Growing Real Estate Market in Turkey 2020 — OZ ISTANBUL
Turkey is a country which connects Asia and Europe. Its capital is Ankara, and Istanbul is one of its biggest cities. By its location, Turkish Real Estate is one of the most intriguing markets in this country, which has four seasons and is surrounded on three sides by sea. Especially, Istanbul is the one of the favorite and well-known cities for many domestic and foreign investors. In this article we want to give you some information about Turkey and Istanbul Real Estate Market. Additionally, we are going to mention the opportunities and benefits of buying an apartment for sale in Istanbul and Turkish Citizenship Program.
Turkey Real Estate Market 2019
According to information received from TRT World, the number of foreigners buying real estate in Turkey has increased considerably compared to previous years. As reported by a TRT World’s article. Turkish Statistical Institute (TUIK) results until April this year show that real estate market sales increased by 84 percent of last year’s sales. This year real estate prices in Turkey have remained low compared to other European countries so it can be said this year is a good period for real estate investors.
Buying a Real Estate in Istanbul
Istanbul is one of the most preferred cities of Turkey when an investor wants to buy a property to live or just as an investment. One of the reasons for that is Istanbul’s unique location as a natural bridge between the European and Asian continent. And also, its growing and developing world of work is one of the reasons. As the main location for worldwide business centers and international companies Istanbul is the heart of Turkish economy. For all those good reasons Istanbul is the star of Turkish real estate market.
Benefits of Investing in Real Estate in Turkey
Most important benefits of buying a real estate in Istanbul is Turkish Citizenship Program. In this program Turkey Government offers citizenship investment program. Last year Turkey Government announced that the amount of investment required to apply for Turkish Citizenship Program is $250,000.
For getting Turkish Citizenship you need to apply to the Tapu Office (General Directorate of Land Registry and Cadaster), and request to obtain Turkish Citizenship. If you buy a property in Turkey value of at least $250,000, your family (your children need to be under the age of 18) may get citizenship.
Second benefit of buying a property in Istanbul, you can buy properties cheaper than other countries, especially Europe. If you don’t want your investment to remain just an investment, if you expect a return on your investment, Istanbul is the perfect choice for you.
You start to think about what your expenditure will be in Turkey. Don’t worry, you are going to realize that everyday life is more affordable than other places. This means while living in Turkey, things like grocery shopping, dues for home and for living will be cheaper.
And if you have a business, Istanbul is a perfect place for your work. As we have mentioned before, Istanbul is in a very unique place as a location. It is a natural bridge connecting Asia and Europe. It has a strategic location that is commercially sensitive for Asia, Europe and Africa. If you are doing or planning to do an international business, Istanbul is perfect choice for your work.
39 Region of Istanbul
After deciding to invest in Istanbul, an investor next biggest challenge after the decision is finding the perfect district for his/her goals. Istanbul has 39 district and every district is connected by many main transportation routes and hundreds of smaller streets. Of the 39 districts, 25 are located on the European side and 14 on the Anatolian side. For finding perfect district for your purposes we recommend you to narrow down your search criteria with some specific questions.
Determining your reasons for buying will help you find the best districts for your aim. You can reduce your options according to your lifestyle, transportation opportunities and your budget. Once you have decided on the best district to suit your needs, the next step is identifying the perfect neighborhood and project for your ideals. There are many other different factors that you need to consider before entering the real estate property industry in Istanbul, which you may find confusing. For more information you can read our article about “Which Region of Istanbul Should You Buy Property?”
Choosing Perfect Project
It is important that investors should examine, know and have information about the sector carefully before taking action. For example, if you want a summer house with a garden, the districts that will appeal to you may change. Not only the districts, but even the neighborhoods in the district will be different accordingly. If you want a house close to business centers and in an area that lives in the spirit of the city, maybe you can check Basın Ekpress, Bakirkoy and Sisli districts in European side of Istanbul.
But it is not just about finding the right district and the neighborhood, it is about finding the right project for your purposes. You need to find a project that will appeal to all your wishes.
For example, Basın Ekspress has a strategic importance on the European side of Istanbul. It is a rising real estate district attracting the attention of both Turkish and international investors. It offers many branded and qualified office and hotel projects to investors that have been implemented one after the other. Apart from office and hotel projects, the region offers a variety of living spaces in the center of city. And one of the most preferred and admired projects in the region is Wanda Vista