Turkey is an emerging nation with an incredibly diverse wealth of real estate related investment opportunities.
Turkey has a very young population which is driving local demand for real estate which currently cannot be met, it has foreign direct investment which is increasing at record highs which is driving up the demand for commercial space and also boosting power buy local, which allows for growth in terms of property prices, it has a rapidly expanding tourism industry with almost immeasurable margin for further expansion proving that there is demand for short rental property term as well as holiday homes for sale and furthermore the nation is politically aligning itself with the governments of East and West proving that Turkey in the in the very near future could become one of the nations strategically most important in the world.
In terms of local demand, an investor could enter the real estate market focusing only on this target group. Half of the country’s population is under 25, most live in Istanbul, Ankara, Izmir, Konya, Bursa, Adana, Antalya and Mersin, real estate in these cities is scarce but investment is flowing inward, creating jobs that create more inward migration from the countryside of individuals looking for work, which creates the ultimate environment for an investor where demand is increasing, the real estate units available are not sufficient to meet on demand driving prices up and locals gaining purchasing power through higher paying jobs suggesting they can afford real estate price gains and thus an investor buying into the market residential real estate in 2007 could reap substantial returns and benefit from healthy capital gains.
As noted, foreign direct investment is flowing freely into Turkey now that the government has done all it can to attract it and nowhere is the evidence of FDI more evident than in the real estate market. Massive investments are coming from Europe and the Middle East in huge residential and commercial projects creating jobs and boosting the local economy. FDI is also holding back the travel and tourism industry which is underfunded by the government and has historically relied heavily on the private sector. Investors are aware that Turkey’s vast area as well as its cultural and geographical diversity means that it can expand its tourism market many times over. Currently, there is really only a summer vacation market, but efforts are in place to make Turkey a business travel destination, a winter vacation hotspot and a cultural tourism destination. , ecological and adventure.
Already, the number of tourists is increasing every year and many of these holidaymakers are also buying properties along the coast in Turkey, creating a tiered market for an investor, from high-yield short-term rentals to property construction. for the retirement or funded second home market. by wealthy Europeans.
The last factor that reinforces the attractiveness of Turkish real estate as an investment product is the fact that politically, Turkey is developing increasingly strong international relations. On the one hand, Turkey is getting closer to joining the EU and, to this end, the Turkish authorities have certainly done and continue to do all they can to align policies and decisions with those that are acceptable to the EU, and if entry into the EU takes place, foreign investment will soar even further. On the other hand, Turkey already has an excellent reputation with NATO, it already has good export levels in place with Europe and now it is aligning itself more and more with the nations in the is its borders.
In 2006, Turkey and the United Arab Emirates cemented political and economic ties of friendship and Turkey remains an ally of many countries in Asia, it is a Muslim country without any shadow of fundamentalism hanging over it, which which means he is a friend of western countries from the US to the UK and as he shares cultural and religious understanding with many Asian and Arab nations he is also a friend of countries east of that which means it is incredibly well placed strategically to serve as a bridge between Eastern and Western understanding.
As you can see, all factors point favorably to Turkey’s continued attractiveness as a place to live, vacation, work, trade and invest and therefore 2007 is likely to be an important year in terms of levels of investment in real estate by investors.