Why Invest in Istanbul
Right now Turkey is a rising star in the world of overseas property investment.
An increasing number of people from various parts of the world are moving to Turkey to start a new life, to work or even to find peace of mind for their retirements. The country has developed dramatically in the last ten years and the pace of progress in certain fields is nothing short of astonishing.
Most of Turkey’s new residents hail from countries like the UK, Germany, Ireland, Denmark, the Netherlands, Norway, Austria, Belgium, France and the USA, Qatar, Dubai, Kuwait and their neighbours.
With its unique geographical location combined with a rich and diverse history, right in the cradle of many different civilizations, Turkey is a privileged place to live for expatriates and their families.
Turkey is the preferred second city for Investment (Reidin)
Good News to Foreign Investors
In May, after the enactment of the Law of reciprocity, foreigners acquiring property in Turkey will have an automatic 1 year residence permit. Yesterday, the Law on Foreigners and International Protection was published in the Official Gazette, a short-term residence permits to foreigners in Turkey was replaced thus bringing the 3 month permit to a 1 year residence permit.
After the Reciprocity Act passed ,The Development Companies wanted the residence permit issue to be resolved. With the extension of the residence permit the developers assume it will increase the real estate sales and generate more Tourism income for Turkey.
Also this :
1. Successfull Economy
Booming economy; more than tripling its GDP, reaching USD 772 billion in 2011, up from USD 231 billion in 2002 (TurkStat) Stable economic growth with an average annual real GDP growth rate of 5.2 percent over the last 9 years (TurkStat) Promising economy with a bright future as it is expected to become the fastest growing economy among the OECD members during 2011-2017 with an annual average real GDP growth rate of 6.7 percent (OECD Economic Outlook No. 86)
A population of 75 million (2011, TurkStat)
Largest youth population compared with the EU (Eurostat)
3. Centrally Located
A natural bridge between both East-West and North-South axes, thus creating an efficient and cost effective outlet to major markets.
Large domestıc market
Access to multiple markets worth USD 25 trillion of GDP (TurkStat)
4. Istanbul was the European Capital of culture 2010
5. Mortgages now available to EU & Foreign buyers