Many people believe that if Turkey joins the European Union (EU), the Turkey Property market will boom, foreign investment will increase, and property prices will rise. But is this true?
The reality is quite different. In fact, EU membership could harm Turkey’s real estate sector rather than help it. If you’re considering buying property in Turkey, you need to understand the risks.
Right now, buying property in Turkey is easy for foreigners, making it a top destination for real estate investment in Turkey. Investors from Europe, the Middle East, and other regions can purchase property without complicated rules and even get Turkish residency or citizenship.
However, if Turkey joins the EU, things will change:
This means Turkey could lose a massive part of its foreign buyers, especially investors from the Middle East, Russia, and China, who currently purchase a significant share of property for sale in Turkey.
Some argue that European property buyers will rush to invest in Turkey property market once it joins the EU. This is a myth.
Here’s why:
So instead of attracting more buyers, Turkey’s EU accession could push European investors away from the real estate market.
Turkey already struggles with high inflation, and joining the EU won’t fix this issue overnight. In fact, it could make things worse:
Right now, foreigners love buying property in Turkey because it’s affordable and offers high value. If inflation stays high and Turkey becomes more expensive, what’s the incentive for foreign buyers to invest?
Middle Eastern investors currently buy a large portion of Turkey real estate properties. But if Turkey joins the EU, these buyers may disappear.
Look at what happened in Spain:
Without Middle Eastern buyers and fewer European investors, who will buy property in Turkey?
Right now, Turkey is one of the best places for real estate investment because:
But if Turkey joins the EU, all of these benefits disappear:
Many people assume that EU membership will boost Turkish real estate prices, but the reality is different.
Instead of expecting a real estate boom, Turkey should prepare for a decline in foreign investment if it joins the EU.
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