Which Countries Prefer Turkey For Property Investment?
Turkey, due to its geopolitical position in the Middle East, Asia, and Europe is known as the most important joint. The growing property investment sector is seen as the most suitable country for foreign investors thanks to its transportation facilities and strong economic infrastructure. Moreover, Turkey thanks to foreign investors embraced policies always located in the top row of the countries they prefer to property invesment by foreign countries. The property sector with the increase of foreign investments in Turkey in recent years has shown good growth. Different options are offered to foreign investors with new housing projects against increasing demand. With gigantic projects worldwide, such as the Istanbul Airport and Channel Istanbul, many new foreign investors to property invesment will continue to prefer Turkey. In the essay, you can find detailed information about the country and the reasons for Turkey who choose to property invesment.
Ready for Turkish Citizenship Opportunity
The intense interest of foreigners proves that Turkey’s foreign investments it has made work arrangements to save the country. Foreign investors in property investments made in Turkey, in particular, has increased thanks to the practice of granting citizenship through investment. With the property arrangement made in 2018, foreign citizenship rights were granted to foreigners for 250 thousand dollars of property purchases. In the previous application, this figure required the purchase of 1 million dollars of property. After the 750 thousand dollar discount, foreigners’ property purchases naturally increased. According to other data, foreigners to gain citizenship in 2019 has made 35 percent of their investments in property in Turkey. With a share of 15 percent, Istanbul ranks first in the property investments made by foreigners to obtain Turkish citizenship.
Another reason for choosing Turkey for property investment by foreigners is an appreciation of foreign currencies against the Turkish lira. Thus, foreigners can invest in high-quality property at is a much more attractive price compared to other countries in Turkey. The good political relations with foreign countries can be shown as another factor that increases property investments. All of them, as well as Turkey’s geographical location and infrastructure owned, cultural and social facilities, life and career opportunity, ease of purchase and sale of the property, can be listed as other reasons for choosing Turkey by foreigners.
According to the data released by the Statistics Institute of Turkey, a 113 thousand 615 housing sold in Turkey in January 2020. The number of houses sold to foreigners increased by 23.3 percent. Housing sales in Turkey increased by 55.8% compared to the same month of the previous year in January 2020. Housing sales to foreigners increased by 23.3% compared to the same month of the previous year and became 3 thousand 907.
Iraq Takes the Lead
According to data released last month, the beginning of the country who prefers to property invesment in Turkey are Iraq, Iran and the Russian Federation. Iraq ranks first among the countries for property invesment. Then Iraq is the country that most property investments in Turkey appear to be Iran. The Russian Federation is in third place in the list of property investments of foreign countries. The other foreign countries who invested in property in Turkey are Egypt, Germany, Kuwait, Saudi Arabia, Azerbaijan, Lebanon, Great Britain, Kazakhstan, Turkmenistan, Ukraine, Sweden, Palestine, Qatar, China, Yemen, Afghanistan, Jordan, and Israel. In January 2020, Iraq citizens has purchased 739 residential from Turkey. Iraq is followed by Iran with 678 houses, the Russian Federation with 254 houses, Afghanistan with 204 houses and Yemen with 142 houses.
Foreign countries investing in property mostly invested in Konya, Istanbul, and Afyonkarahisar. It is seen that foreign investors prefer to Konya the most in property investment. After Konya, Istanbul comes second, while Afyonkarahisar comes third. These provinces were followed by Manisa, Karaman, Bilecik, Bolu, Tekirdağ, Antalya and Kocaeli. It is observed that Büyükçekmece, Başakşehir, and Beylikdüzü districts have the highest share in property investments in Istanbul. These districts are followed by Esenyurt, Silivri, Şile, Sarıyer, Küçükçekmece, Arnavutköy and Bağcılar respectively.