When looking at recent globalization trends, foreign investment in Turkey is diverse, with real estate being the most popular. Due to its strategic location and significant profits, Turkey is a popular choice for investors from all over the world.
Why Invest in Turkey?
Turkey’s growing economy, geostrategic significance, and unmatched potential have made it an appealing location for international investors across a wide variety of industries.
The top reasons are; economic growth, domestic and easily accessible markets, strategic location,highly qualified workforce at a lower cost, processes of constant reform, professionalism and openness in businesses, beneficial incentives, beneficial Research and Development ecosystem, and great opportunities in several fields.
Types of Investments in Turkey
The most popular type of investments in Turkey are:
- Real Estate
- IT & Tech
- Textiles and Garments
- Health Sector
- Precious Metals – Silver & Gold
- Natural Resources & Energy
- Tourism Sector
What is the Best Way to Invest in Turkey?
Real Estate Investing is The Most Profitable Investment With Quick Returns
If you want to invest wisely and get a good return on your money, you must invest in the right real estate. The goal of prudent investing is to save your assets and sell them for a profit. You may also need to buy items to fund other investments or meet unanticipated needs. In summary, you can seek to make a profit, keep its worth, and convert it into cash as needed.
Foreigners can obtain Turkish citizenship by buying property in Turkey valued at above $400,000, boosting real estate and housing sales. Buying real estate worth $400,000 in any part of Turkey, including Istanbul, grants you Turkish citizenship. Buying property below this price also qualifies you for a Turkey resident permit and a visa-free entry.
You may buy three or two apartments for $400,000 and rent them. Rents are high in cities like Istanbul, Antalya, Bodrum, Fethiye, thus you will have significant profits.
Turkish commercial real estate appeals to the majority of foreign investors. Because Turkey has been the most important business hub in recent years, the argument is sound. It’s incredible to see the hotel and healthcare industries grow at such a rapid pace in the last five years. By 2023, real estate investors expect the industry to have taken a significant turn for the better.
Why Buying Real Estate in Turkey is a Good Investment?
- Turkish Citizenship by Buying a Property
In order to attract foreign investment, the Turkish government passed a law allowing buyers who spend at least $400,000 on a property and intend to keep it for at least three years to become eligible to apply. Turkish citizenship comes with several advantages, such as access to health care, better business contacts, inheritance rules, retirement benefits, and many more.
- Simple Process of Buying Property & Obtaining Residency
The quick process of obtaining a residence permit and the advantageous visa regime are two clear benefits of buying property in Turkey. Many countries’ citizens can travel to Turkey for tourism without wasting time or money on visa applications. Residence permit holders can take advantage of a pleasant environment, stunning surroundings, and a plentiful supply of delectable and locally sourced fruits and vegetables every day in Turkey. Owners of Turkish real estate also have the option to seek Turkish citizenship after five years of residency.
- Competitive Cost
Many cities in Turkey provide affordable real estate choices. Choosing a luxury property in Europe might be tricky. However, in Turkey, it is simple to find a quality home at a low cost. That’s why you can find several properties above your budget.
- Services & Facilities
In Turkey, hospitality and service are always valued. Almost all new residential complexes provide high-level welfare services. These services help you improve your living situation. You can find great value in these family-friendly facilities including a Turkish bath, spa, gym, and parking lots.
- High Demand
Tourists prefer several Turkish cities. Summer and tourist zones are common in cities like Antalya and Istanbul. So, these cities are gaining in popularity. In this situation, the housing values rise with time. You can sell your house for Turkish citizenship as a future investment.
- Convenient Transportation
If you live in Turkey, you will notice how easy it is to go around. You can travel to various locations using your preferred mode of transport. This will show you how simple your life will be. You will not have transportation issues with tram, subway, and bus lines. Catch the best opportunities with the best transportation.
Things to Consider Before Investing in Turkey
If you’re looking to invest in Turkish real estate, there are a few things to keep an eye out for.
- Location of the Property
In order to make an informed purchasing decision, you must know where you’re buying Turkish property. Regardless of whether you’re buying real estate for business or pleasure, you should weigh the benefits and drawbacks carefully.
- The Restriction on the Property’s Ability to be Resold
Once you’ve joined the country’s citizenship program, you won’t be able to sell your property for three years. As a result, before making an offer on a property in Turkey, double-check your ownership status.
- Currency Exchange Rate Fluctuations
The lira’s value vs the dollar differs significantly. The currency exchange rate will be an issue if you choose to purchase real estate in Turkey. Whatever currency you pay in, the investment must be $400,000 or more. The cap is determined by Turkey’s central bank.
- Total Amount of Immovable Property
The law also contains some limitations, such as the amount of property that can be owned. Turkey’s limit is thirty hectares.
Consult Nevita ® for a Profitable Investment in Turkey
Interested in learning more about the Turkish real estate market? Speak with one of our local sales representatives by calling us right away. There are numerous investment opportunities on the market nowadays. Options may seem endless if you don’t know the country well. However, not all properties are suitable investments. Also, take a look at our extensive portfolio of Projects and Properties for sale in Turkey.