Why Gulf Residents and Real Estate Investors Should Think of Turkey as Their Next Viable Investment Opportunity
The end of the longstanding reciprocity law in Turkey has opened gates for many, when it comes to buying property and real estate in the country. In addition to that, Turkey’s real estate market boasts exceptional growth over the past few years. This has made the country’s real estate a viable investment option for overseas investors.
More than any other nation in the world, Turkey presents itself as an excellent investment opportunity for the residents and real estate investors of the Gulf States. Here’s what makes Turkey their next most viable investment option:
It is Close
Unlike other lucrative real estate markets, Turkey is located quite close to the Gulf States. This makes travelling to and from Turkey convenient and simple. Once you invest in property in Istanbul or any other Turkish city, you might have to frequently travel to the country to ensure efficient monitoring and handling of your property. A short distance in this case can make a world of difference to your traveling and operational costs as an investor.
It is Affordable
Property in Istanbul and the rest of Turkey are cheap – at least when compared to those in other European countries. You, as an investor, can acquire a wide range of properties starting from single room apartments to grand villas with private swimming pools in nearly half the price they’d cost you in Spain or Portugal. Plus, these properties are rising in value with every passing day and offer promising stable returns.
It Shares Similar Culture
Turkey is more like the home away from home for the residents of Gulf States. It shares similar culture in terms of food, traditions, and to some extent, religion as well. This is particularly important for people who are looking to buy property in Turkey in the hopes of turning it into a holiday home for them and their families. You can find the mosques and minarets, similar food, and an ideal blend of ancient and modern architecture – quite similar to that you see in the Gulf.
It’s European & Not European at the Same Time
Turkey is beautiful. Every city in the country has its unique charm that attracts tourists and investors from all across the globe to them. This country enjoys a unique setting between two acutely distinct continents. Turkey holds its European and Asian roots with pride and that is clearly visible in the country’s architecture, infrastructure, culture, and food. So, it’s easier to find a neighborhood – whether European style or bohemian chic – that suits your preferences.
It’s the Better Alternative
Most real estate investors previously preferred investing in local properties. There foreign alternatives for the longest of times remained properties in the US or across Europe. However, the international scenario is changing now. The US is too far and has become considerably unstable politically. Situation in European countries is slightly different; their property markets with high investments and low returns aren’t all that attractive for investors anymore. Plus, most of the Europeans have taken a hostile approach towards Arabs and Muslims following the refugee influx.
The situation in the Gulf States doesn’t give a positive outlook either. With the isolation of Qatar, there is clearly some trouble brewing up in the Middle East and it will take its toll on the economies, including real estate markets.
For more on real estate investment in Istanbul or any other city in Turkey, get in touch with us at Ala Property.