The concept of real estate development in Turkey

It is important to know the concept of real estate development, as Turkey is one of the main destinations for real estate development .. Get to know us about all the details in this article

Turkey is one of the main destinations for real estate development in the region, as it enjoys a strategic location, an active economy, and a diversified and developed real estate market and real estate development in Turkey aims to achieve the aspirations of the population and meet their residential, commercial and tourism needs, in addition to enhancing the capabilities of the infrastructure and promoting economic activity in different regions.

In this article, we will explore the concept of real estate development in Turkey in more detail, highlighting the importance of this sector in advancing the economy and improving the quality of life, in addition to reviewing the factors affecting the success of real estate development operations and the challenges that can be faced.

What is meant by real estate development in Turkey?

Real estate development in Turkey is defined as a profitable commercial and investment business that aims to achieve specific financial returns and this work includes modifications to old or neglected real estate, whether through partial or total repair, in addition to renovating buildings or acquiring empty lands with the aim of developing a project on them later and marketing them and these works are carried out with the aim of increasing the real estate value and meeting the changing needs of the real estate market.

Get to know the real estate developer in Turkey

A real estate developer in Turkey is defined as an individual or a company specialized in the field of real estate development, whether by establishing new projects or rebuilding existing properties and the real estate developer in Turkey has extensive experience and knowledge of the Turkish real estate market, and aims to implement projects after the completion of construction work in order to make the most of these economic activities in the country.

A real estate developer in Turkey coordinates a variety of activities related to real estate development, turning creative ideas put on paper into reality and he assumes the role of the real estate development manager in Turkey by developing strategic plans related to financial feasibility, financing sources, and selecting the appropriate consultants and contractors to implement the project and he also develops a marketing plan for the project and implements strategies for selling it in the Turkish real estate market.

The real estate developer in Turkey has many responsibilities, including searching for suitable sites to implement real estate development projects in Turkey, and dealing with financial institutions, construction offices, contractors and real estate owners in Turkey and in order to achieve the success of real estate projects, the ideas and their owner, the real estate developer in Turkey, must be given great importance before starting any project on the ground.

One of the main elements that a real estate developer deals with in Turkey is to study real estate development ideas, away from potential market fluctuations after the completion of construction work and ideas must be studied from all possible aspects accurately and in detail, using scientific planning and technical studies, to ensure the success of real estate projects.

What are the basic elements in real estate development in Turkey?

The following are the main elements in real estate development in Turkey, let's get to know them together:

Merchant

The merchant financed the real estate project to be built in a specific city or region in Turkey.

Contractor

An individual or a contracting company responsible for constructing the project according to the submitted plan, engineering designs, and drawn plans.

Real estate company

The real estate company plays a vital role in connecting the merchant (financier) and the Turkish contracting company and the real estate company is responsible for managing and supervising the project, and presenting ideas, studies, economic evaluations, construction proposals, and investment projects and this work is organized through a dedicated department within the Turkish real estate company known as the "Real Estate Development Studies and Research Department" and after that, the project will be marketed in two phases: during the construction phase and selling the finished units in the second phase after the completion of the construction works.

Advantages of real estate development in Turkey

1. The real estate development sector in Turkey is an ideal environment for investment, as there are various and profitable opportunities for investors and good financial returns can be achieved by selling new properties or redeveloping existing properties.

2. Turkey is witnessing a steady growth in the real estate market, as the demand for residential and commercial properties increases and the Turkish government provides many facilities and incentives to attract investors and enhance real estate activity.

3. The real estate development sector works to improve the infrastructure in Turkey, including the provision of public services and necessary facilities such as roads, schools, hospitals and means of transportation and this contributes to improving the quality of life and making real estate more attractive to investors and buyers.

4. The real estate development sector in Turkey offers a wide variety of available properties, from apartments and villas to commercial projects, hotels and entertainment complexes and investors can choose the property that best suits their needs and investment goals

5. Real estate development plays an important role in promoting the tourism sector in Turkey and building luxury hotels and resorts to attract tourists and increase demand for tourist destinations in the country.

6. The real estate development sector provides great job opportunities for many workers in the industry, from engineers, architects and contractors to skilled and unskilled workers and this contributes to improving the standard of living and reducing unemployment rates.

Features of the real estate developer in Turkey

1. Real estate developers in Turkey have a high level of experience and knowledge in the field of real estate development.

2. They have a deep understanding of the Turkish real estate market and current and future trends, and they rely on their experiences and studies to determine the residential, commercial and tourism needs in the market and develop projects that meet those needs.

3. Real estate developers have a strong network of relationships and professional connections in the real estate industry.

4. They cooperate with contractors, engineers, consultants, investors and financial institutions, which gives them a unique ability to coordinate and implement real estate projects efficiently and professionally.

5. They have strong planning and organizing skills and they analyze available land and assess the economic viability of potential projects.

6. They prepare engineering, organizational and execution plans, and deal with legal and regulatory aspects related to real estate development.

Factors affecting the success of real estate development operations in Turkey

1. The economy plays a crucial role in the success of real estate development operations and the economy must be stable and active, as this increases the demand for real estate and provides viable investment opportunities and economic stability and GDP growth are key factors to attract investors and achieve the success of real estate development operations in Turkey.

2. Government policy plays an important role in creating an environment conducive to real estate development and the government must adopt supportive and transparent policies and procedures for the real estate sector, such as licensing facilities, permits, market regulation, and encouragement of foreign investments and clear legislation and a stable investment climate enhance the confidence of real estate developers and enhance the success of development operations.

3. There must be a strong demand for real estate in the area where the development process takes place and the success of real estate projects depends on a careful analysis of the population and market needs and interests and the supply must match the demand, and future opportunities for marketing, leasing or selling must be successfully identified.

4. The location and landscape play an important role in the success of real estate development operations and sites that have a strategic location, easy access, beautiful landscapes, or proximity to important tourist attractions or facilities must be chosen.

5. Effective marketing and promotion plays a critical role in the success of real estate development operations and strong and innovative marketing strategies must be implemented to attract potential investors and buyers and this includes the use of social media, advertisements, trade shows and public relations.

6. The real estate developer must have the ability to present high-quality and innovative real estate projects, including providing modern designs, integrated facilities, and advanced construction technologies and quality and innovation enhance the developer's reputation and attract buyers and investors.

Common questions

What is the importance of real estate development in Turkey?

Real estate development plays a crucial role in improving infrastructure, providing job opportunities, promoting economic growth, and meeting the growing demand for real estate in Turkey.

What are the main steps of the real estate development process in Turkey?

The main steps include determining the appropriate site, preparing economic and technical feasibility studies, obtaining the necessary licenses and permits, implementing construction and development operations, and managing marketing, selling or leasing operations.

What are the criteria that real estate developers should examine when choosing a real estate development project in Turkey?

Real estate developers must examine the demand and supply in the target area, analyze the financial and marketing feasibility, study the real estate law and regulations, and evaluate the infrastructure, location and future development of the area.

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