How could the Turkish elections 2023 affect the real estate market?

The Impact of the Turkish Election 2023 on the real estate market in Turkey

The pre-election period is a golden opportunity for investment in general and real estate investment, in particular, The extent of this impact depends on various factors such as the policies of the new government, the overall economic situation, and the level of investor confidence.

1. Investor Confidence: Elections can influence investor confidence and market sentiment. Usually, the elections are perceived positively by investors, it leads to increased confidence in the stability and economic prospects of the country. This could potentially attract more domestic and foreign investments in various sectors, including real estate.
2. Government Policies: The policies and agenda of the elected government will significantly enhance the real estate market. For example, if the new government implements policies that promote infrastructure development, urban renewal, or incentives for foreign investors, it could have a positive impact on the real estate market.
3. Market Demand: Political changes influence the demand for real estate. For instance, if the elected government focuses on job creation, economic growth, or urban development, it can lead to increased demand for residential, commercial, or industrial properties. Conversely, a lack of confidence or political instability may result in reduced demand.

In general, a stable government and a favorable economic environment can attract more investment to the real estate market. Investors tend to have more confidence in Turkey due to the economic growth and stability, which can lead to an increase in demand for properties.

The Impact of the Turkish Elections 2023 on the land market in Turkey

The pre-election period may be an irreplaceable opportunity to buy investment lands and achieve very high profits immediately after the elections.

The impact of Turkish elections on the land market in Turkey is similar to the impact on the real estate market, as government policies and regulations directly influence the land market and its dynamics. Here are some potential impacts:

1. Land Use and Zoning Policies: The new government may prioritize certain types of development, such as the Istanbul Canal, or industrial projects, which can influence the demand for land in specific areas.
2. Infrastructure Development: Governments may introduce new infrastructure projects or modify existing ones, such as roads, highways, bridges, airports, or public transportation systems. These developments can enhance the value of land in areas where infrastructure improvements occur, attracting investors and driving up land prices.
3. Foreign Investment Policies: The stance of the new government towards foreign investment can influence the land market. Policies promoting foreign ownership of land can enhance demand and prices. For instance, if a government introduces regulations that ease foreign investment, it may attract more international buyers interested in acquiring land in Turkey.
4. Regulatory Changes: Changes in land-related regulations, such as land acquisition procedures, taxation policies, or building codes, can affect the land market. Governments may introduce new rules or modify existing ones after elections, to facilitate land transactions, development projects, and land prices.

Turkey always offered favorable economic policies and is likely to attract more investment to the land market.

As wise people say the best time to buy property is yesterday, that’s why we always advise investors not to miss the current opportunity.

What will happen to Turkish citizenship after the 2023 presidential elections?

Historically, changes in government can lead to adjustments in citizenship policies, including eligibility criteria and requirements. Governments may introduce new laws or amend existing ones to reflect their priorities and objectives. Therefore, it is possible that the 2023 presidential elections could result in changes to Turkish citizenship policies, but the specific nature and extent of those changes cannot be predicted without knowledge of the future political landscape. 

Is real estate residency expected to be affected after the 2023 Turkey elections?

Changes in government or shifts in political priorities can lead to adjustments in residency rules or real estate laws. Political events such as elections can sometimes have an influence on various aspects of a country, including real estate policies and regulations. However, the specific impact of the 2023 Turkey elections on real estate Turkish residence would depend on the policies and agendas of the new government, which are uncertain at this time.

Turkish real estate sales affected by the 2023 presidential election

It is normal for the real estate market to witness some decline in sales during elections due to many reasons. On top of them is a wait-and-see approach followed by most investors, and for this reason, we insist investors expedite land acquisition as soon as possible and enjoy remarkable profits after the elections.

Because it is always noted that the election results in a stable government and a positive outlook for the economy, leading to increased confidence among investors and homebuyers, which may result in increased demand for real estate.

In addition, the policies of the new government may have an impact on the real estate market. For example, if the new government implements policies that make it easier to invest in real estate or offer incentives to developers, it could lead to an increase in real estate activity.  

What is the future of the Turkish real estate market?

The Turkish real estate market has been an important sector of the country’s economy, attracting both domestic and foreign investors. It has seen a remarkable rise in the past and will witness the same rise in the future. Below we will review some general insights into the factors that may influence the future of the Turkish real estate market based on historical trends and common economic indicators.

1. Economic Growth: The overall economic growth of Turkey is a crucial factor affecting the real estate market. Positive economic indicators such as GDP growth, employment rates, and increased disposable income can drive demand for real estate.
2. Urbanization and Population Growth: Turkey has experienced significant urbanization and population growth in recent years. The expanding population, coupled with rural-to-urban migration, can lead to increased demand for housing and infrastructure development in cities.
3. Government Policies and Reforms: Government policies and reforms can have a substantial impact on the real estate market. Measures promoting construction, urban renewal projects, infrastructure development, and favorable regulations for foreign investment can stimulate the market.
4. Foreign Investment: Turkey has been attracting foreign investors to its real estate market through programs like the Citizenship by Investment scheme. International investors seeking profitable opportunities or citizenship benefits could contribute to the growth of the market.
5. Tourism and Hospitality Sector: Turkey is a popular tourist destination, and the performance of the tourism and hospitality sector can influence the real estate market, particularly in areas with high tourist activity. Investments in hotels, resorts, and vacation properties may be influenced by the tourism industry’s growth.

Do those with Turkish citizenship have the right to participate in the Turkish elections 2023?

Yes, individuals who hold Turkish citizenship have the right to participate in the Turkish elections. Turkish citizens who are 18 years of age or older have the right to vote in both general and local elections, as well as referendums. This includes elections for the presidency, the Turkish Grand National Assembly (parliament), and municipal elections.

To exercise their right to vote, eligible Turkish citizens must be registered in the voter registry. They can cast their vote at designated polling stations in person on election day.

It’s worth noting that specific election procedures and regulations can vary, so it’s advisable to consult official sources, such as the High Election Council of Turkey, for the most accurate and up-to-date information on voting rights and procedures in Turkey.

Is the current time suitable for real estate ownership in Turkey?

The Turkish real estate market has seen significant growth in recent years, with rising property values and a surge in demand from both domestic and foreign investors. Turkey’s strategic location, attractive investment climate, and growing economy have contributed to its popularity as a real estate destination. That being said, the real estate market, like any other investment market, is subject to fluctuations and risks. 

Investing in Turkey can be a lucrative opportunity, with the advice of experts and proper research investors can achieve fundamental success in the Turkish real estate market.

Therefore, before investing in Turkish real estate, it’s important to conduct thorough research and seek advice from VAAL real estate.

 Here are some points to consider when evaluating the suitability of real estate ownership in Turkey:

1. Legal and Regulatory Framework: Understand the legal framework and regulations governing real estate ownership in Turkey. Familiarize yourself with property rights, foreign ownership regulations, taxation laws, and any recent policy changes that may affect property ownership.
2. Long-Term Investment Perspective: Real estate is often considered a long-term investment. Assess your investment goals and whether real estate ownership aligns with your objectives. Consider factors such as potential appreciation, rental income prospects, and the stability of the market over the long run.
3. Location: Property values and rental yields can vary significantly depending on the location. Consider factors such as accessibility, infrastructure development, and proximity to amenities and services when choosing a location for investment.

It is advisable to consult with VAAL real estate professionals who specialize in Turkish real estate to get personalized advice based on your specific situation and goals. They can provide detailed insights and help you make an informed decision regarding real estate ownership in Turkey.

In summary, the decision to invest in Turkish real estate should be based on thorough research and analysis. Consulting with local experts can also provide valuable insights into the market and help you make informed investment decisions.

Tips for investing in Turkey 2023

If you considering investing in Turkey you have made the right decision but before going for that we would like to share some important general tips to keep in mind:

1. Research the market: Conduct thorough research on the Turkish real estate market, including current trends, property values, rental yields, and market forecasts. Gain an understanding of the different regions and cities within Turkey and their investment potential.
2. Engage local experts: Seek advice from real estate professionals, who have knowledge and experience in the Turkish market. They can provide valuable insights, assist with legal procedures, and help you make informed investment decisions.
3. Assess risk and return: Evaluate the potential risks and returns associated with your investment. Consider factors such as property appreciation potential, rental income potential, market liquidity, and the overall economic and political stability of the country.

Remember that these tips are general guidelines, and it’s important to adapt them to your specific investment goals and risk tolerance. Consulting with professionals and experts who specialize in Turkish real estate like VAAL real estate can provide personalized advice based on your circumstances and objectives.

In summary, investing in Turkey can be a rewarding opportunity, but it’s essential to take the necessary precautions and do your due diligence to minimize risks. By following these tips, you can make informed investment decisions and maximize your returns.

Edited by: VAAL Real Estate.