Is buying a Turkish apartment a good investment?
Last Updated: 2023-09-18
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Is Purchasing an Apartment in Turkey a Big Investment Opportunity?
Turkey's real estate market has recently become the best in the world to start a safe and profitable real estate investment. This importance is not something new, but has begun since 2012 with the birth of the many facilities provided by the Turkish government, which aimed to attract foreign capital to it.
Are you wondering about the reasons that made real estate investment in Turkey an important opportunity? If you choose to enter into this field, you have chosen the safest field to preserve your capital, as it has been able to outperform all other types of investments. Add to your information that it carries little risk and you can get the highest returns through it.
The editorial team at Mersat Real Estate has prepared an article for you about the most important reasons that made real estate investment a unique opportunity.
The Importance of Real Estate Investment in Turkey
If the field of real estate investment in Turkey is among your interests, or you want to enter this field, you should constantly keep up with everything new that occurs in the real estate sector and learn about its most prominent advantages.
Real Estate Prices in Turkey:
Recently, real estate value has recorded a significant increase, and is still continuing to rise rapidly. It is expected to rise during the current year by between 40% and 50% for many reasons, including:
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The exchange rate of the Turkish lira changed against the US dollar.
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High prices of raw building materials.
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The demand for it has increased dramatically because of the high population density and the large influx of foreign.
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Generally, Turkey witnesses crowded tourist seasons, where tourists come from different countries of the world to spend enjoyable times and to take a trip and see its most prominent landmarks and monuments, therefore they need places to stay during their residence.
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Real estate prices in Istanbul have increased by more than 105% in the past year.
Infrastructure Projects:
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Turkey has the most important strategic mega projects that you may find in the world, and work is underway to establish and organize the most important projects that will be completed during the coming period.
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By 2023, the construction work of the new Istanbul Airport will be completed. This airport is considered one of the largest air transport, not only in Turkey, but in the world. It has won many awards and is still under construction due to its great importance in linking the East and the West.
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One of the most important projects accomplished by the Turkish government is the Eurasia Tunnel, which is a main supporter of the transportation network, linking the two sides of Istanbul with each other.
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Talking about the Project of the Century (Istanbul Canal) cannot be dismissed, which was launched last year. Its importance lies in the fact that it will reduce the burden on the Bosphorus Strait, which will positively affect the Turkish economy in general and the real estate sector in particular. Hence, the nearby areas will be affected and real estate will register a significant rise in prices.
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Başakşehir Medical City, which is ranked as the largest medical center in Europe, and the third in the world.
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Particularly, Turkey is interested in expanding public transportation networks and highways due to the high population density it is witnessing, and foreigners are coming to it from everywhere in the world for many purposes and goals such as study, tourism, treatment and accommodation.
Strategic Geographical Location:
One of the most important reasons that encourage investors around the world to buy real estate in Turkey and real estate investment is its unique location, since it links Asia, Europe and the Middle East together. Do not forget that the city of Istanbul spans two continents; Asia and Europe at the same time, the characteristics of both continents.
Turkey overlooks four important seas: the Mediterranean Sea - the Aegean Sea - the Sea of Marmara - the Black Sea.
The Flexibility of Turkish Laws:
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The Turkish government is constantly working to provide facilities to investors that intersect with their interests, thus Turkey has become one of the most suitable countries in the world for all types of investment, especially real estate investment.
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The law allows the property owner to obtain Turkish citizenship, if the value of the property is Four hundred thousand dollars or more. However, before 2018, the price should be a minimum of one million US dollars as a condition.
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The Turkish government has lowered the property taxes.
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Tax exemption in some cases is partial and sometimes is full.
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A real estate owner in Turkey has the right to apply for a real estate residence permit, which is one of the most important types of permits at all.
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In 2012, the Turkish government issued a decision to abolish the reciprocity law, according to which any foreigner could own real estate in Turkey except for five nationalities due to political conditions and old agreements.
Great Diversity in Real Estate in Turkey:
One of the things that encouraged the investor to choose Turkey to search for real estate for sale is the great diversity that meets all tastes, desires and budgets. Under the name of residential and commercial real estate there are many secondary options, you can learn about all of them before making your choice.
It should be noted here that, generally, there is a greater demand for residential apartments than for commercial properties, this is due to their lower price compared to others, as well as the uninterrupted need of people to get a place to live and stay. It is worth noting that the demand for them increases significantly in the tourist seasons.
One of the most important types of apartments in Turkey is (the residential complexes), which is the most sought after in Turkey because of the advantages that can be obtained, it guarantees you a different and unique lifestyle.
In this article, we were keen to provide you with all the details and information that confirm the importance of real estate investment in Turkey. If you want to have a unique opportunity, you only need to contact us, so that we can provide you with what suits you and matches your goals and desires.
Edited by Mersat Real Estate Team ©
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