How To Buy The Right Investment Property In Turkey?
Turkish real estate sales to foreigners that were completed increased by 46% in 2015 to $3.1 billion and by an astounding 63% in 2016 to a total of $4.6 billion! (more than Spain and Portugal combined) demonstrates unequivocally that investing in real estate in Turkey is secure even without EU membership. Everyone in Turkey remains optimistic about Turkey’s eventual EU membership, but even before membership, Turkey has already emerged as a hotspot for international real estate due to its easy property acquisition, ongoing price increases, and low taxes.
In 2014, Antalya had 61.838 foreign-owned properties, Istanbul had a surprisingly low 25.812 foreign-owned properties, Mugla (the location of Bodrum) had 30.769, Aydin (Didim, Akbuk, and Altinkum) had 14.116, and Izmir had 5.533 foreign-owned properties.
Facts And Figures For Turkish Property Investors:
As a result, House prices are expected to rise even more in 2018, making now an excellent time to invest. It is impossible to predict the exact return on your investment, but recent reports from various sources agree that it will be high. For instance:
According to DHA Press, property prices along Turkey’s Mediterranean and Aegean coasts increased by more than 52% in the last year.
According to National Statistics Institute research, Turkey’s immigrant and population will increase by up to 5.5 million by 2018, accounting for approximately 13% of the country’s population, up from 11% in 2015. Rising property demand will continue to fuel the property market’s expansion.
According to Turkey’s Ministry of Development, the average increase in Turkish real estate prices in the fourth quarter of 2016 compared to the same period in 2015.
Antalya was named the “top state” in Turkey for population growth last year, with approximately 50.000 people moving there each year. It even overtakes Istanbul with an 18% growth rate.
