The real estate market in Istanbul is a great arena for competition
Over the past few years, real estate in Istanbul has been able to be among the first in the world in the importance of real estate investment.
Did you know that the real estate market in Istanbul is a suitable arena for competition, in which many different nationalities gather around the world. If you want to know the important details related to it, take a look at the following article, which will include the most important information related to it.
We wish you an enjoyable reading.
The importance of the real estate market in Istanbul:
Real estate in Turkey has witnessed development and growth that made it the focus of attention of many investors around the world, and it turned out that the Turkish government is one of the most important governments in terms of the facilities it provided to foreigners. These properties attract businessmen and money holders without exception.
In the following paragraph, we will indicate the most important reasons that contributed to the rise in the value of real estate investment in Istanbul:
1 – It is really puzzling that this city is witnessing a boom and recovery in its real estate sector with all the economic and political crises that the world is experiencing today. Turkey in general has not been affected by any of them thanks to its continuation on the path of development and excellence for 20 continuous years that included its various economic, political and industrial fields.
2 – The city of Istanbul has a unique geographical location as it spans two continents at the same time (Europe and Asia). Add to your information that the Bosphorus Strait separates its two sides, which gave it more importance.
3 – The historical and cultural importance of Istanbul, which stemmed from the diversity of cultures and civilizations that followed it, cannot be overlooked. Did you know that due to the historical, tourist and archaeological landmarks owned by this city, it has become one of the most important tourist destinations in the world.
4 – The real estate market in Istanbul is witnessing a great diversity. The most important construction companies have built luxury housing complexes with high-end engineering designs, and they also adhere to international standards (earthquake resistance – heat and sound insulation).
5 – Real estate prices in Istanbul have stimulated many investors and money owners. If you compare them with prices in European cities, you will find that they are suitable and cheap, in addition to the presence of many real estate opportunities available that suit everyone.
6 – Did you know that Istanbul is one of the most important cities in the world that contains strategic projects and infrastructure projects, and here are the most important ones:
– It has the largest air transport station in the world (Istanbul New Airport).
– Work is underway to implement the Century Project as it was called (New Istanbul Water Canal).
– Turkey is building highways, which has reduced congestion.
– It is constantly expanding in public transportation networks and works to supply it to all regions, even the most remote ones.
– The Turkish government is constantly announcing new projects in order to attract more foreign capital and to compete with the most important countries in the world, especially the countries of the European continent.
Factors affecting real estate prices in Istanbul:
You cannot get a specific answer about real estate prices in Istanbul because they differ according to many factors and influences, and this is what we will mention in the following paragraph:
1 – The location of the property has the largest role in determining its financial value. As it was strategic, this led to a significant increase in its value. Therefore, when buying a property for real estate investment, it is recommended to choose an apartment with a privileged location.
2 – Real estate prices rise with a decrease in the number of offers available for sale and decrease with an abundance of offers.
3 – The total area of the property, as the larger it is, the lower its price and vice versa. Add to your information that it is not recommended to buy a large apartment if you want to invest in it because the demand for it is low.
4 – Does the area in which you want to buy a property include distinctive projects? Is it planned to create a project in the future?
5 – Is the property located on the European side or on the Asian side? Prices on the European side are higher than those on the Asian side for many reasons, including:
– The most important infrastructure projects are concentrated there.
– It contains the most important historical and archaeological monuments such as palaces and museums.
– Many real estate investors are heading towards it.
– The Turkish government is giving it more attention.
– In it, you will find the most important real estate projects ever and more upscale and luxurious.
– It is characterized by the liveliness and hustle of the mainstream lifestyle.
In the context of talking about real estate prices in Istanbul, it must be noted that it is expected to record a large visit during the current year, ranging between 40 and 50% for many reasons, the most important of which are:
– The demand for real estate has increased dramatically.
– Foreigners and tourists flocked from different countries of the world.
– Rising prices of raw building materials.
– High population density in the world.
– Urban transformation projects that are spreading in the city.
How is real estate investment in Istanbul profitable?
There are fixed rules that you must take into account when investing in real estate in Istanbul, the first of which is to accurately determine your financial balance so that you do not have to get a loan or borrow and face difficulty paying it later.
If your budget is low, you can resort to buying a property in installments or under construction because ready properties often have a higher price.
It is not enough to just like the real estate, but you must see the future of the investment area and its location. Is it close to important projects or not? Are public services nearby? Public Transport?
Fully trust that choosing to buy a property in a new area that is witnessing a renaissance and urban acceleration is a great option because its prices are constantly increasing because the demand for it is great.
Finally, in order to obtain abundant profits, you must be patient and not rush to make your decisions, and do not forget the need to use a real estate company with experience and knowledge in the real estate sector to provide you with the most important real estate opportunities and help you choose and provide you with appropriate tips and advice.
If you want to be a part of the competition in the real estate field in Istanbul, all you have to do is contact us to provide you with what suits you and save you the trouble of searching.
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