Imtilak Special offers. Apartments in Bahceyaka Project "50% down payment and the monthly installments starting from $565"

Turkish Real Estate Sales Are the First in Europe

Real estate sales in Turkey increased by 5.1 percent in 2017 compared to 2016...

5,976
2018-03-25 Last update 2020-02-12

Turkish Real Estate Sales Are the First in Europe

Real estate sales in Turkey increased by 5.1 percent in 2017 compared to 2016, with the number of properties sold in 2017 reaching 1,409,000 and 314 properties throughout the country.

Turkey topped the European list after the large increase in sales, which was expected especially after the large legal reforms carried out by the Turkish government, in addition to the facilities provided by the government and the private sector, as the period of installment offered by some private and public real estate companies to 240 months within some real estate offers.

The stamp tax applied to real estate sales in 2017, as well as the reduction in value-added tax (VAT) and land registry documents, have been exempted from the high demand for real estate because of lower selling and purchasing expenses.

These reforms have led to significant gains for owners of more than 10 percent. For example, an investor who has purchased a property of 500 thousand Turkish liras has been able to save 57,000 and 500 Turkish liras in the form of a reduction in the purchase and selling procedures, This generally led to real estate growth of 18.7 percent in the third quarter of 2017, the highest rate in the past three years.

Source: Emlak Haber TV

More from Imtilak
Erdogan | Istanbul Canal Project Cannot be Postponed

President of the Republic of Turkey Recep Tayyip Erdogan stated that the Istanbul Canal project is a project that cannot...

2019-12-13
1,715
Moody's Raises its Outlook on Turkey's Economic Growth

Turkey's economy is growing faster and faster than expected, Moody's International said in its report on the global econ...

2019-11-16
1,382
Privacy Policy

We use cookies to offer you the best possible user experience, learn more about how to use them