Turkey is a wonderful country for its strategic location making it a universal dimension. Istanbul is the capital and most populous city with various thriving sectors including real estate, health, art, and education. There is continuous progress in these sectors making Istanbul a wonderful investment location, especially in real estate. When looking forward to investing in real estate, various options are available including flats, villas, and apartments
Proven benefits to purchasing flats for sale in Istanbul
The natural beauty and convenient transport
Turkey is an ideal destination for investors for various reasons apart from the strategic location. The country is filled with immense natural beauty ideal for the increasing demand for flats, houses, buildings, and villas. This offers an opportunity for accommodation intertwined with nature for a peaceful and healthy lifestyle. Convenient and efficient transport network allows traveling to various locations easily including other parts of the world. The various airports enhance transport while saving a great deal of time.
With a lot to offer in terms of natural beauty, Istanbul is a wonderful destination for retirees from various parts of the world. This increases the demand for accommodation making purchasing flats offer good returns on investment. Retirees enjoy spending time on the beach shores on the Aegean and Mediterranean coasts away from the stress of the crowd. Additionally, they can also indulge in new hobbies in this wonderful spot. The influx of retirees increases demand for accommodation making investment in real estate a viable investment.
Another great benefit of investing in a flat for sale in Istanbul is affordable living for foreigners. The Lira is weak making daily living costs more
affordable compared to that in other countries. Basic utilities, transport costs, eating out, and groceries are considerably cheap in this city. This is creating a boon for the expat community over other costly destinations like Portugal and Spain. Additionally, this affordability is backed by other conveniences including:
· Glorious weather
· Breathtaking scenery
· Efficient transport network
· Exceptional Turkish hospitality
All these features give the expat community a winning combination. The weak Lira allows stretching paychecks further and access to affordable living.
Chance to get a Turkish passport
To boost foreign investment in Turkey and to strengthen the Lira, investment of US $250,000 in real estate for three years comes with Turkish citizenship. This figure was lowered from US $1 million to make the amount manageable for most foreign investors. The government did this expecting to double property sales in the country. This is a smart move to draw money that investors would have taken elsewhere into the country. The scheme is working well as noticed in the swelling of foreign real estate investors.
Growing rental demand
There is a growing demand for accommodation in Istanbul, especially along the coast. This is enhanced by the low exchange rate of the local currency fuelling high demand for accommodation to meet the demands of the expat and the local community. The property market has strict guidelines and various property management companies with a better understanding of rules and other market legalities. Growing demand for accommodation makes investing in a flat a viable investment with potential for high returns.
Forthcoming mega projects
Another big lure for real estate investment in Istanbul is the mega projects going on. These are expected to increase property value for good ROI. There is the new Istanbul airport expected to be completed in 2028 expected to be
among the world’s largest transport hubs. Real estate investors are also looking forward to owning a piece of the European side with the presence of the Istanbul Canal Project.
There is a growing interest in real estate development in districts such as Kucukcekmece where a mini-city within a city is in the offing. Other projects changing the face of this city are the multiple transport links and bridges to ease traffic congestion. All these contribute to making Istanbul a commercial, business, and residential power center with subsequent demand for property.
When looking forward to investing in real estate, turkey is a wonderful location for various factors. The capital city is Istanbul is blessed with wonderful weather, beautiful coastal locations, and immense natural beauty. These make an investment in flats here a viable investment to meet the growing demand for accommodation for the local and expat community and retirees from other parts of the world.