Exemption from VAT in respect of Turkish citizens living abroad as well as foreign citizens is expected lead to an increase in mobility in the market of real estate in Turkey. Such statements were made by experts in the real estate market after the adoption of a package of laws relating to exemption from VAT.
Many citizens and companies waited for this decision for a long time. Now citizens, who had some problems with the purchase of real estate, can get rid of VAT and that certainly is a powerful incentive for the purchase. As a result, experts predict a large increase in the growth rate of demand for housing, which will stimulate the economy in general, the construction and industrial sectors in particular.
At the same time, the VAT exemption of foreign purchaser of real estate has a positive impact on the economy and the real estate market. Foreign exchange earnings from foreign property buyers will significantly strengthen the Turkish economy and will accelerate the pace of its development. Construction companies implementing projects in modern European quality standards. And of course this property attracts the attention of foreign buyers and investors. Leaders among the foreign buyers of Turkish real estate are still citizens of the Middle East. Most of them prefer to buy property in Istanbul and in the areas located on the shores of the Black Sea. The extraordinary beauty of nature, combination of mountains, sun and sea attract foreign buyers.