Is real estate investment in Turkey still attractive in 2023?



Is real estate investment in Turkey still attractive in 2023?

After the fluctuations in the Turkish currency during the previous stage, and in light of the economic conditions that Turkey is experiencing these days, is real estate investment in Turkey still profitable? Is creating a real estate investment in Turkey make any sense?

Learn through Imtilak Real Estate, the conditions of real estate investment in Turkey in 2023, and whether it maintains its advantages that attract businessmen, as was the case in previous years.

Is real estate investment in Turkey still luring in 2023compared to before?

Turkey, with its strong ground on which various types of investments are built, is a global center of attraction for foreign investors and businessmen, especially with the many investment opportunities it provides in various sectors, real estate, industrial, commercial, agricultural, and other available investment fields.

Given what the previous years witnessed of great prosperity and tremendous development at the level of the real estate sectors, we can call those years the golden stage in the world of Turkish real estate, especially since real estate prices have achieved an unprecedented rise, and the number of properties sold broke records, and high rates were recorded In the buying and selling of real estate by foreign investors.

There is no doubt that the period that witnessed prosperity and development in the real estate aspect was not in vain, but was through prior planning by the Turkish government, which enacted laws that encourage businessmen to start the first step of real estate investment in Turkey and amended the executive regulations related to obtaining Turkish citizenship.

According to the official statistics of apartment sales issued by the Turkish Statistical Institute, the rate of foreigners buying apartments in Turkey has been on the rise since 2015.

This rise is confirmed by data indicating an increase in the number of apartments sold from 22,428 properties in 2017 to 40,044 properties in 2018, while the number of apartments sold to foreigners reached 67,322 properties during 2019, which is the highest number recorded in the past ten years in terms of real estate sales to foreigners.

This high rate of property purchase by foreigners in Turkey is due to amendments to Turkish citizenship laws, which have encouraged many businessmen to invest in Turkey, particularly with regard to the reduction of the value of property eligible for Turkish citizenship from $1million to $250,000, and the reduction of the value of the bank deposit guaranteeing Turkish citizenship for foreigners from $3 million to $500,000.

In light of the aforementioned information, it can be said that real estate investment still retains many of its advantages that encourage foreign investments, and includes many incentives that businessmen desire to establish all types of real estate investment in Turkey.

Real estate investment in Turkey

Has the fluctuation in the price of the lira affected real estate investment in Turkey?

After the recent fluctuations in the exchange rate of the Turkish lira, and its sharp decline against foreign currencies, the questions for investors wishing to buy a property in Turkey are: Is buying a property at this time a successful investment, or is it a risk? Have the fluctuations of the Turkish lira affected real estate investments in Turkey? What is the feasibility of real estate investment in Turkey?

To answer these questions, it can be said: The risk of loss is always present in all investments, no matter how different they may be, but it is the smart investor who can determine the success factors in his or her project and can take chances on the form that guarantees his or her interests.

Everyone knows about the fluctuations in the Turkish lira in recent months, and the subsequent rise in real estate prices in Turkey and changes in the real estate market, and the increase in the prices of raw materials needed for construction and housing projects.

Therefore, the fluctuations of the Turkish lira, especially the rise of the dollar against the Turkish lira, constituted an important factor that foreign investors benefit from in the first place. The amount that the foreign investor was monitoring to buy a property in extreme areas of Istanbul, qualifies him to buy a property in one of the central areas of the city.

The construction companies have also raised the prices of apartments in a way that corresponds to the new exchange rate of the Turkish lira, and this is reflected positively on foreign investors, through which they can achieve a successful investment, and reduce the risk of their investment operations.

In addition, buying a property in Turkey in installments during the fluctuations of the Turkish lira is one of the positive points that favor foreign investors as well, because the continued decline of the Turkish lira against the dollar automatically reduces the value of the installments over time.

It is worth noting that the number of those who obtained Turkish citizenship by purchasing a property by Imtilak Real Estate Group in Turkey is approximately 1000 investors until the moment of writing this article, and it has great experience in the Turkish real estate market and is always working to provide free consultations and the necessary advice that protects the investor from the possibility of falling into a loss during his real estate investment.

steps of real estate investment in Turkey

What are the advantages of real estate investment in Turkey?

The real estate market in Turkey contains many advantages, which makes foreign capital flow in order to create many real estate investments available in it, whether investing in residential real estate or commercial real estate, where the investor in the field of real estate gains many opportunities, allowing him to benefit from the advantages of real estate investment in Turkey, which can be summarized through the following points:

  • Obtaining real estate residency.
  • Obtaining Turkish citizenship in the event of buying a property worth $250,000.
  • Obtaining a Turkish passport and freedom of movement between countries of the world.
  • Profitable returns that you gain by reselling or leasing.
  • The increase in the value of the property in the long run, and thus the increase in the value of the capital.
  • The possibility of benefiting from the government facilities provided by the Turkish state to investors on its territory.
  • Comfortable and peaceful life awaits investors in Turkey, especially with the similarity of many Turkish customs and traditions with Arab customs.
  • Possibility of learning in Arabic and English in Arab international schools and Turkish public and private universities.

What are the best real estate investment areas in Turkey in 2023?

The real estate market in Turkey is distinguished by diversity in terms of its investment areas, and its developed residential projects are distributed to various Turkish states, where each of the Turkish states has specifications in its properties that distinguish it from other states, and one of the best real estate investment areas in Turkey during 2023the following:

  1. Istanbul, the city of the two continents, contains housing projects with distinct urban engineering, as these projects are distributed over a number of regions within the continents of Asia and Europe, the most prominent of which are: Basaksehir, Şişli, Kağıthane, Levent, Beşiktaş on the European side, and Üskudar Beykoz, Kadikoy and Sancaktepe are on the Asian side.
  2. Ankara, in which most ministries and embassies are concentrated, and the political capital of the country, which is witnessing a remarkable development in terms of housing projects available in it, and the most important areas for investment in Ankara: Çankaya, Altindag, Kashi Oran, Kahraman Kazan, Gulbaşı, Altin, Sincan.
  3. Antalya, the country's tourist capital, in which all the elements of safe and comfortable housing are concentrated in the arms of charming nature, and the most prominent areas of investment in it are Konyaalti, Alanya, Kemer, Serik, Kumluca.
  4. Bursa, which is the ancient capital of the Ottoman Empire, embodies many prominent archaeological and tourist attractions, is close to Istanbul and embraces many real estate and industrial components. Mudanya, Inegol, Nilüfer, Osmangazi are among its most important investment areas.
  5. Trabzon, which is nicknamed the Bride of the Black Sea, embraces the most wonderful landscapes, offers a group of residential complexes with a wonderful urban style, and charming views of the landscape around them. Akçaabat, Araki, Arsin, Maçka, Ortahisar, Yomra are at the forefront of the investment areas.
  6. Sakarya, which is characterized by its exemplary properties and a static environment far from noise and traffic congestion, highlights to you some of its most important investment places, such as Adbabazri, Sapanca, Karasu, Serdivan, Ak Yazi.

What are the returns on real estate investment in Turkey?

Investment returns can be defined as the percentage that is estimated between the net profit and the investment cost resulting from the investment of some resources. In other words, a higher investment return means investment gains positively over its cost.

Return on investment (ROI) is used as a performance measure to assess the efficiency of an investment or to compare the efficiencies of many different investments. In purely economic terms, investment returns are one way to link profits to the investor's capital.

It must be noted that the method of calculating real estate investment returns in Turkey differs from other investments in other areas, where the capital in the property maintains its real value, and the value of the property may often increase, to reach the annual percentage of profits through investment returns which are achieved by reselling or leasing up to 20% of the original property value.

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Edited by Imtilak Real Estate©

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