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By Justin Mays:
One of the main reasons investors are interested in buying
commercial properties is the earning potential. Residential and commercial are
both great to invest in but what sets commercial properties apart is the high
financial returns they offer buyers.
Turkey is known for its beauty, diversity and hospitality. But that’s not all; its position as a bridge between Asia and Europe has
fascinated many, and foreign investors are taking advantage of this status by
purchasing commercial units in prime locations all over the country.
This article will outline what commercial real estate is and all the reasons for investing in commercial properties in Turkey.
What Is Commercial Real Estate in Turkey?
Commercial real estate includes properties that are used to
earn capital. Commercial properties include:
- Office Buildings
- Shops
- Retail Stores.
- Apartment Buildings.
- Hospitals.
- Hotels.
- Warehouses, etc.
- Mixed-use Properties (for example, home-office buildings)
Retail stores must be located in areas with high foot
traffic to grab potential customers. Hotels are some of Turkey's most lucrative
commercial properties because of the thriving tourism industry.
Why Invest in Commercial Properties in Turkey
Here is a list of reasons why you should consider commercial
real estate in Turkey if you are interested in investing in local properties.
Turkey as a Eurasian Country
Turkey’s geographical location is unique in the world since
it sits on two continents and acts as a gateway to different global markets. It
is impossible for commercial investors not to tap into the Turkish commercial
real estate market to benefit from the affordable properties available.
The country also has an educated young population and plenty
of qualified labor, prompting many investors to buy commercial real estate to
run their businesses.
High Income Potential
Many choose commercial properties over residential real
estate because of high-income potential. Commercial properties have the
potential to bring impressive annual returns based on the area of the
property.
The commercial real estate market in Turkey is diverse.
While the returns they offer may differ from city to city, investing in
commercial units in major cities is vital for a secure investment.
Easy Property Maintenance
The tenants of commercial properties pay huge attention to
the maintenance and appearance of the commercial property. They have to make
sure that the storefront is presentable, so they don’t lose business.
As a result, property owners do not have to worry about regular property maintenance, while the commercial tenant pays the cost of maintenance and repairs. Commercial tenants are also much more reliable than residential tenants since their livelihood comes from the property. Hence, they ensure that the property is in excellent shape and always have great relations with the owner.
Rapidly Developing Infrastructure
Turkey’s economy has been improving rapidly in the last few
decades, and the infrastructure is one of the most modern in the world. The
Turkish economy grew 5.4%
during the 2022-2021 period.
With its rapidly growing population, Turkey has initiated
many mega projects and has the most innovative health and transport facilities
for its residents.
Highly Developed Industries
The tourism industry leads the way among all the local
industries in Turkey. In 2021, Turkey received 24.7 million foreign tourists.
This has created a massive demand for accommodation, resulting in foreign
investors purchasing properties to rent out for consistent income and
diversifying their property portfolio simultaneously.
Turkish Citizenship
You can invest at least USD 400,000 in Turkish commercial or
residential properties to get Turkish Citizenship. Many investors from Asian, European and Middle-Eastern
countries have invested in the local property market to become eligible for a
Turkish passport.
Need Professional Help?
Prime Property Turkey is one of Turkey’s top real estate
consulting agencies. We provide our clientele with carefully curated property
recommendations based on their requirements after a free consultation. And
that’s not all! We give you expert advice on making the most profits from your
real estate purchase.
We have a multilingual team to cater to various
nationalities, and every purchase we make is followed by our after-sales
services to assist our clients.
If you want to stay notified of lucrative real estate
investment opportunities in Turkey, you can stay in touch with our team by
filling out the contact form above.
More to read from us:
Tips for Finding the Best Property in Turkey
Asian or European side? Which location is better to buy property in Istanbul?
