Real Estate

Investing in Real Estate in Turkey: What Do You Need to Know

Deciding what you invest your hard earned money in is always difficult and challenging. One cannot help but think what would happen if their latest endeavor ends in a failure and they lose everything they have earned and are back to square one. Investment opportunities are all around us but it is always a risk, especially now when the world is full of uncertainty and when people have no idea what tomorrow will bring. However, many have done it despite a high degree of unlikeliness and so can you. The only thing you have to make sure of is to keep working hard, plan accordingly, and trust the market but also your gut feeling. If you really want to invest money, it should be somewhere where there is always a chance for you to make more.

The Ultimate Need of Everyone

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If you want to increase your chances slightly or at least invest in something that is always necessary and that makes sense no matter the state of the economy and world events, you should definitely pick real estate. From the dawn of modern civilization people have had the need of places to call home as well as places for various sorts of facilities, businesses, and institutions. Whatever you want to achieve in life and whichever industry you want to join, you need business space. If you want a comfortable and happy life with your family, you need to have a home where you can prosper.

All of these things are achieved through the real estate industry where investments always make sense. The most difficult part in all of this is to pick the right place to buy and sell property and this exact thing is the topic of our contestation today. Read on to learn more about chasing the right real estate market and one of the top countries to do so, Turkey. Before you can do so, you might have to think about moving there, at least until you get things of the ground. If you are serious about your real estate plans, you should ask yourself this: how can I move to Turkey?

Know About the Country

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Turkey has been one of the most influential countries in the world for centuries. The rich history, amazing culture, and so many customs and traditions make it one of the most diverse places on the planet.

Combined with numerous civil right movements and transformative politics of their leaders, it is a unique country in many ways. Unlike any other Muslim country and open to people from all over the world with welcoming locals, it is a paradise for many different reasons. Turkey is located on two continents with its largest city of Istanbul being in both Europe and Asia. Such a strategic location allowed the city and the whole country to be a crucial hub for trade and military conquests for many centuries.

Turkey stretches across more than 783,000 square kilometers and has over 84 million people. More than 15 million live in Istanbul, the largest city and the financial center of the country. Ankara is the capital. Around 75% of the population is of Turkish ethnicity, the Turkish lira is the national currency, and some 90% of the population is Muslim. Modern day Turkey is a tourist industry powerhouse and one of the most important countries in its region. It owes most of this to its great location right in the heart of every important connection between Europe, Africa, Middle East, and Asia. As one of the top tier summer destinations due to it being surrounded by three seas in the Aegean, Black, and Mediterranean, it is a prime spot for real estate investors.

What to Invest In

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A country as big as Turkey will always be in a big need of all sorts of real estate but you need to know what you should invest in. The easiest thing to get into are usually small apartments and condos. Their number is constantly on the rise especially in the developing parts of the country and towns and cities that are expanding. If you want to start off the right way, it would be best to invest in residential and commercial real estate in a fast-growing city like Gaziantep. Bigger cities like Ankara and even Istanbul are bound to have some cheaper solutions in certain areas that can be turned around for extra profit or for a steady source of weekly or monthly rent income. You have to remember however that the competition is fierce and that many locals as well as other foreign investors have the same idea as you and that you have to be different and offer additional things for the customers to choose you.

Focusing on the Tourism

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Countries that can live off of tourism have it pretty good, much easier than those that are not on a typical tourist’s wish list. Turkey is certainly up there with the best of them, right around Greece, Croatia, Egypt, France, and Italy. This means that people from all over the world flock to its shores in search of a dream summer vacation, which is something you can use to your advantage. Commercial and residential real estate with the sole purpose of serving tourists is by far the most lucrative way to invest in Turkey’s real estate sector. Picking basically any town or city close to the shore guarantees higher rates, more traffic, and more successful career than anywhere else in the country.

The country is rich in prime summer vacation destinations that you should think about investing in. While it is much more expensive than doing it anywhere else, you will earn more money and more quickly. With places like Bodrum, Antalya, Izmir, Kemer, and Marmaris there is no shortage of amazing areas to buy your first apartment to rent or a small business to back up. Istanbul is always there as the most visited and populous city with many areas where tourists are always present. Bursa, Konya, Trabzon… you can go in any of these directions and all of them will present you with so many different options to earn in the real estate business from the fact that Turkey is a huge tourism center.

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