Real estate in Istanbul investment is not game of set rule. The road to riches is winding and you can play your own game to get the best. Getting an overall idea of the city and its real estate scenario is a good place to start. You can then keep narrowing your search to pinpoint on that perfect investment you want.
Quick facts that make real estate in Istanbul investment that golden egg for global investors.
- The year 2019 proved to be highest selling real estate units for foreign national in Istanbul.
- The statistics of growth is growing at almost 50% jump for almost every successive year.
- Government and laws of the country are all welcome for foreign investment. Only barring very huge investment and investment on agricultural land.
- Istanbul has a large presence of foreign nationals either as tourists or as working professionals, thus the culture does not seem to be too alien of you want a property for living in this beautiful city.
How did apartment for sale in Istanbul European side saw a sudden rise?
Istanbul has been gaining popularity among foreign mainly European and foreign investors ever since the dawn of the new decade. But the real turn of events took place in the year 2018 mainly because of two prominent events.
- The Turkish currency saw a nosedive. Which means foreign investors especially from Europe would now get an apartment for sale in Istanbul European side for a very investment. Many Europeans who came as tourists feel in love with city and wanted a second home here. Some others saw an opportunity for steady income in terms of rental property.
- The other major boost for real estate growth came from the fact that the Turkey dropped the value for citizenship by investment to $250,000, with a condition that the property owner must keep the property for at least three years. This look as perfect combination for foreigners who wanted to real estate in Istanbul investment.
Will the Istanbul real estate market trend continue to grow?
As a real estate investor your focal point must be the future price appreciation of any investment your make in Istanbul. Read below to note some points that make the future prospects of real estate in Istanbul investment clear.
- Istanbul’s real estate portfolio is plentiful in current time. The city center and the extensions of the city to far and wide have been dominated by a plentitude of new projects. This means your goal as investor should be short term. There is no over the night riches possibilities, a well planned long term investment seems to be the right choice. Any investment made should at least have two to five years margin.
- Till now, Turkey’s real estate market is largely dominated by local sales. As an investor you should feel the local pulse and preference for properties in coming times.
- Real estate in Istanbul investment is different from rest of the Turkey. So if you want to focus your investment plans for Istanbul, you must plan according to the vibe of Istanbul. It is the center of all things business, economy, tourism, health and medical care.
Why real estate in Istanbul investment should not only be focused on the city expansion?
Istanbul real estate market is currently dominated by the city’s expansion to areas like Kucukcekmece, Avcilar and Bahcesehir. These areas offer make real estate in Istanbul investment within budget. Many investors are expecting the prices to rise in coming days. But, here again, there is no scope for immediate gain as the supply is high in these regions.