What Opportunities Await You: Turkey Property for Sale IstanbulWed, Nov 24, 2021 12:00 AM
Istanbul is the most valuable and visited city in Turkey. Besides being an important city in terms of its history, cultural texture, and business opportunities, Istanbul also offers a great investment opportunity. There is an increasing trend among foreigners to invest in property in Istanbul.
In this guide, we are going to discuss buying a property in Istanbul, Turkey. Below, you can find everything you might want to know before buying any property. Besides their informative value, the following information can also help you to gain a better insight into Istanbul.
Is It a Good Idea to Buy Property in Istanbul?
With a more than 30% annual increase in real estate prices, Istanbul is one of the best cities to buy a property in the world. Your hard assets can make money every passing year due to the inflation and increasing trend in investing in Istanbul.
You do not have to be an expert in finance to make money in Istanbul. All you need to do is invest in any real estate and enjoy your profits in the near future.
Can Foreigners Buy Property in Istanbul?
Regardless of his or her nationality, ethnicity, gender, or political view, anyone can buy property in Istanbul. However, there may be certain limitations or restrictions. Although slim, if you have been involved in any kind of terrorist activities in the past, the government will prevent you from buying.
In addition to this, foreigners cannot purchase property around the military areas. These are standard limitations that every country implements. So, in general, there is nothing to worry about investing in property in Istanbul as a foreigner.
Where Is the Best Place to Buy a Property in Istanbul?
If you are planning to invest in property in Istanbul to make money, then you can prefer any district. On the other hand, if you are planning to move to Istanbul, you might want to invest in more valuable properties. Below, you can find some of the popular districts in Istanbul for both investing and moving.
Cheapest Districts in Istanbul for Investment Purposes
Expensive Districts in Istanbul for Living
What Are the Advantages of Buying a Property in Istanbul?
If you are unsure about whether you should invest in property in Istanbul, then this section is for you. We have covered everything you need to know before buying a property in the city. The following facts can be quite useful for both who are planning to move to Istanbul or just invest to make a profit.
Profitable Investment – Best ROI
Turkey is the leading country in annual real estate price increases in Europe. The country holds this title for three years in a row. The Turkish Lira is losing value every passing day and attracting more and more foreign investors.
This allows the investors to make about 30% of their original investment every year. You can also rent your home through Airbnb or similar platforms to make money while keeping your real estate for a future sale.
With more than 15 million registered residents, Istanbul is the most populous city both in Turkey and in Europe. In fact, Istanbul’s population is larger than some European countries too. You can easily meet and find people that have the same nationality as you in Istanbul.
Business opportunities, healthcare tourism, and quality education are attracting more foreigners every year. Hospitable Turkish culture also supports this trend.
Great Business Opportunities
Considering its strategic location, Istanbul is one of the best cities in the world to start and run a business. Istanbul Airport is one of the main airports for cargo shipping too. You can easily access all around the world with any transportation method.
Low taxes and affordable costs also attract many international companies to Turkey. Lastly, Swedish furniture giant IKEA decided to move its manufacturing facilities to Turkey. Istanbul is also a great destination for digital nomads.
If you own a property in any city in Turkey, you can get a quick and hassle-free residence permit. Those who are planning to live in Istanbul for a while can benefit from this opportunity and do not worry about legal permission.
Besides, you can easily get a job in the city. Many foreigners prefer to work in the education or healthcare industry. Turkish companies are quite open-minded and prefer to hire foreigners for their operations.
Cheap Cost of Living
The cheap cost of living in Istanbul will amaze you. If you have an income in another country and you are living in Istanbul, you can save money while living in luxury. The citizens of neighboring countries usually visit Turkey to shop and spend a few days taking a break from the chaos of the cities.
You do not have to give up on your standards while living in Istanbul. In fact, you can raise these standards and save more money than you would in your hometown.
Turkish people are famous for their hospitality. They show a great interest against foreigners, especially when those foreigners try to speak Turkish. This hospitality can lead to culture shock for some foreigners. Therefore, we recommend getting ready for such a shift when you move to Istanbul.
In addition to this, get ready for special discounts you are going to get just because you speak a few Turkish words.
One of the biggest advantages of living in Istanbul or buying a property in the city is its famous cuisine. You can enjoy the finest examples of Turkish and Ottoman cuisine in Istanbul. In addition to this, you can also find plenty of restaurants run by famous foreign chefs. If you enjoy quality food, Istanbul can offer you more than you expect.
Foreigners who buy real estate in Istanbul worth $250,000 can directly apply for Turkish citizenship. All you need to do is keep your property for three years. Moreover, the Turkish government allows dual citizenship. This means that you do not have to give up on your main citizenship to enjoy the benefits of Turkish citizenship.