Property Investment In Istanbul,Turkey
Turkey is one of the best real estate markets. 2017-2022: 8.3 million residential properties were sold across Turkey. 2017-2022: 189,000 residential properties were sold to foreign investors in Turkey. A good office of 5.6 million m2 was built in Istanbul in 2022. There are 13.6 million m2 of rental space in malls across Turkey in 2022.
Real Estate Investment In Turkey
Turkey is one of the best real estate markets.
Turkey’s location is at the crossroads of Europe, the Middle East, and Central Asia. The construction sector is constantly growing in Turkey, combined with commercial and industrial development, providing great opportunities for real estate investors.
Urban transformation and construction megaprojects based in Istanbul are the visible future of the real estate. Some of the city’s projects include Eurasia Tunnel, Yavuz Sultan Selim Bridge, Marmaray, and Istanbul Airport. Istanbul Airport – Real Estate Investment In Turkey
The urban renewal and development plan will cover 7.5 million residential units. With a large contribution from the private sector, the company’s budget is 400 billion dollars. Real Estate Investment In Turkey
The number of houses sold in the Turkish real estate market reached 1.5 million; Similarly, with the abolition of the reciprocity law in 2012, real estate and foreign businesses began to increase. 40,812 houses were sold to foreigners in Turkey. Istanbul ranked first with 19,175 house sales in 2022, followed by Antalya with 7,735 house sales, Ankara with 2,746 house sales, and Bursa with 1,340 house sales.
Real Estate Investment In Turkey
In 2021, the current class A office stock in Istanbul exceeds 5.6 million square meters. More than 1.7 million square meters of buildings under construction, including the Istanbul International Financial Center (IIFC), are expected to reach 7.4 million square meters of gross rental space by the end of 2022. Istanbul International Financial Center
Across Turkey, 447 shopping centers with 13.6 million m2 gross leasable area are in operation. The 130 shopping centers in Istanbul have a total area of 5.1 million m2 representing 37% of the shopping malls with rental areas in Turkey.
The total logistics real estate in Kocaeli and Istanbul in 2021 is 10.2 million m2. In 2020, 318,000 m2 of logistics rental transactions were made, which is almost three times compared to the end of 2019.
Residential property prices across Turkey increased by 30.6% until the first quarter of 2021. M2 is 4,054 TL (USD 502).
Turkey’s investment is supported by domestic demand and offers good opportunities for foreign investors.
Property Investment In Turkey
Home sales increased by 11.5% across Turkey and especially in Istanbul. In Ankara, there was an increase of 18.6%. All real estate prices in Turkey are very attractive and the fast and profitable returns on real estate investments continue to attract many investors.
This year, it is expected that the real estate market in Turkey will grow and increase. Growing investor satisfaction with returns is accelerating market movement. Lux real estate, residences, apartments, and some mansions are offered for sale.
Best Choices to Invest for Foreign Investors
Some businessmen choose the Aegean and Mediterranean seas as they want to live by the sea. Many Russian and German investors want the Antalya region. Many British chose Aegean, Week, buy everything in the area. Some hunters choose Istanbul, which is a large business. Istanbul is a city where houses are often sold to foreigners. They prefer companies with common areas, large land, work, and buildings where social activities and entertainment are more intense. One of the reasons for the interest of real estate investors is that they have the option of paying the conditions that are suitable for work. The return on investment is impressive.
