Turkey is Officially the Most Profitable Country to Invest in Real EstateWed, Jul 27, 2022, 12:43:14 AM
Turkey property prices are skyrocketed, and they attract the attention of billions from all around the world. Today, there is a rapidly growing trend to invest in real estate in Turkey. If you would like to benefit from this opportunity and multiply your investment in less than a decade, then this guide is for you.
Turkey used to struggle due to economic crises in the past. However, it is one of the few countries that managed to grow its economy during the COVID-19 pandemic. In addition to this, the new infrastructure works of the government attract many foreign investments to the country.
Today, Turkey is also one of the most preferred destinations for international students. In short, it is one of the most ideal countries you can consider investing in. If you would like to learn more about the investment opportunities in Turkey, keep reading.
Quick Overview in Turkish Economy
Unfortunately, Turkey could not overcome its financial problems yet. However, the steady stats are quite promising, and it already started to attract the attention of many international organizations. The amount of foreign investment is increasing every passing month. Those who enter this market first already began to enjoy the results of their decisions.
On the other hand, a promising Turkish economy attracts the attention of individual investors too. The number of real estate purchased by foreign investors multiplied during the past year. This trend continues to grow, and more and more foreign investors are investing in real estate in the country.
The economy is quite stable for the past few years, and it has a growing trend. Of course, the increasing number of foreign investors has a great share in this.
Why Foreigners Compete to Invest in Real Estate in Turkey?
The fact that the Turkish lira lose great value in the past 5 years offered a great opportunity even for small investors living in foreign countries. Today, 1 Euro is almost equal to 10 Turkish Lira. As more and more foreign investors benefit from this currency difference as leverage, real estate prices keep increasing.
Many foreigners from major countries such as Germany, the United Kingdom, and the United States are investing in real estate in major Turkish cities. You can buy bigger, newer, and multiple houses with better scenery or neighborhood for the price of one regular European real estate.
This fact keeps attracting the attention of foreigners and they are investing in the most beautiful holiday destinations in Turkey.
Annual Increase in Real Estate Prices in EU Countries and Turkey
The COVID-19 pandemic led to serious drops in real estate prices in many major countries and cities. However, this is not a question at all for Turkey. According to the statics published by Eurostat, Turkey is leading in the annual increase in retail estate prices in EU countries.
Here are the top 10 countries with the most annual increase in real estate prices.
- Turkey 32%
- Luxembourg 17%
- Denmark 15.3%
- Lithuania 12%
- The Czech Republic 11.9%
- Holland 11.3%
- Germany 9.4%
- Australia 8.3%
- Bulgaria 7.5%
- Slovakia 7.3%
However, it will be worth noting that the calculations include 81 cities of Turkey. As a foreign investor, you generally invest in larger cities or cities that attract the most visitors. It is safe to say that the rates are already doubled in such cities.
We can provide you the guidance and consultancy you need in finding the best investment opportunities in Turkey. Our team can recommend you the best locations for the best return on investment rates, which you can easily sell your real estate whenever you want to quit the market or believe you made enough profit.
Annual Increase in Rental Prices in EU Countries and Turkey
Just like the annual increase in real estate prices, Turkey is also leading in rental prices. In fact, this is one of the popular topics of the Turkish press recently. According to the statics, the average time for real estate to be rented in major cities of Turkey is 5 days. Property owners can easily rent their homes without wasting any time.
Here are the statics provided by Eurostat about the annual increase in rental prices in European countries.
- Turkey 9.4%
- Australia 5%
- Latvia 4.1%
- Holland 2.9%
- Poland 2.9%
- Romania 2.5%
- Lithuania 1.8%
- Cyprus 1.6%
- Ireland 1.6%
- Slovakia 1.6%
Although Turkey has around a 10% annual increase in rental prices, this rate increased up to 60 and 70% in major cities such as Istanbul, Antalya, or Mugla. As a foreign investor, you are going to want to invest in such major cities which you can easily sell your real estate whenever you want.
In this regard, we can provide you the consultancy you need within Turkey. Our expert team can help you to explore investment opportunities that have the best return on investment rates.
Will This Trend Continue in the Future?
This trend has been increasing for the last three years and experts estimate that it will continue like this for at least five more years. In addition to this, the Turkish Government grants Turkish citizenship to investors who buy real estate worth $250,000 and keep it for at least three years.
Just this fact is quite appealing for many foreign investors and many people are still investing to get Turkish citizenship. This is why it is believed that this trend in purchasing real estate or investing in Turkey by any means will continue without any disruption.
If you would like to learn more about these and more investment opportunities that will provide you numerous benefits, we can provide you the consultancy you are looking for.
Our expert team is offering services to foreigners who would like to learn more about Turkey and its opportunities for foreign investors. We can help you to find the best real estate at the most affordable prices and offer the best return on investment rates.
You can contact us at any time for detailed information. We can answer all your questions while showing you some of the most appealing investment opportunities.