The Rising Impacts of the Real Estate Investments In The Turkey

Turkey’s real estate market is one of the most promising in Europe, and the adage “location, location, location” is especially appropriate in this country. Turkey, strategically located at the crossroads of Europe, the Middle East, and Central Asia, and home to 84 million people, provides excellent potential for real estate developers and investors by combining a big construction sector with expanding commercial and industrial output.

Inflows of foreign direct investment into Turkey were USD 7.6 billion in 2020, with real estate accounting for USD 5 billion, accounting for 54 percent on average of total FDI.

For the foreseeable future, urban revitalization and megaprojects will be top priorities, notably in Istanbul. Marmaray, the Yavuz Sultan Selim Bridge, the Eurasia Tunnel, and Istanbul Airport are only a few of the city’s initiatives.

8 million housing units will be included in the Urban Renewal and Development plan. The plan has a Nearly $ 450 billion budget, with the business sector providing a significant contribution.*

The total number of residences sold in the Turkish property market reached 1.5 million units in 2020; similarly, sales of real estate to foreigners began to expand when the reciprocity law was repealed in 2012. In Turkey, 42,824 properties were sold to foreigners in 2020. In terms of home sales to foreigners, Istanbul led the way with 20,176 sales in 2020, followed by Antalya with 8,845 sales, Ankara with 2,874 sales, and Bursa with 1,730 sales.*

By the end of 2020, Istanbul’s current Grade A office stock would have topped 5.9 million square meters. More than 2 million square square meters of office supply, including the Istanbul International Finance Center (IIFC), are under development, and the total grade A office supply is expected to reach about 8.4 million square meters gross leasable area by the end of 2022.*

In Turkey, 449 shopping complexes with a total gross leasable area of 14.7 million square meters are open for business. Istanbul’s 138 retail centers, with a total gross leasable area of 5.4 million square meters, account for 37 percent of total of Turkey’s total leasable shopping center area.*

In 2020, the total logistics real estate supply in Istanbul and Kocaeli was 11 million square meters. In 2020, 334,000 square meters of logistics leasing agreements were completed, nearly tripling the figure from the previous year’s conclusion.*