In recent years, Turkish citizens have been packing their bags – but not just for a vacation. They’re looking abroad for real estate investments, with Dubai and Greece emerging as the top destinations. But what’s driving this surge? Is it the lure of golden visas or just the promise of a better return on investment? Let’s break it down.
Rising Property Prices In Turkey Lead To Real Estate Investment In Dubai
One of the key reasons behind this foreign property investment trend is the increasing property prices in Turkey. With soaring costs and a squeezed rental yield, Turkish investors are seeking greener pastures abroad. The returns on local real estate are no longer as lucrative as they used to be. This is pushing many to look beyond their borders to secure a better deal. So, instead of waiting for that magical Turkish property market to bounce back, many are shifting their focus to international opportunities.
Golden Visas And Attractive Foreign Markets
Now, let’s talk about those golden tickets – the golden visa programmes. These offer foreign investors residency rights (and sometimes citizenship) in exchange for property purchases. Dubai, with its tax-free appeal, is the front-runner here. But Greece is also pulling in its fair share of Turkish buyers, offering stunning properties and visa benefits to those willing to invest. According to Bayram Tekçe, chairman of the Real Estate Services Exporters Association, Turkish citizens are willing to spend an average of $500,000 per property. That’s a hefty sum, but it’s paying off.
The Dubai Charm: Luxury, Yields And No Tax Hassle
Why Dubai? Well, it’s no secret that Dubai’s real estate market has some serious attraction. Özden Çimen, CEO of Parcel Estates, highlights Dubai’s attractive rental yields and tax-free investment options. These benefits are a big draw for both individual and corporate investors alike. Dubai’s rapidly growing infrastructure and luxury lifestyle have made it a hot spot for anyone with an eye on global investment. And with the right kind of investment, you can enjoy both high returns and a tax-free haven.
Also Read: After Abu Dhabi, Dubai Announces A Golden Visa Scheme For Yacht Owners
Turks Are Taking Their Investments Global
The Turkish shift to overseas real estate is here to stay. Whether it’s the allure of tax-free gains in Dubai or the charm of Mediterranean life in Greece, Turkish investors are spreading their wings. In fact, Turkey is expected to be one of the top five countries investing in Dubai’s real estate market in 2025. So, if you’re considering an international property investment, don’t be surprised to see Turkish investors already there, ready to make their mark.
Cover Image Courtesy: Canva Stock Images
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