Real Estate in Turkey What is the benefit of buying an apartment in Turk | Page 2
How Investing in Real Estate in Turkey is becoming a Thing
The official name of Turkey is the Republic of Turkey and, being located between
Asia and Europe makes it a transcontinental country. Ankara and Istanbul are the
two most important cities in Turkey.
Ankara is the capital whereas Istanbul is the biggest city in Turkey a real
cosmopolitan center. The population is about 76 million people, basically
consisting of young people who tend to move a lot to find a better job and business
opportunities making Turkey one of the best countries for real
estate investment like flats and apartments as there are many people who are
looking for an apartment in Turkey for sale.
SWOT analysis for the real estate in Turkey:
SWOT analysis refers to strength, weakness, opportunity, and threats. This kind
of analysis is used to analyze the real estate market in Turkey.
Strength: Turkey is a leading country in Europe, where investments make
a huge impact on the growth of GDP. There is a potentially strong control
over finance and banking. The companies of construction have global
networks and a good international reputation. This grants easy access to
mortgage facilities. Each year the government maximizes buyer incentives.
Weakness- It is difficult to acquire land and get permits for construction as
the process is complicated. There are a large number of old houses
available and these houses don’t meet the requirements of a mortgage.
Opportunities- Residential places and spaces for commercial are in huge
demand internally. There are many projects approved for the up gradation
of slum areas into new housing colonies. The new regulations for
earthquake and any kind of natural disasters have made the way for quality
constructions. The opportunities for residential houses and office space
have increased tremendously due to a large number of tourists and
investors inflow. This means that every day there will be a bigger number
of houses for sale in Turkey that would cater for the needs of whoever is
interested in buying a property in Turkey.
Threats- Most parts of Turkey face threats of earthquakes and natural
disasters which can scare investors off purchasing property
there. Moreover, the market is more strained in comparison to other mature
real estate markets like in the UK and the US.
Why should you invest in real estate Turkey?
Prosperous economy- With the increased projection of 5%, the GDP has
reached USD 800 billion with annual real GDP growth. The economy has
heavy exports of about USD 168 billion which makes it the world’s 17th
largest economy.