How the Turkish real estate market overcome the economic challenges

Between the economy in the country and the Turkish real estate market, there is a  direct relationship. With the prosperity of the first, the second rises, and the truth is that this rule is not limited to Turkey, but this is the case with all countries of the world, but what distinguishes it from others is that it witnessed unexpected conditions during the fluctuation of the economy. We will go into more depth by talking about this matter through lines that we will provide to you.

Relationship of the Turkish real estate market with the economy:

Turkey has provided a golden opportunity for a large number of foreign investors to own  a property in Turkey for their benefit before their interest. The entry of foreign capital means an increase in national income, which means success and economic excellence. Perhaps this is one of the first reasons that made Turkey have a wonderful economy with a global ranking. Today it has the number thirteen in the world, and Turkey has never been satisfied with this but aspires to progress more than that. In fact, it has all the tools and means that make it able to achieve a qualitative breakthrough in all its fields, especially real estate investment and the economy.

The conflict of the Turkish real estate market with the recent crisis:

What is meant here by the recent crisis is the Corona pandemic, which has turned the whole world upside down, but it had a different side with a few countries that are at the forefront of Turkey's pyramid. It has managed to correct the situation wisely and intelligently to reach safety. The evidence for this is that the economic sector in Turkey has prospered significantly, which has affected a significant increase in the quantities of real estate sales in Turkey, especially after it announced breaking the restrictions of prohibition and returning fully to routine life. We see that the real estate investors have caught their compasses in order to head towards Turkey.

Therefore, Turkish real estate in the meantime was one of the priorities of foreign investors. They were able to own a large number of them through the Internet through reliable real estate companies that benefited unexpectedly from this.

The future of the Turkish real estate market:

As for the current view of the future of real estate investment and ownership in Turkey, many real estate experts believe that Turkey will be the first country in the coming days and the strongest competition at the real estate level due to government development projects, especially the Istanbul Canal and the new Istanbul Airport, as well as several other projects that will lead to huge profits and attract a large number of local, Arab and foreign investors, meaning that the Turkish real estate market will be driven to turn in the wheel of development continuously.

Among the things that confirmed this theory are construction companies that poured huge funds into Turkey, bought land, established huge real estate projects, and rushed to provide all means of entertainment and comfort that meet the needs of customers. The star of real estate companies of various nationalities rose and competition increased between  them in order to attract investors.

It is expected that the real estate in Turkey will witness a significant increase in its prices during the coming years due to the expected high prices in all parts of the world, and also the Turkish government has a prominent role that cannot be overlooked in this matter, as large real estate projects and urban transformation projects raise the demand for buying neighboring real estate and in return their prices will increase gradually, which will return to investors in them with huge profits, whether by renting or reselling after a period, but there remains a fixed rule that does not change no matter what changes occur, which are the factors affecting the price of apartments in Turkey, which are their location, proximity and distance from public service facilities in addition to their area,  view and legal status.

procedures taken for the growth of the real estate market in Turkey:

If you look at the statistics, you find that the percentage of foreigners who own real estate in Turkey is increasing at a constant pace due to several factors that have been taken into account to achieve a qualitative breakthrough in the real estate investment field, as follows:

First: The establishment of many real estate projects:

The Turkish state has not only been satisfied with its real estate projects, but has striven to increase the number of many projects. We always see that there are new projects under implementation besides those to be established for the purpose of real estate development that removes the marks of the real estate age . A large amount of them can also be found in new areas, including those that are promising in real estate, such as, but not limited to,  Basaksehir and Beylikduzu. It is certain that these projects will make real estate seekers on a date with what they are looking for. This is in tandem with the fact that Turkey is diverse on the real estate level.

Second- Incentives provided by Turkey to foreigners

Whoever buys a property in Turkey that conforms to the conditions of obtaining Turkish citizenship simply gets it, and the most important of these conditions is that the total financial value of the property has exceeded four hundred thousand US dollars, in addition to the necessity of buying it from a Turkish real estate company or a Turkish seller, the entity must have the nationality of the country.

If you do not have this amount of money, you can get real estate residence permit if the price has reached 75 thousand US dollars and there is no problem if it increases, and one of its benefits is that it gives you a golden opportunity to get permanent residence permit after eight years of renewal.

Third- Abolition of the principle of reciprocity

A few years ago, Turkey issued decisions that provide an opportunity for foreign investors and entrepreneurs to buy real estate in Turkey, which manifests itself under the cancellation of reciprocity. Since then, foreigners of different nationalities have rushed to Turkey in very large quantities, and today their number exceeds thousands or even tens of thousands.

Fourth- Establishment of a number of development projects

In fact, this point is one of the most important concerns of the investor when choosing a place in order to be an incubator for his real estate investment. Turkey has exploited this matter to attract large numbers of investors. Today, it is implementing on the ground many infrastructure projects, the most important of which is the Istanbul Canal, in which the first stone was placed recently, and from those that were opened a while ago in Basaksehir  Medical City in light of the Corona pandemic. This is a clear challenge to all the crises that the Turkish state may face, and there are also a large number of projects that are still on the papers and are expected to be implemented really soon.

To this end, we have reached the end of this article, which was that the relationship between the Turkish economy and the real estate market is strong, and this is one of the first reasons that the Turkish government has taken care of the real estate sector in this way, which explains its real desire to provide facilities and incentives to foreign investors, and there are more  impressive results that this sector will provide in Turkey in the future, which indicates more economic upliftment.

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