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A Brief Overview of Real Estate Developments in Turkey

Posted by Homistaadmin on July 5, 2023

As a real estate investor, you always want to be on the lookout for upcoming trends and developments. Staying ahead of the curve gives you a competitive edge and helps ensure that you’re making the best possible investments. That’s why we’re taking a look at real estate developments in Turkey.

Turkey has undergone something of a renaissance in recent years, with a booming economy and rapid development. This has led to a growing demand for real estate, both for Turkish citizens and foreigners looking to invest in the country. Here’s what you need to know about real estate developments in Turkey.

Economic Boom Leading to Increased Demand for Real Estate

Turkey’s economy has been growing rapidly in recent years, with a GDP of 7.4% in 2017. This trend is expected to continue, making Turkey one of the fastest-growing economies in the world. This economic boom is one of the main drivers behind the increased demand for real estate in Turkey.

As more people move to Turkey for work or leisure, they’ll need somewhere to live. And with the country’s ever-growing tourism industry, there’s also a need for more hotel rooms and other forms of vacation rentals. This increased demand is sure to lead to more development projects in the coming years.

Government Incentives Driving Development

In order to attract foreign investors, the Turkish government has been offering incentives for real estate development projects. These incentive programs have been successful in attracting developers from all over the world, resulting in an influx of investment into the country’s real estate market.

One such program is the “Build-Operate-Transfer” program which allows foreign developers to build infrastructure projects—such as hospitals, airports, etc.—in Turkey and then operate them for a certain period of time before transferring them over to the Turkish government. These types of programs are sure to result in even more development projects in Turkey in the future.

Turkey is undergoing rapid economic development, which is driving up demand for real estate both from Turkish citizens and foreign investors alike. The government is offering incentives for developers to build new projects, making now an ideal time to invest in Turkey’s burgeoning real estate market. If you’re looking for somewhere to invest your money, Turkey is definitely worth considering.

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