In the past years, the real estate market in Turkey has witnessed an increasing demand of foreign investors, and perhaps the biggest reason for this demand is the successes and successful experiences of businessmen who enter the real estate market in Turkey to invest. It has many advantages that will increase the chances of financial profit and success in the real estate sector in Turkey.
Real estate market in Turkey 2022:
The real estate market in Turkey is considered one of the strong and emerging global markets, as it is considered one of the strongest real estate markets in the world. The multiplicity and diversity of real estate in Turkey is one of the most important features for those wishing to buy real estate and invest in the real estate field in Turkey, as the real estate market in Turkey covers all the objectives of investment projects, whether they are tourism, residential, commercial or industrial.
The investor is always looking to get the best prices before starting a private investment project, as the real estate market in Turkey provides the best and most suitable prices for most investors wishing to buy real estate in Turkey. The investor can find a property, apartment or house at a price that is cheaper compared to nearby European countries. These prices have encouraged investors to enter the real estate market in Turkey to buy real estate, which was reflected positively on the movement of the market in general, which is described as one of the most successful real estate markets in the world because of the factors it has that can enhance the chances of success.
Success factors in the real estate market in Turkey:
1- Multiple real estate investment options:
What distinguishes the real estate market in Turkey is the diversity of investmentable real estate options that meet the different needs of investors. investor chooses his goal in the market based on his/her desire and strategy. He/she can choose the following:
Its goal is to find a home and a place to live in the Turkish lands, and here it should be noted that the investor must choose the city, location, view and service structure of his apartment very carefully.
• Office apartments:
The objective of it is commercial, as the investor wants to buy this type and rent it and thus make a financial profit that is considered a fixed income, and what distinguishes this type is the long-term lease and the reason is that the tenant takes the apartment as a place of work, so he/she is interested in that the lease period be long because his/her clients are accustomed to him/her in this the place.
• Studio apartments:
The purpose of it is also commercial, where the investor searches for apartments with small spaces which location is close to government centers and universities in order to sell or rent them, either to students or workers who go to city centers, and this type is widespread in Turkey, especially Istanbul.
• Apartments of complexes:
The investor can go to the residential complexes and search for an apartment that meets his aspirations, and this is widespread in the real estate market in Turkey as a result of the spread of many residential complexes in the suburbs of Turkish cities, especially the residential complexes in Istanbul and Ankara.
This investment is also considered commercial, as the real estate investor buys the shop and rents it.
This is the suitable option for businessmen who go to major Turkish cities to reside and search for a life of luxury. They buy villas that are near their workplaces or villas that are far from the hustle and bustle of the city as a place for them to relax, calm and enjoy nature.
• Smart homes:
Investors wishing to buy homes equipped with the latest international technologies and designed with urban designs that reflect the tremendous development that the world is witnessing today, as it has recently been published in the real estate market in Turkey, especially in Istanbul, is this type of real estate, which has become the demand of many investors.
2- Prices and their rise index:
What the real estate market in Turkey is witnessing today in terms of buying and selling movements, rising indexes and expectations that indicate the continuation of the rising index in the coming years prompted more investors to go to Turkey to buy real estate, and thus the demand for the real estate market in Turkey will increase, which means that prices will continue to rise and therefore the chance of success of investor in the real estate market in Turkey will increase..
3- Strong Turkish economy:
What the Turkish economy has proven in its ability to face internal and external challenges, especially the global economic crisis and the state of economic inflation and the biggest example of the economic crisis that the Turkish economy has been affected by is when Corona virus outbreak in the past years, but Turkish economy was able to recover from this crisis and thus gave strength to the real estate market in Turkey on the one hand and confidence to investors wishing to buy real estate on the other hand.
4- The huge turnout of investors:
The real estate market in Turkey in recent years has witnessed an increase in the number of investors wishing to buy real estate, which has positively affected the real estate market in Turkey as a result of the increase in demand, and therefore this will positively affect real estate prices and the rise index that will increase the confidence of investors in achieving success.
5- Government policies:
The policies taken by the Turkish government to support the real estate market and real estate investment movements are among the most important reasons for the success of the real estate market, as it works in various ways to facilitate buying and selling transactions for foreign investors, and this would increase demand; which means higher prices.
6- The advantages of investing in Turkey for a foreigner.
The advantages enjoyed by the real estate investor in Turkey are many, including:
• Tax exemptions for foreign investors
Here we mean exemption from the added tax imposed by the Turkish government, which saves the investor a large amount of money that attracted foreign investors, which affected the real estate market in Turkey and the buying and selling movements in it.
• Getting real estate residency
And here we mean the residency granted by the Turkish government to the real estate investor wishing to reside in the Turkish lands when purchasing a property worth no less than 75,000 US dollars.
• Getting Turkish citizenship and Turkish passport
This feature is considered the best advantage that foreign investors seek. The investor can obtain Turkish citizenship under specific condition; the property must worth a value of at least 400,000 US dollars. When buying a property in Turkey with this value, the investor will be able to get Turkish citizenship after three months at most after he/she submits the required papers to get it. After having it, he/she can get the Turkish passport, which is considered one of the most powerful passports in the world.