What Do You Know about Istanbul's Real Estate Market?
Last Updated: 2023-07-27
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What Do You Know about Istanbul's Real Estate Market?
Did you know that Istanbul's real estate market is one of the largest and most important real estate markets in the world? This has been demonstrated over the past 10 years, where buying and selling has increased significantly as foreigners are interested in owning real estate and the most important construction companies are moving towards building the most important modern residential and investment projects.
The editorial team at Marsat Real Estate has prepared a full report to let you learn about the most prominent information and details related to the purchase of real estate in Istanbul.
Have a useful reading!
Istanbul's Real Estate Attracts Foreigners from Different Countries of the World
Istanbul's real estate sector has been able to attract businessmen, investors and foreign capital thanks to the presence of many luxury residential projects and complexes. Do not forget that it embraces dozens of development projects that have had a positive impact on the value of real estate, where it contributed to increase the price, and its greater impact is on the surrounding areas.
Istanbul tops the list of Europe's most important cities in attracting foreign investment, particularly attracting Middle Eastern investors in the light of the economic and political collapses and crises that Arab countries are facing.
Why Do You Look for Properties for Sale in Istanbul?
Whether you want to invest in real estate or for housing and residence, there must be important reasons for owning real estate in Istanbul, which we will talk about in detail in the following paragraph:
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What encourages any investor to move towards the real estate sector in Istanbul is that real estate prices are constantly increasing, confirming the copious profits they will receive.
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The importance of real estate in that city increases over time, thanks to its modernity, sophistication, modern designs, the plenty of offers available for sale, and the great real estate diversity that suits all tastes.
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When we talk about Istanbul, we refer to one of the most important cities in the world, since it is the economic capital of the Türkiye and has ranked fifth in the world in terms of large population.
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One of the largest projects recently built in the city is (Istanbul Airport), which has been ranked among the world's largest and most modern airports.
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Besides, the facilities provided by the Turkish government such as tax cuts and easy ownership procedures.
The city consistently tops the list of Turkish cities that sell real estate for foreigners as it is always their first choice.
Property Prices in Istanbul
You will initially think that real estate prices in this city are very high because of their advantages, importance and suitable only for high budget holders. However, when you look closely and get deep into it a little, you will find that they are suitable for everyone without exception, as its prices are competitive with most cities similar to it in terms of status and importance.
Did you know that the prices of apartments and real estate in that city are about thirty percent cheaper than those in the Arab Gulf countries? This has drawn the attention of Arab investors to it.
If you don't have enough budget to pay for the property in cash, there are plenty of premium installment offers for high-end properties, where construction companies are keen to offer a lot of offers and high discounts in order to attract investors.
Some of the Most Prominent Advantages of Real Estate Ownership in Istanbul
Let us tell you that there are some basic benefits that drive foreigners to own real estate in Istanbul:
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To Get the Real Estate Residence Permit:
Once you purchase a residential property in Türkiye, you can apply for this residence permit, which is considered one of the most important and prominent types of residence permits in Türkiye, based on the privileges that the holder can get:
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This residence permit can be easily obtained and renewed annually.
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It is given to the whole family.
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Grants its holder the right to travel between the Turkish provinces and travel abroad without the requirement of obtaining a permission to travel.
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Access to a lot of advanced medical and educational services.
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An Opportunity to Obtain Turkish Citizenship:
Those who wish to obtain Turkish citizenship through real estate investment are focused on real estate whose specifications correspond to the conditions for obtaining it, i.e. a minimum price of US$400,000.
It should be noted here that whoever owns more than one property in Istanbul or abroad can obtain Turkish citizenship, provided that their total price is not less than US$400,000.
Do I Purchase a Property in Istanbul on Its European or Asian Side?
You certainly know that Istanbul spans Asian and European continents, which makes the buyer confused, which side is better?
Before you choose, you should know all the features and details that are related to each one of them as follows:
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If you like the quiet life surrounded by greenery and nature, you should choose the Asian side, unlike the other side which is noisy and vital.
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If you think the European portion is more luxurious than Asian one, you are wrong, as many Asian portion areas compete with the areas in the European portion.
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If you want a profitable and outstanding real estate investment, you must choose tourist areas or strategically located.
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The European side is an important tourist destination where it has many historical monuments, ruins and beautiful nature.
Mersat Real Estate Company, are pleased to be your real estate and investment consultant in Istanbul. If you want to purchase a property in this city, you just have to contact Mersat Real Estate to provide you with the best offers that suit you, based on your desire and budget to achieve your goal.
Edited by Mersat Real Estate Team ©
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