Turkey has an important place on the global real estate market’s map for the past decade, and continue to attract the attention of many investors from all around the world so that the real estate market of Turkey today becomes one of the most important and strongest real estate markets in the world.
The demand drivers of the Turkish real estate sector such, as the country’s “crossroads” geographical location, urban renewal and development projects, strength in the construction sector, and demographic advantage continue to support the Turkish real estate market. The Turkish real estate market, office, and commercial property have outperformed over the past ten years. Indeed the rental yields and selling prices for retail and residential prices have been continuing to grow since.
In the future, primary commercial properties in central areas are likely to attract investor interest. Real estate is one of the most significant drivers of the Turkish economy and will continue to be in the future. Currently, the real estate sector in Turkey represents 19.5% of the gross domestic product, which brings Significant investment potential for the sector.
The developments and amendments made by the Turkish government to real estate ownership laws in Turkey, especially for foreigners, have contributed to increasing demand for buying properties and apartments in various Turkish cities, foremost of which is the city of Istanbul, the country's economic capital.
With regard to the important facts and figures related to the current situation of the Turkish real estate market and about the situation, strategic plans, the developed structural projects, and the future projects that are under preparation or construction, the real estate sector in Turkey holds tremendous potential for investors.
Last Updated: 11/23/2020 1:29:33 PM
Where statistics for the past year show that in the first half of the year the real estate market witnessed a large increase in property sales to foreigners in Turkey by a large percentage and 2019 can be considered a golden year for the Turkish market as the increase in the rates of purchases of apartments in Istanbul alone increased by more than 50% compared to In the two years that preceded it, but the sales realized in the sector during the pandemic were very surprising to prove that the Turkish real estate market will continue to grow to attract more and more investors.