Why do Foreigners Tend to Invest in Turkey's Real Estate?
Have you wondered about the reasons that made Turkey an important destination for many foreigners around the world? Why is it not in other countries? Turkey has been considered a safe and stable environment for the establishment of all types of investment without exception, especially real estate investment.
In this article, we will raise an important topic, which is the reasons that may push you to invest in real estate in Turkey. If this is something that interests you, you can follow us.
Reasons behind investing in real estate in Turkey:
Real estate in Turkey has many advantages that have made it the focus of attention for everyone who wants to enter the world of real estate investment and achieve abundant profits and high returns. Here we will review together the most important information on this matter:
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1 - Advanced Infrastructure:
The infrastructure in Turkey is characterized by its development and modernity, through which it has been able to compete with the most important European countries. The Turkish government is working to establish important strategic projects that have a positive impact on all sectors and fields in Turkey, especially the real estate field, the most important of which are:
- It has the largest air transport station in the world (Istanbul New Airport).
- The Project of the century (New Istanbul Canal) is under construction.
- Highways that dealt with the problem of congestion and population density.
- Expansion of public transportation networks.
- Tunnels + bridges.
- Huge hospitals competing for medical centers in Europe and the world (Basaksehir Medical City).
2 - Flexibility of Turkish laws:
Due to the Turkish government's interest in attracting foreign capital and investors, it has worked to constantly amend laws and make them commensurate with the interests of foreigners, and what it provided:
- Reducing property taxes.
- Granting Real estate residency permit.
- Granting Turkish citizenship in return for the value of the property not being less than 400 thousand US dollars.
- Providing them with guarantees that make them feel comfortable and reassured, such as the real estate appraisal document.
- The reciprocity law was abolished in 2012, and all foreigners could buy real estate except for five nationalities.
3 - The booming Turkish economy:
The Turkish economy is among the first 20 economies in the world and has been able to outperform many important countries. Add to your information that the fluctuation of the Turkish lira exchange rate against the US dollar was an opportunity for investors.
The Turkish economy is expected to be in the first place in the world in 2030, according to a recent European study, and the reason for this is the composition of the young population, in contrast to European countries that suffer from a large population pyramid.
4 - Low property purchase costs:
Real estate prices in Turkey are somewhat low, unlike prices in Europe or some Arab countries, and the cost of living in Turkey is also reasonable and moderate.
Did you know that you can buy a property with high-end and modern specifications at a competitive and distinguished price, and this is what you cannot achieve in other countries, and do not forget that international standards are followed, and it is also earthquake-resistant, heat- and sound-proof.
In this context, it is necessary to mention some other privileges, which are also important and a factor that helps the investor to make the decision to invest in real estate in Turkey:
- Turkey witnesses a high population density of more than 83 million people.
- Turkey annually hosts millions of tourists from different countries of the world, as it includes many important historical, archaeological and natural destinations.
- The urban transformation projects that invade Turkish cities, aim to remove everything that is old and dilapidated and replace it with other modern and integrated real estate projects.
- According to many investors and according to the experiences they made earlier in Turkey, you will get distinctive and high investment returns.
- Turkey is characterized by a wonderful geographical location in the middle of the world and also overlooks the most important seas and water bodies, in addition to its extension on two continents at the same time.
- The Turkish government supervises the real estate projects that are being built so as not to leave any room for tampering with specifications or quality.
How to make profits from real estate investment in Turkey?
In order to achieve high profits from your real estate investment in Turkey, you must choose the property very carefully, as the right choice is the first stage of success and distinction.
In recent times, the idea of buying real estate has spread remotely through websites, but you should not be satisfied with viewing it only, as it is necessary that you visit it on the ground to check its specifications and if it is suitable for you or not.
You should use a real estate agent or real estate company to obtain a comprehensive study about the property, the region, and its investment future.
The apartments of the residential complexes are considered ideal options because they provide the residents with an integrated and elegant lifestyle, and high profits can be obtained by renting them or when reselling them again because the demand for them is great.
Also, one piece of advice that is given in this field is that it is necessary to buy a new building and make sure that there are vital projects, service facilities and public transportation near it, as this increases its investment value.
The future of real estate investment in Turkey:
Given all the data about real estate in Turkey, the future of real estate investment is guaranteed, especially with expectations that prices will rise during the current year by forty percent, and the reason for this is:
- Increasing demand for the purchase of these properties.
- Rising prices of raw building materials.
- The high quality of these properties.
- The establishment of many important projects that will have a significant impact on the economy and the real estate sector.
The real estate market in Turkey is a diverse field that includes many options that suit all tastes and budgets. Contact us in order to provide you with the most important offers available to help you achieve your goals and objectives.
We are ready to answer all your inquiries, so do not hesitate to contact us via WhatsApp
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