Surrounded by the sea on three sides, Turkey lies on the Black Sea coast at the crossroads of Europe and Asia. Hosting many international events, interesting visitors and international investors throughout the year, Turkey continues to attract the world's attention with its trade, tourism, finance, health, technology, culture and arts activities. In this article we have put together a brief compilation about the changes that the country has gone through from the past to the present, the development of the country and the values ​​that it has.

 

Economic growth in Turkey is commendable

Defined by the IMF as an emerging market economy with its developed agricultural, industrial, construction and service sectors, Turkey has grown to become the 19th largest economy in the world. Since the early 2000s, economic and social developments have revitalized the country's economy, increasing employment and income. Every step and support taken to keep the private sector afloat, sensible taxes and government grants have kept the economy growing day by day. In this way, Turkey has a strong and fast-growing private sector that plays an important role in its global position.

Turkey has the largest land area in Eastern Europe with 783,562 square kilometers. The wide and fertile land and the favorable climate stimulate the country's economy. In addition, its historical past and ancient ruins constantly increase the dynamism of the tourism sector, making the country a unique and natural habitat for foreigners. You can read our article titled Turkey on the UNESCO World Heritage List for information about the country's historical background and values.

Youngest population among European countries

With a population of 83 million, Turkey has the youngest population among European countries. With 55% of the total population being under the age of 35, the country is ideal for all types of development.

The urban population accounts for 90% of the total population. Istanbul is the country's largest city with a population of 18.4%. Istanbul is followed by Ankara, the country's capital, as the second largest city with 5.5 million inhabitants.

Europe's most attractive investment point

Turkey has become a global business hub favored by investors, with high levels of foreign capital accounting for 27% of the country's assets in the financial sector.

In 2018, EY Europe's Attractiveness Study showed that Turkey is the 7th most popular country in Europe in terms of foreign direct investment (FDI). According to statistics, the volume of international capital investment in the country has increased in recent years; While this number was 5,600 in 2012, it rose to 65,533 at the end of 2018.

A total of 7.7 million apartments were sold in Turkey between 2013 and 2018. The numbers saw a 14.7% increase, with a total of 1.35 million home purchases in 2019 alone. In 2019, foreign home buyers in Turkey bought 45,483 homes compared to the previous year. International property buyers are also driving the Turkish property market lately even during the pandemic. There are some studies showing that foreign investors want to stay in Turkey after buying property. These surveys prove that investing in Turkey is a reliable option and foreigners trust Turkey's economy.

Istanbul is at the top of the international real estate market with 20,857 houses; Antalya follows Istanbul in the international real estate sales statistics as the second province with 8,951 real estate sales. However, some cities in Turkey like Ankara, İzmir, Bursa, Kocaeli and Mersin offer higher investment opportunities compared to Istanbul. The potential of these cities should also be evaluated with new urban transformation projects, intertwined with the natural environment, waiting to be discovered. In Turkey there are 23 cities with more than one million inhabitants.

Turkey has a strong global real estate market with its well-organized dynamics. The competing interest of investors from all over the world increases the efficiency and vitality of the sector day by day. According to international real estate sales in 2019, the top 20 countries with the highest purchases in the sector are: Iraq, Iran, Russia, Afghanistan, England, Libya, Sweden, Kuwait, Germany, Jordan, Azerbaijan, Palestine, Qatar, Ukraine, USA, Saudi -Arabia, Kyrgyzstan, Egypt, Yemen and Lebanon.

Air transport with a developed network with new routes

The Turkish air transport sector gained momentum with the increase in the number of airlines, and the number of aircraft and seating capacity increased significantly. These rapid developments therefore require new ways to be better connected to the whole world day by day. Now there are direct flights from various cities to more than 250 cities around the world. It is possible to find direct flights from more than 15 metropolitan cities in Turkey to cities abroad.

With its economic development that strengthens the real estate market day by day, its excellent strategic location and many other advantages, Turkey offers great opportunities for those who want to invest and live. Being guided when buying real estate by a global real estate company that dominates the local market is now an increasingly attractive and safe route. With our comprehensive services, we confidently guide our customers to purchase real estate in Turkey. If you have any questions about the Turkish real estate market, contact us now!