Turkey is one of the countries where International Investors make the most investments in the field of real estate, ranking 4th after the USA, Brazil, and the UK. Turkey draws an increasing interest as one of the most attractive investment regions when it comes to the international real estate sector. Among the main reasons behind this interest are Turkey’s special position in the world, its beauty gaining more recognition with each passing day, its attraction in terms of economical and human affairs, its integration with the global economy, the ease brought by new regulations and arrangements, and the fact that its relations with the European Union are getting closer.
All Middle Eastern countries, Saudi Arabia in particular, as well as Ireland, Denmark, Norway, Sweden, Holland, Belgium, Germany, and the UK are among the main countries making real estate investments in Turkey. There is a considerable number of foreign investors who own properties on Turkey’s southern coasts, as well as its Marmara and Black Sea regions. Among the most popular cities are Istanbul, Antalya, Kocaeli, Trabzon, Izmir, and Bursa, while towns such as Alanya, Fethiye, Didim, Bodrum, and Kuşadası are also in high demand.
Turkey is now the new favorite of Arab countries
After the ‘Reciprocity Law’ was enacted, there has been a great increase in the foreigners purchasing real estate in Turkey. According to a ministry report prepared based on foreign nationals only, 55 foreign country nationals have purchased immovables in Turkey.
Among the countries showing a gradually increasing interest in Turkey are Saudi Arabia and other Middle Eastern countries. People of Arabic-origin purchased 10,000 houses from January-October 2015, according to official figures from the Turkish Statistical Institute. And this figure is expected to reach 13,000 by the end of the year.
But why Turkey in particular?
As a result of research among investors purchasing properties in Turkey, the main answers to this question can be listed as follows:
– Strong economy
– Central position
– An investment environment that is liberal and open to novelties
– Tax and incentive advantages
– Large domestic market