Turkey has had an important place on the global real estate market’s map for the past decade, and continues to attract the attention of many investors from all around the world, so that the real estate market of Turkey today becomes one of the most important and strongest real estate markets in the world.
The demand drivers of the Turkish real estate sector such as the country’s “crossroads” geographical location, urban renewal and development projects, strength in the construction sector and demographic advantage continue to support the Turkish real estate market. The Turkish real estate market, office and commercial property have outperformed over the past ten years. Indeed the rental yields and selling prices for retail and residential prices have been continuing to grow since
In the future, primary commercial properties in central areas are likely to attract investor interest. Real estate is one of the most significant drivers of the Turkish economy and will continue to be in future. Currently the real estate sector in Turkey represents 19.5% of the gross domestic product, which brings Significant investment potential for the sector.
The developments and amendments made by the Turkish government to real estate ownership laws in Turkey, especially for foreigners, have contributed to increasing demand for buying properties and apartments in various Turkish cities, foremost of which is the city of Istanbul, the country’s economic capital.
With regard to the important facts and figures related to the current situation of the Turkish real estate market and about the situation, strategic plans, the developed structural projects and the future projects that are under preparation or construction, the real estate sector in Turkey holds tremendous potential for investors.
Where statistics show that in the first half of the year, the real estate market witnessed a large increase in property sales to foreigners in Turkey by a large percentage as the increase in the rates of purchases of apartments in Istanbul alone increased by more than 50% compared to In the two years that preceded it. Therefore, the Turkish real estate market will continue to grow to attract more and more investors.