The Turkish real estate market in 2021 continues to be one of the most lucrative sectors in the country. Turkish property for sale is vital in the economic markets in the country, and it continues to expand, attracting investors from all over the world. Tourism in Turkey plus travelling around the resorts are huge in Turkey, and as a result, international transactions in the Turkish real estate market are also popular. Property in Turkey continues to sell due to high demand and it’s flourishing.
Turkey’s real estate market
Apartments are the most widely purchased property purchase for Arab buyers. Apartments boast the option of renting or selling them while their price is high, in addition to being on holiday. Buyers usually purchase Turkish flats that are off-plan in significant housing developments, intending to sell for a profit of 25% or more.
Turkish villas are profitable property purchasers as they could be used as bases for small businesses, pre-school nurseries, or clinics. Villas in popular locations can be rented or converted into restaurants or cafes that attract global visitors.
Shops and commercial spaces
There are numerous shopping malls in Turkey with offices and shops that are for sale. They represent superb prospects for commercial use. The tourism sector in Turkey has commercial offices throughout the main resorts and especially in Istanbul.
Huge corporations, numerous hospitals and medical clinics, plus large schools and educational centres are built in vast buildings.
International schools and academies
Turkish schools, particularly in Istanbul, are a great construction investment concept.
What is the best way to invest in Turkish property?
Residential real estate investment
It is critical to select a location that is close to archaeological or tourist attractions, shopping malls, or public transport lines. The apartment can be furnished for rent with all the necessary furnishings. The monthly cost would be substantially more significant, and crucial areas like owning apartments near colleges in Istanbul might be exploited, insuring international students who need to rent an apartment.
Buying off-plan flats
You can purchase a flat off-plan in a built-up location with new infrastructures, metro stations or schools, at a reasonable price than when it is completed. You are able to make staged payments by installments with affordable payment plans. The price of the apartment, once it has been prepared, exceeds the cost of building by at least 30 to 40%. There are affordable properties on desired real estate, such as the first flats in Turkey inside modern developments.
Investment in the commercial market
Property investments are made in particular initiatives in offices and retail establishments, such as their purchase, leasing, or opening as a business. The tourist offices and restaurants that appeal to Arab investors, in particular, are among Turkey’s most successful companies, with investors reaping the benefits.
Benefits of buying property in Turkey
Once you have owned a home in Turkey for eight years or more, you can submit an application for Turkish residency. This property could be your permanent home in the years ahead. Buying commercial property in Turkey, similar to starting a new project or building a business, opening a cafe, or a school, allow you to live in Turkey as an investor.
You could have a work permit which will allow you to put an application for Turkish citizenship after five years. To apply for Turkish citizenship, you must purchase one or more Turkish properties worth more than 250,000 USD.
Summary of the Turkish real estate market in 2021
Property for sale investments must be long-term to generate the required profits. Therefore the Turkish real estate investor must exercise caution and develop long-term plans for investing the money saved in Turkey in real estate.