Turkey draws investors – Bayrock Group’s Tevfik Arif and Trump are on the list
Turkey’s real estate market has become a hotspot for foreign investors. Among the names, you can find some familiar ones like Donald Trump and Tevfik Arif, the founder of the Bayrock Group, The legendary footballer Cristiano Ronaldo and Jennifer Lopez.
There are some considerable reasons to invest in the Turkish market, celebrities or not. While investors who are into art and culture will find interest in the diversity and folklore of the country. Other smart investors will look at the country’s stable economy and continuous population growth.
Hollywood celebrities like Donald Trump and Tevfik Arif, the founder of the real estate development firm Bayrock Group, are some of the names that are drawn to the country’s luxurious opportunities.
Let us have a look at some of the initiatives.
Photo by Smuldur
The Turkish real estate market investment benefits
if you are looking for a stable and lucrative investment, Real estate in Ankara, Istanbul or Izmir may be a good option.
The Turkish economy is one of the fastest-growing economies globally at the moment. As a result, it is considered the perfect place for investors to capitalize on property values that continue to rise.
The country’s real estate market is one of the most diverse in the world. There are many options available for either holiday homes or investment properties.
There are still relatively low prices in Turkey’s property market, making it an appealing investment option for those looking for a great bargain. Investors can purchase apartments in prime locations for a fraction of the cost of properties in other countries.
Turkish properties are safe, and the country’s economy is strong. This makes it a compelling place to do business as well as provides investors with peace of mind.
Aside from being inexpensive, buying property in Turkey comes with significant tax benefits.
While in most countries, a property owner pays tax after five years of holding the property, in Turkey, there is no capital gains tax to pay. This enables investors like Trump and Bayrock Group founder Tevfik Arif to profit from the sale of their properties without being burdened with additional taxes.
Donald Trump and Tevfik Arif were early to recognize the financial potential in Turkey
Tevfik Arif, the founder of Bayrock Group, moved to Turkey in 1993. He is considered one of the first foreign investors to take notice of the country’s potential.
He opened the Labada Hotel in Antalya. There, he became the driving force behind the all-inclusive hotel concept, an idea that has grown steadily ever since it was conceived.
In 2010, Donald Trump built his towers in Istanbul.
one of the buildings is occupied by offices. The other one contains over 200 apartments. Besides a wine cellar and spa facilities, the building also has a gym, an indoor pool, and floor-to-ceiling windows.
There is also an indoor pool, gym, and a beauty center in the office building, where employees can enjoy the luxuries of Trump’s building.
In the recent past, several high-profile celebrities have followed Tevfik Arif’s Bayrock group and purchased properties in Turkey, besides Donald Trump: Hollywood stars Brad Pitt and Angelina Jolie, who purchased a home outside of Izmir, and footballer Cristiano Ronaldo, who snapped up a villa on the Mediterranean coast near Izmir in 2015.
What do Donald Trump, Bayrock Group’s Tevfik Arif, and Other VIPs find in Turkish Real Estate?
In recent years, the Turkish government has made significant progress in improving its economy and facilitating the entry of more foreign investors. Turkey has therefore become one of the hottest real estate investment spots in the world.
In order to better understand why people are investing in Turkish real estate, here are a few key reasons:
- In terms of culture, Turkey is an extremely diverse country. There are a significant number of ethnic groups and cultures in Turkey, which is on the border between Europe and Asia.
- Turkey’s currency is still relatively cheap compared to other currencies, which means that property prices there are very affordable.
- The Turkish real estate market has grown extremely fast in recent years, with prices rising year by year. The opportunity presented here is ideal for investors who are looking for a way to make money by buying property in Turkey now and then being able to resell it later at a higher price.
- Lately, the Turkish government has loosened its visa requirements for foreigners, investing in Turkish real estate even more applying.
- Turkish companies have been investing heavily in infrastructure in order to support economic growth in the country. Those efforts attract foreign investors, making Turkey one of the more attractive places for businesses to operate.
There are a variety of reasons why people invest in real estate. It is a great way to gain income from rental properties, like apartments, shops and offices. It is also a good idea for investors to spread their assets worldwide to secure their retirement.
Whatever the reasons and motives may be, it is obvious that the interest in Turkish Real Estate is increasing. It seems so, especially if you follow the financial moves of celebrities and business people like Donald Trump and Bayrock Group’s Tevfik Arif.