for at least one year after the acquisition.
Earlier in January 2017, Turkey also vowed to grant citizenship to foreigners who buy properties worth at least $1 million and keep them for at least three years.
As we are IDEAL Real Estate joining several Property exhibitions in many countries during the year. We are explaning one by one to people how Turkey safe and stable.
We have focused lately in Scandinavian countries that we want to to rise up the tourist figures and secnd home buyers. Instead of leaving the markets, now the time is to work harder to show more visible beauties of Turkey.
To buy Properties in Turkey is much eaiser and faster now. After the new regulations regarding to buy Property in Turkey, we expect more foreign investors in 2017.