Turkey is one of the most encouraging real estate market for foreign investors. It has a strategic position at the intersection of Europe, Middle East and Central Asia. The construction industry in Turkey, combines with growing commercial production and offers opportunities for real estate investors. In this article, it is examined in which country investors evaluate these opportunities most.
Turkey is an expanding G20 economy that connects the east and west. The real estate sector in Turkey has grown significantly over the last 10 years. According to the ‘’Real Estate Sector in Turkey’’ report published by the Republic of Turkey Investment Office, it has attracted US $130 billion of foreign investment in the last 10 years.
Foreign investors buying the highest number of homes in Turkey is Iraqis. According to the investment size, the countries that make the most investments are as follows:
According to Turkstat's data, the landed estate market attracts the attention of Gulf investors such as Iraq, Saudi Arabia and Kuwait. 17% of foreign investors in the real estate market are Iraqis. 12% of foreign investors in the real estate market are Saudis. 9% of the foreign investors in the realty market are from Kuwait. The first 5 countries that buy the house are followed by the citizens of England, Azerbaijan and Germany. Each of the England, Azerbaijan, and Germany is 4% of the total.
Between the years 2000-2005, mostly individual investors bought a house in Turkey. However, after 2005, large foreign real estate investors entered the market. Some factors of Turkey's such as strong demographics, growth prospects have attracted the attention of investors.
''Foreign Direct Investment Law'', issued by The Parliament of the Republic of Turkey in 2003, improved the investment environment for foreigners' permits. The law allows foreign investors to own real estate without any restrictions. Thus, the real estate market for foreign investors has become more trustworthy.
The easiest way to have Turkish citizenship is to buy property from the country.
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