Investing in Student Housing in Istanbul
Before talking about investing in student housing in Istanbul, we must talk a little about Istanbul and real estate investment in it, in general.
Istanbul is the preferred place for real estate investment from the point of view of major investors from Arab, European or other foreign countries. Istanbul provides you with a very upscale residential environment, and this explains the progress of different communities towards housing and stability within Istanbul. Istanbul is filled with various residential properties, including complexes, residential projects, apartments, student housing in Istanbul, and others.
There are many areas of real estate investment in Istanbul, Turkey, thus, we will highlight within this article investments in residential real estate, specifically investment in student housing in Istanbul, Turkey.
What do you know about investments in student housing in Istanbul?
Students come to Istanbul universities to learn from all over the Turkish provinces and from all Arab and Western countries of the world. This creates a need for student housing in Istanbul, for this category.
Projects of student housing in Istanbul are located within certain areas close to universities and means of transportation and require certain specifications. Therefore, investing in student housing in Istanbul is not easy in terms of choosing the location of the property and preparing it according to specifications and procedures. However, it is considered one of the most profitable types of real estate investment, as the process of traveling for education in Istanbul does not stop, whether by Turks themselves or by foreigners, as Istanbul’s universities are considered among the best universities in the world.
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What distinguishes student housing in Istanbul from other projects?
The location of the projects of student housing in Istanbul must be close to the locations of universities in Istanbul and be located on the main transportation roads in Istanbul.
The design of residential properties for student housing in Istanbul must be according to special housing design plans, and this requires that the residential apartments in Istanbul designated for students be in quiet locations, beautiful views, and small spaces that guarantee the student’s independence and comfort.
There are services that should be available very close to student housing projects in Istanbul, such as health units, commercial centers, taxi offices, and other service facilities necessary for daily life that a student may need.
How to invest in student housing in Istanbul?
The university study period ranges from 9 to 12 months, as we know, Turkish universities in Istanbul are among the best local universities in Turkey, which also enjoy an advanced ranking in terms of global competition with other universities in the world. In addition, the Turkish government offers more than 4,000 scholarships annually directed to students of all nationalities and cultural backgrounds. This ensures the continuation and success of investing in the student housing in Istanbul and Turkey in general.
Even in light of the Corona crisis that swept the world and the general closure it led to at the level of all official and private government departments, including universities in Istanbul, Turkey, where the education system shifted to online, foreign students continued to reside in Turkey within the units of student housing in Istanbul because they were unable to leave Turkey due to the general ban, restrictions, and other matters related to the costs of going back and forth.
This study period at universities of Istanbul, Turkey ensures that your real estate investments within projects of student housing in Istanbul continue in full swing, while during vacations you can invest in these student housing units by renting them to tourists.
Options of student housing investment in Istanbul
You can buy student housing in Istanbul that are not ready or under construction and resell them after preparing, furnishing, and functioning them as the investor wants, or you can invest them by renting them to students directly through the real estate investor or through real estate offices in Istanbul, which is the best and most ideal option. You can also rent student housing apartments in Istanbul, whether they are furnished or unfurnished.
Of course, the prices of student housing in Istanbul vary depending on all the factors that we discussed, such as the quality of the view, the presence of balconies in the apartment, the region where the apartment located, the furnishings and equipment present in the student apartment, the designs, and other factors. All prices are available, but they differ according to the amount of facilities and services in these apartments.
Difficulties you may encounter during investing in student housing in Istanbul:
There are many difficulties or pitfalls that you may encounter while investing in student housing in Istanbul or anywhere in Turkey in general. It is possible that you will encounter a lack of cooperation from some students, and your apartment that you invest in by renting it to students may be exposed to some sabotage or break-ins by some students.
Of course, the matter is resolved by concluding an agreement between you and the student that the apartment will be maintained, its furniture will be maintained, you will be informed of developments, and the apartment will be delivered at the appropriate time. It is worth noting that this type of pitfall may encounter you in many types of investment in residential projects, not just in student housing in Istanbul.
Can you obtain Turkish citizenship by investing in student housing in Istanbul?
The answer is definitely yes, as student housing in Istanbul do not differ from the rest of Istanbul apartments from the legal standpoint of Turkish real estate and real estate investments in Turkey.
You can apply and obtain Turkish citizenship by purchasing a property in Turkey worth 400,000 US dollars; this is the direct condition. Of course, you can buy more than one unite of student housing in Istanbul in more than one place, provided that the total value of the prices of all these properties reaches the value specified above, which is 400 thousand US dollars or its equivalent according to the currency exchange rate.
Why are investment property prices greater than residential ones?
You may wonder why the prices of investment properties such as student housing in Istanbul are relatively higher than the prices of residential properties? The answer is for several things, the most important of which are:
- Investment real estate, such as student housing in Istanbul, is usually located in a specific, very special area, so that it is a destination for many interested people, whether companies or students, for example. Therefore, it is the focus of great interest and investment in it is guaranteed to be successful.
- Investment properties such as student housing in Istanbul have certain specifications. They are considered more privileged properties for those interested in the subject of investment, and not all of them may be available in residential properties.
- The areas in which investment properties are located, such as student housing in Istanbul, are very distinctive, modern, and the focus of interest for real estate investors and businessmen in particular.
- The annual profit percentage in investment real estate, such as student housing in Istanbul, differs from investment in regular or residential real estate, as the profit in it is between 6% and 8% as a fixed percentage, or it reaches up to 10% for properties that have distinct characteristics from others, such as their proximity to the new canal or Properties offered for tourist rental.
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