Turkey has become a go-to destination for investors, whether in real estate or business. The days of complex, confusing property purchases and outdated regulations are long gone. Turkey’s government has completely reformed the foreign investment sector, making it one of the most attractive markets in the world. In particular, changes made in 2003 under the Foreign Direct Investment Law have protected the rights of investors and created a much more desirable environment for foreign capital.
Between 1973 and 2002, foreign direct investment in Turkey amounted to $15 billion, but from 2003 to 2016, this figure surged to $180 billion. These reforms haven’t stopped, either. Today, Turkey continues to simplify processes for property buyers and business investors, making it easier to secure title deeds and even offering Turkish citizenship for those who spend more than $250,000 on real estate.
In March 2018, further measures were introduced to streamline transactions, reduce costs, and simplify procedures across the board. The government’s commitment to welcoming foreign investment is evident, and Turkey remains an incredibly appealing market for international buyers.
4 Key Reasons to Invest in Turkey
- A Growing Economy By 2020, experts predict that Turkey’s economy will rank among the top ten globally, joining the likes of the USA, China, and Russia. Over the past 14 years, Turkey’s GDP has more than tripled, with the country becoming a hub for international companies like Ford, Nestle, and Boss. The growth is part of Turkey’s long-term “2023 Vision” plan, ensuring sustainable and strategic economic development.
- Strategic Location Often referred to as the bridge between the East and West, Turkey’s location has always been advantageous. It fosters mutual partnerships with regions such as Africa, Russia, the Middle East, and the European Union. Turkey’s appeal as both a tourist destination and a business hub will only increase with projects like the New Istanbul Airport, which is set to be one of the world’s largest transportation hubs.
- Urban Renewal and Infrastructure Improvements Turkey has made significant strides in modernizing its infrastructure, particularly in transportation and housing. From highways to bridges, the country has invested heavily in making travel and cargo transport more efficient. In the real estate sector, modern housing developments and skyscrapers, particularly in Istanbul, have created a thriving market that attracts both local and international buyers.
- A Promising Future Turkey has shown resilience during challenging times, including the 2016 coup attempt and global terror threats. The country remains focused on its 2023 vision, aiming to become a top global tourist destination and a major player in the world economy. The future is bright for Turkey, and it continues to present excellent investment opportunities.
Secure Your Investment in Turkey with Aegean Locations
If you’re considering investing in Turkey’s thriving real estate market, Aegean Locations is your trusted partner. Specializing in helping international buyers navigate the Turkish property market, we offer personalized services to make your investment process seamless. Contact Aegean Locations today to explore the best investment opportunities in Turkey.