By Justin Mays:
Istanbul, with a population of 15.46 million people, has become the heart of Turkey. This city tops everyone’s travel list. The beautiful architecture of its historical buildings, fascinating bazaars, the ornate palaces steal every traveler’s heart. But beyond all this, Istanbul stands as the country’s business hub, drawing in foreign investors from around the globe.
Moreover, Istanbul’s real estate sector has surpassed the rest of Turkey in catching the interest of foreign investors and has made the highest number of house sales to foreign and local investors.
While Istanbul has almost always been the top choice for real estate for the Turks, its modern and up-to-date infrastructure and spectacular real estate portfolio have brought in many foreign buyers. In June of this year alone, 8,630 apartment units were purchased by foreigners in Istanbul. In today’s blog, Prime Property Turkey walks you through 5 reasons to buy property in Istanbul, Turkey.
Why Buy Property in Istanbul, Turkey?
Cultural & Tourism Hotspot
What captivates investor’s the most about Istanbul is that it is a cultural and tourism hotspot in Turkey. This city’s incredible history as the center of the Ottoman Empire fuels its tourism.
In addition to the chance to explore the wonderful structures dating back to the Ottoman era, the climate of Istanbul also appeals to many. It has prompted people from various European and Middle-eastern nationalities to settle here and establish their businesses.
Mega Projects Everywhere
Istanbul is home to a large number of mega projects initiated by the Turkish government. As a result, foreign investors are quickly buying up properties before these projects boost the Turkish real estate value.
Some of the most important mega projects to know about include the Marmaray project, the New Istanbul Airport, the Istanbul Canal Project, and the Yavuz Sultan Selim Bridge.
The Istanbul Canal Project has also boosted the popularity of the European districts near it, including Kucukcekmece and Basaksehir.
Purchasing the apartments for sale in Istanbul and other units can allow investors to benefit from the myriad of megaprojects, such as bridges and highways and witness the rapid transformation of Istanbul.
Get to know more about this mesmerizing city and its real estate potential by reading our “Istanbul Turkey Real Estate | Facts and Forecasts” post.
The Allure of the Turkish Passport
While the Turkish passport is desired by many, one of the simplest ways of obtaining one is by investing in local real estate. As a real estate consulting company, we receive many clients interested in Istanbul real estate and invest in properties to obtain Turkish nationality.
All that is needed is to buy a property worth USD 400,000 and agree not to sell it for three years.
View all our Properties For Sale In Istanbul, Turkey and explore many well-designed real estate investment options.
Upscale Residential Projects
One of the major reasons to buy a property in Istanbul is the comprehensive real estate options for different budgets. Many of the elite residential and commercial projects are concentrated in the suburbs of Istanbul, with top-notch transportation links connecting them to the center.
All the new residential units in Istanbul promise elegance and an exceptional lifestyle. These housing projects are already popular among the locals but have sparked the interest of foreign homebuyers due to their modern designs and innovative specifications.
Istanbul also boasts phenomenal options for commercial units, each serving eye-catching Istanbul views and equipped with gyms, parking spaces and high-level security.
High Value for Low Prices
Istanbul’s many districts offer investors a wide selection of areas to choose from. Each district has its own energy, and foreign buyers opt for ones that meet their preferences. However, one common thing between all the districts is the opportunity to buy good real estate options for bargain prices compared to the European property market.
While districts such as Bebek will continue to remain the most sophisticated place for those who love luxury, it is the emerging districts such as the Basaksehir-Bahcesehir, Zeytinburnu and the Kucukcekmece districts that have received a bulk of foreign investment thanks to all the modern constructions featuring amazing villa and apartment units available.
To Wrap It Up
All-in-all, the Istanbul real estate options are unlimited. Whether you are looking for a cozy apartment, a spacious villa for a large family, or a commercial unit to support your new business, Istanbul has it all. In fact, foreign inventors can also buy properties with the type of views they prefer, whether it be a Bosphorus view or a forest view.
No matter your demands, the Prime Property Turkey team is ready to help you get the highest value for your money!
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