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Istanbul is the capital of economy, trade and tourism, and the beating heart of Turkey. It is also one of the strongest economic cities in the world, and huge investment projects are launched in many fields and are constantly growing, and these projects vary between governmental and private ones, which aim to encourage foreign investments, especially real estate investments in Turkey, and in particular the purchase of apartments in Istanbul.
Buying an apartment in Istanbul is a dream for many investors. Below we mention the advantages of buying an apartment in Istanbul in general, and in the center of Istanbul in particular.
Advantages of buying an apartment in the center of Istanbul
1- Proximity to the important vital centers in the city, such as the Bosphorus Strait, the Eurasia Tunnel, and the bridges that connect the European side of Istanbul with its Asian side, which add high value to the property.
2- The strong infrastructure in the center of Istanbul, and the availability of all means of public transportation and metro lines, makes the center of Istanbul the most desired area by investors and real estate buyers.
3- Istanbul's most important shopping centres such as, Istinye Park Mall, Vadi Istanbul Mall, Cevahir Mall, and Zorlu Shopping Center, are located in the areas of Sisli and Maslak in the center of Istanbul, in addition to the presence of Istanbul's most important universities such asBahcesehir University and Nisantasi University, as well as the most important hospitals, medical centers, clinics, and other facilities and services of interest to buyers and tenants are close to the property.
4- The high investment return and the guaranteed profits from investing in real estate in the center of Istanbul, especially when buying a property under construction in the center of Istanbul. The profit potential is high and may reach 70% as a profit increase on the capital within only three years.
5- The center of Istanbul is the first destination for businessmen who frequently visit Istanbul to pursue their commercial interests, and studio apartments within the towers, skyscrapers, and hotel apartments are the perfect choice that these merchants are looking for better privacy and comfort than hotels.
6- The center of Istanbul is also the first destination for tourists, due to the presence of all tourist attractions, vital centers, and shopping centers, as we mentioned earlier, in the city center. The attractive tourist power of the center of Istanbul increases the possibilities to rent properties during the tourist seasons throughout the year,which gives investors the opportunity to make a profit and increase their return on investment.
Advantages of buying an apartment in Istanbul
1- You have the right to apply for real estate residence in Turkey, for you and your family members. - You have the right to apply for a residence permit in Turkey for you and your family members.
2- You have the right to apply for Turkish citizenship, for you and your family members, if the value of the apartment is not less than $400.000.
3- The possibility of obtaining the Turkish passport, one of the strongest passports internationally, which is ranked 53 in the world, after obtaining Turkish citizenship. - The possibility of obtaining a Turkish passport, one of the strongest passports in the world, which is ranked 53rd in the world, after obtaining Turkish citizenship.
4- The cost of living in Istanbul is relatively low, compared to the rest of European countries, in addition to the high quality and luxury of construction, strong infrastructure, huge projects that are constantly growing, financial and investment freedom, and benefits from the Turkish government.
5- The high demand for real estate in Istanbul, which contributed to rising property prices. - Property sales in Istanbul are expected to reach an all-time high in 2023.
6- The variety of options available when buying property in Istanbul, including residential projects, shops, and villa projects. The quality of these projects and luxury standards vary in proportion to investors' preferences and budgets.
Frequently asked questions
What distinguishes apartments in the center of Istanbul?
Apartments in the center of Istanbul have a privileged location, as they provide residents with easy access to many recreational facilities and tourist areas. In the central areas of Istanbul, such as Beyoglu and Sisli on the European side, and Kadikoy on the Asian side, there is a variety of residential options, from elegant penthouses to the comfortable studios. The convenience of being in the heart of the city allows residents to have access to several transportation options, including public transportation networks that are well connected to the rest of the city, making it easy to move around the city and beyond.
Does investing in apartments in the center of Istanbul achieve high profits?
Istanbul Center offers an attractive investment opportunity due to its prime location and ever-increasing demand. Properties in these areas have the potential to generate long-term profitable returns and rental income. Istanbul's status as a global economic and cultural center, along with the ongoing urban development and urban renaissance projects, further contributes to the positive investment future.
What is the minimum price to buy a good apartment in Istanbul in a good neighborhood?
The minimum price range for buying a good apartment in a desirable neighborhood in Istanbul can vary depending on several factors, including the location, size, quality and facilities of the property, as well as the current market conditions. Generally, in popular neighborhoods with easy access to amenities, transportation, and desirable features, the lower price range for a good apartment usually starts from $250.000 to $350.000.
Is buying property in Istanbul good idea?
Buying property in Istanbul is an excellent idea for foreigners. The city offers relatively low prices compared to other major international cities, a diverse range of property options, attractive rental yields, and excellent global connectivity.
Is it a good idea to buy an apartment in Turkey?
Buying an apartment in Turkey is a great idea. The average house prices in Turkey are lower than in Western countries, allowing buyers to purchase luxury properties at the cost of an average home in places like the US. As a popular tourist destination, Turkey offers opportunities to own profitable rental properties.
What are the benefits of buying property in Turkey?
The benefits of buying property in Turkey include affordability, driven by several factors. Turkey has lower living costs compared to many Western European countries and the United States. This lower cost of living extends to the real estate market, making property prices more affordable for both locals and foreign buyers.
Can I get a bank loan to buy property in Turkey?
Yes, foreigners can obtain bank loans to purchase property in Turkey. Loans are provided based on the terms and guarantees specified by the bank.
