Imtilak Properties

The Turkish government has begun to develop a new way for enabling investors to own property in Turkey easily. Although it will be primarily aimed at facilitating the acquisition of lower income individuals in Turkey, it also will be a great opportunity for foreign and local investors working in the construction and real estate development.

In this way, the real estate owner can save a certain amount of money in an account opened in one of the Turkish banks to which the government makes agreements with. The amount is kept in this account for a period of time under the disposal of the government, thus, the government will operate this amount, and then at the end of the period specified, the amount will be given back to the owner with the percentage of profit obtained after its operation by the government, consequently, the government aims to encourage those willing to own property, and facilitate the possibility of ownership at the same time, also providing new opportunities for investment in Turkey .. The Turkish government is working to take advantage of the German model applied in this area.

The amount of government support on savings or saving accounts that will be opened by those wishing to own property will reach approximately 20 percent. The government will also grant some tax exemptions to those entering this system while buying real estate in Turkey, and many facilities will be disclosed in this context by the relevant ministries in the Turkish government.

Source: hurriyet