Feb 5, 2023

Georgia vs Turkey Real Estate

In the world of real estate investment, there are many differences between cities and suburbs, let alone between countries! It is certain that each country has its advantages and differences. With regard to real estate investment, there are significant differences and variations that may occur between countries. Each country has special laws and well-studied conditions, what is permitted and what is prohibited, and what may be permitted in Georgia may be prohibited in Turkey and vice versa.

In the past ten years, Turkey has proven to be a difficult figure at all levels, especially at the economic and investment levels. It is a country with great economic weight, and what distinguishes it most is its strong economic capital and the prosperous wheel that never stops, Istanbul.

The name of Turkey real estate has gained a lot of fame in the recent period, and the hype about Turkey real estate has been written in all real estate and economic magazines due to its wonderful features that distinguish it from others.

In this article, we will explain some of the differences and comparisons between Georgian real estate and Turkey real estate and investing in each of them.

Real estate investment in Turkey

Buying Turkey real estate has many advantages and positives, the most important of which is that you will be residing on the territories of one of the important countries that have achieved advanced ranks in terms of economic and cultural power. If you buy a property and live in it, you will in return get comfort in living, facilitating life and reducing its difficulties. However, if you do not want to live in it and you bought it only for trade and investment, in this case you are also a winner because you will make money at the end of the month through rent. If you buy the apartment and live in it, you will raise your children in a safe environment that includes a great mixture of cultures, and this itself is a great gain. In addition to that you will get to reside and live in Turkey thanks to this property.

An obvious advantage of buying Turkey real estate is the favorable visa regime and easy procedures for obtaining a residence permit. Citizens of many countries can visit Turkey for tourism without wasting time and money applying for a visa.

Here we will leave you with the most important advantages of buying Turkey real estate:

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Obtaining Turkish citizenship

One of the most important features of Turkey is that you can obtain Turkish citizenship when investing in Turkey real estate, but how? According to the recent updates to the real estate ownership law enacted by the Turkish government, foreign investors have the right to obtain Turkish citizenship in exchange for purchasing a property or group of properties worth $400,000 from a Turkish citizen, provided that this property is not sold for a period of three years. In this case, the investor obtains Turkish citizenship within only 90 days. The investor's wife/husband and children under eighteen years of age also receive the benefit.

Obtaining real estate residence permit

There are many investors who do not want another citizenship, or do not want to obtain it in a hurry, or do not have the amount required to buy Turkey real estate that leads to obtaining citizenship. This category of investors can obtain real estate residence permit in Turkey by purchasing Turkey real estate worth $200,000 in any city in Turkey and obtaining real estate residence permit without any problems. It is worth noting that in this case, the investor can apply for Turkish citizenship five years later.

Ease of renting

First of all, investing in Turkey real estate is beneficial because of its high liquidity. Apartments in residential complexes, which offer a wide range of services and are located in areas with developed infrastructure, are in high demand for year-round rentals. It's attractive for resale too. What is important is that some real estate agencies offer purchase options with an already guaranteed rent. For example, you can get a guaranteed rent of €5,000-6,000 per year if you buy a relatively small apartment this way. The process of searching for tenants and handling all related issues will be the responsibility of the agency.

Real estate investment in Georgia

You may consider real estate investment in Georgia as unprofitable due to the small area of Georgia, but the reality is totally different. This country is developing rapidly, as Tbilisi is one of the cities that attracts many tourists from different parts of the world. This city has received the attention of many foreign investors, which has made the real estate investment market in Georgia Tbilisi more competitive.

Today, Georgia is witnessing a major renaissance in the field of construction and contracting in general. The state is making every effort to develop infrastructure, public services, facilities, and everything related to the real estate investment market. This development and progress has changed the direction of Georgia from a collapsed state in the former Soviet Union to a developed state. Advanced and modern, construction and real estate projects in Georgia now make investment in this field highly profitable and very profitable, making it a destination for many Arab investors.

Among the advantages of real estate investment in Georgia is that the prices of real estate in Georgia, even villas, are very suitable for any investor, and at the same time, the investment profit from them is very high, as you can buy any hotel apartment in one of the upscale neighborhoods in Georgia at a price that suits you, starting from $60,000.

Conditions of real estate investment in Georgia

Before you invest in real estate in Georgia, you must know some conditions regarding this, which are below:

Property cannot be negotiated in Georgia

The real estate purchase process in Georgia does not involve a lot of bargaining, unlike many other markets. In fact, many Georgian citizens will not give up a few thousand dollars more than the price they ask for in the process of selling their property. They look at the matter that they will not sell their homes every day and therefore it is A unique opportunity to obtain the highest possible price from the buyer.

All transactions in real estate investment in Georgia are in cash

There is an interesting thing about the real estate markets in Georgia, which is that all transactions are carried out in cash, and here you will need to take money with you, because Georgian sellers keep their money in US dollars. They also ask you to pay the registration requirements, which are paid in local currency, which is not the proper way to do business, yet it is the way real estate market is handled in Georgia.

In conclusion, it can be said that Turkey and Georgia real estate offer exciting investment opportunities in the Middle East and Europe. Each country has its own features and different laws.

Turkey real estate is diverse, and contain many investment opportunities, especially in major cities such as Istanbul, Antalya, Izmir, and Bursa. On the other hand, Georgia is characterized by flexible investment laws and picturesque nature, which makes it a good destination for investors looking for small to medium-sized investment opportunities.

Investors must pay attention to multiple factors when deciding to invest in Turkey real estate or Georgia, which may include location, real estate market, investment laws, and economic trends. After studying all aspects, investors can make the decision that suits their investment goals and needs.

If you would like to know more about real estate investment in Turkey, do not hesitate to contact us via WhatsApp, here. The real estate consultant will contact you immediately.

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