Turkish Property Port

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Nemrut Mountain - Info picture about Turkey

Why buy property in Turkey?

As one of the fastest-developing countries in the world, second only to China, Turkey’s economic and cultural significance is on a steady increase. While archeological finds dating back to more than 10.000 years B.C. confirm its status as the cradle of civilization, modern day Turkey looks to the future with confidence. Turkey is the world’s 17th largest economy, with a future vision to be among the top 10 in the foreseeable future. With a population of 80 million, with almost 60% made up of young people under-30, domestic demand and qualified work force is at an all-time high. 

Turkey is also one of the luckiest countries in the region, in terms of climate, biological and geographical diversity, rich underground resources, fertile lands and abundant water sources. As a member state of G-20, UN, NATO and OECD, it is also engaged in negotiations for a full EU membership. It currently has a per capita GDP of $10,482, which has tripled in the last decade. At the same time, with one of the largest armed forces in NATO, it is an important regional power.

Where to buy property in Turkey?

Divided into 7 geographical zones, Turkey, as one of the most visited countries in the world, not only attracts millions of tourists every year, but also pulls in many expats, who have decided to call it their new home. Marmara, Aegean, Mediterranean, Black Sea, Central Anatolia, Eastern Anatolia, Southeastern Anatolia regions all hold differing appeals for investors.

Istanbul, both Marmara's and Turkey's largest and most important province, is a giant magnet drawing to itself a vast array of foreigners from all around the world. As a historical and cultural gem, it has also established its name in the context of finance, business and commerce. It is the regional star of trade fairs, global conventions and summits as well as being the ideal choice for multinationals for their EEMEA headquarters. With more than 100 shopping centers, as well as housing the world’s oldest and biggest closed market, trade and commerce in the city is thriving. Urban transformation and mega projects help expand the city, both in size and investment opportunities. Culturally vibrant all throughout the year, it is a city full of exciting events and frequently crowded by the world's most famous artists and stars. Transportation, healthcare, education, municipal projects, public social and cultural facilities are in continuous betterment. Bursa, another Marmara province, is not only the country’s fourth biggest province and an industrial powerhouse, but also boasts an amazingly rich history and gorgeous nature. Both Istanbul and Bursa, along with other neighboring provinces, are world-class alternatives to set up a new life that is both high in quality and low on cost.

Ankara, the nation's capital and second largest province, is located in Central Anatolia. It is a fast-growing city, with some of the best educational institutions in the country, while many suburban projects and satellite towns are creating cities within the city. Izmir is in the Aegean region and ranks as the third largest province in the country. It is not only the gateway to the touristic hot spots of the lovely Aegean coast, but also a great city with high quality of life, great year-round climate, and a port town with industrial significance.

Antalya and Adana are the biggest cities in the Mediterranean region, with Antalya being the most-visited touristic province, thanks to gorgeous beaches and mild climate. In the Black Sea, Trabzon and Samsun are important commercial and economic centers, while Rize and Artvin boast incredibly beautiful and green nature, with fabulous highlands. Eastern Turkey, mountainous and quite high in altitude, also includes Turkey’s largest lake, the Van Lake. Southeastern Turkey is home to major development projects and government initiatives like GAP (Southeastern Anatolia Project), which have reshaped this region in terms of arable lands.

What kind of return on investment can you expect?

Rates for return on investment (ROI) have never been better, as Turkey has become the leading investment country in Europe for GDP growth projections. Its strong financial and banking regulations, alongside the incredible growth in the construction and real estate markets, have made foreign direct investors very satisfied. Whether it’s an idyllic beachfront property or an ultra luxurious residential project, property investment yields above the global averages. In general, it is safe to expect 5-6% gross rental yield in your investments.

How does the future look?

Turkey continues to be an exciting country with many opportunities and still untapped potential. In Istanbul, mega projects like the Third Bosphorus Bridge, the Third Airport, Northern Marmara Highway and Kanal Istanbul (Istanbul Channel) will harvest the said 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. So expect this unsaturated market to keep faring well in the near future. Mortgage financing has become a smooth, risk-free and efficient way to own properties. The domestic 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. Therefore, in the near future, Turkey will continue offering investors a range of opportunities. A welcoming country with a long tradition of hospitality and diversity, its large domestic market and international appeal make it the perfect location to invest.

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