Turkey has a transcontinental location between Asia and Europe which encircled by seas on three sides. In fact, Turkey's land area is larger than any European state and almost most of the country on the Asian continent. In Turkey, you can easily experience fours season at the same time thanks to its geographical climate. The country also has a rich history, vibrant social life, and cultural heritage which is very interesting for many people from all over the world. Besides all, Turkey is truly a unique country which has one of the most beautiful cities in the world, Istanbul!
Turkey’s economy is rapidly growing in the last 20 years significantly in line of the construction industry. According to experts, the Republic of Turkey will soon enter the top ten emerging markets index by 1 trillion dollars. This projection indicates a stable economic situation that is subject to reliable control even in times of crisis. A stable economy and government policy in this area are the main pillars of successful real estate investment. That is why especially foreign investors increasingly continue to invest in real estate in Turkey. The Turkish government is also interested in developing this sector at real estate or investment levels. Over the past decade, the Turkish real estate market has provided about 10% of GDP. Besides, almost half of the total investment is made by foreign nationals. One of the many examples for facilitator regulations is, people residing abroad are free to transfer the immovable property sales or revenues derived from sales relating to real estate acquired in Turkey via banks. Moreover, as figures show Turkey has affordable real estate prices in comparison with other European and Asian countries with reduced taxes.
Q: Is Turkish economy promising?
A: Yes, it is really promising. Last 20 years Turkey’s economy is continuously and dramatically growing. Very soon enough Turkey’s total market index will reach 1 trillion USD which would make Turkey one of the top ten emerging markets.
Q: What is the share of foreign investment in real estate sector in Turkey?
A: Turkish real estate market provides almost 10% of whole GDP. And approximately half of the total investment is made by foreign nationals.
Q: Does Turkey have a young or old population?
A: Turkish has a very young population comparing to whole western countries that makes the country’s economy and cultural life very dynamic.
Q: Why is Turkey’s economy growing?
A: Turkey's economy is expected to emerge this year from a prolonged slump and grow as much as 4% annually, propelled by resurgent consumer demand as the coronavirus pandemic ebbs, according to government officials, top businesses and analysts.
Q: Does Turkey have affordable real estate prices?
A: Yes indeed. Turkey has really very reasonable real estate prices in comparison with other European and Asian countries with reduced taxes.
Reasons to Invest in Istanbul Property
Istanbul is one of the developed metropolises with reasonable prices comparing with other big cities in the world. It is also the only city that connects two continents Asia and Europe. Besides, it is one of the greatest cities in the world, at the crossroads of civilizations and a connection hub that you can reach most of the places around. Istanbul has recently become one of the world’s most popular tourism destinations due to its beautiful landscape, unique historical and archeological sites, exotic culture and modern infrastructure. So, there is quite a good option available to choose from with modern interiors and attractive resources nearby like malls, luxury spas, and hair salons.
Today Istanbul is considered the most important economic center in Turkey, providing about 25% of the Turkish national income, and contains nearly 20% of the population of Turkey's 84 million people. Having a property in Istanbul is one of the best choices in Turkey. So, you can both enjoy living in the city as well as you will have awesome rental possibilities and income prospects as an investor.
The price of living is quite low. Fresh fruits and vegetables are extremely cheap at the market. There are so many shops with cheap but stylish and high-quality clothes and home textiles. Many people come to Turkey with the purpose of buying local jewelry, leather and fur. Prices for most of the products and services are much cheaper than in Europe or USA.
Istanbul offering reasonable prices which makes this city very significant and ideal for foreign buyers. House values this low are practically unheard of in any large, reasonably developed global city like Istanbul. Because prices per square meter for apartments in Istanbul have declined dramatically in dollar terms. Thus, foreign property buyers may benefit from the really low prices of the real estate in Istanbul, as well as cost of living. Istanbul also has a great investment return in the form of rental income as most of the properties in the city offer 12 months rental potential.
Q: What is the population of Istanbul?
A: With more than 16 million Istanbul is the biggest city in Turkey and even bigger than any other cities in Europe.
Q: Is buying a property in Istanbul really an ideal investment?
A: In all terms it is profitable investment. Prices per square meter for apartments in Istanbul have declined dramatically in dollar terms right now. Real estate values is really low comparing to developed global cities in the world.
Q: Does Istanbul have a central location?
A: Actually, Istanbul is the only city that lies on two continents (Asia and Europe). We can easily say that Istanbul is a hub from where you can reach anywhere. Moreover, it is one of the greatest cities in the world, at the crossroads of civilizations.
Q: What is situation of the tourism industry in Istanbul?
A: Istanbul is one of the world’s most popular tourism destinations due to its beautiful landscape, unique historical and archeological sites, exotic culture and modern infrastructure. Many remnants of the Ottoman empire mingle with contemporary architecture, while dramatic natural wonders and tranquil vistas await visitors on both sides of the city.
Q: Can I use my credit cards for shopping?
A: Yes, you may use their credit cards and debit cards for all kinds of purchases in Istanbul. It is advisable, however, to carry some cash with you in case you take trips away from the city center or travel to smaller towns or villages.