The Turkish real estate sector after the Treaty of Lausanne – Vision 2023
What is the Treaty of Lausanne?
The worst thing that happened to the Ottoman Empire after the loss of World War I was the signing of the Treaty of Loss, the so-called Treaty of Lausanne, on July 24, 1923, between Turkey on the one hand and the Allied countries victorious in World War I on the other hand, according to which the Ottoman Empire was dissolved and the scope of the Ottoman Empire was reduced. Its rule is not limited to Anatolia or what we know today as the Turkish Republic
The validity period of this treaty has been set at one hundred years from the moment of its signing, which coincides with the next year 2023. Perhaps some things have become clear so far about the importance of this date for Turkey.
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– What is the vision of 2023 in the real estate sector – real estate after the Treaty of Lausanne?
- Mr. Farouk Akbal, President of the Association of Real Estate Promotion Abroad “GIGDER”, stated that real estate after the Treaty of Lausanne will achieve an increase in income from sales of foreigners in 2023, to break the barrier of 15 billion dollars, and 20 billion dollars in 2025, as it is expected.
- Stressing that this is the least estimate when looking at the huge numbers of foreign investors, especially Arabs, who prefer to live and invest in Turkey during the last decade.
- Noting that these investors are an important value for Turkey, and that with the help of the members of the “GIGDER” association, they will be able to encourage and attract them continuously, with many advantages to owning real estate after the Treaty of Lausanne
- And that Turkey is working hard to make Istanbul an international center for real estate investment after the Treaty of Lausanne in record time.
- Turkey’s 2023 vision, which was based on an in-depth study, is based on strategic objectives. The Turkish government will not accept the year 2023 without achieving them. The following will detail the most prominent points:
- Turkey has turned into the first real estate capital in the world, after being classified on several occasions and according to many indicators as one of the best cities to live and invest, which has increased the number of foreigners coming to real estate investment in Turkey during the last ten years and led to the growing demands for obtaining Turkish citizenship By owning a property remarkably.
- Through its vision for 2023, Turkey seeks to be among the top ten club, meaning that it occupies its place in the list of the 10 most powerful economies in the world.
- Turkey is working hard in its economic vision to bring the income of the Turkish citizen to 25 thousand US dollars, a goal that drew the attention of many who wish to obtain Turkish citizenship and prompted them to choose owning a property as the shortest way to achieve it.
- Turkey will not reach its full vision in 2023 if it is not able to occupy the fifth largest tourist destination in the world and a destination for more than 60 million annual visitors while raising the sector’s revenues to more than 50 billion US dollars.
- Vision 2023 places the development of the transport sector and the transportation network at the top of its priorities, especially since Turkey has made great strides in the field, and plans to build 11,000 km of new railways, expand the network of high-speed trains, and complete 15,000 km of dual highways, in addition to raising the classification of Turkish ports To reach the list of the 10 largest ports in the world, and to produce the largest possible number of modern domestic aircraft, especially drones, with a focus on progress in the field of satellites for a larger and stronger global competition
Profits of the Turkish real estate sector after the Treaty of Lausanne for a foreign investor
- Of course, this matter will affect the neighboring countries of Turkey and even the countries of the region as a whole, as the scales will be reversed and economies will rise in return for the decline of others.
- But the good thing for you, especially as a foreign investor in Turkey, is that your investment will grow and reap much more profits, as it will open wider horizons for work and investment in Turkey and will provide tremendous job opportunities.
- If we talk about the real estate sector in Turkey in particular, this issue will double the profits of the already existing investments and give foreign investors and real estate owners in the country a great boost towards success and high financial return and even business expansion and increased profits.