EU Process and Turkish Real Estate Price

EU Process and Turkish Real Estate Price

Turkey, together with the Ankara Agreement signed in 1964, started the process to become a member of the European Union. EU membership, which has been considered a strategic goal for more than 50 years, is a very valuable issue in Turkey’s foreign trade policy. In more than half a century, starting in 1964, Turkey has taken many steps towards EU membership. However, it is important to mention that foreigners are attracted to invest in Turkey not due to the EU negotiations, but because of Turkey’s successful economic expansion and stable growth. Therefore even if Turkey does not manage to join the EU, this would not affect the number of foreign investors coming here. As Turkey’s economic expansion grows better day by day, it becomes less significant for Turkey to join the EU.

It is possible to ensure economic and legal development in the process of Turkey’s EU membership, while foreigners have benefited from wider investment opportunities. In this sense, very serious increases in real estate prices have been observed in Turkey. By investing in Turkey, you can capture profitability in the medium and long term from the rising prices.

Where to Invest in Turkey?

Although Turkey has successfully worked on EU membership, it has not yet been included in the Schengen Area. But many attractions in Turkey receive higher investment than cities located within the borders of the EU. Istanbul is the city that comes first when you want to invest in Turkey.

Foreigners buying real estate in Turkey are usually from 2 main categories. The first category is Individuals who buy properties reside here or have a holiday home and the second one Individuals who buy properties for investment. Foreigners from the first category are usually from European countries such as the UK, Germany, Scandinavian countries, and Russia and from Middle Eastern countries such as Iraq, Kuwait, and Saudi Arabia. Individuals from these countries buy permanent homes from areas such as Antalya, Fethiye, Bodrum, and other seaside areas, and enjoy having affordable holiday homes. Others choose Istanbul, which is the biggest country in Turkey, to reside in the country. For the second category, foreigners are usually from different countries from the US, Russia, Middle East, Europe, and China and choose real estate for investment purposes. These investors usually choose big cities such as Istanbul, Ankara, and Bursa to get the most profit from their investments.  

Due to Turkey’s economic expansion and easy investment framework, where foreign investors can put their money in and out of Turkey without restrictions. Although foreigners invest all around Turkey, Istanbul is the main city, where the number of investors is the highest. Istanbul is a very valuable city that has hosted many civilizations, as well as one of the centers of modern life. In this context, Istanbul’s preference is very valuable for foreign investors. In addition to Istanbul, it is also necessary to mention investment opportunities in cities such as Ankara, Izmir, Antalya, and Bursa.

Is Turkey a European or Eastern Country?

Turkey is considered a transitional country due to its geographical location on both European and Asian sides. When you evaluate the social and cultural wealth of the country together, it is not possible to evaluate Turkey as an Eastern or Western country. Turkey can be easily identified with Southern Europe, but at the same time, it can be identified with the Middle East. Therefore it is not simple to identify Turkey with one area, as it has socially, culturally, and racially from everything. Especially when investment opportunities are evaluated, valuable opportunities are waiting for investors in Turkey. It is necessary to express that Turkey is neither an Eastern or Western country.

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