The concessions offered by the Turkish government and the attention it pays to the investors in various sectors, especially real estate investors wishing to purchase a property in Istanbul and Turkey, explain the rising index of the increased attraction to that section in addition to the many characteristics of Turkey that include a unique geographic location and an evolved economy based on a strong and solid basis.
Looking at the real estate and residential projects’ sector, we can witness dozens and hundreds of projects constructed every year in different areas of the country as the expansion of the real estate market was not limited only to Istanbul, but many other cities, like Trabzon, Bursa, Antalya and the southern cities, experienced the same expansion and the emergence of many residential investment projects and hotel apartments.
Istanbul ranked first among the Turkish city in the percentage of sold properties because of the enormous number of its newcomers and its large surface area that can accommodate such a large number of newcomers. As a result, many choices have emerged including residential apartments in Istanbul, investment apartments or hotel apartments in Istanbul. And given its fantastic view of Marmara Sea, several residential projects were constructed offering hundreds of choices with seaside views in Istanbul.
This wide variety of choices available in the real estate market of Istanbul led to the increased demand and the diversity of prices following the variety of regions and views offered by the residential apartments and projects. All these factors mounted to the real estate market in Istanbul only taking over up to 20% of the net real estate market in Turkey.
What are the most important regions for real estate investment in Istanbul
The city of Istanbul alone expands over an area of 5461 km2 and is currently divided into two divisions:
The ancient Istanbul: It has several historic and archeological places that constitute destinations for the tourists and Istanbul visitors. It is characterized by the ancient Ottoman architectural style of most of its residential, governmental as well as commercial buildings as it still maintains the country’s heritage in its constructions. In the recent years, many residential projects in the form of high residential towers with a modern architectural quality emerged as the government and some private companies worked to reorganize a number of the old squatter areas and upgrade them by constructing residential towers and projects that offer a variety of apartments with all necessities; residential, service and offices.
The modern Istanbul: It occupies the western side of the city and includes a number of regions between Ataturk Airport and Istanbul New Third Airport. In these regions predominates the modern residential complexes that meet the requirements of the modern and ever changing modern life regarding the decors, the construction materials as well as the application of technology and smart house system. So, currently, apartments overlooking Marmara Sea, apartments overlooking the lakes of Istanbul in addition to home office apartments have spread to meet the requirements of those interested in purchasing properties and real estate investment in Istanbul.
Advantages of real estate investment in Istanbul
- The location of Istanbul between Asia and Europe which opens its market for the neighboring Arabic and European countries alike and makes it a point of harmony between both cultures together.
- The renewable laws and concessions issued by the Turkish government concerning facilitating foreigners’ ownership in Turkey and increasing real estate investment.
- The social and political stability in the country which is an important factor that reassures the investors.
- The huge and strong infrastructure across the country including railways and subway stations that connect both sides of Istanbul and is considered one of the largest transport networks worldwide.
- The diversity of investment sectors in Turkey and Istanbul to include all aspects of life; agriculture, industry, trade, tourism and real estate.
- The magnitude of the real estate market and its involvement with the competing sectors of the Turkish economy which yields enormous profitable returnees for the country.
Thereby, a city as huge as Istanbul with its diverse market becomes the first and best choice for investment and real estate investment will be the prime candidate for investing capitals to guarantee a permanent profitable returnee.
Alfares Real Estate Investment will be your comprehensive guide to choose the best property in Istanbul whether it was a seaside apartment, a residential apartment or a commercial shop.