5 Encouraging Reasons for Real Estate Investment in Istanbul
Istanbul, a city that combines the beauty of history and the splendor of the future, stands out as one of the best destinations for real estate investment in the world. This unique city, known for its rich cultural heritage and dynamic atmosphere, occupies a strategic location between the continents of Europe and Asia, which gives it an unparalleled geographical advantage and makes it a vital center for trade and cultural exchange. With strong economic growth and continuous development of infrastructure, Istanbul real estate is blessed with investment attractiveness that exceeds expectations.
The city combines a wonderful historical character with modern construction projects, creating diverse opportunities for investors looking to achieve sustainable financial returns through real estate investment in Istanbul. Istanbul real estate provides a unique blend of historical charm and contemporary development, making it a compelling choice for discerning investors seeking both cultural richness and financial prosperity in their investments.
Real estate prices in Istanbul:
One of the most important factors that may attract any investor, whether Turks or foreigners, is Istanbul real estate prices in the area in which they will buy a property in. One of the most prominent features of Istanbul real estate is that turkey is known for its cheap prices compared to other real estate prices in neighboring European countries, even though Turkish real estate is no less important or quality than any of them.
Therefore, Istanbul real estate provide many opportunities to buy a property, especially by foreign investors with limited income. Or those who want to buy a property in Istanbul for the first time and want to achieve financial profits and large investment returns. The decrease in real estate prices in Istanbul contributes to encouraging them to choose more properties as they are suitable for their budgets. At the same time they will be able to obtain better investment opportunities by the same amount.
At the same time, there are other options for wealthy investors, major businessmen, and the elite, including villas, smart apartments, penthouse, and many others. Through this great diversity that Istanbul real estate provides in various aspects, we find that it is able to secure the demand of any investor. This makes the real estate market and the real estate investment sector in Istanbul the preferred haven for foreign investors because they are certain that they will be able to find what meets their needs and achieves their aspirations due to the many and very diverse options available.
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The great diversity of Istanbul real estate:
The greater the options available, the greater the number of beneficiaries. This general rule applies to various forms of investment in the world, including real estate investment in Istanbul, as one of the most important advantages that Istanbul real estate has is the great diversity it provides to investors when it comes to the options available to them. This diversity in turn includes several aspects, including the types of real estate in Istanbul, and also their prices, as there are many properties in Istanbul that are certainly able to meet the various needs of investors, whatever their desire or goal of real estate investment, starting with Istanbul residential real estate such as villas, luxury houses, and apartments, and others. As well as commercial real estate such as shops, offices, warehouses, hotels and etc.
As for the patterns and spaces of Istanbul real estate, they include large and small spaces. You also can find properties ranging from (0+1) to (5+2). Yet, we have to pay attention to an important point, the further we are from the city center, the larger spaces we get and vice versa.
Strategic geographical location:
Istanbul is considered one of the most important and most famous Turkish cities. This is due to its strategic geographical location. It is a linking point between the continent of Asia and the continent of Europe, and makes occupying the middle of very important trade routes, not only in land trade, but also in maritime trade. It has very important and vital coasts, some of which are classified as the only maritime commercial port for many of its neighboring European countries. The idea of the New Istanbul Canal project has also increased the value of its geographical location. Once implemented, Istanbul will become the first global commercial port, stealing the spotlight from New York, Vancouver, and others.
Citizenship and Residency Program:
The Istanbul Real Estate Citizenship and Residency Program plays a major and decisive role in promoting real estate investment in Istanbul. This initiative from the Turkish government offers foreign investors the opportunity to obtain Turkish citizenship or real estate residency through their investment in real estate. This program is very interesting for foreign investors, especially those who want to obtain a strong passport such as the Turkish passport to facilitate their travel to many countries, in addition to those looking to exploit the economic and investment benefits in Istanbul.
Due to citizenship and residency programs, Istanbul's attractiveness to foreign investors has increased, as this program acts as an additional incentive to enhance confidence in investors. Thus increasing demand for real estate in the city. It is worth noting that purchasing a property for $400,000 in any Turkish city qualifies the investor to obtain Turkish citizenship. This also includes the investor’s wife/husband and children who are under 18 years old. On the other hand, purchasing a property for $200,000 qualifies the investor to obtain real estate residence permit, which may qualify the investor to obtain Turkish citizenship 5 years after owning it.
Fluctuations of the Turkish lira:
The fluctuations of the Turkish Lira play a big role in influencing real estate investment in Istanbul. These fluctuations are the focus of attention of local and international investors, as they can cause shifts in real estate values, costs and returns. Although the fluctuations of the lira can sometimes pose challenges, in some cases it can open doors to opportunities.
For example, the decline in the value of the Turkish Lira could make real estate in Istanbul more attractive to foreign investors, as they can benefit from the improved value of their real estate investments. However, they must be careful and follow informed and certain investment strategies to deal with market fluctuations.
If you would like to know more about real estate investment in Turkey and Istanbul in particular, do not hesitate to contact us via WhatsApp, here. Our real estate consultant will inform you about the most important and latest laws and updates related to real estate investment in Turkey.
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