{"id":6055,"date":"2024-04-26T10:15:07","date_gmt":"2024-04-26T10:15:07","guid":{"rendered":"https:\/\/turkie.ir\/?p=6055"},"modified":"2024-04-26T10:15:07","modified_gmt":"2024-04-26T10:15:07","slug":"turkey-real-estate","status":"publish","type":"post","link":"https:\/\/turkie.ir\/?p=6055","title":{"rendered":"Turkey Real Estate"},"content":{"rendered":"<div readability=\"47.396231567449\">\n<p>\n    <span lang=\"EN-US\">Turkey is one of the most promising real<br \/>\n    estate markets in Europe, and the mantra &ldquo;location, location,<br \/>\n    location&rdquo; rings especially true for this country. Strategically<br \/>\n    situated at the crossroads of Europe, the Middle East, and<br \/>\n    Central Asia, and home to almost 81 million people, Turkey<br \/>\n    offers great opportunities for real estate developers and<br \/>\n    investors by combining a large construction sector with growing<br \/>\n    commercial and industrial output.<\/span>\n  <\/p>\n<p>\n    &nbsp;\n  <\/p>\n<p>\n    <span lang=\"EN-US\">Some key facts and figures in the Turkish<br \/>\n    real estate sector include:<\/span>\n  <\/p>\n<p>\n    &nbsp;\n  <\/p>\n<ul>\n<li>\n      <span lang=\"EN-US\">The real estate sector accounted for<br \/>\n      approximately 8.4 percent of GDP in the last decade. On the<br \/>\n      investment side, FDI inflows stood at USD 10.8 billion, with<br \/>\n      real estate and construction garnering&nbsp;USD<br \/>\n      \u06f4\u066b\u06f6&nbsp;billion (42.9 percent) of total FDI in 2017.<\/span>\n    <\/li>\n<li>\n      <span lang=\"EN-US\">Urban renewal and mega projects dominate<br \/>\n      the agenda for the foreseeable future, particularly in<br \/>\n      Istanbul. Some projects in the city include Marmaray, Canal<br \/>\n      Istanbul, Yavuz Sultan Selim Bridge, Eurasia Tunnel, 3-Storey<br \/>\n      Grand Istanbul Tunnel, and Istanbul&rsquo;s<br \/>\n      \u06f3<sup>rd<\/sup>&nbsp;airport.<\/span>\n    <\/li>\n<li>\n      <span lang=\"EN-US\">The Urban Renewal and Development<br \/>\n      initiative will encompass 7.5 million housing units. The<br \/>\n      initiative has a budget of USD 400 billion, with a large<br \/>\n      contribution coming from the private sector.<\/span>\n    <\/li>\n<li>\n      <span lang=\"EN-US\">According to the Knight Frank Global House<br \/>\n      Price Index, Turkey ranked 6<sup>th<\/sup>&nbsp;in the<br \/>\n      \u06f5\u06f6-location index in Q3 of 2017 in terms of the annual price<br \/>\n      growth index. Turkey saw a year-on-year increase of 11.1<br \/>\n      percent, and thus emerged as one of the top-performing<br \/>\n      housing markets in the world, ahead of Australia, Latvia, and<br \/>\n      India.<\/span>\n    <\/li>\n<li>\n      <span lang=\"EN-US\">The total number of houses sold in the<br \/>\n      Turkish property market reached&nbsp;1.4 million&nbsp;units<br \/>\n      in 2017; likewise, sales of real estate to foreigners began<br \/>\n      to increase following the abolishment of the reciprocity law<br \/>\n      in 2012. In 2017, 22,234 houses were sold to foreigners in<br \/>\n      Turkey, marking a year-on-year increase of 22.2 percent.<br \/>\n      Regarding house sales to foreigners, Istanbul was the<br \/>\n      top-performing province with 8,182 sales in 2017, followed by<br \/>\n      Antalya with 4,707 sales, Bursa with 1,474 sales, and Yalova<br \/>\n      with 1,079 sales.<\/span>\n    <\/li>\n<li>\n      <span lang=\"EN-US\">As of 2017 year-end, the existing Grade A<br \/>\n      office stock in Istanbul surpassed 5.3 million square meters<br \/>\n      across 249 office buildings. Annual gross leasable area<br \/>\n      growth in the office market was around 12 percent on average<br \/>\n      between 2010 and 2017. There is more than&nbsp;1.2<br \/>\n      million&nbsp;square meters of office supply under<br \/>\n      construction, and it is expected that the total grade A<br \/>\n      office supply will reach almost 7.1 million square meters<br \/>\n      gross leasable area by the end of 2020.<\/span>\n    <\/li>\n<li>\n      <span lang=\"EN-US\">\u06f4\u06f0\u06f1&nbsp;<\/span><span lang=\"EN-US\">shopping centers are operational in Turkey with a<br \/>\n      total gross leasable area of 12.2 million square<br \/>\n      meters.&nbsp;114&nbsp;shopping centers in Istanbul with a<br \/>\n      total gross leasable area of&nbsp;4.2 million&nbsp;square<br \/>\n      meters represent&nbsp;34 percent&nbsp;of the total leasable<br \/>\n      shopping center area in Turkey.<\/span>\n    <\/li>\n<li>\n      <span lang=\"EN-US\">According to JLL&rsquo;s Cross Border Retailer<br \/>\n      Attractiveness Index 2016, Istanbul is the<br \/>\n      \u06f6<sup>th<\/sup>&nbsp;most attractive market in Europe after<br \/>\n      London, Paris, Moscow, Milan, and Madrid.<\/span>\n    <\/li>\n<li>\n      <span lang=\"EN-US\">In spite of the growth in recent years,<br \/>\n      Turkey is still below the average of total leasable area per<br \/>\n      person compared to the European average. This indicates<br \/>\n      potential for further retail growth in Turkey.<\/span>\n    <\/li>\n<li>\n      <span lang=\"EN-US\">According to the Ministry of Culture and<br \/>\n      Tourism Directorate, Turkey has 3,641 graded hotels with a<br \/>\n      total of 426,981 rooms as of 2016 year-end. 5-star hotels<br \/>\n      account for 42.7 percent of hotel stock, while 4-star hotels<br \/>\n      secure a 24.8 percent share, and the 3-star segment makes up<br \/>\n      \u06f1\u06f2\u066b\u06f6 percent of the market share.<\/span>\n    <\/li>\n<\/ul>\n<p>\n    source:http:\/\/www.invest.gov.tr\n  <\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Turkey is one of the most promising real estate markets in Europe, and the mantra &ldquo;location, location, location&rdquo; rings especially true for this country. Strategically situated at the crossroads of Europe, the Middle East, and Central Asia, and home to almost 81 million people, Turkey offers great opportunities for real estate developers and investors by combining a large construction sector with growing commercial and industrial output. &nbsp; Some key facts and figures in the Turkish real estate sector include: &nbsp; The real estate sector accounted for approximately 8.4 percent of GDP in the last decade. On the investment side, FDI <span class=\"more-text\">&hellip;<\/span><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/turkie.ir\/index.php?rest_route=\/wp\/v2\/posts\/6055"}],"collection":[{"href":"https:\/\/turkie.ir\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/turkie.ir\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/turkie.ir\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/turkie.ir\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6055"}],"version-history":[{"count":0,"href":"https:\/\/turkie.ir\/index.php?rest_route=\/wp\/v2\/posts\/6055\/revisions"}],"wp:attachment":[{"href":"https:\/\/turkie.ir\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6055"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/turkie.ir\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6055"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/turkie.ir\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6055"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}