Why Real Estate in Turkey Remains a Hot Favorite for Gulf Investors
Are you a gulf investor thinking of stepping into Turkish real estate market? Find out what makes Turkey an awesome investment opportunity for Arab investors!
Property is the Perfect Investment!
House prices and house sales in Turkey have experienced a steady rise following the recession in 2008. Stats reveal that there were over a million properties sold in 2016 as compared to just 427,000 properties sold in 2008. That is an almost 134% increase in the number of Turkish properties sold! What makes investment in Turkish property even more interesting is the fact that the property prices have maintained a pace similar to that of the sales.
Property prices in general increased by almost 19% between 2014 and 2016, and Istanbul alone took the cake with more than 27% increase in the prices of properties. Overall, the Turkish real estate market is healthy – something that is promising for Gulf investors looking for profitable returns.
The Hotel Business Has Great Potential
With the international tourists (most of them are Arabs) flocking into the country year round, there is keen demand for hotels. The hotel business is definitely thriving, which is why there is a fresh wave of investments flowing into this industry. At a time like this, what could be better than Arab hotel owners serving Arab tourists?
Most vacationers from the Middle East tend to avoid the Mediterranean destinations. Instead, they make their way to the coast of the Black Sea coast – especially to Trabzon and Uzungol. The coastline there is greener, plus the cool weather makes this region a much better retreat than the southern destinations for Arab tourists. This is where you can actually witness the growing demand and number of Arab-owned hotels.
It Feels Familiar
Turkey is located at an ideal geographical location. It’s the place where the eastern world meets the western realm. This makes Turkey a place that offers the best of both worlds and a comfort zone that the Arabs seem to enjoy. The food is similar, the architecture bears resemblance to that back in the Middle East, there are mosques and religious events, and they share the same cultural heritage. Why wouldn’t Gulf investors want to invest in a place like that?
Tourism & Investment are Turkey’s Strongholds
The wave of Arab tourists making way to Turkey has triggered a wave of solid investments being made into the country. Good news is, this wave is not abating any time soon. Even with the economic ups and downs in the country, Turkey’s economy has held stable grounds. For Gulf investors who seek safe and profitable investments outside their country, this is a great chance to up their game.
Turkey is blissfully connected to the rest of the world. With construction of Istanbul’s third and the world’s second largest airport entering its final stages – Turkey’s international network will expand further. The best part about this is that this airport will open new horizons for Middle Easterners with over a hundred flights flying to and fro, between the countries. For investors, this is major good news, because the logistical proximity crucial for investment will improve tenfold!
Would you like to find out more about investing in Turkish real estate? ALA Property can help!