Where to buy property in Istanbul? Istanbul is the only city in the world that is situated on two continents. It is undeniably one of the most preferred places throughout the globe for international property investment. With rich history and cultural balance, Istanbul is turning to be the second London for the Arab world.
Whether you want to buy or rent property, Istanbul presents several options. Real estate investment is undoubtedly an optimal way to spend money. However, the budgetary restrictions, special preferences and the need for mobility in a city are some of the key reasons that may affect your decision regarding buying/renting property in Istanbul. The real estate property investors in Istanbul can benefit from relatively cheap prices along with a developing economy.
So, what’s driving the continuing admiration in Istanbul’s property values? Well, some of the major factors that are leading to appreciation in property values include inflation and GDP growth rate. Istanbul’s economy is growing strong and diversified between Europe and Asia. It has become much easier for foreign investors to invest in Istanbul, especially in real estate. After the 2012 legislation that eliminated the obstacles on foreigners who want to buy real estate in Turkey, a large number of investors, especially Middle Eastern, Russian and Asian investors are getting attracted to make a property investment. Previous to the 2012 law, around 2 to 4 percent of real estate buyers were foreigners. The ratio has now increased to around 5 to 10 percent on average and in some projects it has reached 20 to 30 percent.
Istanbul is a metropolis, backed by a sturdy economy. This beautiful city is also considered as an ideal destination for property investment due to its proximity to Europe and Asia. The majority of population in Istanbul is under the age of 30, which is further invigorating the Istanbul real estate market.
It is amongst the top 10 European cities for investment purpose. The period for residence permits, earlier which was only for 3 months has also increased to a year. This is become an advantage for those who want to sell the property that they own in Turkey. The government has permitted the foreign investors to purchase property and land up to 10 percent in official area zones, except inside the military and security zones unless given clearance. The apartment prices in Istanbul are very much affordable as compared to the U.S., starting from as little as 60,000USD.
Istanbul’s economy is booming day by day and a large number of people are finding this stunning city a perfect destination for vacationing, working opportunities and real estate investing. If you are planning to invest in real estate sector, it is the right time to make your move. One can also visit: https://www.spotblue.com/turkey-real-estate/istanbul-property-for-sale/, to find the best properties for sale (including villas, apartments and commercial properties) in Istanbul.