WC-ULI’s emerging Trends in Property Europe of 2013 report shows that Istanbul was ranked 1. for the previous 2 years and rated on top again in 2013 for “development prospects.
WC-ULI’s emerging Trends in Property Europe of 2013 report shows that Istanbul was ranked 1. for the previous 2 years and rated on top again in 2013 for “development prospects. The Istanbul real estate market is precisely Turkey’s star performer when it comes to attracting investors from all corners of theworld. Historically, it has always been the number 1 destination in the country for domestic property sales, and in 2015, it overtook the Mediterranean region of Antalya as the most popular destination for foreign real estate buyers in Turkey.
Some Benefits of Istanbul Real Estate Market
One of the world's youngest and best thrilling cities. Current population is about 15 million, increasing 250.000 a year. Number 1 city in Europe for capital increase. Anticipated 500,000 new buyers annually for both commercial and residential property. More than 60% of its population is under the age of 30. And high rental income with returns above 6-10%, long term local tenants. Istanbul’s strategic position leads a lot of global companies to establish their regional headquarters in the city to manage markets in the surrounding region.
Global Business and Tourism Hubs
Istanbul's tourism trade goes from strength to strength as mass marketing by the Turkish government is increasing it to 1 of the top visited destinations in the country. It beat the likes of other major cities like Rome regarding visitor numbers in 2014. The following 2 years took a dip but rebounded in 2017 and 2018 looks to be its best successful year yet.
Additional, even though it is the number one centre in Turkey for economy, business and finance, the Turkish government is turning into a global powerhouse with branded campaigns like Invest in Turkey. Finally, is Turkey’s plan for the Istanbul International Financial Centre, a mega project which will be the country’s equivalent of Wall Street.
New Face of City: Branded Lifestyle Projects
One powerful reason of investing in Istanbul real estate is taking off is the mass of new branded home projects, particularly forming on the outskirts of the main city centre. Brand new modern houses with modern architecture are being mixed with a range of social and community facilities to redefine the concept of neighbourhoods in is Turkey’s biggest and best populated city.
Growing neighbourhoods like Beylikduzu and Kucukcekmece offer all the advantages of city life with easy access to nightlife, shopping and transport links.
While the coasts of the Bosphorus and areas like Sisli still remain the elite of Istanbul real estate markets, neighbourhoods like Buyukcekmece and Esenyurt with these new branded lifestyle projects are enabling the expanding middle class to become property investors for less than £100,000 for properties in Istanbul.
Last Updated: 8.4.2019 18:04:30