Why Turkey?

    Turkey is quickly modernising and makes a key link between Europe and the Middle East. Not only has it got plenty of history and mystery but it’s got some good deals on Turkish property for sale too.

    Why buy a property in Turkey?

    Some Reasons to Choose Turkey for Buying a Property;

    Key Points in Favour of Buying Turkish Property are:

    Low property prices which are sometimes compared to Spanish property prices in the 1980’s

    Low cost of living

    Mediterranean climate of hot summers and mild winters some of the best coastal scenery in Europe, especially in the south west where the Mediterranean and Aegean Seas meet

    Turkey has gained solid economic growth over the last few years which has helped it to realise growing EU status. It’s been a Customs Union since 1996 and accession country since 2005

    Short flight times from European cities

    Lots of flights to popular, south western coastal resorts in winter and summer

    Mortgage reforms planned for 2008 will offer for the first time, mortgages at affordable rates. This milestone move will ‘open the market’ for Turkish and overseas property buyers and investors.

    Specific Turkish Property Buying Benefits Include:

    Strong property investment growth is predicted for Turkey as holiday operators and airlines increase tourist related activities

    As property demand outnumbers supply in several areas of Turkey combined with a large and increasing population of 70 million, the market is set to see significant property price increases.

    In fact, it’s predicted that some seven million homes will be required over the next 10 years.

    Turkey enjoys strong economic growth. In 2005, it became sixth in the world for GDP (gross domestic product) growth and economic growth for 2008, estimated at 6%, looks comfortably in reach.

    10 Reasons to Invest in Turkey

    1. SUCCESSFUL ECONOMY

     

    • Booming economy; more than tripling its GDP, reaching USD 851 billion in 2017, up from USD 231 billion in 2002 (TurkStat)
    • Stable economic growth with an average annual real GDP growth rate of 5.8 percent between 2002 and 2017 (TurkStat)
    • 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 (OECD)
    • 13th largest economy in the world and 5th largest economy compared with the EU in 2017 (GDP at PPP, IMF WEO)
    • Institutionalized economy fueled by USD 193 billion of FDI in the last 15 years (CBRT)
    • A dynamic and mature private sector with USD 157 billion worth of exports and an increase of 335 percent between 2002 and 2017 (TurkStat)

    2. POPULATION

     

    • A population of 81 million (2017, TurkStat)
    • Largest youth population compared with the EU (Eurostat)
    • Half the population under the age of 31.7 (2017, TurkStat)
    • Young, dynamic, well-educated and multi-cultural population

    3. QUALIFIED AND COMPETITIVE LABOR FORCE

     

    • Over 30.5 million young, well-educated and motivated professionals (2016, TurkStat)
    • Increasing labor productivity
    • Approximately 800,000 students graduate annually from over 183 universities (2016, CoHE)
    • More than 950,000 high school graduates with around half from vocational and technical high schools (2016, Ministry of National Education)

    4. LIBERAL AND REFORMIST INVESTMENT CLIMATE

     

    • The 2nd biggest reformer among OECD countries in terms of its restrictions on FDI since 1997 (OECD FDI Regulatory Restrictiveness Index 1997-2017)
    • Business-friendly environment with an average of 6.5 days to set up a company (World Bank Doing Business Report 2018)
    • Highly competitive investment conditions
    • Strong industrial and service culture
    • Equal treatment for all investors
    • Around 58,400 companies with international capital in 2017 (Ministry of Economy)
    • International arbitration
    • Guarantee of transfers

    5. INFRASTRUCTURE

     

    • New and highly-developed technological infrastructure in transportation, telecommunications and energy
    • Well-developed and low-cost sea transport facilities
    • Railway transport advantage to Central and Eastern Europe
    • Well-established transportation routes and direct delivery mechanism to most of the EU countries

    6. CENTRALLY LOCATED

     

    • A natural bridge between both East-West and North-South axes, thus creating an efficient and cost-effective outlet to major markets
    • Easy access to 1.7 billion customers in Europe, Eurasia, the Middle East and North Africa
    • Access to multiple markets worth USD 25 trillion of GDP

    7. ENERGY CORRIDOR AND TERMINAL OF EUROPE

     

    • An important energy terminal and corridor in Europe connecting the East and the West
    • Located at a close proximity of more than 70 percent of the world’s proven primary energy reserves, while the largest energy consumer, which is Europe, is located right to the west of Turkey, thus making the country a linchpin in energy transit and an energy terminal in the region

    8. LOW TAXES & INCENTIVES

     

    • Corporate Income Tax reduced from 33 percent to 20 percent (22 percent for 2018, 2019 and 2020)
    • Tax benefits and incentives in Technology Development Zones, Industrial Zones and Free Zones, including total or partial exemption from Corporate Income Tax, a grant on employer’s social security share, as well as land allocation
    • R&D and Innovation Support Law
    • Incentives for strategic investments, large-scale investments and regional investments

    9. CUSTOMS UNION WITH THE EU SINCE 1996

     

    • Customs Union with the EU since 1996 and Free Trade Agreements (FTA) with 21 countries (Ministry of Trade)
    • More FTAs underway
    • Accession negotiations with the EU

    10. LARGE DOMESTIC MARKET

     

    • 69 million broadband internet subscribers in 2017, up from 0.1 million in 2002 (ICTA, TurkStat)
    • 78 million mobile phone subscribers in 2017, up from 23 million in 2002 (TurkStat)
    • 62.5 million credit card users in 2017, up from 16 million in 2002 (The Interbank Card Center of Turkey)
    • 193 million airline passengers in 2017, up from 33 million in 2002 (TurkStat)
    • 38 million international tourist arrivals in 2017, up from 13 million in 2002 (TurkStat)