Why Investing in Turkey Based Properties Is A Good Idea
Turkey has risen as a real estate super power in the last couple of decades and especially for foreign investors from the Middle East in particular. The following are some of the main reasons this is so:
- Turkey offers a high quality of life with more than 300 sunny days a year and spectacular views of the ocean.
- Real estate in Turkey has increased in value with many properties multiplying in value. This has made the market particularly attractive to investors who wish to invest in vacation homes in the country.
- Turkey covers approximately 783,500 square kilometers of land area. That is a lot of area for land development which is one of the reasons why the sector has grown in the last decade. Even though there has been a decline in real estate investments in Europe and the US due to the economic crises, the Turkish market has been left relatively untouched by it. In fact, it has grown by about 15% in the last couple of years alone.
- Owning foreign property can enhance your real estate portfolio far more than local ones when it comes to tax benefits. This investment also remains unaffected by economic fluctuations.
- Istanbul is considered to be one of the most attractive cities in the world when it comes to real estate investments. The increase in foreign investors and investment options has a lot to do with this which has been motivated by Turkey’s EU membership. This has increased the purchase of holiday homes in the country as well.
- Legislative amendments to several laws pertaining to property purchases in real estate have strengthened the market in the country.
- The real estate sector in Turkey accounted for almost 5% of the gross domestic product in the last couple of years.
- Real estate and construction in the country accounted for almost USD 4.1 billion of the total FDI back in 2015.
- Approximately 400 billion USD have been allotted by the private sector in Turkey for urban renewal projects. So if you are searching for Istanbul properties for sale, then you will not have difficulty finding some to your liking.
- Turkey experienced an increase year on year by about 18% making it a successful emerging housing market in the world and way ahead of other countries such as Australia and Sweden.
These facts should be enough to convince anyone why investing in Turkish real estate is a good idea. At ALAProperty we have known this for years and have a HQ in Istanbul to prove it. We are determined to provide successful investment opportunities for investors hailing from the Middle East and beyond. Contact us for a consultation today or fill out our enquiry form and we will get back to you as soon as possible. Dial +90 212 235 64 14 to get in touch with our office directly and to speak to an expert. We are here to help.