With this article we will give you the answer of the question:
Why Real Estate-Property Investment in Turkey?
Actually, the answer is simple because it is profitable!
REAL ESTATE INVESTMENT IN TURKEY IS VERY PROFITABLE FOR FOREIGN INVESTORS BECAUSE THE TURKISH LIRA IS CHEAP. REAL ESTATE INVESTMENTS IN TURKEY WILL BE CHEAP FOR YOU RIGHT NOW. THE POLICIES OF THE GOVERNMENT OF THE REPUBLIC OF TURKEY TO GROW THE ECONOMY AND THE INCREASING DEMAND OF FOREIGN INVESTORS WILL GIVE YOU A VERY PROFITABLE RETURN IN THE FUTURE.
1. For Foreigners, the currency’s devaluation means that the property market is very attractively priced, luring many buyers from the Gulf. In 2019, foreign home purchases rose by almost 15% to 45,967 units from a year earlier, following strong growth of 78.5% in 2018 and 22% in 2017.
• In Istanbul, Turkey’s largest city, nominal house prices rose by 11.71% during the year to Q1 2020.
• In Izmir, Turkey’s third largest city, house prices went up by 16.36% year over year in Q1 2020.
• In Ankara, Turkey’s capital, house prices rose by 14.85% year over year in Q1 2020.
2. In spite of the growth in recent years, Turkey is still below the average of total leasable area per person compared to the European average. This indicates potential for further retail growth in Turkey.
3. According to the Central Bank of the Republic of Turkey (CBRT), despite the Covid-19 Pandemic, the Housing Price Index, which increased by 16.7 percent in April compared to the same month of the previous year, increased by 5.2 percent in real terms in the same period.
4. The total number of homes sold in the Turkish property market reached 1.4 million units in 2018; likewise, sales of real estate to foreigners began to increase following the abolishment of the reciprocity law in 2012. In 2018, 39,663 homes were sold to foreigners in Turkey, marking a year-on-year increase of 78.3 percent. Regarding home sales to foreigners, Istanbul was the top-performing province with 14,270 sales in 2018, followed by Antalya with 7,938 sales, Bursa with 2,720 sales, and Ankara with 2,133 sales.
5. The real estate sector accounted for approximately 8.4 percent of GDP in the last decade. On the investment side, FDI inflows stood at USD 13 billion, with real estate and construction garnering USD 5.9 billion (45 percent) of total FDI in 2018.
6. The Urban Renewal and Development initiative will encompass 7.5 million housing units. The initiative has a budget of USD 400 billion, with a large contribution coming from the private sector.
7. The Turkish economy, from 2003 to 2018, has posted record growth and climbed from 18th place to 13th globally.