A boom in the future of the Turkish real estate market 2024
The future of the real estate market in Turkey has a promising future, as the Turkish real estate market is today one of the strongest and best markets in the world.
The movement of different civilizations and cultures in Turkey and attracting foreigners to invest
The Turkish real estate market today is one of the strongest and best markets around the world, and this is due to the diversity of its opportunities and profitable returns. Despite the fluctuation of the Turkish lira against the US dollar, Turkey will be on the verge of a boom in the market due to:
- Always available opportunities in Turkey
- Incentive laws in effect in 2022
- Real estate residence
How does the movement of different civilizations and cultures in Turkey help attract foreign investors?
The Turkish government has provided many legal and investment facilities, including discounts and tax exemptions, to foreigners in the real estate market, and Turkey has become a market that attracts and embraces the ideas of many investors to build various successful business projects.
One of the contributing factors to this is the diversity of cultural backgrounds and the spread of Arab and other communities in most cities of Turkey, especially in Istanbul, where it helped in stability and investment or even in both directions together, and accordingly the Turkish government wanted to provide a successful investment environment, and made Turkey an ideal choice for successful investment .
According to statistics in 2021, apartments had the largest share of sales in the real estate market, reaching nearly three million properties, and the purchase shares were distributed between Iranian and Arab foreigners 6552, which confirms that the demand is still high for real estate, especially with the plan. The new economic plan of the Turkish government in 2022.
Permanently available opportunities in the Turkish real estate market
Contracting companies are still building many complexes and apartments, and this has made Turkey a country rich in diverse opportunities and provides various options for the investor, and the willingness to buy and excellence that other parties do not provide.
Incentive laws in force in Turkey in 2022
- The Turkish state’s incentive strategy is one of the most important factors that attract foreign capital to Turkey.
- The Turkish economy has several solid foundations and institutional foundations as well.
- Foreign investment in Turkey occupies an important place in the Turkish economy. For this reason, the Turkish government provided the Turkish real estate market with many encouraging incentives to invest in the past periods, and the most important of these incentives are:
Turkish Citizenship There are many ways to obtain Turkish citizenship, including:
- Deposit an amount of 500 thousand dollars in a Turkish bank for a certain period
- Or buying a property or more with a value of 400 thousand dollars, without selling it before 3 years of buying it, and the investor also obtains Turkish citizenship and a Turkish passport, whose advantages are allowing entry to 121 countries without a visa, and holding two different nationalities, in addition to that. The right to medical care and free education for the family for life.
Real estate residence in Turkey
The foreign investor has the right to obtain real estate residency after purchasing an apartment or any property in Turkey, and the period starts from 6 months to 3 years, renewable with proof of the existence of a title deed or the so-called “Tabu” during the interview, regardless of the price of the property.
What is the future of the Turkish real estate market 2024
The year 2024 is important for the Turkish Republic, as this year coincides with the centenary of the founding of the Turkish Republic from 1923-2024. From the beginning of the third millennium, the Turkish government has worked on dozens of vital projects that are on the way to be ready in the next 2024, some of which are already ready and part of These projects will be ready in the coming months.
Vital projects in Turkey in 2024
The first of these projects is Istanbul International Airport, which will be one of the largest airports in the world in terms of the number of passengers, with a full capacity of about 250 million passengers annually,
- Eurasia Tunnel Project This project was opened in 2016 and the Eurasia Tunnel won the award for the best tunnel in the world. The project linked the European and Asian banks of Istanbul from under the waters of the Marmara Sea with very high engineering techniques.
- Istanbul Water Canal Project This project is considered the largest in Turkey and this project is still in its infancy, as it began excavation work in June of the year 2021 and is expected to be completed in 2027, according to the statements of Turkish President Recep Tayyip Erdogan. Real estate prices in the surrounding areas.
- Istanbul International Finance Center is one of Turkey’s most important projects within its vision for the year 2024 and will open its doors in the middle of the current 2022, according to experts, this center will be the capital of finance in the world and a link between East and West, and between Europe and Asia,
- In addition to many other projects, such as the largest medical city in Europe and the third in the world in terms of diversity of specialties, the North Marmara Highway, Çanakkale Bridge and many other projects.
The relationship of real estate investment in Turkey in 2022 with the future of the real estate market in Turkey 2024
The year 2021 and the rise in real estate prices during it was nothing but a simple reveal of what real estate prices will become and the future of the Turkish real estate market 2024 in this year 2022. To achieve the highest investment return, you must accelerate investment during the current year 2022, as the investment value of real estate in Turkey will achieve its highest values. Next year, 2024, and that the property, whose price does not exceed one million liras this year, may double and reach two million liras next year and perhaps more, due to the approaching centenary of the founding of the Turkish Republic, and Turkey seeks to enter the club of the top ten economically in the world, knowing that its current ranking It ranges between 16 and 18 out of the G20.
Real estate prices between 2015 and 2022
The future of the Turkish real estate market 2024
- According to statistics, numbers and expectations, the Turkish real estate market and real estate investment in Turkey will be full in 2024 and 2022 is only a last stop before real estate investment in Turkey reaches its peak of glory. Investing today and buying a property in Turkey will certainly earn tomorrow without a doubt.
- At a time when the Turkish lira lost nearly 500% of its value, real estate prices rose between 700 and 900%, that is, the property purchased in 2015 increased in price from 4 times to 5 times in 2022.
Despite the many difficulties and obstacles encountered by Turkey, Turkey is still on its way to achieving its goals and for the future of the Turkish real estate market 2024.
The figures of Turkish real estate exports have exceeded 225 million dollars, and Turkish real estate sales to foreigners are the highest since the Turkish Parliament approved the citizens of 183 foreign countries to invest and own property in Turkey and amounted to more than 58 million properties after it was about 12 thousand properties in 2012.
Indicators of growth, industry, production, employment, and a decline in unemployment rates in Turkey, all of these statistics indicators have proven that Turkey will not be hindered from achieving its goals, and it will begin to prosper more between 2022 and 2024.