How did Istanbul attract real estate investors to it?
Last Updated: 2023-07-27
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How did Istanbul attract real estate investors to it?
When we mention the idea of real estate investment in Turkey, we immediately mention the city of Istanbul, as it is the favorite place for many people around the world, as it has many advantages; and one of the most important of them is the new investment sites that are currently being built which are very many and also for the many tourist sites that have a major role in this investment demand for its real estate , so we chose today to talk about the most prominent means and ways through which real estate investors were attracted to Istanbul.
What are the elements through which real estate investors were attracted to Istanbul?
1- Istanbul New Airport:
A project such as the new Istanbul airport with its size, dense advantages, and luxury services, it will not affect the field of real estate investments only, but also will have an impact on all areas in the country, however, real estate investment has had great favor from it, since its inception the demand for Turkish real estate has increased dramatically especially in the Turkish city of Istanbul, and in the areas adjacent to the airport in particular. Of course, since the demand for real estate has naturally increased, its price will increase as well, and the most affected areas are Basaksehir, in which the prices have increased by nearly eight percent, while the Buyukcekmece area, which witnessed an increase in the prices of its real estate, about nine percent of the original price of the property. This increase and the influence of the airport will not stop at these areas only, but will include all areas that lead to it, especially foreigners.
2- The New Istanbul Canal:
The new Istanbul Canal project must have had a clear impact on increasing the investment movement in Istanbul in general and around the canal area in particular, and the European section of Istanbul registered search requests for real estate in it, and these requests did not come from a desire from non-Turkish investors only, but by The Turkish citizens likewise, and the value of agricultural lands and real estate around the canal will witness a clear increase, which will increase the profits of projects. It is likely that the economy in that area will record a high jump, and it has recently started clearly.
3-Standards it owns:
First of all, we can say that its advanced infrastructure built according to international foundations is what encourages real estate investment and makes it a demand by everyone around the world, and its possession of the distinctive temperate climate for most governorates that makes investment in it attracts attention, and one of the most important natural reasons for the success of investment is its location between the continents of Asia and Europe, which gives it many advantages. Finally, stability in the economy is what makes projects on its land succeed because it does not decline and rise in a day, which makes the investor in a state of fear and anticipation.
4- Real estate diversity in its package:
Also, one of the reasons for the successes achieved in Turkey for real estate investment is due to the large number, multiplicity and diversity of real estate located on its land. This makes the investor face several options, almost all of which are good and appropriate and do not lack anything. He/she chooses what matches his/her taste and satisfies him/her in terms of quality and the money he/she has.
5- Governmental cooperation with the investor:
The first factor imposed by the Turkish government on investors in Turkey is that it has limited the area that the investor can own and is absolutely not allowed to exceed, which is only about thirty hectares.
The Turkish government has also abolished the law for reciprocity, as Turkey has no relationship with other countries, as its laws do not link to the laws of countries that have an opposing law of the sort, and the procedures for obtaining real estate have been simplified within laws that have no restrictions that make it incapacitating.
6- Ease of doing and executing transactions:
It is characterized by the ease of the necessary procedures for the affairs of your project to proceed safely and without disruption, as all the transaction papers are easy and end easily within a few days, for example, the inheritance inventory transaction is going as it goes in your country, you are not bound by the laws of others, and the real estate companies present on Turkish land help you to answer the questions that come to your mind and forms barriers that block your road. You can finish the real estate appraisal paper within a very short period. Turkey is distinguished from others through the plans it has put in place, which include continuous development in real estate and infrastructure in order to ascend the real estate projects to the top of the pyramid and stabilize it. .
7- It contains many tourist sites and shopping centers:
These two elements are among the most important incentives and desires that have made Istanbul attractive to real estate investors around the world, as many tourist sites want to be located near the property that they will buy, as it will raise the price of this property first, and on the other hand it will attract tourists to this region, in turn increasing the demand for the property they have bought. As for shopping centers, the demand for them is great and the need for them does not end, so Istanbul is distinguished in real estate in terms of investment, and it is desirable for the sake of what we mentioned.
At the conclusion of our conversation about the reasons that made investors attracted to invest in Istanbul, it becomes clear to us that this city is full of incentives that have made itself a center for investors' focus. In the comprehensive view that we gave, we can conclude that it is important and fruitful for the property that will be bought, as the step of real estate ownership in Istanbul is wonderful and very successful .
Editing by Mersat Real Estate Team©
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