Is real estate investment in Turkey still profitable?
Real estate investment in Turkey has a prominent position, and it is the best type of investments in Turkey. However, because of the current circumstances, many investors ask (Is real estate investment in Turkey still profitable?) and that is what we will talk about in this article from Ebla Real Estate.
Is real estate investment in Turkey still profitable?
Is real estate investment in Turkey still profitable? The real estate market has gained a reputation for being the most guaranteed investment sector. It’s the safest way to make money and also the quickest.
In Turkey, there are many investment opportunities and projects in the real estate sector that attract foreign investors and offer profitable returns.
Statistics about the real estate investment boom in Turkey this year 2022:
The demand for real estate purchases in Turkey continues at an upward pace. Especially among foreign investors wishing to purchase property in various Turkish cities.
According to statistics, the number of transactions for the purchase and sale of housing by foreigners increased by 45.1% in the first quarter of 2022, compared to the same period last year. Foreigners bought 14.344 Turkish properties, which is 4.5 of all sales in Turkey.
Moreover, the Turkish Statistics Authority said in a statement that Turkish real estate sales to foreigners recorded an increase of 31% last March, compared to the same month of 2021. Furthermore, the total real estate sales during the same month amounted to 134,170 sales transactions, while the number of properties sold to foreigners reached 5,567, or 4.1% of the total properties sold in March 2022.
Additionally, real estate sales to foreigners in Turkey grew 235% during May of 2022 compared to May of last year 2021.
Istanbul came first in terms of real estate sales to foreigners with 2451 properties.
Russian real estate sales in Turkey started to have the most significant share in April 2022. Likewise, they also keep the 1st position in May sales with 1275 sales. Moreover, Iranian and Iraqis followed them with 736 and 617 sales, respectively.
How have the prices of Turkish real estate changed?
The dynamics of property prices in Turkey is a head of the dynamics of the European Union. Turkey ranks first in the Eurostat housing price index among European countries. Turkish property increased in value by 427% from 2010 to the fourth quarter of 2021. Thus, that is 10 times more than the increase in real estate prices in the European Union.
In February 2022, housing prices rose by 96.4% on average in the country. In addition, in the largest Turkish city (Istanbul), prices rose by 106.3%.
The future of real estate investment in Turkey:
Real estate prices in Turkey from last year until the middle of this year 2022, is an indicator of what real estate prices will become in the next year.
Thus, investors who want to invest in Turkey should start their real estate investment project now; Because the investment value of Turkish real estate will reach its peak in 2023.
Moreover, there are many factors that indicate that the future of real estate investment in Turkey will be promising with many profits and good gains, as foreign investors still have a desire to buy real estate in Turkey, and the demand for homes is still high.
In addition, there are real indicators of a great economic boom in Turkey during the next year 2023, the most prominent of which are:
Turkey will mark the centenary of the foundation of the republic in 2023.
Implementation of major vital projects in Turkey, including the completion of all phases of Istanbul Airport, which will become the largest airport in the world, Istanbul Water Canal Project, the largest project in Turkey and Istanbul Financial Center.
