Although Turkey needs no formal introduction, in the section above we have tried to briefly introduce you to this amazing country full of exciting opportunities. Of course its beauty is legendary, its history is enchanting and the food is to die for. But why should you invest in Turkish properties? Well, let’s just try to forget for a second that it is one of the most beautiful and culturally rich places on earth and focus on its present and future. In other words, it’s time to sit down and talk business. Having been in the booming real estate business for a very long time, we can say more than a thing or two about the business side of things.
Firstly, we need to go a few years back in history. After a hard-hitting economical crisis in 2001, Turkey has recovered in an unprecedented way. It has found the political and economic stability that it has long sought after. Its GDP has tripled; inflation rates have stabilized and investor confidence has become stronger year after year. Coincidentally, many multinational corporations have opened their EEMEA headquarters in Istanbul, as the city has become a regional finance and business center. With Istanbul leading the way, the biggest and most developed provinces of Turkey began experiencing incredible waves of development in all areas. Large-scale urban transformation projects, as well as mega projects have made construction and real estate development the most lucrative businesses in Turkey. In Istanbul, mega projects like the Third Bosphorus Bridge, the Third Airport, Northern Marmara Highway and Kanal Istanbul (Istanbul Channel) will harvest untapped potential in northern Istanbul, creating a new city within the city. Giant residential projects, mega malls and outlets are being built all throughout the country, day after day, with Istanbul getting the lion’s share.
Meanwhile, transportation, education and healthcare sectors have followed in the footsteps of construction and real estate. A high-speed train line to Ankara, an underwater subway line connecting Istanbul’s European and Asian sides and the aforementioned mega projects will have radically transformed the transportation sector. 190 universities, alongside technical and vocational high schools turn out more than 600,000 students annually, contributing to the well-educated work force in this young and strong economy. The business world is also expanding, thanks to ease of setting up a company, equal treatment of all investors, and global standards in banking offer professional reassurance to any potential investor.
Even when you just begin to scratch the surface, you can see the exciting potential Turkey has to offer to property investors. In recent years, Turkey introduced new regulations in law, finance and banking, specifically tailored to increase and simplify foreign investment. Mortgage financing has become a smooth, risk-free and efficient way to own properties. Residential projects are being carried out by respected and globally recognized construction companies. The internal demand for quality real estate projects is high, keeping the market in momentum. Turkey’s tax system also appeals to investors, thanks to low taxes and easy operation. Many people can speak English, lifting the language barrier and making room for clear communication. Many techno parks, a booming e-business sector and a strong ITC market have made Turkey a regional force in terms of digital technologies.
As the bridge between East and West, Turkey continues to offer investors a range of opportunities, whether you are a businessman, investor or a single purchaser. A welcoming country with a long tradition of diversity and co-existence, its large domestic market and international appeal make it the perfect location to invest.