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Experts Anticipate a Four-fold Increase in The Number of Foreigners Buying Apartments in Turkey.

Turkish real estate companies and developers anticipate a rise in international investors’ interest in Turkish real estate in the near future. The rise in currency exchange rates and the appeal of Turkish healthcare to foreigners, on whose improvement the nation invests enormous sums of money, are factors in this expansion.

Turkey’s real estate market is set for a dramatic surge, according to industry experts. They predict a fourfold increase in the number of foreigners buying apartments in Turkey, transforming the landscape of the country’s property market.

A Flourishing Market

Turkey’s real estate market has been a magnet for foreign investors in recent years. The country’s strategic location, vibrant cities, beautiful coastal regions, and cultural richness make it an attractive destination. Add to this the relatively affordable property prices and a straightforward process for foreigners to purchase real estate, and it’s easy to see why Turkey is a hot spot for international property buyers.

Why the Increase?

Several factors are driving this expected increase. The Turkish government’s introduction of the Citizenship-by-Investment program has been a game-changer. This program grants Turkish citizenship to foreign investors who purchase real estate worth at least $250,000.

Moreover, the government’s proactive approach to attracting foreign investment, coupled with the country’s economic resilience amid global uncertainties, boosts investor confidence. In addition, Turkey’s ongoing urban development projects, improving infrastructure, and the potential for high rental yields further fuel interest in the property market.

What This Means for Turkey

This anticipated fourfold increase in foreign apartment purchases has significant implications for Turkey. It signals not only the robustness of the country’s real estate market but also the growing appeal of Turkey as a place to live, invest, and do business.

The influx of foreign investment can stimulate economic growth, support the construction sector, and contribute to urban development. Furthermore, it can enhance cultural diversity and foster global connections, reinforcing Turkey’s position as a cosmopolitan crossroads between East and West.

Conclusion

As Turkey’s real estate market continues to attract international attention, the country stands on the brink of a significant property boom. With a fourfold increase in foreign apartment purchases on the horizon, the future of Turkey’s property market looks bright indeed.

Whether you’re an investor looking for a lucrative opportunity, a homebuyer seeking a place in the sun, or an expatriate dreaming of a new start, now may be the perfect time to explore what Turkey’s real estate market has to offer.

Foreigners in Turkey.

The impact of the coronavirus epidemic will gradually lessen, but the number of foreigners looking to purchase real estate in Turkey will increase, according to Hakan Yılmaz, chairman of the board of the investment and construction firm Yılmaz inşaat (Istanbul). Turkish real estate sales to foreigners will increase fourfold once regular flights to other nations are completely resumed. All those who wished to purchase real estate in Europe – Spain, Portugal, Italy, and Great Britain – are likely to select Turkey. Due to the scarcity of hospitals in Europe, investors, especially rich ones, may frequently opt to purchase real estate in Turkey as a substitute.

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https://m.bianet.org/english/economy/262031-house-sales-to-foreigners-further-increase-in-turkey

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