6 Unique Attractive Factors for Real Estate Investment in Turkey
6 main factors unique for real estate investment in Turkey, some of which are impossible to be found in any other country in the world, is that reasonable?! Yes… read our article to learn about these factors.
Turkey has proven to the world in the past few years that it is among the countries that attract real estate investment, and this was evident through the numbers and statistics that indicated the huge demand from investors to buy real estate in it.
We at Greater Turkey have prepared an article for you in which we summarized 6 factors that are among the most influential in raising the value of real estate investment in Turkey, the first of which is the location and position of the Turkish state, and we conclude with affordable real estate prices in Turkey.
6 factors unique for real estate investment in Turkey, do you know what are they?
First: Turkey’s “exceptional” geographical location
Turkey enjoys an unparalleled geographical location, linking the two continents of Europe and Asia, specifically in Istanbul, which is an international bridge linking the two continents through modern and advanced land routes.
As for the airspace, Istanbul Airport, the largest in the world, is a major transit station for most flights to Asia from Europe and vice versa. Many achievements, numbers, and awards have been granted to the airport since its inception in 2018 until our days.
In the maritime field, Turkey possesses the most important straits in the world, namely the magnificent Bosphorus Strait in Istanbul, and the Dardanelles Strait in the city of Çanakkale, which connect the Sea of Marmara on one side and the Black Sea on the other.
Real estate investment in a country with a unique geographic location, and then choosing the most appropriate city to own the property, certainly leads to a profitable investment of high value periodically.
Second: Turkey’s economic power and position
The Turkish economy achieved record growth between 2003 and 2020, rising from the 18th place among the largest countries with the most powerful economy in the world in 2003 to 11th in the year 2020, and with the entry of 2022 it became 19th globally.
On the other hand, the increasing volume of Turkish exports also proved to the world that Turkey is one of the important countries exporting to global markets, as Turkish exports recorded an increase of 32.8 percent in 2021 compared to the previous year 2020, and amounted to 225 billion and 291 million US dollars, according to the Turkish Statistical Authority TÜİK.
In the real estate sector as well, the General land registry Directorate announced a huge increase in foreign sales of Turkish real estate and explained that the year 2021 witnessed the sale of 68,600 properties, with an estimated value of 40 billion Turkish liras.
Istanbul and Ankara were at the forefront of the best-selling cities for real estate in Turkey, according to Anadolu Agency.
Third: The environment and the common cultural mix with the Arabs
Turks meet with a common cultural heritage with most of the peoples of the region in the Middle East, and the Turkish environment is open and receptive to expatriates and foreign investors. There are many common points between Turkish society and its neighbors, the most important of which are:
- The 800-year common history through the Ottoman rule.
- The Islamic Religion.
- Linguistic exchange and displacement. The Turkish language contains more than 27,000 Arabic words, in addition to words with Persian, French, English, Kurdish and other roots.
- Customs, traditions, and even folk proverbs are similar.
- International and Arab schools in Turkey.
In addition, the most important characteristic of contemporary Turkish culture is its openness to diverse world cultures and keeping pace with developments.
Real estate investing in Turkey and living in it are two birds with one stone! There is no doubt that living in Turkey is beautiful and comfortable, so what if it is accompanied by a safe and always profitable investment!
Fourth: The incentives provided by the Turkish government
The Turkish government always encourages investment and trade in it, by launching several packages that facilitate the way for foreign investors in the country.
The most prominent of them was the investment citizenship decision issued in 2018, which attracted a huge number of citizens of the countries of the region – especially the unstable ones due to the economic and political conditions in them – to obtain Turkish citizenship.
The most important way to invest in this decision is to acquire Turkish citizenship through the following methods:
- Buying a property or several properties worth 250 thousand dollars and seizing them for a period of 3 years. A decision was recently issued to raise the value of this amount to 400 thousand dollars, and it is expected to be published in the Official Gazette to start working with it.
- Depositing an amount of 500 thousand dollars in a Turkish bank and seizing it for a period of 3 years.
- Establishing a company and employing at least 50 Turkish workers in it.
Buy a property, obtain Turkish citizenship, and get investment returns by renting and reselling the property, isn’t this a successful investment! The material value is constantly increasing, and on a personal level, get a passport that allows me to enter 120 countries without a visa!!
Fifth: Turkish construction companies and mega projects
Turkish construction companies have become famous in many countries of the world, to the extent that many of them have established many huge projects outside the borders of Turkey.
These companies are characterized by speed and accuracy in construction, with distinctive touches and finishings, and most important of all is government supervision. Some of them are owned by the Turkish government or major municipalities or are involved in strategic partnerships with government agencies.
There are also construction companies specialized in establishing mega projects such as airports, hospitals, and tunnels, and we know that the government during the past few years has established many projects that the world has talked about, such as:
- Istanbul Airport is the largest in the world.
- Cam and Sakura Hospital, the largest medical city in Europe.
- Avrusia Tunnel extending under the Bosphorus strait across the sea.
- The Botanical Garden is one of the largest nature reserves in Europe.
- Sultan Yavuz Selim Bridge over the Bosphorus.
- The recently completed Çanakkale Bridge.
- The newly inaugurated Istanbul Water Canal.
Sixth: Cheap real estate prices in Turkey
Real estate prices in Turkey are very cheap compared to European markets, at a rate of no less than 25%, not to mention the quality difference, which if found in other than Istanbul, the prices will be several times higher.
Owning a property in Turkey with the most beautiful sea views, high-end services in complexes, and proximity to city centers, is a profitable real estate investment, especially since the value is constantly rising.
In nutshell…
We hope that our article on real estate investment in Turkey 2022 has explained to you the most important factors that attract the Turkish real estate sector.
If you are an investment pioneer, did you find these factors convincing and motivating? The largest percentage of investors who own property in Turkey have recognized that it is a fertile, suitable, and profitable environment in the long term.
Greater Turkey Company is proud to offer you its consultancy services in the field of investment and real estate purchase in Turkey, with long experiences that achieve a safe and successful investment for you, we put it carefully in your hands, so that we all win! Contact us today.
Edited by: Greater Turkey©
Sources: invest.gov
