Significant steps are being taken in the construction sector, which is the building block of the economy and affects about 250 sectors along with the sub-sectors. The government has come up with the purpose of arranging for residents. The right to acquire housing without VAT given to Turkish citizens living abroad increased their sales.
Our expatriates, who came to Turkey, showed great interest in the opportunity for foreigners to get housing without paying VAT on 1 April 2017. The expats bought cheaper housing and workplace.
While residential and business sales made in April-August 2016 were 2 thousand 585 units, this number increased by 37.29 percent in the same period of this year and reached 3 thousand 549 people. Expatriate housing purchase without KDV 300 thousand pounds of housing purchases calculated with 18 percent KDV creates an opportunity of 54 thousand pounds citizens.
The government says that this summer, the movement in the construction sector also provides a source of funding for the current deficit.
Nazmi Karyağdı, Head of Strategic Development Department of the former Income Administration, stated that there is foreign exchange access to my country for the financing of the current account via VAT sales. The price of the purchased residence must be paid in foreign currency from abroad.
The expatriate located abroad can transfer the expatriate to a bank in Turkey. If the expatriate foreign currency is brought physically, it is also required that the entry be proved by a document to be obtained from the Customs Administration. The condition that the purchased real estate is not removed from the office for at least one year is also required in practice.