What is tourist real estate? What are its advantages in Turkey?
What is tourist real estate? What are its advantages? Is it worthwhile to invest in tourism real estate in Turkey? Also, learn about Imtilak real estate advice in this field.
What is tourist real estate? What are its advantages in Turkey?
Get to know all the buildings that fall within the tourism and commercial real estate sector in Turkey, the investment advantages that it has, and the facilities provided by the Turkish government to investors in this sector, through the first destination of the investors in Turkey, Imtilak Real Estate.
Table Of Contents
- What’s tourist real estate?
- Is investing in tourism real estate in Turkey profitable?
What’s tourist real estate?
Tourist real estate includes all buildings used to serve tourists, in places where tourists are frequently present, such as restaurants, cafes, and places of rest, which receive visitors during their trips between cities and provide them with all services related to food and drink and provide them with the required comfort.
Tourist real estate also includes a series of international hotels, whose branches are spread all over the world, and marketing malls are included in the tourism real estate, as one of the most tourist real estate projects, which receive a great turnout from visitors at various times of the year.
In addition, there are some buildings, which can be classified as tourist real estate, such as annual rental houses, and seaside summer houses, which are called chalets.
There is so-called commercial real estate, which includes offices, shops, restaurants, hotels, warehouses, warehouses, factories, and other buildings used for commercial purposes.
What are the types of tourist real estate?
Turkey has a strong raw-material infrastructure to provide many areas of investment in tourism real estate, and the diversity of investment business sectors in such areas, which contributes significantly to the success of any investment project.
Therefore, those who want to go into business tourism can find in Turkey a range of opportunities, which can be used to create different types of projects, which will generate huge profits.
The main types of tourist real estate in Turkey include:
Investment in commercial malls
Among the most prominent types of tourism investment in Turkey, investment in large commercial malls within modern cities is built in a form commensurate with the possibility of many businesses, contributing significantly to the growth of commercial traffic, and doubling tourism investment opportunities in Turkey.
Also, these malls host many large shops, which include the most famous local and international brands, in addition to that, they include a series of well-known restaurants in Turkey, game halls, cinemas, and other commercial activities.
Investment in the hotel sector
Investment in the hotel sector is also one of the best types of investment, in terms of high returns in this sector, as the annual profit rate rises to between 8 and 15% of the real estate value.
It is possible to invest in these 4 or 5-star hotels, which enjoy a high distinguished reputation, and a great experience in the local and international markets.
There are some other tourism real estate investments that can create various opportunities for investment businesses, such as:
- Investing in shops.
- Investing in commercial offices.
- Investing in restaurants
- Investing in stores and warehouses.
- Invest in factory buildings.
Advantages of investing in tourism real estate
The diversity of tourism investment sectors that we talked about in the preceding paragraph provides a solid ground for multiple investment features that can be available in the service of those who want to invest.
For this reason, Turkey has turned over the past years into a destination for investors and businessmen, with the aim of investing in its development, real estate, and tourism projects, thanks to the presence of a number of advantages that encourage investment in tourism real estate in Turkey:
- Turkey occupies a distinct geographical position along the Asian and European continents, located next to the many Arab countries.
- Being a global center in the financial and business market and major commercial centers, in the Middle East and Europe.
- It contains a huge group of tourist cities, which include in its fairies all the tourist elements that a tourist wishes to visit.
- Having a strong infrastructure, which helps to create projects in all their forms, provides a vital network of communications, covering most of the country, and the diversity of land, sea, and air transport lines located there.
- The presence of one of the largest airports in the world, Istanbul International Airport, provides safe and fast transportation, inside and outside Turkey, in addition to the cargo planes available through it to all parts of the world.
- Not to mention the other domestic airports, which enable you to reach various Turkish states in a short time.
- The huge area that Turkey enjoys, and its location bordering on many Arab countries.
- Great cultural diversity, customs, and traditions of Turkey, which closely resemble the customs and traditions of Arabs.
- The historical richness of religious and archaeological sites, and the great value for them in tourism, especially since it is one of the few countries that has fused many human civilizations on its soil.
- Large cities form global commercial and tourism markets, such as Istanbul and Antalya.
Is investing in tourism real estate in Turkey profitable?
Real estate investment in Turkey in general, and in the tourism real estate sector in particular, is one of the distinctive economic activities in the world, which has formed a magnet for many leading foreign energies, in recent years.
There is no doubt that many of the investment features mentioned earlier, and with a wide range of investment opportunities to be mentioned later, investors can achieve successful investment in tourism real estate in Turkey.
Government encouragement of foreign Investment In Turkey, which provides various forms of support, and significant reductions in value-added, also ensures that entrepreneurs are successful in investing in what they wish to do.
What are the investment opportunities in tourism real estate in Turkey?
The Turkish government has introduced some laws and legislations, which aim to attract foreign investments to the country, and has also provided many investment opportunities, in the tourism real estate sector in Turkey, such as:
- Exempting the foreign investor from the value-added taxes in commercial and tourist shops completely, and results in bringing some foreign currency to Turkey, and proving this with official transfer receipts.
- Support construction materials in rural materials and hotels, at more than 60% of the general value of construction.
- Allocation of land for tourism investments at reduced rates, with a view to establishing vital tourist facilities, such as hotels and rest places when traveling.
- Exempt investors from VAT for operating materials, when imported from abroad from 18% to 8%.
- Reducing the value of taxes for all real estate, regardless of type, from 4% to 3%.
- Reducing value-added tax in commercial stores from 18% to 8%.
Imtilak real estate tips for those wishing to invest in tourism real estate in Turkey
We offer to all interested customers various types of business and tourism investments in Turkey some advice, which ensures that their enterprises are best successful. If the project is a business office, the following conditions should be met:
- Choosing a central location for the project, which can be easily accessed.
- The project is located adjacent to the city's main roads, or beside a freeway, such as the Metro, Metrobus, or Tramway.
- Availability of sanitary conditions in the project building, including ventilation, natural lighting, heating, and other requirements of sanitary standards.
- Choosing a building, with a large area not covered by columns, to carry out all activities related to the project with full comfort, preferably free of finishings, so that the investor can choose his or her own decorations as he or she wishes.
- The presence of the project near shopping malls, the location of hotels, which encourages business activity, and the high demand for these projects.
- Selecting an elegant area dedicated to commercial offices in which to establish the project.
If the project is a commercial shop, the following conditions must be met:
- Choosing a location directly on the main street.
- Proximity to residential properties and large projects.
- Easy access to the shop.
- The shop is next to government institutions.
- Evaluate the area's need for a good shop.
When conducting a hotel project, it must be ensured that the necessary licenses are available for the hotel, the land on which the construction takes place and that a study is carried out that meets all the requirements, taking into account the guidance of the real estate consultants.
Edited by Imtilak Real Estate©
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