Real Estate Investment in Turkey: Profits and Benefits Await Investors
Real estate investment is a type of investment that involves buying, managing, leasing, or selling properties for profit, real estate can include residential houses, commercial buildings, and lands.
Success in real estate investment requires a broad understanding of the local market, laws, and regulations.
Real estate investment in Turkey is highly profitable, as it has many features that make it one of the best countries for buying real estate. So What are these features? and What are the reasons behind investors turning to real estate ownership in Turkey?
Turkey’s Advantage
Strong Economy
Turkey ranks 19th among the world’s largest economies, according to the new classification prepared by the Indian University “Purnea” based on the latest data from the International Monetary Fund in the “Global Economic Outlook” report, where Turkey’s gross domestic product (GDP) is $815.27 billion, with a growth rate of 11%.
Speaking of economic growth, Turkish Minister of Trade Ömer Bulat announced that his country has become the fastest-growing economy among the G20 countries and the Organization for Economic Cooperation and Development (OECD) in the third quarter of 2023.
This reflects the strength of the Turkish economy, consisting of sectors and key elements such as industry, trade, agriculture, tourism, construction, and more.
Of course, we shouldn’t forget to mention the significant role played by the growth of Turkish exports in improving the economy, president “Recep Tayyip Erdoğan” stated in a press conference that Turkey exported goods worth $255.81 billion in the year 2023 alone, with an annual increase of 0.6%.
Visit: The Future of Investment in The Lands of Canal Istanbul
Thriving Tourism
Tourists find everything they are looking for in Turkey, where enchanting natural beauty is coupled with historical and cultural sites, alongside with delicious cuisine, and a pleasant climate, and the combination of these factors makes it a preferred destination for tourists.
In the first eight months of the year 2023, Turkey welcomed around 37 million tourists from various nationalities, generating tourism revenues of $20.23 billion.
Istanbul tops the list of the most visited cities, as it not only connects the continents of Europe and Asia but also has numerous historical and coastal areas, as well as historic mosques, making it an attractive destination for both foreign and Arab tourists alike.
Geographic Location
Turkey is located between the continents of Asia and Europe, with 3% of its land located in the European continent and the remaining part in the Asian continent, this unique location has granted Turkey a strategically important position among world countries, positively impacting its economy, tourism, and real estate sector, where investors prefer to live in Turkey due to its geographical proximity to the three continents of the world, its breathtaking views of seas and forests, not to mention its lower prices when compared to European countries.
Huge Projects
Turkey has witnessed a series of important developmental projects aimed at advancing the country and improving its economy, and since there isn’t enough space here to mention all of these achievements, we will only be highlighting some of them:
Istanbul New Airport
Istanbul New Airport, one of the largest airports in the world, is located in the European part of Istanbul near the Black Sea, it was launched in late 2018 by the Turkish President Recep Tayyip Erdoğan.
The airport covers an area of 76 million square meters, and upon the completion of the remaining phases by 2028, it will include six runways capable of handling 500 daily flights with an annual capacity ranging from 150 to 250 million passengers, making it one of the busiest airports globally.
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Yavuz Sultan Selim Bridge
The Bridge is considered the fifth longest bridge in the world. This project, also known as the Third Bridge over the Istanbul Strait, was launched in May 2013 and opened to traffic in August 2016.
The construction cost of the bridge amounted to 3 billion dollars, and it was built with the aim of providing traffic relief, especially for freight transport, and serving as an alternative to the congested highways within Istanbul.
Eurasia Tunnel in Istanbul
The Eurasia Tunnel was constructed at the bottom of the sea in the Istanbul Strait, which is the latest project in Turkey’s plan to reduce traffic congestion in Istanbul.
The tunnel was launched in 2016 at a cost of 1.3 billion dollars. One of its significant features is reducing travel time between the European and Asian sides of Istanbul from 100 minutes to just 15 minutes.
Read Also: Stages of Turkish Citizenship
Sakura Medical City
The Medical City in Başakşehir is considered the largest hospital in Europe, with the Intensive Care Unit alone having a capacity of 456 beds.
This massive project was established through collaboration between Turkey and Japan, and the hospital consists of six interconnected buildings with a total of 3,804 beds, 735 clinics, and 128 operating rooms.
Types of Real Estate Investment in Turkey
Investment in Residential Real Estate
It is one of the most widespread types of investment, as Turkey witnesses significant interest in residential apartments, especially in Istanbul, and there are various ways to invest in residential real estate, such as buying a ready residential real estate then leasing it, buying an apartment to renovate and resale, or long-term investment by buying a residential real estate in a promising area and selling it after several years at a higher price.
Investing in Commercial Real Estate
This type of investment thrives in major cities with commercial activities, where the demand for commercial offices, factories, and buildings rises, where by choosing the right property and location, you can achieve high profits.
Investing in land
It is one of the best types of real estate investment, characterized by safety and stability. Turkey’s distinctive geographic location makes land investment exceptionally profitable, where land prices, especially those surrounding the New Canal Istanbul, witness a significant annual increase. You can benefit from land investment by building a villa, commercial project, or agricultural project. However, land investments are somewhat long-term, allowing you to buy land and wait until prices peak before selling it again.
Reasons for investors’ interest in real estate ownership in Turkey
- High Profit Returns
- Strength of the Turkish Economy
- Laws and Regulations that facilitate the investment process in Turkey
- Opportunity to obtain Turkish citizenship
- Real estate investment in Turkey is considered one of the safest globally
- Opportunity to obtain real estate residency
- Availability of investment projects suitable for all budgets
- Distinctive strategic location
- Lower property tax compared to other countries
The Future of Real Estate Investment in Turkey
Related topics
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_ New Istanbul Airport
_ Lands for sale
_ Real estate investment in
_ Residential land for sale in Istanbul
_ Commercial land for sale in Istanbul
_ Agricultural land for sale in Istanbul
Turkey has witnessed a significant slowdown in real estate sales in recent months due to the increase in interest rates to 40%. However, this slowdown did not affect the sale of lands, which are experiencing a noticeable revival as a result of the urban expansion undertaken by the Turkish government every ten years.
The expansion this time targeted the Arnavutköy area, which is the location for the new city “Yenişehir” on the outskirts of Canal Istanbul. The lands of “Yenişehir” present a golden opportunity for investors to benefit from urban expansion and massive residential projects taking place on its grounds, especially given the rising property prices in Istanbul, while land prices around Canal Istanbul remain acceptable so far.
Experts at Sedad Real Estate Group anticipate significant jumps in land prices surrounding Canal Istanbul upon the completion of the canal excavation and the finalization of construction works in the new city “Yenişehir”.
What are you waiting for?! Hurry up and seize the opportunity by contacting our specialized team that will guide you to the best option in the real estate world.
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