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4 Major reasons to invest in Turkey

4 Major reasons to invest in Turkey

Istanbul is one of the major cities in the world, due to its location in the center of the world, linking two continents, Europe and Asia, the variety of cultures and the great history behind this city. 

Turkey has become one of the most competitive markets in the world in the foreign investment sector, since the change of foreign direct investment law in 2003. 

From 2003 until 2016, foreign direct investment in Turkey had developed to 180 billion USD.

The government has made major changes in real estate sector, to encourage investors from all over the world to come and invest in properties in turkey. They created many incentives and facilities which made it easier for foreigners to get their title deeds and any person who spends more than 250,000 USD on a property is authorized to get a Turkish citizenship. Turkey also improved the investment environment by decreasing the costs and transactions to establish a company in Turkey, simplifying the procedure and protecting the rights of investors in Turkey.

First reason, Turkey has a strong economy that will keep growing and moving forward year after year with all the problems and political conditions in the region. Turkey’s economy occupies the 17th position in the world. Economic experts predict that by 2020, the Turkish economy will be part of the trillion dollar ranks along with the top 10 other economies in the world such as Russia, China and the USA.

Turkey in the last 14 years has become a manufacturing center for many international companies such as Ford and Nestle.

There are over 500 international companies in Turkey specializing in different sectors like agriculture, textile, manufacturing and processing, health and medical care, construction and transportation. 

Last year exportation in Turkey reached 20 billion from different industries. The successful development of the Turkish economy is a result of the 2023 vision plan for Turkey.

Second reason is the strategic location of Turkey, it is the bridge between the east and west which makes it a perfect location for investment. Surrounding nations are all interested in mutual successful investment partnerships with turkey, from Asia to Africa, middle east and Europe.

Turkey’s perfect location makes it also attractive to tourists from all over the world. These existing facts will develop even more with the new Istanbul airport that will be a major international hub for tourists and business investors. The new airport promises a brighter future to Turkey and to Istanbul specifically, which is proved by the big investments that are taking place around the area that surrounds Istanbul New Airport.

Third, the urban infrastructure in Turkey have seen strong improvements. Turkey is becoming the world leader in infrastructure. Major projects have been made to improve the conditions of highways that were ignored for so many years, and new roads and bridges have been created to make life easy and avoid traffic.

Besides that, ongoing mega projects are taking place in turkey which will help in the growth of turkey’s economy such as the new canal of Istanbul, the third new airport, the big tunnel and other factors. 

In the real estate sector, suburbs are turning into modern megacities which shows that the standard of living is also developing. Many constructions, modern housing projects and towers have been created for foreign buyers to invest in buying properties in Turkey.

Integrating social and community features with these modern houses along with stunning views, and the high modern technology made Istanbul more attractive to investors to buy a property in Istanbul.

Fourth, Turkey’s future looks very bright with all the achievements reached in the last 20 years. It is a country with great opportunities, prospects and big vision. With the determination and strength, it proved to the whole world that it could recover in the past 3 years after the terror attacks that happened in 2016 in Turkey and other countries around the same period.

The results of turkey’s economic growth and development in the past years are impressive. Turkey still has 5 years to complete the 2023 vision plan which will enable Turkey to become one of the top economies in the world, most visited country and one of the best tourist destination.

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2019 marks a Rapid Growth in Real Estate investments by Middle Eastern businessmen

2019 marks a Rapid Growth in Real Estate investments by Middle Eastern businessmen 

2018 was a successful year in the Real Estate sector in Turkey particularly after the new Law that was passed by the Turkish Government last September that allowed foreign investors to receive the Turkish Citizenship after purchasing properties at the value of 250.000 USD.

This year will mark another successful year in Foreign Real Estate Investment. Statistics show that the Arab community growth has reached up to 5 million people in Turkey especially in the industrial city of Istanbul. Istanbul’s multi-cultural environment and the variety of options that it offers in terms of areas and residential establishments, allow Arab investors to have several options when choosing a property for sale. This is a great advantage for Arab businessmen who can purchase flats or villas with a sea view, surrounded by green areas or in the city center according to their taste.

Turkey is one of the most stable countries in the area, economically and politically, in addition to that the similarity in values and traditions inspired foreigners from the Middle East, to purchase properties for sale in Turkey. Most Arab countries are suffering from governmental instability and low standard of living. Iranians are relocating to Istanbul to escape the immobile economy and rise in prices and cost of living in Iran. They are mainly investing in properties for sale in Istanbul because the cost of living is relatively cheaper than where they come from and the standard of living is quite high. 

Middle Eastern investors see Istanbul as the new business hub after Dubai, because of its strategic location and closeness to Europe. Istanbul is now home to many international company’s headquarters. The quality of living is high and relatively cheaper compared to Dubai and the Turkish market is less saturated and has a lot of potential to grow. In addition to that there are many beautiful destinations and touristic areas all over Turkey that foreigners can travel to and enjoy all year long. 

According to the forecasts of last year, Iraq is at the top of the list of countries who buy properties in Turkey. Iran, Saudi Arabia and Kuwait are also among the top countries who undergo property investment in Turkey along with Russia, at the third place, and the UK in the fifth place. 

Turkey especially Istanbul, represents a safe place where Middle Eastern investors can purchase properties and possibly relocate in case of any political problems faced by their countries. In Istanbul, they are guaranteed to find all the means of transportation that they may need, great accommodation, hospitality and quality of living compared to the neighbor countries. 

For this particular reason, the foreign investments in Turkey have been increasing tremendously. Every day new projects are being developed in several areas in Istanbul. Thus, Istanbul became one of the most sought after countries for foreign property sales. Arabs come to Turkey seeking to buy apartments and villas in safe residential areas where all their needs are fulfilled.

Istanbul hosted the Arab Investment Forum which was organized by Shahabuddin al-Azzazi, who claimed that the Economic openness of Turkey encouraged Arabs to invest in the Real Estate sector. The Forum’s aim was to create new partnerships between Arab and Turkish investors and to encourage the Turkish investors to explore the Arab market as well. 

Arab businessmen are benefitting from the drop of the Turkish Lira, as opposed to the US dollar, realizing how ideal it is to live and invest in Turkey.  The Lira’s drop marked an increase in Arab property investments remarkably. Arab investors who are seeking a better standard and cost of living are currently profiting from this decline. 

Property investment in Turkey especially in Istanbul is also a lucrative business.  

The fact that many investments are being held on a daily basis in Istanbul, promises a rewarding income in property rentals and the reselling of properties in the future. Istanbul holds many branch offices of international companies and several international universities therefore there is a high demand for property rentals. Many expats and students are moving to live in Istanbul which is why there is a high demand for rentals in Istanbul all year long. With that being said, 2019 will be yet again a prosperous year for Real Estate Investment in Turkey.

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