The real estate market in Turkey today is one of the fastest growing in the world - and provides international investors with interesting opportunities for generating income. Consider which market sectors will allow you to invest as profitably as possible, and what features should be considered when buying.
The Turkish real estate market has almost completely recovered from the crisis, and Istanbul is now a real point of attraction for foreign investors who want to profitably invest their capital, along with other major cities in Turkey, such as Antalya and Alanya.
Prices. For several years, real estate prices in Istanbul did not decrease, which could not fail to attract investors looking for cost-effective investment options.
Today, the cost of real estate in Istanbul is almost at an ideal level for investment: € 1975 per square meter.
The real estate market in Turkey in 2018 showed a transition from a zone of weak recovery to the active phase. And if the first half of the year could still be called a rehabilitation period in the resumption of market growth, when people finally realized that relations between the two countries had become stronger and more friendly, that it was safe for a foreigner to be in Turkey, the situation inside the country was stable, and real estate was still under construction and there are more and more attractive residential complexes.
August 2018 was marked by the fall of the Turkish lira, which in some periods lost 30% of its value, as a result of announced US economic sanctions against Turkey. At this moment, the real estate market among local buyers has practically subsided, while among foreigners the most active period of purchases has begun.
Currency holders, who previously could afford the most modest options for Turkish real estate, were now able to become owners of higher-class housing, and those who could not afford anything at all, got the opportunity to budget objects thanks to a cheap lira. Of course, not all real estate was nominated in Turkish currency: in such regions of foreign "consumption" as Antalya, Alanya and Istanbul, many objects were built and continue to be built, where the initial cost is indicated in dollars or euros.
2018 was the starting year in the resumption of demand for real estate not only for buyers from Russia and the CIS, but also for the European and Arab markets - which is probably due to the general unstable situation in the world, because people besides the sun and sea also want to have a backup option for moving, where they ask about the origin of each cent, high taxes are not required and high-quality real estate is provided at an affordable price.
The next 2019 year met the expectations of both the tourism sector and the real estate sector: experts characterized this year as a period of active sales, the indicators of which achieved good results.
According to the latest data of the Statistical Organization of the Republic of Turkey (TÜİK), in 2019 the volume of real estate sales among foreigners increased by 14.7% compared with the figures a year ago. Total sales rose to 43,483 units of real estate.
Investments in Istanbul: statistics and prospects
Statistics are also showing growing interest in Istanbul as a destination for investment. So, in the second quarter of 2019, this region became the leader of Turkey in terms of growth in foreign investment. Istanbul opens up great prospects for doing business.
In addition to the investment promotion factors listed above, Istanbul offers several indisputable advantages: strategic location, excellent climate, fast-growing economy, high competition, excellent business prospects, well-developed infrastructure and transport links, rich cultural and historical heritage, etc.
So, everything indicates that Istanbul is currently one of the best areas for investment in Turkey, including real estate, especially if the investment budget is not very large.
You will find a large offer of real estate for investment in Istanbul and other cities in Turkey in our catalog.
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