Effects of Real Estate Investment in Turkey and Worldwide
The Effects of Real Estate Investment in Turkey and the World
The real estate sector in Turkey and the world has a very important place and with the increasing population, its importance in the life of people is increasing day by day. Rapidly increasing population, people who are constantly traveling with the globalizing world, developments and changes in social, cultural, and economic fields continue to increase the importance of the real estate sector.
The real estate sector includes many sectors with a wide range. This provides a great employment opportunity in all countries and provides support to many sectors it benefits from.
The real estate investments made by foreigners in Turkey and the world makes a great contribution to the national income of the country.
The Importance of the Turkish Construction Sector in the World
The Turkish construction sector started to develop in the 1950s and developed in a short time and gained a voice in the world. Today, Turkish construction companies are preferred in construction investments in many countries of the world and these structures are built by Turkish companies. With its place among the world leaders in the construction sector, Turkey has made progress in a short period of time in this area. The government policies, international lenders, decisions affecting politics, and the economy has a direct effect on the development of the construction sector in Turkey.
The real estate sector in Turkey has started to recover since 2004. Turkish real estate attracted the attention of foreigners from all over the world with the enactment of the reciprocity law in 2012 and the ease of selling houses to foreigners. Turkey has a large real estate market of quality and luxury real estate is sold at a reasonable price. This attracts the attention of foreign investors. Especially in the last 3 years, incentives such as lowering the lower limit of citizenship and VAT exemption for foreign investors, and reasons such as the rise in currency have contributed to the rapid increase in real estate sales in Turkey.
How does real estate investing affect Turkey's economy?
It is accepted that there is a close relationship between real estate investments and economic growth all over the world. The real estate sector, in particular, plays an important role in the economic growth of developing countries such as Turkey. The real estate sector is regarded as one of the most important sectors in the economy due to its direct or indirect connection with other sectors.
Foreigners buying property in Turkey provide direct foreign capital entry into the country. At the same time, a foreign, who bought commercial real estate and established a business here, also contributes to the employment of the country.
Turkey is a country that attracts the attention of foreigners with its geopolitical location, historical and natural beauties, transportation facilities, and developed health system. With these unique facilities, Turkey offers great and advantageous investment opportunities to foreign investors in the real estate sector. The charm of the luxury housing market in Turkey continues to affect foreign investors. The sale of real estate to foreigners, which increases every year, contributes significantly to the economy of the country.
The Role of the Construction Sector in Economic Growth
Construction plays an important role in the growth of developing countries. Turkey is a country, which is developing, and growing needs accordingly. As in the rest of the world, the main axis of its development is "construction". Construction is the basis of all structures that will make life easier and liveable, such as roads, dams, airports, bridges, factories, hospitals, and residences.
The Turkish construction industry acts as a locomotive by mobilizing more than 200 sub-sectors connected to it. Hundreds of professions are affected by this sector. When we think of building a residential site, while this site is being built many industries in which many materials are used are affected such as cement, ready-mixed concrete, ceramic, glass, brick, pipe, iron steel, plastic paint, wood, roofing materials, heating-cooling-ventilation, lighting, elevator, kitchen and bathroom furniture, insulation, and natural stones. Other contributions of the construction industry to the economy can be listed as follows:
- Provides the necessary infrastructure for the production of other goods and services
- Supports employment with intensive use of labor
- Contributes to economic growth
- Contributes to the social and economic well-being
The core of the construction industry is housing manufacturing. The Turkish housing industry has developed tremendously in the last 10 years and has managed to attract the attention of the whole world. In Turkey, especially high-quality and luxurious residences built in Istanbul are attracting foreign investors. If you are considering investing in Turkey, Diyar Turk Real Estate is always ready to help you with its professional and experienced team. The services we offer to our clients as Diyar Turk Real Estate are:
- We listen to our clients and offer the most suitable real estate in line with their wishes with the best price guarantee.
- We pick up our clients from their hotels and organize a real estate tour and enable them to see the real estates they are interested in.
- We help with transactions such as getting a tax number and opening a bank account.
- We propose a reliable lawyer to support your legal process in Turkey.
- We help you with your title deed transfer and real estate valuation report.
- We help you make subscriptions such as electricity, water, natural gas, and the Internet required for your flat usage.
- We help you with your compulsory real estate insurance transactions.
- We advise on the interior furniture design and furniture purchasing process of your home.
- When you want to resell or rent your purchased real estate, we put it up for sale or rent it for you.
Please do not hesitate to ask any questions you may have. You can contact us via our website or email@example.com e-mail address.