8 reasons why Istanbul is a great city to invest in real estate
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8 reasons why Istanbul is a great city to invest in real estate

Created: 2023-04-05 Modified: 2023-11-23 Views: 999 Luxury Signature Admin
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Istanbul is a city that straddles two continents and is a hub for international trade, tourism, and culture. With its rich history and vibrant economy, it has become one of the most popular destinations for real estate investment in recent years. Investors from all over the world are drawn to Istanbul's dynamic real estate market, which has been growing steadily over the past decade. In this article, we will explore why Istanbul is a great city to invest in real estate.

 

1- Istanbul has a strategic location 

Istanbul has a strategic location because it is located at the crossroads of Europe and Asia, making it a natural bridge between the two continents. It is the only city in the world that spans two continents, with the Bosphorus Strait separating the European and Asian sides of the city. This location has played a crucial role in the city's history, as it has been a major center of trade, commerce, and culture for centuries.

Istanbul's location at the intersection of two continents has made it a hub for international business and trade. The city has easy access to both Europe and Asia, making it a natural gateway for businesses looking to expand their operations across the two continents. It is home to two major international airports, Istanbul Airport and Istanbul Sabiha Gokcen International Airport, which provide direct flights to destinations around the world, In addition to the former Ataturk International Airport, which was converted into a cargo airport.

In addition to its strategic location for trade and commerce, Istanbul's location also makes it an important cultural center. Its unique position at the crossroads of different cultures has led to a rich and diverse history, with influences from both Europe and Asia. This cultural diversity is reflected in the city's architecture, cuisine, and art, making it a popular destination for tourists and visitors from around the world.

istanbul map

 

2- The growing and thriving economy of Istanbul

In recent years, Turkey has made significant strides in improving its economic infrastructure and has become a leading player in the global economy. Istanbul has a growing economy that is diverse and robust, with a gross domestic product (GDP) of $746 billion in 2020, $819 billion in 2021, and $905.5 billion in 2022. The city has a thriving business sector and is home to many large companies, including Turkish Airlines, Koc Holding, and Is bank, making it an attractive place for businesses and investors to start a business.

Turkey's economy is diverse and resilient, with a strong manufacturing base and a growing service sector. The country is a major producer of textiles, food products, and automotive parts, among other things. In recent years, the government has also been investing in high-tech industries such as aerospace, biotechnology, and renewable energy. Turkey also manufactured a completely domestic car that was launched this year under the name "Togg", which are expected to drive future growth.

In addition to its strong domestic economy, Turkey is also a major player in the global economy. It is a member of the G20 group of leading economies and has been actively seeking to expand its trade and investment ties with other countries.

togg turkish car

 

3- The booming tourism industry of Istanbul

Istanbul is one of the most popular tourist destinations in Turkey and has been a key driver of the country's booming tourism industry. The city's rich history, cultural diversity, and vibrant atmosphere make it a must-see destination for travelers from around the world. The tourism industry in Istanbul is a major employer, providing jobs for thousands of people in hotels, restaurants, and other tourist-related businesses.

One of the key attractions for tourists in Istanbul is the city's rich history and cultural heritage. The most famous of these is the Hagia Sophia, a magnificent church that was converted into a mosque and a museum, and which attracts millions of visitors each year. Other popular tourist sites include the Topkapi Palace, the Blue Mosque, and the Grand Bazaar.

Istanbul is also a city of great natural beauty, with stunning views of the Bosphorus Strait, the Golden Horn, and the Sea of Marmara. The city has many beautiful parks and gardens, as well as several beaches and seaside resorts. Visitors can take a boat tour on the Bosphorus or enjoy a sunset over the city's skyline from one of its many rooftop bars.

The Turkish government has been actively promoting Istanbul as a tourist destination, with a focus on attracting visitors from new markets such as China, Russia, and the Middle East. The government has also invested in improving the city's tourism infrastructure, including the construction of new hotels, museums, and cultural centers.

Hagia Sophia mosque and museum

 

4- The growing population of Istanbul

Istanbul has a growing population of over 16 million people, making it one of the largest cities in the world. The city's population is expected to continue to grow in the coming years, as more people move to the city of Istanbul for work and education and a higher quality of life. This increase in population has created a high demand for housing, particularly in the city center, where real estate prices have increased significantly in recent years.

The city's growing population has brought with it a number of challenges, including traffic congestion, air pollution, and pressure on housing and infrastructure. However, the government has been investing heavily in improving the city's transportation network and infrastructure, with projects such as the Marmaray railway tunnel and the Istanbul New Airport, which is one of the largest airports in the world.

The growing population of Istanbul has also created new opportunities for real estate investors. As the city continues to grow and expand, demand for housing and commercial property is expected to remain strong. 

 

5- Affordable real estate prices in Istanbul

Despite its growing economy and booming tourism industry, Istanbul's real estate prices are still relatively affordable compared to other major cities in Europe and the Middle East. This affordability has been a significant factor in attracting investors to the city. With a little bit of research and some guidance from experts, it's possible to find affordable real estate options in Istanbul that meet your needs and budget.

If you are looking for affordable real estate in Istanbul, it's important to work with a reputable real estate agent who can help you navigate the market and find the best deals, including visiting properties, comparing prices, and negotiating with sellers.

 

6- Incentive real estate laws in Turkey

Real estate laws in Turkey aim to provide a stable and secure environment for property owners and investors, while also protecting the rights of all parties involved in real estate transactions.

The Turkish government has introduced several laws in recent years that make it easier for foreign investors to purchase real estate in the country. For example, the government passed a law that allows foreigners to purchase property in Turkey without the need for a residency permit. This has made it easier for foreign investors to invest in Istanbul's real estate market.

In addition, the Turkish government has implemented policies that make it favorable for foreigners to invest in the Turkish real estate market, such as the citizenship law of granting Turkish citizenship when buying a property worth at least $400.000.

 

7- Rising property values in Istanbul

One of the most attractive features of Istanbul's real estate market is its rising property values. In recent years, property prices in Istanbul have been on the rise, with some areas seeing double-digit growth. This trend is expected to continue in the coming years, as more and more people flock to the city to live and work.

There are several factors driving this growth in property values. One of the main reasons is the city's rapidly growing population. Istanbul is home to over 16 million people, making it one of the most populous cities in the world. As the city's population continues to grow, so too does the demand for housing. This has led to a shortage of available housing units, driving up prices for existing properties.

In addition to the city's growing population, Istanbul's thriving economy is also contributing to the rise in property values. As more businesses set up shop in the city, demand for commercial real estate is also on the rise. This, in turn, is driving up the value of surrounding residential properties.

 

8- Strong rental market in Istanbul

Another factor contributing to Istanbul's appeal as a real estate investment destination is its strong rental market. As more and more people move to the city to work, demand for rental properties has also been on the rise. This has created a lucrative opportunity for investors looking to generate rental income from their properties.

According to recent data, rental yields in Istanbul are among the highest in the world, with some areas seeing yields of up to 8% or more. This, combined with the city's rising property values, makes it an attractive option for investors looking to generate passive income from real estate.

Also, Istanbul's booming tourism industry has led to a significant increase in demand for short-term rental properties. In addition, the city's growing population has created a high demand for long-term rental properties. This has created an excellent opportunity for real estate investors to generate rental income. With rental yields averaging between 6% to 10%, Istanbul offers investors an attractive return on investment.

Frequently asked questions

What distinguishes the location of Istanbul?

Istanbul enjoys a strategic location because it spans the continents of Europe and Asia, making it a natural bridge between the two continents. It is the only city in the world that spans two continents, with the Bosphorus Strait separating the European and Asian sides of the city. This site has played an important role in the history of the city, as it is a major center for trade and culture.

What distinguishes the Turkish economy?

The Turkish economy is diversified and resilient, with a strong manufacturing base and a growing service sector. The country is a major producer of textiles, food products, and auto parts, among many other things. In recent years, the government has also invested in high-tech industries such as aerospace, biotechnology, and renewable energy. Turkey has also made a fully domestic car launched this year under the name "Togg" which is expected to increase economic growth in the future.

What distinguishes tourism in Istanbul?

Istanbul is one of the most popular tourist destinations in Turkey and is a major driver of the country's thriving tourism industry. The city's rich history, cultural diversity, and vibrant atmosphere make it a must-visit destination for travelers from all over the world.
The city's rich history and cultural heritage is one of the main attractions for tourists in Istanbul, and it includes many historical monuments that tourists from all over the world come to visit, the most famous of which is the Hagia Sophia, which is a wonderful church converted into a mosque and museum, and attracts millions of visitors every year. Other popular tourist sites include the Topkapi Palace, the Blue Mosque and the Grand Bazaar.

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