Why Investing in Turkey Offers Incredible Opportunities
Whether you’re looking to dive into real estate or start a business, Turkey offers a vast range of opportunities for foreign investors. Long gone are the days when purchasing property or investing in Turkey was a complex and confusing process. Thanks to significant reforms, Turkey has now become one of the most competitive markets globally, attracting investors from all over the world.
In 2003, Turkey implemented the Foreign Direct Investment Law, marking a pivotal shift in how the country approached international investments. These changes weren’t just to make Turkey more appealing—they were designed to protect investors and foster an environment where both local and foreign investments could thrive. The result? Foreign direct investment skyrocketed from $15 billion (between 1973 and 2002) to $180 billion between 2003 and 2016.
The Turkish government has continuously made real estate transactions easier for foreigners. For example, property buyers who invest over $250,000 in real estate can now qualify for Turkish citizenship, and additional incentives, such as VAT discounts, are available for qualifying investments.
In March 2018, the government introduced even more measures to streamline business and real estate processes. This included simplifying the property buying process by merging multiple procedures into a single, cohesive system. The commitment to making Turkey a favorable investment destination is clear, and it’s only getting stronger.
4 Reasons to Invest in Turkey
- A Booming Economy Turkey’s economy is rapidly growing and is expected to join the trillion-dollar ranks by 2020. Major companies like Ford, Nestle, and Boss are taking advantage of Turkey’s booming manufacturing sector. This isn’t a coincidence—it’s part of Turkey’s long-term vision plan for 2023, which has paved the way for sustained economic growth.
- Strategic Location Turkey’s geographic position makes it a bridge between East and West. The country’s proximity to Europe, Russia, the Middle East, and Africa has resulted in fruitful partnerships with these regions. With projects like the New Istanbul Airport, which is set to become a global hub, Turkey’s appeal to tourists, investors, and businesses will only grow.
- Urban Renewal and Infrastructure Turkey has made significant strides in modernizing its infrastructure. The country’s highways have been upgraded, and urban renewal projects have transformed cities like Istanbul into bustling centers of commerce and luxury living. This improved infrastructure makes Turkey an attractive destination for both businesses and real estate investors.
- A Bright Future Despite facing challenges like the failed coup of 2016, Turkey has demonstrated resilience and determination. The country remains focused on achieving its 2023 vision, which includes becoming a global economic and tourism powerhouse. The future looks incredibly bright for Turkey and its investors.
Invest in Turkey with Aegean Locations
If you’re looking to explore Turkey’s dynamic real estate market, Aegean Locations is here to guide you. Specializing in property sales to international buyers, we offer expert advice and personalized services to help you make the best investment decisions. Contact Aegean Locations today to discover how you can benefit from Turkey’s exciting opportunities in real estate.