The Turkish real estate sector has gained prominence, coming into the limelight for both local and foreign companies; reflecting developments in the economy, such as the decrease in inflation to conceivable levels, the achieving of price stability, and the transition to the New Turkish Lira; and political developments, such as European Union candidacy. The 2008 and 2009 results of the survey Emerging Trends in Real Estate Europe, prepared jointly by PwC and the Urban Land Institute clearly indicate increasing local and foreign interest in the Turkish real estate sector.
Real estate investment bears similar qualities to direct capital investment. Real Estate Investments have certain characteristics which single them out from other financial investments which reinvigorates tourism, logistics sector and, in particular, the construction sector with its 200 sub-branches.
The advancement along the road to full membership to European Union means Turkey is also undergoing radical changes in legislation, the most significant of which can be considered as: the recent changes in Land Registry Law related to foreigners' acquisitions of real estate in Turkey. The recent amendments in Land Registry Law, Draft Mortgage Law and redrafting of tax laws may have a direct effect on the feasibility of real estate investments in Turkey.
How can PwC Turkey help you?
PwC Turkey provides services for all local and foreign investors in need of support, especially in environments where there are significant transformations in the legislation, through its expertise in audit, tax, legal and corporate finance consultants, who are specialised in real estate investments and business conduct techniques, along with the wider network advantages.
Our particular team of specialists within the larger team of PwC Turkey, is ready to support you as your business partner in every stage of the real estate value chain (company or real estate acquisition, finance, construction, operating, leasing, selling, etc), and help you to achieve your business and financial targets in the industry.