Many investors are looking to buy a distinctive property in a foreign country, where they can enjoy several advantages, including the country’s economic welfare, which represented by the high economic growth and low cost of living. Other features have to do with the property itself, such as the unique architectural design and luxurious social life facilities. Not to mention beautiful nature, competitive prices, and high returns, which are additional advantages investors might consider.
Turkey is one of those countries that can offer you all of these benefits, thanks to its strategic location between Asia and Europe and prominent real estate sector, which makes it one of the best countries for real estate investment in the world.
When Turkey is mentioned, the first thing that comes to mind is Istanbul, the city with a beautiful beauty that has no boundaries, and the historical and cultural capital in which great civilizations were established over time leaving behind them ancient historical treasures.
Istanbul is the city that embraces both the Marmara Sea and the Black Sea, divided by the Bosporus Channel, which adds more beauty to this city to become a tourist and commercial destination for millions of people around the world.
Istanbul with distinctive properties
Turkey’s unique location enhances the Turkish government to make great efforts to improve the investment environment in Istanbul. For two decades, a huge budget has been spent on the infrastructure, which in turn supports a high growth of the real estate sector, and encourage higher domestic and foreign demand for residential and commercial properties in Istanbul.
In Istanbul, the real estate market has boomed dramatically in the last decade, recording properties sales of (17,200) in July 2019, with a share (17%) of the total real estate in Turkey, which is the highest percentage among Turkish cities. In terms of new apartments, Istanbul also took first place with sales of (6,709) houses.
Moreover, the investment laws issued recently, as well as the Turkish lira’s depreciation that Turkey has witnessed, has promoted the real estate investment in Istanbul to become a more attractive destination to foreigners all around the world. The property sales to foreigners recorded about (1900) houses, with a significant increase of 50% compared to 2018.
- Luxury apartments in Istanbul
Istanbul also involves luxurious residential complexes with unique architectural styles, built according to international construction standards, and equipped with prestigious services, such as the security system and smart home. Also, most of the residential complexes involve social life facilities such as playgrounds, swimming pools, and gym centers. Moreover, the projects have easy access to universities, schools, hospitals, and public parks.
In Istanbul, the real estate prices are competitive; the average price of an apartment is around (388,630) TL, while the price per square meter varies between (1,960 -8,492) TL, with promising capital returns, according to Endeksa.
- luxury villas in Istanbul
For villas, Istanbul includes several luxury projects of villas that provide a unique life for those who want a high standard of living. Villa projects equipped with luxurious social life facilities, with acceptable prices; the average price of the villa is (1,344,240) TL, while the price per (sq. m) varies between (2,387 – 15,094) TL.
For returns on investment, which include rent, exceed (12%), while the capital returns are estimated at (7.8%), providing a profitable investment opportunity.
- Commercial property in Istanbul
Commercial properties involve business offices, commercial, and industrial stores. Since 2014, commercial real estate prices have witnessed an increase of (40%), with an average price of (794,880) TL. For the capital and rental returns, although they are seeing a decline in the current period, it is expected to recover in the next six months, according to data published via the Endeksa.
Finally, whether you want to buy a property in Istanbul to gain capital returns, or to rent it and earn profits, or even if you want to live in enjoying the city’s unique environment, you remain the biggest winner.