The real estate industry has been booming all around the globe lately with its’ global market size having grown from $8.5 trillion to $8.9 trillion, which is a whopping 4.7%. People with accumulated wealth are also eyeing at international real-estate markets to have a change in location and lifestyle. Turkey happens to be one of the hot spots for that attention. Already being one of the most popular travels and tourism destinations in the world, Turkey is also becoming one of the favorite real-estate investment destinations as well. The year 2017 observed a rather handsome 22.2% FDI growth in the Turkish real estate market, out of whom, 44% of the foreign investors hail from Europe. That trend still continues today with no signs of slowing down in sight. The reasons for the rapid inflow of foreign real estate investors are as follows:
- A Generous Offer by the Government – A recent policy update has been announced by the Turkish government whereby they shall be granting a residential permits to the people who are willing to invest more than $45,000 in the Turkish real estate and are willing to grant Turkish Citizenship to those who invest up to $250,000 in the Turkish Real-Estate.
- Constant Growth in Property Market – As per Knight Frank’s Global House Price Index, Turkish real-estate Market came in at the 6th spot out of 56 markets in terms of price growth in 2017, with the rate of around 10% year on year growth continuing since the past couple of years. This implies that the investment in the Turkish Real-Estate guarantees a healthy increase on the Year-on-Year Return on Investment (ROI).
- Economy – Across the board, Turkey has a solid economy that is consistently growing with no signs of slowing down. Turkey is also among the top 5 fastest growing economies out of all G20 countries. This would give all the more reason to the expatriates for investing in the Turkish Real-Estate Market as it is a guaranteed lucrative investment.
- Potential For Growth – Despite that radical incline in the Turkish Real-Estate Market Development, it is still ranked below average in terms of leasable space/land per person in comparison with its European counterparts. This implies that there is still loads of potential for growth in the Turkish Real-Estate Market. Therefore, out of all real-estate investment destinations in the world, Turkey is quite possibly the most favorable option.
Finally, we must discuss the liveability. Although Turkey is yet to be recognised as THE most desirable place to live, it is still among the best places to live that anyone can ask for. Complete with rich culture, hospitable environment, scenic locations and perfect climatic conditions, Turkey is certainly among the best places in terms of liveability. And for a foreign investor, having a property in Turkey shouldn’t be the end goal, rather one should also enjoy the privilege of living a privileged life by opting to Settle in Turkey.