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What will happen to Turkish real estate in 2020?

What will happen to Turkish real estate in 2020?

Real estate is a basic sector in Turkey, especially from the beginning of the 2000s. If we give a deep look at the subject, constructional need in the country is a must because Turkey stayed behind in the renovation progress unlike most of the country in Europe. Constant migration to Istanbul from inside the country and the countries –migrating due to wars and political situations- around it was very effective. That’s why the population in the city jumps up fast and creates an undesirable view of buildings all over the place. However, within the starting of the renovation process, the city started to gain a new ambiance and attracted foreign investors more and has still kept its attraction.

Residencial life starts to be common and makes the city gain a modern-like view nowadays. Despite the doubt of bankruptcy in the construction industry, the buildings which are newly made show us the doubt is only an illusion because the statistics say that sales in real estate to foreigners increased %23,3 in January when we compare it with the same month in previous year that means the real estate will keep being a basic industry in the country.

Additionally, Istanbul starts to become one of the most suitable business centers thanks to being just 3 hours away to the important points in three continents such as Germany, France, Dubai, Abu Dabi, Russia, Iran, Italy and more. Also, the expansion in the currency between Turkish Lira and other currencies like dollar and Euro makes Turkey be more suitable for companies that want to be close every direction and low salary. As being a European person, it would be an inevitable opportunity right next to you.

On the other hand, when we analyze the real estate outside of Istanbul. We see that the market amazingly jumps up with the tourism element in the sides near the sea. Actually, the Mediterranean and Aegean sides of Turkey are always famous for tourism and foreigners bought properties in these sunny lands. English people were common people who bought a property in the 90s. In the 2000s, Germans dominated the market. Despite middle eastern people begin buying property, investment in Turkey still attracts the European countries and of course Russians.

Besides, we evaluate buying a property in residence according to a local customer;
  • Residences and luxury villas offer earthquake-proof unlike most of the buildings in the city do not.
  • The infrastructure and pavement process still keeps
  • Turkey seems as if it is a sanctuary for people around despite the whole problematic situation.
  • Not only the countries around but also other countries from Europe to China make an investment here
  • Migration from Eurasia and Afro-Asia continues its augmentation
  • Individual life increases in the big cities
  • The mortgage has the lowest ‘’problematic credits’’ among the whole credits
  • The total income of the country increase from 200 billion dollars to 800 billion dollars in 2017 and expected to be 2 quadrillions in the future.
  • %80 of the total land of the country belongs to the state and the rest belongs to people
  • Buying property is still seen as one of the best investment instruments for local people, even bankers

Draw your attention to the statistics of finance and market while focussing on rumors.