As we stand on the cusp of a new year, real estate enthusiasts and investors are keen to know what awaits them in the real estate market in Istanbul. Istanbul, the city that harmoniously connects east and west, has always been a destination for real estate investment, as it attracts the attention of both local and foreign investors. In regards to the year 2024, real estate investors and researchers are looking with anticipation at the real estate market prospects in this vibrant city. In this article, we give you an overview of our expectations for the real estate market in Istanbul in 2024.

More economic growth

The real estate market in Istanbul has shown remarkable resilience in the face of economic fluctuations and global challenges. This trend is expected to continue in 2024. Despite external factors, Istanbul's strategic location, strong infrastructure development, and diverse real estate options are all factors that attract more investors. Experts expect that Istanbul will witness more economic growth in 2024, which will support further progress and prosperity. Istanbul is characterized by many factors that make it one of the most important economic cities in the world, including its strategic location, as Istanbul is a bridge connecting European and Asian continents, and this unique geographical location makes it a strategic center for business, trade and investments.

Investment opportunities in new neighborhoods in Istanbul

With the end of 2023 and the approach of the new year 2024, the perfect time has come to explore investment opportunities in the new and emerging neighborhoods of Istanbul. While the historical neighborhoods of Istanbul will continue to be very popular among investors, it is expected that emerging areas will steal the limelight in 2024. Areas undergoing rapid urban transformation, such as Beylikduzu, Basaksehir and Kagithane, offer attractive investment opportunities with reasonable prices and a high potential for capital appreciation and profits in the near term. As the city's natural and urban landscape develops, smart investors may find higher returns and capital appreciation potential in these developing areas.

Environmentally friendly initiatives and sustainable real estate projects

Sustainability is no longer just a buzzword in Istanbul's real estate sector. In 2024, we expect a significant increase in green building initiatives. Recently, real estate developers are adopting eco-friendly designs and energy-efficient technologies, not only to meet environmental standards but also to meet the growing demand for sustainable living spaces. In 2024, more real estate projects are expected to adopt sustainability principles, such as the use of environmentally friendly building materials and energy saving technology such as solar and wind, to reduce carbon emissions and provide clean and sustainable energy sources. These initiatives and projects reflect Istanbul's commitment to sustainability and environmental preservation. These efforts make the city an ideal destination for investment and living as we head towards 2024 and beyond, when we can expect even more progress in the area of sustainability and the environment.

Smart homes in the age of technology

Technology plays an increasingly important role in our daily lives, and homes have been no exception to this development. Istanbul, a global city that is rapidly rising in technology and real estate, is expected to witness more innovative, technology-enabled smart homes during 2024. Istanbul's real estate market is embracing smart technology with open arms. In 2024, we expect a boom in technology-enabled properties offering integrated security systems, home automation and energy management solutions. Smart homes in Istanbul provide advanced security systems that include surveillance cameras, alarm systems, and remote control, where residents can monitor their homes and interact with security systems via their smartphones. Also, residents can control their home systems such as lighting, heating, cooling, and home appliances easily through smartphone applications, which in turn helps improve energy efficiency and comfort of living. These features are not only attractive to buyers but also enhance the property value.

Government policies and incentives

Government policies and incentives have long played a crucial role in shaping the real estate market in Istanbul. The real estate market in Istanbul is considered one of the most important economic sectors in Turkey, and government policies and incentives play a major role in encouraging investment and supporting sustainable development in this sector. In 2024, Istanbul is expected to witness significant developments in this context. In 2024, we expect policies aimed at promoting foreign investment and supporting the construction sector to continue. Istanbul government intends to simplify procedures and facilitate the process of obtaining real estate permits for developers and investors, and this move will contribute to stimulating real estate projects and accelerating their implementation. Also, the government is developing new areas in Istanbul to stimulate economic growth and provide new investment opportunities, including the development of residential, commercial and industrial areas within the city of Istanbul. Istanbul also continues to develop large, multi-use real estate projects, such as residential complexes, commercial centers, and tourism projects. These government policies and incentives play a crucial role in driving the growth of the real estate sector in Istanbul and stimulating local and international investments. These measures create a positive environment for developers and investors and contribute to enhancing economic development and sustainability in the city.