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 2022 alone, 8,630
apartment units were purchased by foreigners in Istanbul. In today’s
blog, The
Guide Real Estate 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 Guide Real Estate team is ready to help you get the
highest value for your money!
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