Reasons that make Turkey an ideal destination for real estate investment

The real estate investment sector in Turkey has witnessed significant growth in recent years, becoming a preferred choice for many investors seeking lucrative returns and abundant profits. This success can be attributed to a range of factors and advantages that Turkey possesses. Turkey aims to attract foreign investors of various nationalities and encourages them to invest in its lands. The Turkish state stands out with many features and characteristics that distinguish it from competing countries in terms of attracting investors for investment, which we will discuss in this article. These factors serve as incentives for investors to choose Turkey for real estate investment.

Key Success Factors of Real Estate Investment in Turkey :

• Turkey's Strong Economy : The Turkish economy has witnessed significant growth in recent years, achieving a growth rate of 6.5% in 2020 despite the COVID-19 pandemic. Turkey ranked 11th globally by the end of 2023, with experts predicting it to reach 10th place by the end of 2024. This strong economic growth enhances the attractiveness of real estate investment in Turkey compared to other countries.
• Strategic Location : Turkey enjoys a distinctive strategic location between the continents of Asia and Europe, making it a vital trade hub. This location facilitates access to both European and Asian markets, increasing the value of real estate in Turkey. Additionally, Turkey serves as a crucial land bridge for travelers and caravans heading to Europe from Africa after passing through Arab countries in the Levant. Moreover, Turkey boasts a strategic position overlooking three important seas: the Black Sea, the Mediterranean Sea, and the Sea of Marmara. This makes Turkey an indispensable tourist and investment destination. The Turkish state also controls one of the world's most significant waterways, the Bosphorus Strait, and is constructing a new water passage, the Istanbul Canal, which rivals the importance of the Bosphorus Strait. These advantages make real estate investment in Turkey an ideal choice for investors seeking lucrative returns and promising future growth opportunities.
• Urban Development : Turkey is witnessing a massive urban development, with modern and robust infrastructure projects and smart cities in various regions of Turkey. These are among the key factors attracting real estate investment and contributing to the comfort and ease of residents' lives. The provision of modern and diverse transportation means, public and private hospitals, and educational institutions available throughout the country reflect the development and significant interest in improving the quality of life. This development increases the attractiveness of real estate in Turkey and makes it more desirable for investors.
• Political Stability : Turkey is considered one of the countries that has witnessed political stability in recent years, which has enhanced Turkey's international relations with most countries worldwide. This political stability has enabled the investment sector in Turkey to overcome political obstacles and external barriers that previously hindered the success of real estate investment in the country. Additionally, this political stability provides a safe and stable environment for investors and residents alike. Turkey is an attractive destination for foreign investors seeking a gateway for real estate investment in the Middle East and Europe. With the security and safety provided by Turkey, investors can feel confident and stable while investing in the country. Thanks to the stable economic environment and flexible investment laws, investors can achieve good returns from real estate investments in Turkey. In summary, political and economic stability in Turkey is a significant factor attracting investors and contributing to the success of real estate investment in the country. With good relations with other countries and a suitable economic environment, Turkey is an ideal destination for investment and living.
• Government Incentives : The Turkish government is striving to attract more foreign investors to the country by issuing several laws aimed at facilitating various types of investments on Turkish soil. Among the most prominent of these laws is the reduction of taxes imposed on foreign investors, as taxes in Turkey are the lowest compared to neighboring countries. The government also grants the right to Turkish citizenship to foreigners or investors when purchasing real estate in Turkey. Additionally, the government provides real estate residency by purchasing property, and works on exempting foreigners interested in real estate investment from value-added tax in specific projects. To save time and facilitate procedures, the Turkish government has introduced facilitations in transferring property ownership to the investor's name within a record time of three days. With these policies and procedures, the Turkish government demonstrates its commitment to making the country a preferred destination for foreign investment, enhancing economic growth opportunities, and promoting international cooperation.

Benefits of real estate investment in Turkey :

• High Investment Returns : Real estate investment in Turkey offers high returns, ranging from 4% to 7% annually for rental yields and from 15% to 25% in terms of property value appreciation depending on the property location.
• A variety of options : In Turkey, a diverse range of properties is available to suit all budgets and needs, from residential apartments for sale in Turkey to luxurious villas for sale, as well as commercial units.
• Property Ownership Ease : The process of purchasing real estate in Turkey is characterized by ease and simplicity, with clear and simplified procedures.
• Turkish Citizenship : Investors who purchase real estate in Turkey worth $400,000 or more are eligible to obtain Turkish citizenship.

Types of real estate investment in Turkey :

• Residential Apartments : Residential apartments are one of the most common types of properties in Turkey, available in all Turkish cities in various sizes and prices.
• Luxury Villas : In Turkey, a variety of luxurious villas are available, each boasting a prime location and stunning views.
• Commercial Units : Turkey is witnessing a noticeable growth in the retail sector, leading to an increased demand for commercial units.
• Lands : Lands are considered long-term investments in Turkey, known for their relatively low prices compared to built properties.

Conclusion :

Real estate investment in Turkey is considered a profitable and attractive option for many investors, thanks to a range of factors and advantages mentioned above, including strong economic growth, strategic location, continuous urban development. These are among the main reasons encouraging investors to choose Turkey for real estate investment. Additionally, high investment returns and guaranteed profit opportunities, especially when dealing with a reputable real estate advisor, further enhance the appeal. Real estate investment in Turkey is expected to continue growing and prospering in the coming years.