For the last 20 years, Turkey has been attracting investors’ attention by its strategic location, fast developing economy and growth potential. Foreign property investments in Turkey increased in parallel with the latest developments. Since 2006, direct foreign real estate investments have reached 52 billion USD in Turkey and it is increasing every year. It is expected to reach to annual 10 billion USD of direct foreign investment for real estate sector in Turkey in the following years. Amongst many factors, several key points can be listed prior to why investing in Turkey is a good idea.
Turkey is located in-between Europe and Asia and it is surrounded by the Mediterranean, Black Sea and Aegean Sea. Its central location makes Turkey become a finance and tourism center. TUİK (Turkey Statistics Institute) announced that in 2019, 51.7 million tourists visited to Turkey. In addition to that most of the multinational companies have regional headquarters (Middle East, North Africa and Caucasians headquarters) in Turkey such as Coca-Cola, P&G, Visa, General Electrics and Disney.
Fast Developing Economy
Turkey’s economy is developing rapidly. According to OECD, it is expected that Turkey to grow an average of 4,9% per year between 2015-2025 which makes Turkey one the fastest growing economies in OECD Countries. This growth brings lots of investment opportunities and potential with itself especially, in the real estate sector.
Besides the economic growth in the overall Turkish Economy, Turkey stands out with government and private sectors’ contributions in logistics and transportation areas. With the latest investments such as New Istanbul Airport, Kanal Istanbul Project, Istanbul-Izmir Highway, Fast Train Railways, Galata Port and Canakkale Bridges, Turkey is becoming a central logistics hub. Thus, many more multinational companies are moving their regional headquarters and their logistics centers to Turkey.
Turkey has also come forward with its strong social benefits such as public healthcare services. Turkey is the leading country in the world in terms of the intensive care unit per person. Additionally, health insurance policies are comprehensive and have reasonable prices for both public and private insurance beneficiaries. For instance, the general health insurance policy is a monthly 107 Turkish Lira (approx. 14,5 USD) that covers most of the services in public hospitals and emergency services in private hospitals.
Why Invest in Istanbul?
Istanbul is the largest city and center of Turkey without a doubt. With a high population and latest investments in real estate, tourism and transportation areas, Istanbul offers a lot to the investors. Channel Istanbul, Galata Port and other metro and bridge projects increased Istanbul’s dynamism and synergy. Besides that, fast urban transformation and new real estate projects make Istanbul more valuable and worth to invest. To be a part of this exciting journey, do not be late to invest in Istanbul and Turkey.