This is how Istanbul attracted foreign investment
Last Updated: 2023-07-27Foreign investments in Istanbul
Istanbul is considered the most important city in Turkey at all, the economic capital of the country, and a destination for investors around the world. In this article, we discuss the factors that attracted investors to Istanbul.
How did Istanbul attract foreign investments?
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First: For reasons found in Turkey and not related to humanity:
-Take over a massive economy:
The city of Istanbul shares with Turkey as a whole in its successful economy, as we know that Turkey has a rapidly developing and stable economy. The Turkish domestic product has more than tripled since 2002, and Turkey is ranked thirteenth among the largest economies in the world, and it is seeking to enter the club of the top ten. This completely reassures the investor that his economy will be unique and will be distinctly successful based on the country's economy, and he will be 100% sure that his property will never lose its material value due to an economic collapse, as the latter is so solid that it is difficult to be affected by any setback that may be exposed to and that was proven by the recent epidemic wave from which Turkey rose in good condition.
-Tourist nature it owns:
We must mention that Istanbul has a shining constellation of tourist sites and they are very diverse. Most of what tourists may prefer is the natural places. Turkey in general and Istanbul in particular possesses a variety of natural manifestations. It is possible to visit mountains, seas, lakes, forests and many other places that we are not going to talk about now. It also has another aspect of tourism, which is historical and archaeological tourism. Istanbul has many archaeological and historical tourist sites that can be visited and identified. What distinguishes this city in terms of tourism is that it contains modern and contemporary tourism, such as museums and restaurants. So, all those details and factors that we mentioned in terms of tourism contributed to attracting the investing eye to it, and they found in it an irreplaceable opportunity.
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Second: For reasons stemming from government support:
- Appropriate tax value:
One of the things that made real estate investors take Istanbul as their investment destination is that it has been very supported by the Turkish government. After the Turkish government found that most investors complain about the high real estate tax value, it tried hard to make it commensurate with their financial situation and the amount of profits they get. We must also mention that the Turkish government has eased the measures that lead to the desired investment.
- Istanbul has a great real estate diversity:
One of the important details that are found in Istanbul and contributed to the investment attraction to it is that it contains a large real estate diversity, which has provided the desires of many people, as it contains separate apartments and others within residential complexes. It also includes villas, farms and many other types that we will not be able to catch all of them here.
- Istanbul takes into account the different classes of society:
One of the striking things in Istanbul is that it takes into account the class difference. Not all people have the ability to buy luxury real estate with fantastic prices, and as a result of this equation, it has created high-end and luxurious neighborhoods suitable for money owners and businessmen. It also contains medium neighborhoods suitable for the vast majority of society, and at the same time it includes simple neighborhoods that tend to be popular, and this is also one of the reasons why investors chose it.
- Existence of a number of large projects:
The mega projects in Istanbul must have a major role in the real estate investment project and its success. One of the most important projects is the New Istanbul Water Canal, which is one of the huge projects that greatly affected the real estate areas surrounding the canal. The same applies to Istanbul's new airport, as it also affected the surrounding real estate, and it is likely that the real estate surrounding these projects will have high prices with the passage of days.
-The presence of a lot of shopping centers:
Istanbul is Turkey's most populous city with shopping centers, which is surprising that all of these centers are of a high level of quality and have a great global standing, and their presence made a big difference in public life in Istanbul, as it was characterized by vitality and activity, which is one of the reasons that attracted investors.
Edited by Mersat Real Estate ©
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