With the booming economy in recent years, Turkey attracts attention in many areas such as automobile, agriculture and food, health and pharmaceutical sectors, and real estate. Investors are encouraged to invest in Turkey by the dynamic speed of growth of the economy. Investments in the real estate sector, in particular, allow investors to earn more profits.
So, what are the most profitable investment areas in Turkey? Is it profitable to buy Property in Turkey?
Although there are many areas to make investments in Turkey, three sectors particularly bring large income;
Vehicle production in Turkey is increasing every year. This increase makes Turkey one of the largest automobile manufacturers in the world. Turkey is expected to become the largest automobile manufacturer, compared to the countries of the Middle East and Africa. The product range ranges from sedans to heavy trucks.
Turkey has nearly an average of 11,000 varieties of vegetables and fruits. Therefore, Turkey is among the countries which have the most fertile soil in the world. The amount of varieties is around 11.500 in Europe. Turkey is in the first place in the world ranking in terms of production of raisins, dried figs, nuts. Also, Turkey produces the highest milk and dairy products in its region.
One of the most attractive areas for foreign investors is the real estate sector. Through the buying property in Turkey, investors can sell or rent their property at a higher price because of the increasing exchange rate. The most preferred method for investors in these periods is to search for apartments for sale in big cities. Especially with city planning, these apartments are valued day by day and bring higher profits.
You can buy an old property and renew it and sell it at a higher price. Or you can buy an apartment to invest in Turkey and can have regular income by renting it.
As an experienced real estate agent in Turkey, we have brought together all you need to know about the real estate market as a list. Does investing in property in Turkey bring you profit? What advantages does the real estate industry have? Let's take a look at all the details.
Before the list, we would like to let you know that those who want to invest in Turkey, generally prefer the real estate sector. The main indicator of this is that more than 45,000 foreign investors bought real estate in 2019 alone. Of course, everyone makes their chooses for different cities. But in general, buying a property in Turkey is the rising investment category these days.
Well, why do so many people mostly prefer the real estate sector?
Anyone who follows the Turkish Lira closely sees that the currency values have dropped in recent years. Although this decline does not give good results for local people, it brings profit to investors. For example, although the exchange rate from US Dollars to TL is 3 TL in 2015, this amount has tripled these days. Yes, house prices have also increased, but this increase is not too much compared to the exchange rate.
When it comes to a vacation in Europe, Italy, France, and Spain come to mind. However, real estate prices in these countries are too high. Therefore, it is clear that the most advantageous option is to buy a property in Turkey. Turkey offers unique opportunities for those looking for long-term investments. Even the price of an apartment by the sea is quite high in European countries. But the decline in the exchange rate in Turkey allows foreign investors to obtain more profit.
When you compare with other European countries, the cost of living in Turkey is lower-priced. Bills such as affordable water, electricity, and gas prices are suitable for life. Besides, expenses such as renovating the purchased house are also pretty much reasonable. According to experts, foreign investors have a more comfortable life by investing in property in Turkey, compared to countries such as Portugal, Spain, France.
Many countries give investors the right to acquire citizenship. However, you do not need to spend large amounts of money to get citizenship by investment in property in Turkey. Unlike other countries, the low - priced investments also give you the right to obtain citizenship. For getting citizenship with real estate investment, it will be sufficient to buy a property worth 250,000 US Dollars or more. If you keep this property for three years, you can get citizenship in a few steps. However, in European countries, this period is quite long and more tiring.
Turkey has hosted many civilizations since ancient times. Therefore, Turkey shows great sensitivity to all religions and races and makes no distinction nowadays. So, you can live your life however you want and discover the wonderful culture of the country by buying a property in Turkey.
Having four seasons and being surrounded by the sea on all four sides makes Turkey perfect in terms of tourism. Therefore, whichever city you choose to live in, you can engage in any sports you want and enjoy nature views. Also, you can provide better education for you and your children in schools or universities by investing in property in Turkey. Moreover, you can have a good time in cultural facilities such as theaters, art galleries and also various restaurants, clubs, and educational centers.
You will have more difficulty buying property from a country other than your homeland. However, especially in the legal process, it is far easier to make real estate investments in Turkey than in other European countries. With the help of a lawyer, you leave the legal process behind more easily. You should also seek the assistance of a professional translator to get your legal documents translated correctly. Thus, you will not have any difficulties in the selling process. Your lawyer will give you all the necessary information about the property you want to buy in Turkey.
Watch and learn what to look for when buying a property in Istanbul, Bodrum, Turkey, London. Should you consider an expensive or cost effective Residence, office, villa. What about Social facilities, should you even consider them?