The world has seen some daunting situations last few years, but Türkiye is one country that has seen good and continuous growth. Türkiye’s booming real estate market has experienced tremendous growth in recent years, making it one of the most dynamic and promising markets in the world at present. Its strategic location, political stability, economic growth, and cultural diversity makes it an attractive destination for investors seeking high returns and diversification. Let’s discuss some key factors that have driven the country’s growth in the properties market.
Factors driving the growth
- One of the factors driving Türkiye’s real estate boom is its growing population and urbanization.
Türkiye has a population of over 83 million people, with about 77% living in urban areas. This trend is expected to continue in the coming years, fueling the demand for real estate properties across the country. The country’s population is expected to reach 100 million by 2050, according to the United Nations. The growing population and urbanization in Türkiye have also resulted in a shift in housing preferences. With more people moving to urban areas, the demand for high-density housing such as apartments, condominiums, and townhouses has increased. Developers have been quick to respond to this demand, building high-rise buildings and other high-density housing units across the country. In addition to high-density housing, there has also been an increase in demand for affordable housing units, particularly among young people and low-income earners. This has led to high demand of 1+1 offerings (1 bedroom, 1 lounge). - Another factor is the government’s support for the real estate industry.
Türkiye has introduced a range of policies and incentives to encourage investment in the sector, particularly in the tourism and hospitality industries. For example, the government offers tax breaks, subsidies, and other financial incentives to investors who invest in designated tourism zones and infrastructure projects. - The Citizenship by Investment program, which grants foreign investors citizenship in Türkiye in exchange for a minimum investment of $400,000 in real estate (previously $250,000/- and updated to $400,000 few months back), has also contributed to the growth of the real estate industry. This program has attracted investors from the Middle East, Europe, and Russia, who have invested heavily in the country’s luxury real estate sector.
- The pandemic also had a significant impact on Türkiye’s real estate industry.
Although the industry initially slowed down in the first half of 2020, it quickly recovered in the second half as people sought to invest in real estate properties due to uncertainties in other investment avenues. The pandemic also resulted in a shift in preferences, with more people seeking properties with outdoor spaces and home offices.
Gorgeous provinces, cities, districts
Türkiye has been blessed with diverse provinces that offer unique investment opportunities in the real estate market. Each province has its own set of characteristics, such as cultural heritage, natural resources, and economic activities, that make it an attractive destination for real estate investment. Let me share some of the top provinces for property investments. (and yes, they are actually provinces of Türkiye and not cities as I had believed most of my life)
- Istanbul is Türkiye’s largest city and a primary hub for real estate investment. The city’s strategic location, rich history, and bustling economy make it a popular destination for both tourists and investors alike. Istanbul’s central locations, such as Beşiktaş, Kadıköy, and Şişli, are particularly attractive to investors due to their high rental yields and capital appreciation potential.
- Antalya is a coastal city located in the Mediterranean region and is known for its natural beauty and tourism industry. The city has a diverse range of properties, from luxury villas to affordable apartments, making it an attractive destination for both high-end and mid-range investors.
- Izmir is a city located in the Aegean region and is Türkiye’s third-largest city. The city’s diverse economy, rich history, and cultural heritage make it an attractive destination for real estate investment. The city has a range of properties, including apartments, villas, and commercial spaces, making it an ideal location for both residential and commercial investment.
- Bursa is a city located in the Marmara region and is known for its rich cultural heritage and natural beauty. The city has a range of properties, from historical houses to modern apartments, making it an attractive destination for real estate investment. Bursa is also home to a growing industrial sector, making it an ideal location for commercial investment.
- Ankara is Türkiye’s capital and is a hub for government, education, and culture. The city has a range of properties, from luxury apartments to affordable housing units, making it an attractive destination for both high-end and mid-range investors. Ankara’s diverse economy, which includes the defense industry and technology sector, also makes it an ideal location for commercial investment.
- Adana is a city located in the Mediterranean region and is known for its agriculture, industry, and cultural heritage. The city has a range of properties, from modern apartments to historical houses, making it an attractive destination for real estate investment. Adana’s growing industrial sector, which includes the automotive and textile industries, also makes it an ideal location for commercial investment.
From coastal cities to historical towns and bustling cities, Türkiye’s real estate market has something to offer for everyone. Investors should conduct due diligence and work with reputable real estate agents to ensure that their investments are secure and profitable.
Take the First Step Towards Investing in Türkiye
If you are seeking citizenship by investment, or want to invest in Türkiye’s real estate market, or just want more information about it, then simply reach out to me and we can discuss the next steps.
Take that first step and send me a query. I will be happy to provide insights into the local economy, market trends, and the latest regulatory updates that will help you make informed decision. My local highly experienced real-estate partners are also available to answer any questions that you may have regarding your investments.
End Words
In conclusion, Türkiye’s real estate industry is booming, making it an attractive destination for investors seeking high returns and diversification. The country’s strategic location, growing economy, and supportive government policies make it an ideal destination for investment. However, investors should conduct due diligence and work with reputable real estate agents to ensure that their investments are secure and profitable. That’s where sourcing specialists and experienced advisors come to assist.