In the last some years Turkey has emerged as one of the best choice for investment in real estate sector. Because of the good reforms in the economic policies in the Turkish real estate business remain unaffected despite of recession in European and US markets.
While the reduction in demand and a downward trend in house prices have been observed all over Europe, based on statistics the number of apartment units sold in the second quarter of 2017 increased 72 percent compared with the same period of 2015 in Turkey, which shows that Turkey has a massive growth potential in this sector. Read more about investment in Turkey.
The entrance of global actors into the housing market is increasing the competitiveness of this sector, while massive mergers and acquisitions happening help its expansion and overall growth rates.
Various surveys and publications like the “Emerging Trends in Real Estate Europe”, prepared jointly by Pricewaterhouse Coopers (PWC) and the Urban Land Institute, show how international and local interest in the Turkish property industry has increased.
In accordance with the 2009 publication of this report, Istanbul is ranked as the third most attractive investment market in Europe after Munich and Hamburg. For best property consultancy in Istanbul click here.
As Turkey progresses along the path to EU membership, the essential legislative reforms introduced have made investing in the housing market much easier and more rewarding.
The amendments to the Land Registry Law, the Draft Mortgage Law and the redrafting of tax laws are also designed to improve the competitiveness of the Turkish property industry.
The property sector in Turkey also has great prospects thanks to demographic factors that are changing in parallel with improving economic figures. The demand for offices and logistical and industrial areas is expected to increase in line with the increasing number of global and local businesses.