Real Estate Growth Sector Analysis in 2021-2022
Turkey is a desirable location for real estate investment. Investors from all around the world are drawn to high-valued profitable estate and well-developed tourism. Foreigners who are fascinated by the country opt to settle in Turkey and build their own home. Every year, numbers on population growth as a result of migration increase. With increasing industrial output, the Turkish real estate market offers numerous prospects. Knight Frank’s Global House Price Index released an overview, which tracks the performance of 56 major national property markets worldwide, the average price across 56 countries grew 7.3 percent in the year to March 2021, up from 4.4 percent in the previous year. Knight Frank also stated that the Turkish real estate sector experienced the greatest rate of annual price growth in the year, amounting to 32% in Q1 2021.
Starting from January to August of 2021, there were 151 thousand 221 house sales in Istanbul. Only 30 thousand 849 are owned by foreign investors. Furthermore, relying on TurkStat statistic Turkey is one of only a few countries in the world that has avoided a massive contraction owing to pandemics. While the Turkish lira has lost over 8.8 percent of its value against the US dollar, currency depreciation means that the Turkish real estate market is particularly appealing to foreigners due to its low prices. Turkey attracted attention immediately following the Covid-19 restrictions due to the Turkish government’s correct approach and aid to all individuals. Equal treatment of global and national investors, as guaranteed by law, as well as a high- quality lifestyle, are attracting an increasing number of foreigners.
Successful Infrastructure Development of Turkey
Turkey’s economy has been one of the fastest-growing in Europe, with an average annual GDP growth rate of 5.1 percent over the last 18 years. The Turkish economy, at the center of the Belt and Road Initiative (BRI), fosters a business-friendly environment for investors. Being the world’s 11th largest economy in 2020 and 13th in 2019 demonstrates strong GDP growth. The Free Trade Agreement between 28 countries improves access to the most resources. This economy tries to put additional options in the hands of investors who wish to generate profitable outcomes.
Serving as a bridge between East and West, Turkey connects numerous markets, with a GDP of USD 25.55 trillion and a population of 1.3 billion people. The volume of Turkish foreign trade climbed from USD 88 billion in 2002 to USD 389 billion in 2020. People have flocked to urban centers such as Istanbul, Ankara, and Izmir as the Turkish economy has grown.
Turkey’s strategic location entices global corporations to increase their export investments. In 2002, there were just nine export products worth more than one billion dollars; by 2020, there were thirty-nine. Turkish Airlines connects people from all over the world. Visitors from Turkey’s most promising economic market can travel Europe, the Middle East, and Central Asia. Investment in the Turkish real estate industry creates numerous opportunities to build healthy, robust, and profitable business relationships with the other 127 countries.
Benefits of Investment in Turkish Real Estate Sector
The Turkish government implemented various measures that make it easier for foreign investors to become citizens of Turkey. Purchases of more than USD 250 thousand can assist in obtaining a Turkey Investment Visa within three months. In this instance, the investor’s family members have the right to obtain Turkish citizenship as well. During a visit, this residency permit allows to make any kind of investment. Many immigrants buy multiple residences. While living in one, they rent out the other and make a decent profit from it. A renowned and dependable real estate agency, such as CCT Investments, can assist everyone in correctly forming documents in order to make wonderful dreams come true.
In addition, an investor can obtain high-quality medical care through insurance coverage. Over the last 17 years, the healthcare budget has grown from TRY 19 billion to TRY 190 billion. Municipal kindergartens and schools provide free education to children. Permanent residence allows investors to use the credit system and mortgage. It is feasible to live in Turkey while earning a consistent rental income by owning many houses. Having property in a beautiful country with a good environment allows investors to stay legally in the country and enjoy a high-quality lifestyle.
Where to Purchase a Property in Turkey?
CCT Investments works in the real estate business throughout Turkey. The greatest places to buy a home are metropolises like Istanbul, Ankara, Izmir, Bursa and resorts like Yalova, Trabzon, Antalya, Bodrum, Fethiye. People are resting, developing businesses, working, and studying there, which making it a better area to live a high-quality lifestyle. In Turkey, there is a house or apartment to suit any taste. As experience has shown, it is far easier to determine real estate that is appealing as an investment. As a result, every year, new and intriguing projects emerge in Turkey’s resort and tourist cities. And the most important thing right now is not to overlook the dynamic apartments, which are being picked up fast by both domestic and foreign investors.
Wherever real estate is purchased, it will undoubtedly bring not just profit, but will also add colour to one’s life. Living in Turkey offers not only excellent economic chances but also the chance to begin living in comfort and safety.