Smart Money Is Pouring Into Turkey Real Estate

 

The economic crisis which has affected most countries in the world directly impacted the real estate prices. Investors in the real-estate sector are so concerned about the current situation, that they are pulling out their investments. They are now looking for markets where their money can be invested, which are safe and stable.

This trend is most noticeable in European countries, which have been hit the hardest by the economic turmoil. There is, however, one country in Europe that has been relatively spared the worst of the economic turmoil that has affected most of its neighbours. Turkey is one of the countries that has remained relatively safe from the economic crisis. The real estate market in Turkey even benefited.

What has been the Turkish Real Estate's benefit from this situation?

Turkey's stable and thriving economy became a beacon of hope for real estate investors from other European countries looking for a secure place to invest their money. Foreign investors used this opportunity to buy property in Turkey. The rules for the Turkish residence permit prevented them from staying in the country longer than three months. The Turkish government quickly identified this obstacle and acted swiftly by relaxing the rules on visas and residence. The Turkish government acted quickly to ease the visa and residence rules. This allowed foreign investors to stay longer in Turkey, allowing them to purchase real estate without any issues.

The Turkish government's actions have opened the door to a flood of foreign investment that has surpassed previous records within a few months. This trend is expected to continue in the future, as economic turmoil continues elsewhere in Europe.

The role of Arabs in Turkish Real Estate

In recent years, Arab investors have also become interested in Turkey real estate. Investors have begun looking for safe countries to invest in after the Arab uprising. The Arab uprisings have liberated the Arab people and they have been prompted to purchase properties abroad. Dubai, in the UAE, was initially the best place to buy property. In a short time, Turkey has also become a major player. The relaxed visa and residence permit laws have encouraged companies from GCC Arab Investors, to purchase property in Turkey.

What Turkish Real Estate Companies, Developers and Builders think about this

Real estate companies and developers in Turkey are thrilled that the Turkish government is giving them an opportunity to attract foreign investment. The majority of companies have publicly praised the Turkish government and its commitment to making the country's economic system a beacon for the rest of the world. They want the government, however, to lower further the restrictions placed on foreigners who come to the country. They suggest that the period of stay for foreigners should be increased from 3 months to 5-10 years. They believe that Turkey can boost its economy in the current conditions and become a major economic force, as Arab investors show a keen interest in purchasing properties in Turkey. The proposed changes in laws will help Turkey attract more investors who are interested in buying properties and bringing new business opportunities with them.

Does the investment really deserve this much?

Some people may think that the views of Turkish developers are misguided. Foreign investment has been a great asset to the Turkish economy, which is currently enjoying a golden period. These numbers support their claim that Arab investors who are buying properties in Istanbul would be willing to purchase more if rules were relaxed. Reports claim that only in May of last year, foreign investors invested $1.1 billion in Turkish real estate Real estate turkey. This is four times more than the amount of investment in 2011. This investment was mainly from Arab and GCC nations and is just the beginning. There is a good chance that if the rules were eased a little more, investors would start to invest in the long-term as well. This could mean even larger investments.

What lies ahead

The Turkish government has a reluctance to increase the stay period for foreigners because they value the Turkish citizenship highly and do not wish to lose it anytime soon. The government believes that it will only ease the rules a little bit at a time and monitor the results of investments. The government will make changes to the system if the studies prove that investments in real estate are increasing as a result of the eased laws. If the laws are loosened enough to grant Turkish citizenship to investors, the Turkish real estate industry is likely going receive an influx of investments in the near future. The investors would be very motivated to purchase more property in Turkey, which would result in even more investment.

Place Overseas offers Property in Turkey

Discover who is purchasing real estate in Turkey, and why. What's happened to the money that was invested in New York, London, and Paris? Where is it now going? Who benefits now? Wake up and smell that coffee. A new power is emerging, and it's happening very quickly. Grab your share from this waking giant now before it's too late.