In recent years, the Turkish real estate market has flourished and developed rapidly with a huge rise in performance and significant decrease in the risk of loss. These conditions in the Turkish real estate market have prompted investors in general and foreign investors in particular to increase the demand for investment in Turkey, especially investment in the capital of the economy, Istanbul.
On the other hand, if we talk about Turkey, there are several noteworthy points that contribute strongly to the development of the real estate market in Turkey, including:
- Booming economy; more than tripling its GDP, reaching USD 851 billion in 2017, up from USD 231 billion in 2002
- Stable economic growth with an average annual real GDP growth rate of 5.8 percent between 2002 and 2017
- Promising economy with a bright future as it is expected to become one of the fastest growing economies among the OECD members during 2018-2019 with an average annual real GDP growth rate of 5.0 percent
- 13th largest economy in the world and 5th largest economy compared with the EU in 2017
- 193 million airline passengers in 2017, up from 33 million in 2002
- 38 million international tourist arrivals in 2017, up from 13 million in 2002
- New and highly-developed technological infrastructure in transportation, telecommunications and energy
- Well-developed and low-cost sea transport facilities, Railway to Central and Eastern Europe and direct delivery mechanism to most of EU countries.
- Corporate income tax reduced from %33 to %20 for 2018, 2019 and 2020
- Customs Union with the EU since 1996 and Free Trade Agreements (FTA) with 21 countries
- Largest youth population compared with the EU (%50 under the age of 32)
- Easy access to 1.7 billion customers in Europe, Eurasia, the Middle East and North Africa