A large portion of foreign and local real estate investment is now focused towards Istanbul City. So much so that 2019 has been the best year in terms of foreigners investing in the Turkish real estate market. This latest upward trend has Istanbul City poised to have its name become synonymous with global cities such as Milan, Paris, New York City etc. Some of the statistics suggest that the percentage of houses sold to foreigners has risen by an astounding 103% since 2018. With all of the aforementioned aspects covered, here are a few reasons why the Turkish Real Estate Market is flourishing, with majority of the focus being towards Istanbul:
- The Economy – Turkish economy is one of the key reasons why the foreign buyers are attracted towards the Turkish Real Estate. With a large chunk of Foreign Direct Investment (FDI) coming in through real estate alone, the already dubbed “fastest-growing economy among all G20 countries” is very likely to only progress. Bearing that in mind and the probability of high Return On Investment (ROI) that is likely to get better every year, Istanbul city has become a top destination for Turkish real estate investment among the settlers and businessmen alike.
- Opportunities for Investment – Istanbul City is not just a traveller’s heaven, but a businessman’s heaven as well. There’s a number of highly lucrative investment avenues that can promise decent dividends, namely, stock markets, the agricultural sector, industrial sector, commercial sector and of course, the real estate sector. The latter being the most lucrative of them all, specifically, if we put Istanbul into context since a huge number of people are always looking to buy property in that area. And even if they’re not, the value of the property is only likely to increase by every passing minute, due to being massively famous among investors and tourists alike.
- Leisure and Recreation – Istanbul City is regarded all around the world as one of the liveliest and most vibrant cities in terms of richness of culture and the sheer number of recreational spots. Few of the absolute ‘must-experience’ avenues include the Turkish street food, Istanbul Personal Shopper, Modern Art Museum, Zoe Yacht Cruise, visiting historic avenues such as Topkapi Palace, Sultanahmet, The City Wall and Sakip Sabanci Museum and explore and be amazed by the wonderful stories behind the Turkish heritage.
- The Ultimate Reward – One of the reasons why people are eyeing at Turkey for the real estate investment is due to the government’s generous gesture of offering residency permits to those who invest up to $45,000 in the Turkish Real-Estate Market. What’s even better is that if a buyer spends up $250,000 in the Turkish real-estate, they shall be granted Turkish Citizenship. This implies that whether you want to settle in Turkey or just invest in the property as a business venture, Istanbul City is among the best real estate investment destinations in the world today.