For many investors, especially foreign investors, one of the best markets is the housing market in Turkey. The easy purchase of property in Turkey on the one hand and the acquisition of residence on the other hand has caused a large number of foreign residents will be interested to enter the housing market of this country.
By the 1980s, Turkey’s policies only encouraged people to build state-owned housing through government loans, but failed to help increase the number of properties in the country. The homes of the poor people remained the same as before, and the underlying conditions It did not get any better. In principle, Turkey’s policy did not improve the housing market, and the investment dropped dramatically.
The Turkish government provided loans for construction projects in order to increase the number of properties. These loans were also provided through social security funds and Turkish bank.
These policies led the government to have a better boom in construction, but still did not increase the percentage of ownership in the country. In the 1980s, the Turkish government granted loans to investors to build low-lying properties under the Turkish government’s condition. The houses should not be more than 100 square meters, but this was not successful, and in the same years the plan was dismantled.
As urbanization progressed, demand for housing increased and the government could not coordinate supply on demand. Of course, these policies led to some progress in the country, but now the Turkish government is implementing policies that could Increasing demand for housing, but demand for cheap and cheaper homes in the country is higher.
In addition to housing shortages, the country’s rising population has led to an increase in unemployment rates and a turmoil in Turkey. As the population increased, the Turkish government assumed that the country needed a lot of housing. In 2000, the country caused many investors to be encouraged to enter the housing market.
According to Turkish statistics, in 2000, more than 400,000 new units were needed. In the cities, Istanbul was one of the best metropolitan cities in the Middle East.
The policies adopted by the government to curb inflation have led to a reduction in the interest rate on loans, and conditions for building residential units have improved, and those who are middle and low income can use these facilities.
The development of tourism in the country was one of the important factors that led to the growth of the market in Turkey, but because the government was affected by the economic crisis, the private sector was responsible for the construction of residential units.
After the year 2000, the housing industry has been lagging behind with interest rates, and the housing market is now one of the most important economic sectors in the country.
After this economic crisis, to this day, the country has been able to maintain this prosperity, and due to private sector investment in the housing market, in addition to the increase in the number of homeowners in the country, the unemployment rate has dropped dramatically in that country.
In 2017, foreign investors have bought more than 22,000 residential units in the country, the best place for them to be the eastern border of the Black Sea. The city of Istanbul has been ranked first in the purchase of housing, followed by Antalya and Trabzon in Ranked second and third.