Business & Industry

Ago 1, 2015

Real Estate Investments in Turkey

Turkey is the best link between Europe Asia and Africa, meaning 1,5 billion people and a GDP of USD25 trillion are within reach. 

<

With new government investments and the construction of modern infrastructures, the country prepares itself to become one of the world's industrial and economical powertrains. This is the time to buy properties in Turkey. Take it!

Turkey has undergone a profound economic transformation over the past decade and its economic fundamentals are quite solid. It is the 17th largest economy in the world and the 6th largest economy in Europe, with a GDP of approximately USD 820 billion in 2013.

The demand drivers of the Turkish real estate sector are advantageous geographical location, population growth and demographic advantage, increase in income per capita, extensive urban renewal and development, large capacity and power in the construction sector and ease of doing business. The real estate sector in Turkey represents 19.5 percent of total GDP, which brings great investment potential to the sector. The GDP share of the real estate sector increased by 2.3 percent in 2000 and 3.8 percent in 2012. The average share of construction, real estate, rental and business activities and new house sales in total GDP increased by 16.7 percent from 2000 to 2005. However, the sharpest increase, of 20.5 percent, was between 2006 and 2009.

On the investment side, FDI inflow rose to USD 12.5 billion, while real estate and construction garnered USD 1.6 billion of total FDI in 2012. Sales of real estate to foreigners began to increase following enactment of the reciprocity law and reached USD 2.64 billion in 2012. The Ministry of Environment and Urbanization announced that real estate sales to foreigners increased from 2 percent to 5-6 percent in the last ten months of 2013.

The current situation, along with strategic plans and future projects in the pipeline, bears huge potential for investors in Turkey's real estate sector as the number of real estate properties sold reached 290,000 in 2012.

Retail area availability

In terms of available leasable area, there are about 300 operational shopping centers in Turkey with a total of 8.2 million square meters. The shopping centers in Istanbul – around 30 of them – represent 46 percent of the total leasable shopping center area in Turkey. Office construction licenses obtained throughout Turkey have increased 27 percent, reaching 6.84 million square meters.

There is still room for investment in the retail market since only 54 Turkish cities out of 81 have shopping centers. 

In order to cope with industry and commerce demands, the Turkish State Railways' (TCDD) has started a investment program that will spend over USD240 million on building logistics centers.

Residences renewed

Urban renewal and transformation projects, officially started in Turkey after the enactment of Law No. 6306, the Renewal of Regions that Are Prone to Disaster Risks in 2012. Under the scope of this law, 6.5 million residences will be included in the Urban Renewal and Development initiative. A budget of USD 400 billion was allocated for this initiative with the private sector playing the largest role. 

Currently, there are a total of 19 million residences in Turkey, and according to the Ministry of the Environment and Urbanization, 14 million residences are prone to natural disasters. The Urban Renewal and Development Plan will take action on these residences. 

The Ministry of the Environment and Urbanization decided that urban transformation projects will start in the areas of the highest risk. The cities most at risk are located on the seismic fault, such as Istanbul, Koceli, Sakarya, Bursa and Izmir where major projects are underway.

These ambitious targets for urban renewal and development projects offer many opportunities for investors, especially in the construction and real estate sector. 

Invest now!

In conclusion, the properties market – either housing, retail, office or industry – in Turkey is booming, and will continue growing for the next years, fueled by large construction and development projects. 

The opportunity is around the corner, you just have to take it. Some of the bigest and most important real estate agencies are represented in Turkey, via local partnerships or brand offices, willing to help investors find what they desire most.


Mais artigos

DestaquesArtigos

  • 1

    Science & Nature

    Out 4, 2018

    CITY TREE

    "A poluição urbana é um enorme problema em muitas cidades do mundo, e a fraca qualidade do ar pode significar um aumento em condições de doença crónica como a asma, ao mesmo tempo que dificulta as pessoas a andar, andar de...

  • langostino-gambon-austral-alta

    Science & Nature

    Mai 1, 2017

    DE CAMARÃO A PLÁSTICO

    Por algum tempo, durante o século XX, o plástico foi considerado uma das maiores invenções da Humanidade. Senhoras e senhores por todo o mundo, usavam como prémio, quando iam às compras. Depois tornou-se numa dor de cabeça, ainda...

  • dynamiq-gtt-115-porsche-inspired-yacht-1

    Mecanica e Locomoção

    Jul 1, 2017

    ULTRA LUXUOSO

    Tem design da Porsche, mas não se destina às estradas. Tem o conhecimento dos holandeses, mas não serve para cultivar tulipas. Está a ser construído em Itália, mas é uma criação monegasca. Confuso? Em vez disso, deslumbre-se.

    ...


  • 19620901_739735632865157_1070968012579382532_o

    Home & Design

    Ago 1, 2017

    ESTILO OCIDENTAL, SABEDORIA JAPONESA

    Não precisa ver o filme Kill Bill-Volume 2, ser uma grande chef ou um mestre de espada para saber que as melhores lâminas do mundo são japonesas. A sua tradição no fabrico de lâminas vem desde o século XIII.

  • 74578418-4108-11e8-ab09-36e8e67fb996_1320x770_081421

    Research & Education

    Mai 31, 2018

    A MULHER POR TRÁS DO HOMEM

    Mulher e mãe de dois presidentes dos Estados Unidos, Barbara Bush teve um papel fundamental na sua família, na América e no mundo

  • AR-170519548

    Business & Industry

    Jul 1, 2017

    CRESCER DE NOVO

    E outra vez, e de novo para dentro to mar. O Dubai não para de espantar o mundo com os seus hotéis e estilo de vida luxuosos. Mas também com os investimentos milionários para fazer o país crescer.


  • 01

    Luxury & Fashion

    Fev 1, 2017

    A ARTE RENASCENTISTA DA JOALHARIA RUSSA

    Engenhosos artesãos russos do passado deixaram sua pegada brilhante na história da arte da joalharia. Com a ascensão da arte joalheira russa no século XIX, a glória da C. Faberge, Khlebnikov I., P. Ovtchinnikov, M. Perkhin, I....

  • cecina

    Food & Beverage

    Abr 1, 2016

    Um Sabor Secular

    Se nunca ouviu falar da Cecina de León, é altura de todos a conhecerem. É carne de vaca seca e fumada, do quadril do bovino, com o exterior de um tom marrom tostado acastanhado escuro. Por dentro, é de cor marron cereja, que se...

  • 1

    Luxury & Fashion

    Mai 1, 2015

    125 years of jewelry excellence

    Mouawad fine jewelry embodies a sublime combination of artistry in design, quality of craftsmanship and the passion of an expert jeweler. While united by these constants, each collection strikes a unique note, taking its place in an...