Istanbul is one of the youngest and most exciting cities in the world. It is a city that never sleeps. Being the economic, cultural and historical heart of Turkey, Istanbul is also one of the most popular cities in the world. In addition, it is the only city in the globe that connects two continents i.e. Asia and Europe.
Over the years, the city has observed a boost in its real estate market. Foreign investors, who consider investments in overseas property, are showing considerable interest in buying real estate in Istanbul.
Reasons to Invest in Istanbul’s Real Estate Market
Istanbul is one of the most attractive cities for real estate investment in Europe. There are several important reasons why investors are keen on investing in Istanbul- ‘City of Growth’. Some of the major reasons are as below:
- Istanbul is amongst the top-notch cities in Europe for capital growth
- Istanbul is the center of real estate business in Turkey
- It offers high rental yield with returns above 6%-10%
- Istanbul has one of the world’s fastest moving economies with Gross Domestic Product value averaging 7.5% per annum
- Istanbul is Turkey’s 2nd largest international gateway, after Antalya, getting a quarter of the nation’s foreign tourists
- The price of property in Istanbul is quite low as compared to most other European cities
- Due to its geographical location, Istanbul is well-connected to a large number of countries throughout the world
- The Turkish government is spending a large sum on the development of infrastructure, housing, transportation and re-urbanization in Istanbul, which is making the city attractive in the eyes of investors
Key Areas at the Forefront of Istanbul Property
Some of the major areas in Istanbul that are booming in terms of property investment include central city districts and other main location properties in Macka, Beyoglu, Mecidiyekoy, Sisli, Bebek, Levent and more.
A large number of foreign investors are investing in the off plan properties in Istanbul outskirts of Beylikduzu, Bahcesehir, Kucukcekmece, Buyukcekmece and Esenyurt. These areas are the fastest developing areas that are expected to generate steep price growth and strong rental income. With regard to house sales to foreigners, Istanbul is the leading region in Turkey with 7,493 sales in 2015, followed by Antalya with 6,072 sales, Bursa with 1,501 sales, and Yalova with 1,425 sales.
Real estate is considered a strong hedge against economic uncertainties. Istanbul real estate market is offering great opportunities for investors to deploy their capital for a good return. Coupled with its rich history, cultural treasures and strong, steady economy Istanbul is the new go to destination for investment in real estate market.Visit: https://www.spotblue.com/turkey-real-estate/istanbul-property-for-sale/, to have a look upon some of the fantastic properties in Istanbul for sale.