What is the impact of the real estate sector in Turkey on the Turkish economy
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We hear a lot of people directing real estate investment in Turkey and buying real estate within it. If this indicates anything, it indicates the great value of the real estate sector in Turkey, but what is the impact of this sector on the economy? And why are investors attracted to it?
- What is the mechanism by which the real estate sector in Turkey was able to raise the Turkish economy?
Turkey has given a large number of foreign investors the opportunity to enter the Turkish real estate market and allowed them to own real estate in Turkey, and this had a prominent role in pumping new money into the Turkish economy and supporting the national capital, and therefore this matter brought back good results for the investor and the state At the same time, the Turkish economy was allowed to maintain its stability and even develop as well, as it was able to occupy an advanced rank and obtain the thirteenth number as a global ranking among other international economies. Certainly, Turkey aspires to progress more and more to become one of the most powerful economic countries in the world.
-Has the real estate sector in Turkey been affected by the recent health crisis?
The new Corona virus has had profound and eloquent effects all over the world, as this virus was able to affect all sectors, and not only human damage, but also had an impact on economic sectors of all kinds, and the real estate sector is not isolated from that, as it was for the interruption of air traffic and the suspension of Flights and the imposition of a curfew have a significant impact on the amount of supply and demand for real estate, but looking at the results, we will be surprised that the real estate sector in Turkey was able to achieve profits and prosperity during this period, contrary to expectations, and thus it was able to withstand this pandemic and contravene All expectations, and of course, this was the result of effort and strategic thinking to solve problems.
-Measures that contributed to the development of the real estate sector in Turkey:
There is a set of legislation and laws that have contributed significantly to the growth of the real estate sector in Turkey, which are:
* Facilities for owning real estate in Turkey by foreigners:
We note that Turkey abolished many conditions and laws that impeded the process of buying real estate in Turkey by foreigners, including the law of reciprocity, which allowed foreigners to buy a property in Turkey unless their country allowed it for Turks, and taxes were significantly reduced This is what encouraged them to choose Turkey for investment.
*The opportunity to obtain Turkish citizenship through investment:
The Turkish government has granted foreigners the possibility to apply for Turkish citizenship when buying a property in Turkey with a minimum amount of two hundred and fifty thousand US dollars, and he must keep this property for at least three full years without selling it so that he can apply for Turkish citizenship and Enjoy its many features.
* Establishment of many development projects:
One of the factors that attract foreign investors to invest in any country is the amount of interest in the development of this country. In Turkey, we find this matter clear and clear through the establishment of a large number of important projects aimed at improving services in Turkey and providing an honorable image of the country. We mention One of these projects is the Istanbul Water Canal Project, which was opened a short time ago and had a major role in relieving pressure and facilitating transportation and trade movement. It also mentions the medical city of Basaksehir, which is being provided with the latest technologies and devices to compete with international hospitals with attention to the staff Medical and health care personnel to be optimal.
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