Why should you invest in real estate in Istanbul?
People’s motives and goals vary when thinking about buying real estate in Turkey. Some of them are looking for an apartment with a Bosphorus view or a villa near the sea where they can spend short vacations all year round. For some people, the main reason for buying a property is permanent residence in Turkey or obtaining Turkish citizenship, and others consider Turkish real estate a profitable investment and plan to offer their properties for rent or resale and earn from the price difference.
The benefits of investing in real estate are many, through well-chosen real estate, investors can enjoy excellent returns and profits, and it is possible to benefit from real estate to build wealth, and the issue of choosing the right property is not difficult, as Istanbul has a variety of properties at very attractive prices, and with the help of our professional consultant team you will get a free consultation that will guide you to a profitable real estate investment in Istanbul.
Are you thinking of investing in real estate in Istanbul? Here's what you need to know about the benefits of real estate and why real estate is a good and safe investment.
- The procedures related to the purchase of real estate and the transfer of ownership are very simple and easy, as the title deed of real estate can be issued within several days. The title deed of the property or the so-called Tapu in Turkey is the official document that proves the rights to own property in Turkey, in which the real estate survey numbers and information about the property such as the name of the property owner, type of property, its location, area and others are mentioned, and it is signed and stamped by the title deed administration, where it is based on extracting the title deed The Directorate of Land Registry, which is affiliated to the Turkish Ministry of Environment and Cities.
Learn about the property title deed, its types, and all the necessary legal information in this article
- The cost of living in Turkey is very low compared to other European countries. It is known that the cost of living is one of the important factors that people take into account when they move and settle in a new country. When thinking about the cost of living in Turkey we are talking about all the different aspects of life, such as education, health, transportation, food, clothes, housing, rent, work and average monthly salaries.
As for education, public and private educational institutions are available in Turkey. As for public schools and universities, their fees are simple and symbolic, including free ones as well. As for private educational institutions, they start from $5000 and reach $20.000 depending on the specialization.
For health, there is the option of government hospitals that are covered by insurance, or private hospitals that you can treat at your own expense.
For transportation, Turkey has an infrastructure and a huge transportation network that covers the entire city of Istanbul and connects the European side of the city to the Asian side, and these means of transportation are the metrobus, metro, tramway, sea ferries and public buses. The fare is symbolic and simple, not exceeding 6 liras, and there is a discount for students where they can use public transportation for half the fare.
For more details about the costs of living in Turkey, read this article Costs of Living in Turkey with an analytical look
- Investing in real estate in Turkey is beneficial due to the high demand for apartments in residential complexes, which offer a wide range of options in terms of apartment spaces, views and services included in the project, and real estate projects in Istanbul cover all areas of the city, which have a developed infrastructure, and are significantly required for annual and tourist rent all year round.
We conclude from the above that Turkey is an attractive country for a large and diverse group of foreigners, and this in turn made it an investment destination as a result of the high demand for buying and renting housing, which in turn created a fertile and ideal environment for real estate investment, and according to tradingeconomics.com, foreign direct investment in Turkey increased by 264 million US dollars in August of 2021, and sales of new homes in Turkey rose to 42.639 units in August from 32.672 units in July of 2021. Source: Turkish Statistical Institute.
- The Turkish real estate market is a very reliable market. Turkey's economy is characterized by stable and continuous growth, and it is one of the twenty largest economies in the world. In addition, real estate prices are growing exponentially, so those who bought real estate in Turkey several years ago can now sell it at a much higher price.
Residential and investment real estate projects are increasing day by day, and every year there is a huge number of new buildings, including luxury projects under the name of the most famous international hotels that provide high-end services and that are being built in Turkey and provide very attractive offers for investors who want to double their profits.
- The facilities and Turkey's positive attitude towards foreign investors. The Turkish government is constantly working on simplifying the procedures for buying a property in Turkey and creating a favorable climate to attract new investors, including the opportunity offered by the Turkish government to obtain Turkish citizenship and a Turkish passport by buying a property worth $ 250.000 and keeping it for 3 years, in a very easy and smooth way that takes no more than 60 days.
This is in addition to tax exemptions or reductions for foreign investments, which gave an additional incentive to invest in Turkey.
- The opportunity to invest in under-construction projects and double your profits after the delivery of the project, where you can buy under-construction properties at a very cheap price and then benefit from reselling them without any risks.
The property under construction in Istanbul is considered the best in terms of investment, by taking advantage of its high price in the future. Istanbul real estate and apartments in Istanbul have witnessed an average rise of nearly 30% from the beginning of the construction of projects until their delivery, so many people interested in investing in Istanbul are working to buy apartments under construction and resell them in the future. This type of investment is a long-term investment, the results of which are not quick, but with a high profit rate.
The value of real estate increases over time, and with a good investment, you can make a profit when you resell that property. Rents also tend to rise over time, which leads to increased cash flow from all forms of real estate investment.