If you intend to enter the real estate market in Istanbul, you should know that you will encounter many elements and reasons to help you achieve the success you seek.
In this article, you will learn some information about the real estate market in this city.
Advantages of the real estate market in Istanbul
1 - Istanbul is one of the most beautiful and culturally rich cities in the world located on two different continents, Europe and Asia, spanning a total area of 5.5 million square kilometers and is home to more than 15 million people from all walks of life.
2 - Istanbul is a fast-growing city, and its population is expected to reach 20 million by 2025. This population growth will increase the demand for real estate, leading to higher prices.
3 - Istanbul’s young population is 60% of the population under the age of 35 and this age group is more likely to rent or buy real estate than the older generations.
4 - Istanbul’s popularity among foreign investors is increasing, due to its stable political environment and strong economy. In 2018, there was a 36% increase in the number of foreigners buying real estate in Istanbul compared to the previous year and this continued at the same pace for the following years, and this was proven by the statistics issued by the official authorities.
5 - Mortgage interest rates are currently at their lowest, making it an ideal time to buy property in Istanbul.
6 - The Turkish lira has lost about 30% of its value against the US dollar, making real estate in Istanbul affordable for foreign buyers.
How to buy real estate in Istanbul?
This diverse market means there are many ways to buy real estate. It can be purchased in installments, it can be under construction, and you can choose ready-to-move-in properties, and it can be through cash payment. Here are some important details:
- Look for an under-construction project: You can find some good deals on unfinished properties in Istanbul as developers are always looking for buyers, and you may be able to negotiate a good price.
- Pay with cash: If you have cash on hand, you can get up to 10% off the purchase price.
- Look for a ready-to-move-in property: These properties are usually more expensive than properties under construction, but they offer the advantage of being ready to move in.
- The most common way to finance the purchase of real estate in Istanbul is the installment plan where most developers offer flexible installment plans over a period ranging from 2 to 5 years and often up to ten years and this makes it easier for buyers to buy their dream home in Istanbul.
The most important areas for buying real estate in Istanbul
The city of Istanbul contains 39 districts spread across both Asian and European sides, the most important of which are:
1- Beylikduzu
Beylikduzu is a rapidly developing area located on the European side of Istanbul, about 20 km from the city center. The municipality is famous for its wide open spaces, parks, and tree-lined streets. It is also one of the most important real estate investment areas in Istanbul due to its proximity to the Marmara Sea, clean air, and infrastructure. In recent years, many local and foreign investors have purchased real estate it as an investment or for their use.
2- Bahcesehir
Bahcesehir is another important real estate investment area in the European side of Istanbul, about 25 km from the city center, and the municipality is famous for its wide open spaces and modern infrastructure. It is also one of the most important real estate investment areas in Istanbul due to its proximity to the Marmara Sea and its clean air.
3- Esenyurt
Esenyurt is one of the most important real estate investment areas in Istanbul due to its strategic location and growing infrastructure.
Esenyurt is located on the European side of Istanbul, close to Ataturk Airport and the new airport and it is also close to the TEM highway, making it easy to reach any part of Istanbul.
In addition, Esenyurt is one of the most populous districts in Istanbul with a population of about 750 thousand and this makes it a suitable place for those who want to invest in real estate for rental purposes.
4- Sisli
Sisli is one of the most popular areas of Istanbul among foreign investors is located on the European side of the city and is well connected to other parts of Istanbul by public transportation. There are many luxury apartments and offices in Sisli.
Real estate prices in Sisli are higher than the average prices in most areas of Istanbul but still lower than the prices in central areas such as Beyoglu and Besiktas.
5- BakirKoy
Bakirkoy is another central district of Istanbul located in the European side of the city and it is well connected to other parts of Istanbul by public transportation and has a lot of amenities like hospitals, schools, and shopping malls.
6- Besiktas
Besiktas is one of the most beautiful historical areas of Istanbul, it offers a great view of the Bosphorus and it is very close to the city center and the prices of apartments in it are a little higher than in other neighborhoods but still, a good opportunity can be found.
The future of the real estate sector in Istanbul
Istanbul is a city that has experienced continuous growth over the past few years and the real estate sector has played a big role in this growth.
The future of the real estate sector in Istanbul looks bright as the city is constantly expanding and there is a great demand for real estate ownership in it.
The government is also investing heavily in the city's infrastructure, which will make it more attractive to investors.
There are many opportunities for those who want to invest in the real estate sector in Istanbul as the city offers great growth potential and there are many projects currently underway that will increase the value of real estate in the city.
Let us offer you a lot of real estate and investment opportunities that are suitable for you and your goals, and we offer you a set of important advice that will help you make the right choice.
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Advantages of buying a property in Turkey with Number One Real Estate:
Number One is one of the leading real estate investment companies in Turkey, providing all kinds of real estate services within the Turkish real estate market
We offer our clients all types of real estate from
Villas for sale in Istanbul by the sea, cheap real estate for sale in Istanbul, office apartments and shops in various regions of Istanbul, apartments within the most luxurious residential complexes in Turkey, we take care of the procedures for obtaining Turkish citizenship and real estate residence
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