Is Turkey a good investment?
With its fast-growing economy, young, educated and increasingly wealthy population, and its position at the crossroads of Europe and Asia, Turkey’s investment potential has long attracted foreign investment and continues to do so with more people choosing Turkey each year.
How can I invest money in Turkey?
Turkey’s investment landscape has changed a great deal over the last decade or so. The government has made investing attractive to foreign investors by offering tax breaks and other incentives. How can you invest money in Turkey? There are multiple ways to invest, including:
There are several sectors that appeal to foreign investors:
- IT and technology: Turkey has positioned itself as a leader in research and development, and there are opportunities to invest in cutting-edge software development, nanotechnology and electronics.
- Construction and real estate: these sectors underpin the Turkish economy. Driven by rapid population growth and a growing middle class, construction simply can’t keep pace with demand, especially in larger centres like Istanbul. The domestic property market is growing rapidly. The ability to obtain Turkish citizenship by investment is also of huge appeal to foreign investors.
- Energy: Turkey is a regional hub for hydroelectric power, wind energy, solar energy, natural gas, bio energy and geothermal energy, and there are incentives for investors wishing to explore investment in Turkey.
Where is good to buy property in Turkey?
Turkish real estate is one of the most accessible ways for foreigners to invest their money in Turkey. It’s also attractive for second home buyers, or those wishing to make the move to a country where living is relatively cheap, the sun shines and there is a wealth of cultural and historical attractions for all the family to enjoy.
- Holiday homes: If you are looking to buy a holiday home in Turkey, head to the Mediterranean coast: Antalya, Bodrum, Fethiye, Kas and Kalkan are sunny and lively towns with plenty to do.
- A permanent move: Not every holiday spot is suitable for year-round living. For a permanent move, look to larger hubs, which will have the amenities you need for everyday life. That means Fethiye, Bodrum, Antalya or Istanbul.
- An investment: Istanbul is the prime investment spot in Turkey. However, you can also look at Antalya, a rapidly growing Mediterranean town with a strong economy, or Izmir, a bustling city with a large population of young professionals.
Is Turkey safe to invest in?
Turkey’s real estate sector is underpinned by solid economic fundamentals. While Turkey, like every country, has weathered a few storms in the past two decades, its economy, driven by its trading position and its young, dynamic population, has continued to expand, even during the global financial crisis, which impacted the Eurozone dramatically.
These economic fundamentals mean investing in Turkey is a safe option, especially with real estate, given the domestic demand for property in larger cities, which shows no sign of abating.
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