With beautiful views, a rich culture, and a middle position between Asia and Europe, Turkey has become a place for many real estate investors from every corner of the world. But it’s not only the endowments of nature and the sights full of history that make investors come here. From a pro-investment policy of the government to an ever-growing tourism industry, the country is unique in a combination of factors that have already captured the attention of local and foreign investors.
1. Strategic Location
It is rather obvious why Istanbul has earned the bark of the ‘Gateway to the East and the West’; Turkish living is indeed centered on Istanbul. Residential and commercial properties in Istanbul allow businesses and people alike to participate in the dynamic, cosmopolitan center.
The airports, seaports, and road networks in the country are developed and therefore convenient for those looking for connectivity. There is also an opportunity to take advantage of the trend of real estate in the primary zones since Istanbul is a world city.
2. Expansion of the Tourism Sector
The travel and tourism industry in Turkey has been growing gradually over the years with an influx of millions of tourists visiting the country every year. Consequently, the growth has translated to a higher demand for short-term rental accommodation in primary-demand regions such as Istanbul, Antalya, and Bodrum.
Overseas property buyers are keen on investing in holiday homes, beachfront villas, and apartments located near well-preserved historical sites due to the publicity of the country’s tourism industry.
Real estate developers will appreciate the fact that there is great potential for rental income. Properties located in areas where there are many tourists, present high chances of returns on investment, especially when the tourist's peak seasons come. The clients are ever-flowing hence the rental market is always active which means that real estate owners are guaranteed stability in the long run.
3. Attractive Government Incentives
The government of Turkey has taken several steps towards enticing foreign market players to domestic real estate. One of the notable ones is the Citizenship by Investment program where a foreign who invests in real estate of at least $400,000 is qualified to be a Turkish citizen. This has proven to be a revolutionary concept to the property market as it has many potential investors who are willing to buy properties as well as a second passport.
As an additional benefit, citizenship is offered to foreign investors in Turkey. The Turkish government provides tax advantages, and legal safeguards to foreign investors making the investment process much more straightforward. These cut down on the risks usually found in investing in properties overseas, leading many investors to seek the real estate market in Turkey.
4. Property Prices are Low
When examined against several European countries, property prices in Turkey are fairly low. Investors from high-cost markets such as the UK, Germany or the UAE view real estate in Turkey as cheap. In coastal cities, luxury villas, and modern apartments are being sold at a lower price than found in other Mediterranean nations like Spain or Italy.
Real estate in Turkey is relatively cheap in light of the high possibilities of earning profits and this encourages many real estate beginning buyers and even advanced ones. Whether it is high-end apartments for sale in Istanbul, or seaside villas for sale in Bodrum, there is real estate that suits every pocket without leaving the rewards of a fast-advancing market. Investing in real estate in Turkey is also relatively low in price. There is huge potential both from a business point of view and in the real estate market of Turkey for anybody willing to invest.
5. High Returns from Rentals
There is a growing inclination towards rental properties in metropolitan cities, especially Turkish cities such as Istanbul, Antalya, and Izmir. Turkey's rental yields are quite attractive given the millions of visitors it receives in addition to the local inhabitants. Particularly, Istanbul is a city where the rental market is massive and the opportunity for returns is better for short-term as well as long-term rental properties.
Conclusion
The increase in real estate investment in Turkey is not random. There are reasons why real estate investing in Turkey is very attractive; low costs of property, favorable government policies, active tourism sector, and geographical advantages are some of the reasons. All over the world, more and more people can realize the potential of various ways of making high profits: from rent paid for properties or increases in real estate prices, or simply purchasing a flat in a beautiful and historical country.
