Turkey is drawing foreign professionals with cost-effective, business-friendly cities beyond central Istanbul offering strong infrastructure and incentives
-- Turkey has become a popular destination for investors, professionals, and business owners in recent years. This is thanks to its strategic location, educated, largely younger workforce, favourable exchange rates, and incentives, including tax exemptions and R&D reliefs, aimed at encouraging overseas economic investment.
While there remains a consistent influx of retirees and families looking for a warm climate, low living costs and accessible property acquisition prices, alongside investors purchasing real estate as part of their global portfolios, the specialists at Property Turkey have seen upticks in enquiries from professionals who may require both a residential home and a commercial premise.
The firm explores some of the most appealing, and sometimes less well-known, destinations, particularly for investors and businesspeople looking for locations with low barriers to entry and where property acquisitions are more affordable than in central Istanbul.
The Draw of Turkish Commercial Locations Outside of Istanbul
There is, of course, always interest in establishing a business or relocating to Istanbul as a professional. The city’s large population, diverse economy spanning tech, manufacturing, finance and tourism, and the ease of access to airports and seaports are all beneficial.
However, the elevated costs of real estate purchases in the city have led more foreign nationals and business owners to explore alternatives, particularly those setting up new ventures or with limited start-up capital, for whom initial overheads are a key budgetary constraint.
For many, the solution is to look beyond the central metropolitan area, with regions such as Ataşehir and Maslak perceived as offering the best of both worlds.
Maslak is within Istanbul Province and has a high concentration of skyscrapers and high-end properties, with strong connectivity via the M2 metro, having become less of an industrial-focused business region over the years.
It is now more tech-centric, with a fast-growing number of corporate offices that are more affordable than those in traditional centres such as Buyukdere Street.
Ataşehir has similarly attracted interest on the Asian side of Istanbul, where the newly developed Istanbul International Finance Centre (IIFC) is located, generating sharp increases in demand for Turkish real estate as professionals employed at the IIFC or related businesses relocate.
Ankara as a Strategic Base for a Newly Established Business in Turkey
The capital city, Ankara, has conventionally been in second place to Istanbul, with the lower costs of running a business now making it a viable option for many brands. It’s also seen as an optimal base for companies reliant on government contracts or similar workflows, with a niche market that includes defence, public-sector, and tech-sector firms.
International businesses often pick Ankara due to affordability, with lower property rentals, average salaries and overheads than Istanbul, and for the convenience of less congestion.
This ensures that commuting times and commercial transport delays are less of an issue, while taking advantage of a central location that is well-suited to business entities involved in goods distribution around the country and further afield.
Reasons Professionals and Businesses Consider Izmir for Turkish Expansions and Relocations
Izmir is the third-largest city in Turkey and a location that appeals to entrepreneurs and established professionals whose priorities include cost efficiency and the tactical benefit of being close to the port on the Aegean Sea coast.
Nicknamed the Pearl of the Aegean, Izmir is generally regarded as a tourism hub, with sandy beaches, sites of historic importance and several cultural attractions. Because of this, it is often overlooked, despite being a business-friendly setting with progressive attitudes and growth in tech and manufacturing.
The Adnan Menderes Airport makes travel and transport straightforward, and although the population is smaller than Istanbul's, it is still a significant market with less congestion and pollution.
Investments in the Izmir Technology Development Zone, access to well-maintained port, airport, and road facilities, and lower living costs have made Izmir a central hub for companies looking to recruit talented professionals and for investors relocating from around the world.
Bursa as a Turkish Relocation Destination for Businesses and Professionals
Bursa, the first capital, is another Turkish city that attracts large volumes of tourists year-round. It has become established as a visitor destination due to its mix of UNESCO-recognised sites, skiing resorts and thermal baths, but it also presents an opportunity for commercially minded foreign nationals.
With a robust, mature manufacturing sector, Bursa is attractive to those engaged in production and related industries, offering reductions in commercial overheads and the infrastructure businesses need to thrive.
Already seen as a hub for Turkish manufacturing, especially in textiles and the automotive industry, Bursa is two hours by road from Istanbul, providing access to the larger market, while having established industrial zones with all the third-party services and facilities businesses require.
This makes the city an option for manufacturers that require export infrastructure and port access, and for innovative companies that can recruit technical candidates from Uludağ University.
Factors That May Influence Location-Based Decisions for Foreign National Investors and Corporations Relocating to Turkey
Short-listing the best places to establish a new business or cross-border presence, or to relocate as a professional, can be complex. Some locations are better suited to companies operating in specific industries or sectors, or may be saturated with direct competitors, making an alternative destination more commercially viable.
Tax incentives and specially designated zones vary across Turkey, as does access to skilled labour and vital infrastructure, from communication networks and digital download speeds to roads, airports, and ports. As always, it is advisable to seek local knowledge for real-world guidance and support.
Importantly, foreign business owners and investors should also consider the sometimes unique business climates across Turkey’s commercial districts and ensure they are comfortable that the trading conditions align with their expectations and business strategies.
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About the company: Property Turkey has 20+ years experience in the Turkish real estate market, with a team of experienced, friendly and independent overseas real estate consultants. Our head office is located in London, UK with regional operational offices in: Bodrum, Fethiye & Kalkan, Antalya and Istanbul.
Contact Info:
Name: Muhammad Abdulhamitoglu
Email: Send Email
Organization: Property Turkey Ltd
Website: https://www.propertyturkey.com/
Release ID: 89180287
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