Buying Property in Turkey in 2023 - the Most Profitable Investment
In Turkey, a record number of real estate properties were sold in 2022. This record includes both local residents and foreigners who have also purchased an unprecedented amount of apartments, villas, land plots, and commercial properties in the country. This year, from the very beginning, real estate sales have remained at a high level, despite the rising prices.
What attracts foreigners to Turkey and why is buying real estate currently the most profitable investment instrument?
Economic stability and clear government stance
Despite the challenging economic conditions, the Republic of Turkey ended 2022 on a strong note. Exports reached record levels, all industries are thriving, and various sectors have shown consistent growth throughout the year. The tourism industry has fully recovered, and the agricultural sector has achieved remarkable results. Additionally, Turkey has implemented numerous landmark projects, including the opening of new highways and airports and the construction of large-scale infrastructure. The standard of living is rising, and the government regularly implements new projects. One of the significant initiatives was the campaign for the construction and sale of affordable housing, which will benefit tens of thousands of families this year. The Turkish authorities adhere to clear positions in both domestic and foreign policies. They prioritize the interests of their own country while diplomatically engaging on the international stage. All of these factors attract foreign investors. Purchasing real estate in a country with clear plans for the future, a thriving economy, and an increasing global presence is not only safe but also profitable and reliable.
Reliability of transactions
The system for selling real estate to foreigners in Turkey has been fine-tuned to perfection. There are no unfinished or long-delayed construction projects, and all transactions are transparent and subject to legal scrutiny. The state carefully controls the process of issuing property ownership documents. The assurance that money will not be wasted and the guarantee of high-quality and comfortable housing are essential factors for foreigners buying property in another country.
Social infrastructure
Turkey has a highly developed social infrastructure, including healthcare and education systems, as well as welfare programs. All of these services are of the highest standard, making the country a comfortable place to live for both children and adults, regardless of their income level or profession. The opportunity to receive quality education and healthcare is an essential consideration for many when purchasing real estate. By owning property in Turkey, foreigners gain access to residence permits or citizenship, insurance coverage, and the ability to avail services on more favorable terms compared to tourists.
Preservation and growth of capital
Inflation is a significant problem worldwide, affecting countries across Europe, America, and the Commonwealth of Independent States (CIS). Many people are concerned about preserving their capital and preventing its depreciation. Keeping money in banks, buying foreign currencies, or storing cash under the mattress are all risky schemes in the modern reality. However, investing in real estate is an excellent way to preserve savings. Real estate can be sold if funds are urgently needed, and the sale price is often higher than the initial purchase price. Property can also be rented out, providing excellent passive income. In Turkey, rental prices have also increased multiple times over the past year. Lastly, having your own seaside apartment offers the opportunity to live in Turkey for an extended period. Real estate can be passed down to children or used to accommodate elderly parents. Owning property solves numerous issues, which is the main reason for buying real estate in Turkey. Foreigners are actively taking advantage of this opportunity, fully aware that it is a wonderful way to safeguard their savings.
We will find a perfect investment property for you in Turkey. We will handle all the necessary paperwork and assist with your adaptation to our beautiful, friendly, and hospitable country. Buying real estate in Turkey in 2023 means investing in your future and the future of your children, with a precise guarantee of receiving numerous benefits from such a transaction!
