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Feb 5, 2023

Gulf vs Turkey Real Estate: Prices and Features

The concept of real estate investment means purchasing a residential unit or entering as a partner in a real estate, administrative, or commercial project. Investments in real estate are among the most successful investments ever, it is one of the safe ways to save and increase money.

Investment operations, whether buying or selling, are carefully and comprehensively studied based on accurate statistics that study the state of the market, so real estate investment results are always 100% successful.

Real estate investment is part of investment in general, but it has several forms that suit the inclinations of investors and the money they own.

Forms of real estate investment include:

  • Purchasing a plot of land. 
  • Purchasing an apartment in a building. 
  • Purchasing a villa. 
  • Purchasing a building, whether residential, commercial, or administrative. 
  • Purchasing an entire floor in a building. 
  • Entering into a partnership with a plot of land or carrying out the process of constructing a building on land that is not owned by you. 
  • Being a partner in establishing a property or a building.

Real estate investment in Turkey

Real estate investment in Turkey real estate is considered one of the most attractive options for both Turkish and foreign investors. Turkey has a distinguished strategic location between the continents of Europe and Asia, which makes it an exciting investment destination. Turkey real estate market has a great diversity of offerings, with a variety of properties available in different patterns, areas and locations, ranging from residential apartments and luxury villas to commercial projects, hotels and residential complexes.

Turkey is characterized by an active, developing and diverse real estate market that is witnessing continuous growth, thanks to the increasing demand for Turkey real estate by local residents and international investors alike. The Turkish government also provides interesting programs such as the program for obtaining Turkish citizenship through real estate investment, which attracts more international investors to the Turkish real estate market.

In addition to the lucrative financial returns, Turkey real estate investment provides opportunities to obtain real estate residence permit, which increases the attractiveness of the market for international investors. Due to these opportunities and the wide availability of affordable Turkish real estate, real estate investment in Turkey is an excellent option for investors looking for profitable and stable investment opportunities in an active and diverse real estate market.

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Real estate investment between Gulf countries and Turkey

If we make a general comparison of real estate in the Gulf countries and Turkey real estate, it is certain that there are many differences between them. When talking about real estate investment, each country has its own advantages. The Gulf countries have their own character in this regard, which is represented by the nature of the Gulf cities, including their location, climate, real estate specifications, and different prices depending on the country’s economy, the extent of competition in it, and the proportions of purchasing power in the real estate investment sector.

Most of the people who intend to invest in the Gulf countries are from the Gulf itself and not as a tourist or a foreigner, and the reason for this is that there are many businessmen and money owners from the Gulf countries who do not want to completely change the place of their investment. Whoever is accustomed to the desert climate, high temperatures, and the nature of society there may find it difficult to transfer his investment to another place, a different society, a new investment system, and a different, cold climate.

As for Turkey, it is considered a magnet for foreign and Arab investors alike, and this is due to the many opportunities for real estate investment in it, as it attracts investors interested in working in the field of trade in its various forms, as well as investing in the industrial and real estate sector. One of the most prominent features of the Turkey real estate market is that it is an emerging and strong market. It is ranked second in the world in terms of activity and the strongest construction market in the world, while Turkey, in turn, ranks fourth in the list of the top ten real estate investment sites in the world. This is due to each of the components that it possesses, as well as the infrastructure, the Turkish government facilities, and the laws that attract foreigners and businessmen, whether they are Arabs or foreigners.

Advantages of real estate investment in the UAE

The UAE offers many investment advantages in the real estate sector, as its economy is considered one of the strongest economies at the regional and global levels, in addition to being one of the most famous tourist destinations. The advantages of buying a property for real estate investment in Dubai are:

  • The facilities it provides, as the state does not impose fees on income tax, which encourages many people to invest in it, even for those looking for options compatible with the least capital to buy real estate in the Emirates. 
  • The real estate market in the country is one of the most prominent global markets, as the Emirate achieves Dubai, Abu Dhabi, Sharjah, Umm Al Quwain, Fujairah and others are currently the best successes and advances. This is due to the low prices of goods and services, in addition to the availability of solid infrastructure, which greatly increases the demand for ready-made and residential properties. 
  • The country has architectural tourist attractions that have broken Guinness World Records, such as Burj Khalifa, which is considered the tallest tower in the world, in addition to... There are many distinctive artificial islands that provide the best residential properties, such as Palm Jumeirah, which is characterized by sandy beaches, waterfalls and beautiful oases. 
  • Dubai real estate provides high average rental returns that return huge sums to investors, due to its thriving economy that attracts many international investments.

Advantages of real estate investment in Turkey

The real estate sector in Turkey is considered one of the best competitive sectors at the level of major countries, as Turkey and its cities are famous for its economic strength, rapid development, and the great leap it has achieved on the economic level, making it one of the leading countries at all levels.

Positive factors of investment in the Turkish real estate sector include:

  • The possibility of benefiting from the urban renaissance in Turkey and the development of infrastructure. The Turkish government is constantly opening infrastructure projects such as hospitals, mosques, public transportation, squares, etc., in addition to the urban transformation projects that the government is carrying out from one region to another. 
  • People's need for housing, offices, and companies does not cease, especially with the increase in Turkey's population, and the large increase in the number of foreign expatriates and residents there, which means a guaranteed, safe and profitable real estate investment. 
  • There are no restrictions on foreigners to own real estate in Turkey, with the exception of four nationalities, like Syrians and Nigerians.
  • Investors who are prohibited from owning real estate in Turkey because of their nationality can own a property after establishing a company in Turkey, and buying the property before the name of the company.
  • Turkey grants real estate residence permit to those who buy Turkey real estate worth $200,000, provided to be purchased from a Turkish citizen.
  • Turkey grants the right to obtain Turkish citizenship to any foreign investor who purchases a property or group of properties worth $400,000 from a Turkish citizen on the condition that it is not sold for three years.
  • Real estate prices in Turkey do not change with the change in the price of the Turkish currency against foreign currencies. On the contrary, this is considered to be in the interest of the foreign investor. 
  • The rate of increase in the price of real estate annually is encouraging in many Turkish states, as the investment return on Turkey real estate is considered short-term compared to any other country.
  • There is no sudden decline in the Turkish real estate market because the Turkish real estate market depends mainly on purchases by Turkish citizens, not foreigners. The percentage of purchases by Turks versus foreigners is 93% to 7%.
  • The opening of new strategic projects in Turkey that will change the compass of global trade and economy, such as the new financial center in the Asian part of Istanbul, which was opened in 2023, and the New Istanbul Canal project, which is currently under study.

If you would like to know more about real estate investment in Turkey, do not hesitate to contact us via WhatsApp, here. The real estate consultant will contact you immediately.

 

 

 

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