Many of those wishing to invest in real estate about the future of real estate in Turkey wonder whether the development and demand for real estate will continue or stop due to the global economic crisis.
We must look at several points through which we can know the future of real estate in Turkey and whether it is still as attractive as before.
Is buying real estate still as attractive as before?
First of all, if we look at Turkey’s historical site, we find it an important cultural center with economic, commercial and political weight. And the most important countries throughout history were based in Turkey, such as the Byzantine and Ottoman states and other countries, Therefore, we see that Turkey has always been an important center of all time.
If we look at Turkey now from all aspects, we find that it is much stronger economically and industrially than before, The Turkish government is keen to create and support investment opportunities and provide the necessary environment for them.
As for the real estate investment sector, we find it much better than many great countries, It will be more prosperous than before for several reasons such as:
- The high demand for real estate, As the demand for real estate in Turkey in 2022 is more than the demand for real estate before the Corona pandemic.
- The rise in real estate prices in Turkey after the Corona crisis is contrary to what was expected, which is what happened in many countries around the world from the stagnation of real estate investment.
- The success of the Turkish government in dealing with the Corona crisis and getting out of it with the least losses, Indeed, the Turkish economic index was high and made progress during and after the Corona crisis, and it was one of the few countries that emerged victorious economically and educationally after the Corona crisis.
- The strategic location linking three continents, Its important position gives it importance at all times and no matter how circumstances change.
- Strong political role, Turkey has become a global political role in resolving many conflicts around the world, It has proven very successful in resolving these disputes, which earned it a good reputation and great international respect, and this is one of the reasons for investor confidence to invest in Turkey.
Does the decline in the exchange rate of the lira affect the Turkish economy?
The Turkish economy is characterized by being not affected by the decline in the currency, but the decline in the currency helps in reviving the export process, Even with the decline of the Turkish lira against foreign currencies, we find that the Turkish economy is constantly rising.
Advantages of real estate investment in Turkey:
Turkey has many features that attract investors to do their projects or attract families to live in it:
- Obtaining real estate residency, If he resides in Turkey under this residence for five years, he obtains Turkish citizenship.
- Obtaining Turkish citizenship if he buys a property worth $ 400,000, What is special about this offer is that you get citizenship and invest your money, but several years may pass and this property becomes much higher than the price at which you bought it, In fact, this offer is very fair when compared to many countries that grant their passports and sell you the passport and cannot refund the money if it is paid, and become a second-class citizen, Unlike in Turkey, you become a citizen with the rank of native citizen, but you can recover your money after three years.
- A monthly income generated by the property, You can sell it after three years.
- The proximity of Turkish culture to Arab culture due to religion and historical relations between Turkey and Arab countries.
- The possibility of conservative life for Arab families, There are many Arab schools, religious schools and memorization circles.
- If you obtain Turkish citizenship, you have the same rights and duties as the same Turkish citizen who has been living in Turkey for 100 years.
What are the returns on real estate investment in Turkey?
The percentage of real estate return varies according to the type of property, the area in which it is located, and the age of the property, The investor can know the percentage of annual returns by consulting a real estate consultant, who in turn can know the annual and monthly return of the property, The return of the property may reach 10% or more of the value of the property annually.