Turkey's economy is navigating a delicate balance, with the government closely monitoring efforts to combat rising interest rates and inflation. Alongside monetary policy adjustments, there's a significant focus on trimming public expenditures while providing more incentives to boost productivity. Projections from the IMF suggest a notable decrease in inflation by year-end, with expectations of complete control by 2025.
In Turkish real estate investment, timing matters as much as location. The ‘Buy Zone’ is a key phase when property prices drop to their lowest following a previous cycle of growth. Knowing when a ‘Buy Zone’ is about to occur presents unique opportunities for investors to buy before a new wave of growth starts.
According to data released by The UN World Tourism Organization, global travel has almost returned to its pre-pandemic peak with a total of 975 million people choosing to go abroad in 2023 – millions of those choosing Turkey as their preferred destination of travel with Istanbul officially being the most visited city in the world in 2023.
Turkey's start-up industry has been flourishing, becoming a significant hub of innovation and entrepreneurship in the region. The country's strategic location, combined with a young, tech-savvy population, has created the perfect foundations for start-ups and with that, unique opportunities for investors.
Citizenship by Investment (CBI) programs offer a unique pathway for acquiring a second citizenship through investment in the economy of the host country. These programs have gained immense popularity among high-net-worth individuals for reasons ranging from increased global mobility to enhanced personal security.
Foreigners looking for the best place to buy property in Turkey are entering a healthy market with many destinations offering a full portfolio of off-plan, new build and resale apartments and villas for sale. Mass availability is driving Turkey’s real estate market, and buyers have many advantages to tap into and use. You have much potential for a profitable investment and here are the best places to buy in Turkey today.
If you want to know why to invest in property in Turkey, prepare for a vast list. Turkey is a transcontinental country that bridges Asia and Europe. Its capital city is Ankara, whilst the largest city and most vibrant real estate market is Istanbul. With a population of approximately 84 million and a high proportion of that being young and upwardly mobile, Turkey's strategic location easily attracts foreign buyers and real estate investors.
Airbnb has become a global phenomenon, connecting travellers with unique and affordable lodging options. However, despite its widespread popularity, some countries have chosen to block or impose strict regulations on Airbnb operations within their borders, including the USA, Japan, Spain, France, Australia, and many more. In 2024, Turkey introduced new Airbnb measures that will have a big impact on the way that short-term lettings operate in the country going forward.
The international standing of Turkey's contracting and technical consultancy sector stands as a testament to the strength of its companies. Fuelled by a combination of well-trained human capital, robust technical know-how, technological adaptation, extensive business experience, and disciplined operations, Turkey has become a formidable force in the global market.
Germany has emerged as a key player in supporting Turkey's economic growth through foreign direct investments (FDIs). This partnership has flourished over the years, with both the duration and number of German investments leading the way. Currently, more than 7,250 Turkish and German companies, united by German capital, are actively contributing to Turkey's economic landscape.
France has emerged as a significant player in fostering economic collaboration with Turkey through strategic investments. The partnership between these two nations goes beyond geographical borders, as France recognises the economic potential and opportunities that Turkey offers.
Belgium's substantial investment stock of over $13 billion in Turkey as of 2023 shows the enduring partnership between the two nations. With Belgian companies actively contributing to Turkey's economic fabric, the future holds promising prospects for further collaboration and expansion, reaffirming the significance of this bilateral relationship in the global business arena.
Shell has been a driving force in the Turkish energy industry, consistently setting the bar with its innovative solutions and unwavering commitment to superior standards. Operating in Turkey for nearly a century, Shell has not only played a pivotal role in shaping the energy landscape but has also significantly contributed to the Turkish economy.
Turkish Airlines (THY) holds a significant position within both the domestic and international transportation networks. Renowned as a global brand, THY distinguishes itself through its substantial revenue, contribution to foreign currency inflow, exceptional service quality, extensive reach across numerous countries, and a commendable management approach.
In the grand narrative of the world economy, Turkey emerges as a protagonist of resilience and strategic foresight, navigating the complex tapestry of global economic trends with adeptness and agility. The Economist Intelligence Unit's (EIU) Global Outlook, coupled with the evolving perspectives of institutional investors and credit rating agencies, paints a vivid picture of Turkey's economic renaissance and its burgeoning role in the global financial landscape.
Embark on an economic odyssey, where the heartbeat of Turkey’s resilience pulsates through the veins of its currency—the Turkish Lira. From 2003 to the anticipated horizon of 2026, the Lira's tale is woven into the very fabric of a nation's relentless pursuit of growth and stability. It is a currency that has stood at the crossroads of geopolitical upheavals, global financial crises, and transformative economic reforms, emerging not just unscathed but vibrant with potential.
As Turkey positions itself on the global stage, two strategic plans, Vision 2053 and Vision 2071, stand out as blueprints for the nation's future. These visions are not mere aspirations; they are meticulously crafted roadmaps that outline Turkey's journey towards becoming a global powerhouse in various sectors.
Foreign buyers wanting to know reasons to buy property in Istanbul are assured plenty. Istanbul, where Europe meets Asia, offers a rich history, stunning architecture, and rapidly growing real estate markets. For foreign buyers considering investing in international property, Istanbul has attractive propositions and plenty of properties for sale.
In the dynamic landscape of global real estate investment, Istanbul emerges as a beacon of potential, standing tall against the backdrop of the well-established Dubai market. While Dubai has long been the glittering jewel in the crown of Middle Eastern real estate, the tides are shifting, and Istanbul's market is beckoning investors with its robust growth and promising future.
As Istanbul looks to the future, it is expected to welcome a staggering 24 million visitors by 2028, a testament to the city's enduring appeal and the thriving market that it offers to hotel investors. The landscape is one of opportunity, diversity, and growth, promising rewarding ventures for those who navigate it with insight and strategy.