Increasing interest of Iranians in buying property in Turkey / Should we buy an apartment in Turkey or not?
According to Tejarat News, the housing market in Iran does not have suitable conditions; On the other hand, the general state of the economy and international relations has caused the value of the national currency to decrease every day compared to the previous day; These two cases can be seen as the reasons for capital migration and property purchase in Turkey.
According to the data published by the Turkish Statistical Center, despite the February earthquake in Turkey and the possibility of experts in this field to reduce property purchases in this country, 446 houses were bought in February and 526 houses in January in Turkey by Iranians.
Also, according to other statistics of Turkey, Iranians have taken the second place in buying property after Russians.
But in general, home buyers in Turkey are divided into several categories, and what kind of harm can the withdrawal of this amount of capital bring to the housing market in the country?
Why do Iranians buy houses in Türkiye?
Mansour Ghaibi, an expert on the housing market, told Tejarat News about the types of property applicants in Turkey: Turkey is a country that is used as a destination for immigration to European countries and even America in some cases. As a result, it is a cheap destination with incentives that make it possible for an investor to acquire citizenship and obtain a Turkish passport through the purchase of a property, and thus be chosen for a destination with difficult conditions.
He continued: Another reason for choosing Turkey is the devaluation of the national currency. People consider that with around five billion to six billion tomans, which may not be used to buy a 50-60 meter house in a suitable area, they can buy in another country with an international face. Because they believe that no matter how much this increase affects their property, its value will be estimated based on dollars, and as a result, it will be profitable; Another dimension is investment.
Conditions for renting an apartment in Türkiye
This housing expert also explained about the profitability of renting an apartment in Turkey as another factor for investment: In Turkey, there is no such thing as a loan or a mortgage, the highest mortgage limit is one month’s rent, which is taken in advance, as well as the rental price. Property in this country is higher than in Iran, as a result, renting property can also be considered profitable for an investor in this country.
He also said: The fourth category is also people who consider Turkey as a station for seasonal stay and recreation. In addition to this fourth category, some people are interested in having an apartment in that area to use it for their stay, since Iran’s international and economic relations are a little more than in the past.
Ghaibi also said about the existence of brokerage activities in this market: of course, brokerage has also increased in this field recently, and the number of traders who have corporate and investment companies and the like has increased, and these traders have started marketing real estate.
Currency withdrawal from the country by buying property in Türkiye
According to Hamshashari online calculations, the number of houses purchased in Termeeh by Iranians shows that with the dollar, about 42 thousand tomans, more than 16 thousand billion tomans of foreign currency have left the country.
Ghibi explained about the effects of this currency withdrawal from the country: I believe that this currency withdrawal from the country will not have a complex effect in the form of buying property in Turkey, but the psychological aspect of this issue is more for the government and the people.
He also said about the remaining of this capital in the country and its effect on the housing market: naturally, it could have had a positive effect, but the issue should be examined from the point of view that regardless of the amount of investment, the reason why our people are in another country What is capital transfer?
He continued: This factor should be investigated by experts so that instead of Iranians investing in another country, Iran becomes a destination for foreign investment. In our country, there are no rules for investing a foreigner.
Encouraging people to invest in the domestic market
This real estate expert also said: When a person reaches the point of involving his capital in another country, he should be invited to the country again from another direction. In general, Turkey is a consumption destination for the middle class and even the lower middle class.
Ghaibi stated: Currently, the Mehr housing project has been 15 to 20 years since its beginning, and it has not yet been completed, and the ministers of the 13th government have promised to close the file of this project by the end of the summer of 1402. It can be said that the damage that we have become possible due to the lack of timely delivery, price increase, rise in the price of materials and the like is much more than this 16 billion. It is based on these calculations that I say that 16 thousand billion tomans is not a number that wants to cause problems in the housing market.
Profitability of buying property in Türkiye
This housing market expert also said about the profitability of investing in the Turkish real estate market: In general, people cannot be invited to invest in Turkey, because in any case, domestic capital is leaving, but unfortunately, Iran’s economic situation is now like this. that if people invest in a field whose value is determined by dollars, it will be profitable for them.
He continued: But it must be said that the situation will not continue in this way, either in Turkey or in our country, because if a relative equilibrium is established economically and the value of the Rial increases, investing in Turkey can no longer be recommended. Currently, even if its economic situation is not worse than that of Iran, Turkey is economically inflamed.
Ghaibi said in this regard: On the other hand, according to Turkish laws, an Iranian investor cannot buy or sell property from a non-Turkish person, so the level of liquidity decreases to a great extent and the person may be forced to sell his property below its real value. sell it
This housing expert also explained: On the other hand, these people may suffer with the decrease in the price of the dollar in the country in the future. For this reason, buying property in Turkey is not recommended for short-term investment to earn profit.
If the current situation continues, the disorder and possible stagnation of real estate transactions, especially in May and June 1402, it seems that the outflow of capital and the purchase of property in neighboring countries such as Turkey and Cyprus is another problem that Iran’s economy and housing market will face.
This is despite the fact that the conditions of buying property in Turkey and despite the restriction of transactions with non-Turks and as a result the decrease in liquidity of apartments can also bring problems for these investors.
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