Major news has recently emerged from the Turkish investment market! The Central Bank of the Republic of Turkey has announced a 325-basis-point cut to its benchmark interest rate, bringing it down to 16.50%. This move to further loosen credit for economic development has attracted significant attention from investors. In a statement released that day, the Central Bank noted that data indicates a continued moderate recovery of the Turkish economy and ongoing improvements in inflation.
It is worth noting that at the end of July, the Central Bank of the Republic of Turkey implemented its first interest rate cut since February 2015, reducing the benchmark rate by a record 425 basis points to 19.75%. Now, within a span of about two months, the Turkish government has taken action again. Experts had generally expected the Central Bank to cut rates by another 200 to 250 basis points; clearly, this latest cut exceeded market expectations. So, what impact will this rate cut have on the Turkish real estate market?
Benefits of the Interest Rate Cut for the Turkish Real Estate Market
Currently, in terms of exchange rates, the Turkish Lira is trending toward stability, creating opportunities for growth in the Turkish housing market and making it an increasingly attractive investment target for international investors.
According to new data released by the Turkish Statistical Institute (Turk Stat) on September 18, 110,538 houses were sold in Turkey in August, a further increase compared to the first few months of 2019, showing impressive performance. Additionally, it is worth noting that from January to August of this year, foreigners purchased over 27,000 homes in Turkey, an increase compared to the same period last year.
Furthermore, according to data from the Turkish Statistical Institute, the number of Turkish properties sold to international buyers has doubled since 2013. It is certain that Turkey has become one of the most promising real estate markets in Europe. Relevant experts state that with the Turkish government having canceled some policies that supported the tightening of the Lira, financial market conditions in Turkey are relatively favorable. This will add further momentum to the revitalization of the Turkish economy, and the interest rate cut will also stimulate the enthusiasm of prospective homebuyers who have been waiting on the sidelines.
Investing in Turkey: The Real Estate Immigration Program Is Highly Sought After
Turkey is located at the center of three continents—Asia, Europe, and Africa—and serves as an economic hub connecting a market of 1.7 billion people and a GDP of $27 trillion. It is a vital nexus linking Europe, Asia, and the Middle East. As an emerging economy within the G20, Turkey has seen steady economic growth over the past 14 years, and the economic outlook is very positive.
Recently, the international rating agency Standard & Poor's gave a positive assessment of Turkey's credit rating, and the new Economic Confidence Index released by the Turkish Statistical Institute (TSI) all point to the solid fundamentals of Turkey's economic development.
As an important component of overseas asset allocation, real estate investment is a preferred choice for many individual investors. Coupled with Turkey's excellent geographical advantages, broad reach, relatively sound legal system, well-developed infrastructure, relatively mature investment environment, and the support of the new real estate immigration policy, many investors are actively entering the Turkish market, making it increasingly popular. Currently, with the relaxation of Turkey's real estate immigration policy and monetary easing, it is the best time to enter the Turkish investment market. By purchasing Turkish real estate worth $250,000 or more, the whole family can obtain a passport from this major European country, which is highly sought after by many immigrant investors.
As a top 500 Asian brand, WorldWay Group, as one of the earliest immigration agencies to promote European real estate immigration programs, uses its forward-looking vision to partner with powerful Turkish developers to introduce various Turkish real estate projects to investors, such as Tianxi International, Edim Mansion, and the Istanbul Core Garden Apartments, which are currently the most popular projects on the market.
2019 Win-Win Project: Overseas Identity + Overseas Real Estate
Istanbul, Turkey (European Side)
Purchase Property Starting from $250,000
Obtain a Passport from a Major European Country
1
Tianxi International, Turkey
High-end residential building in the business hub of Istanbul's European side
Expansive views overlooking the beauty of Istanbul
Adjacent to two major CBDs, convenient transportation, within walking distance to the subway
Strong international community atmosphere, connected to large shopping centers
Finished, move-in ready properties with fast title transfer
2
Edim Mansion
Property within the radiation zone of the Istanbul Canal
Large, move-in ready properties on the European side of Turkey, suitable for both investment and self-occupation
Abundant educational resources, including international, public, and private schools
Subway-adjacent property, located in a high-growth population planning area
Neighboring shopping centers, city squares, and large parks
Friendly pricing, starting from $1,500 per square meter
3
Istanbul Core Garden Apartments
Meets the leasing standards of independent third-party multinational professional leasing companies
Reasonable price, fast title transfer
Managed by professional companies, saving the trouble of vacancy, rent collection, and maintenance
Turkey is a major geographical, demographic, and economic power in Eurasia among countries currently offering investment-based citizenship programs, and it is also a major G20 country offering a low-cost investment passport program! For those who want to participate in the Turkish investment market, purchasing property of no less than $250,000 allows the whole family to obtain a passport from this major European country, and the purchased property can be sold after three years! At the same time, for investors with such needs, depositing the equivalent of $500,000 in a bank operating in Turkey for 3 years can also grant you a passport from Turkey, an EU candidate country! Furthermore, holding a Turkish passport not only allows you to apply for a U.S. E-2 visa to enter the United States, but also allows you to apply for UK business and work visas to enter the UK. If relevant conditions are met, you can also apply for UK permanent residency and other benefits!
Immigrate to Turkey with WorldWay, the company that officially introduced the Turkish investment-based citizenship program to China, for peace of mind and reliability! Currently, WorldWay's October promotion for 18 immigration programs is in full swing! With many activities, discounts, and surprises, we welcome new and old customers to actively participate and seize the opportunity! Service Hotline: 400-138-2929
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*The above information is for reference only and does not serve as a basis for investment. Investment involves risks, and choices should be made with caution.*