Investing in residential real estate in Türkiye 2024
Türkiye offers a diverse selection of residential real estate to suit the needs and preferences of the residents and investors. Whether you are seeking a modern, high-end residence with luxurious amenities or a cozy, budget-friendly space, Türkiye’s real estate market has something for everyone. Therefore, in this article from Ebla Real Estate, we will provide a guide on investing in residential real estate in Türkiye 2024.
Investing in residential real estate in Türkiye 2024:
The great demand for investment in residential real estate in Türkiye in recent years is based on integrated factors and features that make owning a property in 2024 a successful project. Among the most important of these factors, we mention:
The robust economy of Türkiye:
One of the most important features is the strength of the Turkish economy. Türkiye has the 20th largest nominal GDP in the world, and the 11th largest GDP by purchasing power parity. Furthermore, Türkiye’s economy is the seventh largest in Europe. Moreover, Türkiye is a founding member of the Organization for Economic Cooperation and Development and the G-20 major.
The vital location of Türkiye:
Türkiye stands at the geographical crossroads, connecting Europe, the Black Sea region, the Caucasus, Central Asia and the Middle East. Thus, Türkiye is a bridge bringing together East with West and North with South. Furthermore, Türkiye ‘s strategic location enables easy reach to markets across 16 different time zones, from Tokyo to New York. Türkiye also serves as a management hub for several multinational companies.
Developed infrastructure in Türkiye:
One of the reasons that motivates investors to invest in residential real estate anywhere is the availability of the necessary infrastructure and lower transportation costs. Türkiye has a developed infrastructure, as it has:
- Urban transformation projects in most major cities.
- Urban expansion and construction of modern housing complexes.
- Vital service projects such as hospitals, schools and shopping centers.
- Advanced transport networks and roads.
- Three suspension bridges connect the European and Asian shores with the Bosphorus.
- 100 airports, including 22 international airports.
Government support for investments in Türkiye:
The great government support is one of the factors that indicates that the future of real estate investment in Türkiye is safe. The Turkish government provides support in many areas of investment for foreign investors in Türkiye. Moreover, it provides them with facilities, services and features, the most prominent of which are:
- The Turkish government grants foreign investors legal residence in Türkiye.
- It also grants foreign investors Turkish citizenship through investments.
- Foreign investors are entitled to apply for loans from Turkish banks.
- In addition, it provides investors with tax exemptions.
- Ease of transferring money from abroad to Türkiye and vice versa, without legal obstacles and impediments.
Tourism in Türkiye:
It is one of the main reasons that encourage investors to invest in residential real estate in Türkiye. Türkiye, ranked sixth among the largest tourist destinations in the world and the fourth largest tourist destination in Europe. That is because of many factors, including:
- The charming nature of seas, mountains, forests and others.
- Many historical monuments, tourist and recreational facilities.
- Ease of travel.
- Integrated services.
- Low cost of living.
The cost of buying residential real estate in Türkiye is low:
The real estate sector in Türkiye offers very luxurious and modern residential real estate at reasonable prices compared to Europe and neighboring countries. Moreover, most of them have luxurious social facilities such as swimming pool, spa, and gym in addition to smart home technologies.
Low cost of living in Türkiye:
The cost of living in Türkiye is low, as there are many options available to suit all financial capabilities and different tastes. Moreover, there are markets and commercial centers that contain varied products to meet all needs, spread everywhere in Türkiye.
Advantages of investing in residential real estate in Türkiye 2024:
Investing in residential real estate in Türkiye2024 has become a target for many Arab and foreign businessmen. Moreover, investing in residential real estate is one of the best and most successful projects that achieves high financial returns through various options such as renting or reselling them.
In addition, investing in residential real estate in Türkiye 2024 is a successful investment option, as it provides many advantages to investors, including obtaining Turkish citizenship, increasing the value of real estate, the possibility of renting the property, enjoying a high quality of life, and ease of purchasing procedures.
It is worth noting that there are various offers for those wishing to buy residential real estate, including offers to buy a property in installments and others.
The best Turkish cities to invest in residential real estate 2024:
Ankara:
Ankara is the official political capital of the Republic of Türkiye. Moreover, it is the second-most populous city in Türkiye, with a population of more than 5 million. The city of Ankara attracts huge numbers of foreigners and Arabs for purchasing residential real estate in Türkiye.
Istanbul:
Istanbul is Türkiye’s window to the world. Moreover, it is one of Türkiye’s largest and most important cities. Furthermore, Istanbul is Türkiye’s cultural, historical and economic hub. It includes the best vital facilities and service centers. In addition, Istanbul has many options of residential real estate with developed services and charming views.
Bursa:
Bursa, which is a preferred destination for investors, is the fourth largest city in Türkiye and one of the most livable cities in Türkiye. Moreover, it is characterized by the urban transformation and the prosperity of the residential projects. In addition, it includes many historical and tourist attractions.
Antalya:
Antalya has become a preferred destination for living and stability for many. The real estate market in Antalya has witnessed a great boom in the past five years. It has become a preferred investment destination for investing in residential real estate.
Trabzon:
It is one of the most prominent tourist and historical cities in Türkiye, located in the northeast of the country on the Black Sea coast. It has various charming landscapes. Moreover, it is a destination for tourists and investors. The investment value of residential real estate in Trabzon is constantly increasing.
Edited by: Ebla Group Real Estate
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