Turkey, noting significant progress with its developing economy in recent years, investments in construction and real estate sectors, is becoming a center of attraction for institutional and individual investors. In this process, the country offers significant opportunities to foreign investors who need to master local dynamics to make successful investment decisions. As Trem Global team, we are closely following developments in order to provide support to investors in real estate acquisition and investment issues, which are highly dependent on internal and external factors and have unique problems, with our experienced and industry-dominated staff. In order to meet the needs of our customers in Turkey, and to help them achieve successful results in investment decisions we present Real Estate Acquisition and Investment Guide in Turkey to the investors, where we provide sector-specific knowledge. The information in this guide is general, not social, tax or legal advice.
Turkey's most populous city of Istanbul, with reaching a population of 15 million 67 thousand 724 people, left behind 131 countries.
According to the Turkey Statistical Institute (TSI) data, In Turkey 1 million 375 thousand 398 residential sales were made in 2018. In June 2019, house sales to foreigners increased by 30.5% compared to the same month of the previous year.
Direct flights from Istanbul to 250 destinations, 22 direct transport capacity to capital cities within 2 hours. While it is predicted that the population will increase to 100 million 331 thousand 233 in 2040, 50 million 62 thousand 203 of this population will be men, 50 million 269 thousand 30 of it will be women.
Turkey's population is expected to reach 82 million 886 thousand 421 this year and 99 million 754 thousand 923 20 years later, Turkey's population will reach 107 million 95 thousand 998 people in 2060, 107 million 100 thousand 904 in 2080. Almost half of Turkey's population is under the age of 30.
According to the Central Bank of Turkey (CBT) data, 6 billion 534 million dollars in 2018 to Turkey in foreign direct investment inflows occurred. International direct investment capital inflows from Asian countries increased by 115 percent.
6.5 million residential units in Turkey is expected to be renewed within the next 20 years. This means that a sector of US $ 250 billion will be formed.
If important structural reforms carried out, Turkey's purchasing power parity is expected to be the world's 12th largest economy in 2030, 11th largest economy in 2050.
Secondary cities with investment potential outside Istanbul: Ankara, Izmir, Antalya, Bursa, Kocaeli and Mersin.
The number of tourists coming to Turkey is expected to exceed 50 million in 2019. While the number of tourists is expected to increase to 50 million this year, tourism revenue is expected to increase to 35 billion dollars. 70 million tourists in the next 4 years, 70 billion dollars in tourism revenue is targeted.
Urban renewal projects are strengthening Istanbul's real estate market.
According to brand value and brand power survey made by Brand Finance for the first time for Turkey's big cities, Istanbul took first place with a brand value of 131.6 billion dollars.
There are 22 cities with populations of over 1 million people in Turkey.