By Justin Mays:
One of the main reasons investors are interested in buying commercial properties is the earning potential. Residential and commercial are both great to invest in but what sets commercial properties apart is the high financial returns they offer buyers.
Turkey is known for its beauty, diversity and hospitality. But that’s not all; its position as a bridge between Asia and Europe has fascinated many, and foreign investors are taking advantage of this status by purchasing commercial units in prime locations all over the country.
This article will outline what commercial real estate is and all the reasons for investing in commercial properties in Turkey.
What Is Commercial Real Estate in Turkey?
Commercial real estate includes properties that are used to earn capital. Commercial properties include:
- Office Buildings
- Retail Stores.
- Apartment Buildings.
- Warehouses, etc.
- Mixed-use Properties (for example, home-office buildings)
Retail stores must be located in areas with high foot traffic to grab potential customers. Hotels are some of Turkey's most lucrative commercial properties because of the thriving tourism industry.
Why Invest in Commercial Properties in Turkey
Here is a list of reasons why you should consider commercial real estate in Turkey if you are interested in investing in local properties.
Turkey as a Eurasian Country
Turkey’s geographical location is unique in the world since it sits on two continents and acts as a gateway to different global markets. It is impossible for commercial investors not to tap into the Turkish commercial real estate market to benefit from the affordable properties available.
The country also has an educated young population and plenty of qualified labor, prompting many investors to buy commercial real estate to run their businesses.
High Income Potential
Many choose commercial properties over residential real estate because of high-income potential. Commercial properties have the potential to bring impressive annual returns based on the area of the property.
The commercial real estate market in Turkey is diverse. While the returns they offer may differ from city to city, investing in commercial units in major cities is vital for a secure investment.
Easy Property Maintenance
The tenants of commercial properties pay huge attention to the maintenance and appearance of the commercial property. They have to make sure that the storefront is presentable, so they don’t lose business.
As a result, property owners do not have to worry about regular property maintenance, while the commercial tenant pays the cost of maintenance and repairs. Commercial tenants are also much more reliable than residential tenants since their livelihood comes from the property. Hence, they ensure that the property is in excellent shape and always have great relations with the owner.
Rapidly Developing Infrastructure
Turkey’s economy has been improving rapidly in the last few decades, and the infrastructure is one of the most modern in the world. The Turkish economy grew 5.4% during the 2022-2021 period.
With its rapidly growing population, Turkey has initiated many mega projects and has the most innovative health and transport facilities for its residents.
Highly Developed Industries
The tourism industry leads the way among all the local industries in Turkey. In 2021, Turkey received 24.7 million foreign tourists. This has created a massive demand for accommodation, resulting in foreign investors purchasing properties to rent out for consistent income and diversifying their property portfolio simultaneously.
You can invest at least USD 400,000 in Turkish commercial or residential properties to get Turkish Citizenship. Many investors from Asian, European and Middle-Eastern countries have invested in the local property market to become eligible for a Turkish passport.
Need Professional Help?
Prime Property Turkey is one of Turkey’s top real estate consulting agencies. We provide our clientele with carefully curated property recommendations based on their requirements after a free consultation. And that’s not all! We give you expert advice on making the most profits from your real estate purchase.
We have a multilingual team to cater to various nationalities, and every purchase we make is followed by our after-sales services to assist our clients.
If you want to stay notified of lucrative real estate investment opportunities in Turkey, you can stay in touch with our team by filling out the contact form above.
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