Recently, the demand for investment in Turkey has increased, especially in the field of real estate investment.
Turkey and the construction companies in Turkey started building many new housing units until it witnessed a real estate boom with a significant growth of 18% in the years 2014-2015, and this percentage is better than in the United States of America, Turkey is the third most profitable countries in the world Real estate investment, especially real estate investment in Istanbul as the most attractive city for real estate investment in Turkey.
As the city of Istanbul has achieved record numbers in the increase of population within the city, due to the increase in the number of immigrants within the city and the increase of investors, which made the demand for real estate and housing in Turkey increase too and due to the high demand for Istanbul, some immigrants and investors began to search in other cities for Residential complexes at lower cost.
The Turkish government is trying to exploit its old and historical areas or untapped areas by developing its infrastructure and providing it with all supplies from a transport network and advanced infrastructure to increase the demand for real estate.
Real estate investment in Turkey
A number of years ago, urbanization has increased dramatically in Turkey, leading to increased real estate investment. According to an official report issued by the Statistical Commission of Turkey, the number of construction of houses and real estate, whether residential or administrative, sold in May 2018 increased by 2.7% from May 2017.
During the same year sales in Turkey amounted to about 119,655 houses, including about 55.5000 new houses, which indicates an increase in the proportion of sales of new homes and increase the resale of previous homes, an indication of the increase in the proportion of sales, according to the same report, there were 20,000 houses sold in Istanbul only with an average of 16.8% of the total sales in Turkey, Ankara, the capital of Turkey, comes in second with 10% of the total sales.
Foreigner's Real estate investment in Turkey
The percentage of increase in sales to foreigners in May 2017 reached 36.1%, which was not achieved before in Turkish territory. In July 2018, the percentage of purchases from foreign investors for properties in Turkey increased by 65%, the highest percentage achieved by foreign investors who made the most purchase processes within the Turkish territory by buying more than 584 housing units, other than commercial and administrative offices.
Does real estate investment in Turkey has a good future?
Real estate investment in Turkey is a huge revenue from the revenues of the Turkish economy in general as the proportion of real estate investment to one fifth of the GDP of Turkey, about 20% of the total output, so the Turkish authorities are interested in real estate investment and it is shown on the development movement of infrastructure and the increased number of airports such as Istanbul's new airport Public parks and the expansion of internal highway networks linking major cities with the expansion of communication networks, sewage and metro lines such as the new Istanbul Airport Metro.
Some Turkish real estate studies have confirmed that the real estate market will see the sale of more than 6 million units by 2023 with a finance worth of 400 billion US dollars, which is a large proportion that has not met before.
The Turkish authorities also promised to amend some of the matters of real estate tax and the construction of new housing complexes so that construction and investment companies can expand their business to achieve maximum profit.
What are the advantages of living and real estate investment in Turkey for foreigners?
Turkey has a wonderful infrastructure that is very suitable for living or real estate investment.
Its geographical location and its location amid the continents of Asia and Europe, which makes it a cultural and commercial bridge.
Its ancient history and archaeological and tourist places.
It enjoys many scenic views and also has several wonderful beaches.