About 20 years ago and until the present moment, the real estate market in Turkey witnessed a wide and comprehensive renaissance that attracted the attention of investors, businessmen and money owners from all over the world, as they found it a safe haven for real estate investment, especially in light of the instability of the situation in the Middle East.
If you are interested in following the real estate market in Turkey, in this article, the editorial team at Evek Real Estate will provide you with the most important and prominent information that interests you about it.
Are you someone who prefers to own real estate? Do you believe it is one of the best investments you can make? Through the following paragraph, you can see the importance of being a real estate investor in Turkey.
Turkey has an economy that is competitive with the world's most important economies, and according to studies on this matter, it is in second place directly after China in terms of rapid growth.
Also, according to expectations, by 2030, it will be among the first five important economies in the world.
The importance of Turkey's geographical location cannot be overlooked in influencing the investor's decision to be a destination for investment, as it is easy to move and travel to and from it, as it is in the middle of three continents (Asia, Europe and Africa). Add to your information that it has a large area and a high population density, as it has exceeded 84 million people .
Also, its climate is characterized by being temperate throughout the year, in contrast to the European countries, which are known for their cold climate, or the Arab Gulf countries, which are known for their hot climate.
Turkey ranks fourth in the world in terms of tourism importance, according to many factors and ingredients, including:
- The beauty of its charming nature and wide green spaces, parks, gardens and forests.
- It embraces many historical and archaeological monuments, each of which goes to a particular civilization and culture.
- Tourism in Turkey is not limited to ancient places only, but also goes beyond these borders by owning modern destinations such as museums, malls, shopping centers and game cities.
What can be pointed out here is that whenever you know about a country that it is a tourist, you should immediately know its investment position, and the reason for this is the need of tourists and foreigners coming to it for places to reside during their stay, and therefore one of the most successful forms of real estate investment is hotel apartments - hotels - restaurants - cafes - residential apartments suitable for the residence of the tourist - shops and others.
Based on everything that is characterized by the real estate market in Turkey, it has attracted many foreign and Arab investors, and the percentage of Arab presence in it is not small, and they occupied the first ranks among the most investors buying real estate for many reasons, including:
- Geographical location close to the Arab world.
- Low cost of living in Turkey compared to other countries.
- They can buy the best and the best quality real estate at the cheapest prices.
- They can obtain real estate residency.
- There are many common customs and traditions.
- Easy integration with Turkish society and learning the Turkish language.
- The development and recovery that Turkey is witnessing in its various sectors and fields at a time when their country is witnessing successive collapses.
When investing in real estate in Turkey, you will get a lot of privileges, which is what has made it so important today.
One of the most important motives that encouraged the foreigner to invest his money in Turkey and not in other countries of the world is that it is possible to obtain Turkish citizenship in exchange for buying a property worth two hundred and fifty thousand US dollars or more, and this nationality has been classified as one of the most prominent nationalities in the world (One of its most important advantages is that whoever carries it becomes like any Turkish citizen who gets all his rights without discrimination). It should be noted here that the Turkish government provided many facilities, most notably the amendment issued in late 2018, which stipulated reducing the value of the property suitable for granting citizenship from one million US dollars to two hundred and fifty thousand dollars only)
Which encourages investors to buy real estate in Turkey that its future is guaranteed and its prices are constantly increasing and during the current year it is expected to grow by more than fifty percent for many reasons:
- The large population (the population's need for a shelter to live in cannot be interrupted).
- Sophistication and the great luxury that characterizes it (constructed according to international quality standards).
- The great real estate diversity that suits all tastes and budgets (Turkey's real estate is not limited to high budgets as in Europe).
- The increase in the prices of building materials (it will affect the value of real estate because those materials are imported).
- The demand for buying real estate has increased dramatically and the foreign and Arab demand for it has increased.
In this regard, we must point out that Istanbul is the best-selling real estate city in Turkey and has maintained its leading position for a long time due to its countless privileges, most notably that it is the economic capital and the most densely populated city, and its acquisition of the interest of construction companies to build their luxury real estate projects in it.
It also hosts the most important strategic projects, while Ankara comes in second place, and later Antalya and Izmir come.
After all the information we provided you with about the real estate market in Turkey, do you think it is an ideal environment for real estate investment? If you are looking for profitable opportunities, you can contact us to provide you with what suits their ambitions.