Turkish Real Estate – 6 Reasons why it’s a good investment

Turkey’s real estate market has significantly developed in recent years, and further potential growth is expected in the future. This is why it has become an important question why purchasing real estate in Turkey is a good investment. Several reasons can be listed here.

First of all, the country has a growing economy and a large population. This makes it an attractive place for foreign private and corporate investors. Additionally, Turkey’s real estate market is quite stable, with real estate investment information being public and easily accessible. The country has seen significant developments in infrastructure and high-speed internet in recent years, and last but not least, Turkish properties are located in areas with beautiful nature and a rich cultural heritage, which also adds value to individual properties.

Turkish Real Estate – Investment Benefits

Turkey is one of the most popular countries for investors in Europe. Thanks to its beautiful beaches, rich history, and friendly locals, it is a great investment destination. We have gathered six factors that support investing in Turkish real estate.

Turkish Real Estate Prices

Real estate prices in Turkey are more affordable compared to other European countries. For the same investment amount, more can be obtained than in other countries.

In Turkey, prices have not yet reached their peak, and properties can be purchased 20-30% cheaper than in Spanish or Italian resorts. Luxury properties are also available at more favorable prices in the region.

Affordable prices also encourage investments. Currently, Turkey’s construction industry ranks third in the world, following America and China.

Turkish Real Estate – Excellent Living and Living Conditions

Each real estate project offers a wide range of additional services. These services include 24-hour concierge service, cleaning, and a free parking space per property. Additionally, shops, cafes, restaurants, outdoor and indoor swimming pools, gyms, and educational institutions are planned in close proximity to residential properties. Thus, properties can be purchased in a fully developed infrastructure environment.

Turkish Real Estate as a Low-Risk Investment

Turkey has a strong economy, and the government focuses on making the country an attractive place for business. The cost of living is low, so the amount invested in real estate brings significant returns, and there is no need to worry about the investment maintenance costs being too high.

The cost of living is much lower than in other European countries or the United States.

In Turkey, the cost of living is on average more than 60% lower than in the United States. Due to the global rise in fuel and energy prices, another important factor is that gas is cheaper in Turkey.

Tourism is booming in the country, with the number of tourists rising year by year, which also increases interest in Turkish properties among foreign investors.

The Investment Environment for Turkish Real Estate

The country is rich in natural resources, its economy is thriving, and it shows an annual growth rate of around 2.8%. The country’s economy is largely based on services, with about 70% of GDP coming from this sector.

The tourism sector is also growing rapidly, with beautiful beaches and ancient ruins in the country attracting more and more tourists.

Turkey is actively working to make itself a popular destination for foreign investors. Investments in Turkey are expected to yield stable returns both in the short and long term.

Turkey is currently the 14th most popular investment destination in the world.

Turkey is favorable for both private and business investments. Among OECD countries, Turkey offers the most favorable corporate tax conditions.

Turkish Real Estate and the Transportation Network

Turkey has more than 50 airports, 12 of which are international. Istanbul’s Atatürk Airport is the largest in the country, handling more than 50 million passengers annually, making it one of the busiest airports in Europe.

The state-owned railway network is also one of the largest in Europe. The national railway system connects Turkey’s major cities with each other and with neighboring countries, such as Greece and Bulgaria.

The railway system consists of three main lines. One runs from west to east, another from north to south across the country. The third line connects Istanbul with Ankara via Edirne on the Greek border.

Turkey’s highway network is extensive, covering all the major cities of the country. Additionally, several highways connect the main urban centers within individual provinces or regions.

Turkish Real Estate – Turkish Citizenship

Turkey has been welcoming international investors since the 1980s, and today it is one of the most popular destinations for those looking for real estate. More and more people are deciding to choose this fabulous location as their home.

One of the biggest aids to this is the Turkish citizenship program. The Turkish citizenship program allows one to obtain citizenship in Turkey through purchasing real estate or investing in the country.

Thanks to the Golden Visa, foreign investors have the opportunity to obtain a Turkish passport and citizenship if they purchase real estate worth at least 400,000 USD, which is an attractive offer compared to higher thresholds required by other countries within the Golden Visa program. This option is currently particularly popular among Afghan, Russian, Ukrainian, and Persian citizens.

By obtaining Turkish citizenship, investors become entitled to free healthcare in state hospitals and discounts on private medical services.

Turkish Real Estate – How to Buy as an Investment?

The first thing is to decide what type of property you want to purchase as an investment. It should be suitable for rental, permanent residence, or just serve an investment purpose.

When selecting the location, the price range of the property is crucial. More expensive properties are available around Istanbul and Ankara. In contrast, Antalya or Bodrum offer cheaper properties with suitable infrastructure.

The housing market in Turkey grows rapidly every year. The country’s real estate market is dynamic, with a strong mix of old and new. It is always worth hiring a lawyer for property purchases, who will help with understanding contracts and complying with regulations.

Buying real estate in Turkey as an investment is simple. After finding the right property, the legal process is quick, and legal documents can be easily prepared.

Our real estate sales team helps with finding the desired property. Kenway’s office exclusively sells real estate in Turkey in several regions.

Feel free to contact us with your questions.