In the recent years, Turkey has become one of the best countries in the eyes of investors from all over the world. Turkey has proved to have one of the strongest economies in the world and is considered to be a safe place for investment. Turkey has a perfect strategic location and a modern infrastructure, high capital growth is expected, the cost of living is low.
Real estate investment in Turkey
One of the main sectors for investment in Turkey is a real estate market. Turkey is currently noticing a large development in real estate sector, making the real estate investment in Turkey extremely successful. Real estate sector allows foreign investments in Turkey in apartments, villas, land, commercial units and other similar options.
Properties in Turkey are in high demand among foreign investors from all over the world due to its great rental income and capital growth potential. Turkey is one of the top holiday destinations and it offers great opportunities for investing in real estate. The prices of properties in Turkey rise every year, depending on the location. High rental income is guaranteed especially in the regions with developed tourist industry. The standard of living is rising, which increases the demand for better housing options.
Is buying property in Turkey a good investment?
With economic growth and constatly rising prices of real estate, we may say that one of the best investment in Turkey is real estate. There are many reasons why it is so popular to invest in property in Turkey.
Tourist destination and a high demand for properties in Turkey
Turkey is touristic country with millions of visitors coming every year. Turkey is famous for its unique and divergent nature. The beaches of Mediterranean and Aegean Sea attracts tourists from all over the world, while the Black Sea region offers beautiful green surroundings, devoted mainly to agriculture and not been visited by tourists that much in comparison to other regions.
Tourist industry grows every year and creates even higher demand for quality accommodation. Many of foreigners like to often visit this beautiful country, that is why they decide to buy an apartment or villa in Turkey. Investment in properties in Turkey is advantageous due to their high liquidity. Apartments in residential complexes, offering a wide range of facilities, located in the areas with well-developed infrastructure, are in high rental demand all year round. Excellent return of capital by rental income is among the causes for the growth of investment in property in Turkey.
With all the reasons above, the demand for real estate in Turkey is high, not only by foreigners. Turkey has a population of over 80 million which creates strong internal real estate market as well. Real estate sector is not solely depending on the foreign investments in Turkey.
Turkey has a strict regulations for constructions of high buildings, especially on the coast of Mediterranean Sea. The land plots available in those regions are limited, the demand for properties at the coast is very high and therefore the cost of real estate is constantly rising.
Moreover, it is very profitable to invest in the real estate under construction. The developers of off-plan properties need to lower the risk by selling the properties at excellent price. The buyers can not phyisically see the property and must rely on a plan. Off-plan properties can be purchased for significantly lower price and resale after the completion of the project can bring a valuable profit. Keeping the property for longer period might allow excellent rental income opportunities.
Istanbul, as the biggest city in Turkey, provides the most expensive housing options. With a constantly growing new constructions and developments, the best districts in the past have been replaced with a new areas that provide the best investment in Istanbul. Developed infrastructure, transportation and urban transformation are among many reasons why Istanbul attracts investors and provides high investment profit.
Another advantage of foreign investment in Turkey
One of the other advantages of purchasing a real estate is Turkish citizenship. Turkish government provided for foreign investors a possibility to get Turkish citizenship if they buy a real estate worth at least $400,000. It means that every foreigner who invests in property this amount has been granted Turkish citizenship and all the advantages that comes with it.
Except of construction and real estate market, there are other sectors that are profitable and among the best investment possibilities in Turkey: IT and technology, textile, energy and natural sources, environment and recycling.