The ownership of overseas properties can be a tempting prospect that is laden by many risks, one of which is losing access to one’s property in the unlikely but unfortunate incidents of conflict. Recently, the rift between the Gulf Cooperation Council countries and Qatar has led to a series of unfortunate events, resulting in the expulsion of Qatari citizens from three Gulf states. The expulsion of the citizens of Qatar has not only disrupted the careers, studies and personal lives of many citizens who had chosen to live, work or settle in a neighbouring state, but it also prevented them from accessing properties and investment they had made within the antagonistic states. Situations like these can cause grave mistrust for investors, who possess the capital to invest in a growing market, but not the faith in governments.
Citizenship through investment schemes are one of the many ways in which such risks can be mitigated. Many countries around the world, particularly in Europe, offer such prospects to investors. Turkey has recently jumped the wagon of capital-attracting countries with its new law offering a pathway to citizenship for foreign investors, who can bring in a sum of $1,000,000 invested for a minimum of three years in property. While the same law is cast wide to attract entrepreneurs who will set up businesses and create jobs; the focus for us at Key Invest is to facilitate that opportunity of investment through our portfolio of properties in prime-locations.
Investment in Istanbul property is a far-sighted approach to financial independence and security. Whether a property is bought for the purpose of generating income through rent; as a holiday or retirement home; or to simply live in, it is crucial to make decisions when buying a home that account for the property’s current price, location and the possible appreciation of its value with time. A survey of the standing of Turkey’s real estate market shows how the country’s economy, which was not as hard hit by the last financial crisis, has managed to grow by 18% in 2016.
In addition to its noted growth, the real estate market in Turkey is benefiting from the infrastructure development that will soon see Istanbul connected through an overstretched highway to other major cities that will now become more accessible. The new highway will cut short the distance and travel time between Istanbul and cities like Izmir and Bursa, with the new bridge being constructed not far away from Sariyer easing congestion and traffic, as well. Another plus for Turkey is its rapid response to the 1999 earthquake, which had witnessed a complete overhaul in the construction outlook in Turkey, resulting in new buildings made earthquake-resistant. Old buildings, as well, have been targeted with new maintenance measures to increase their durability and safety against earthquakes.
Turkey’s beautiful four-seasoned climate; its hospitable population and its location as a gateway between the East and the West has made it a long-time favourite holiday destination for tourists from all over the world. One could be sunbathing in one part of Turkey and jet-setting the following day for a ski getaway at another part – all in a matter of hours! The mouth-watering cuisine that reflects living traditions and cross-cultural encounters from time immemorial continues to infuse the lively cities that only manage to go on through the night to provide what one friend describes as an ‚utterly beguiling‘ concentration of nightlife.
So, friends, come to Turkey! Come explore Turkey and make this enchanting place your home!