Introduction:

Istanbul is the only city that lies on two continents and is one of the world’s business hubs.  It is also the main Economic hub of Turkey. Istanbul is one of the most attractive destinations for real estate investors and property buyers. Thanks to its unique beauty, history, diversity, and culture, Istanbul is visited each year by millions of tourists, students, and businessmen. Buying property is one of the most important decisions a person can make in life as it is a major investment for individuals and it significantly affects their lives especially when they buy residential property for sale. You may be already familiar with Istanbul but here is a quick review of interesting facts about this beautiful city. Then we mention the 13 reasons to invest in Istanbul Turkey property

Interesting facts about Istanbul:

• It has been a site of human settlements for approximately 3000 years
• Istanbul is one of the most beautiful cities in the world
• It has a Mediterranean climate throughout the year
• Istanbul has a population of 15.5 million, 60% of them under 30-year age
• It accounts for at least 27% of the Gross Domestic Product (GDP) of whole Turkey
• Istanbul is one of the most beautiful cities in the world
• Istanbul has one of the most relatively affordable costs of living.

12 reasons to choose Istanbul when buying a property:

Affordable prices

Compared to European and Arab countries with high-quality real estate projects.

Profitable investment with high ROI

Especially when investing in the right property as most areas of Istanbul either have a high density of population and limited vacant land (for new projects) or emerging areas with a low density of population but with large developments and mega projects under construction. Therefore, Prices are increasing especially with the high demands from foreigners and locals for rent and buying property, So investors can profit from renting their apartments or resale with higher prices.

High standards and quality

Specifications are similar to European standards with Earthquake resistant building technology.

Obtaining a Turkish passport and citizenship

Foreign nationals can obtain Turkish citizenship in 3-6 months after buying a property or multiple properties with at least 400,000 US dollars. more information can be found here.

Obtaining residence permit

Foreigners who buy a residential or commercial apartment in Turkey can apply for a residence card for 2 years (renewable).

The facilitation provided by the Turkish government

The government of Turkey has endorsed amendments to the executive regulations related to Turkish citizenship law and real estate Tax exemptions which make it easier for foreigners to buy real estate and made the process of completing title deed seamless.

World Bank estimated an Economic growth of 5% in 2121 while International Monetary Fund (IMF) expected 6%.

Weak Turkish lira

In March 2020 Turkish lira lost 8% of its value as part of a 50% devaluation in the last 3 years. Therefore, foreign investors find it attractive to invest in Turkey at this time. Because prices will be cheaper in terms of USD value, at least theoretically.

By 2025, Istanbul will be the 14th city in the world in terms of GDP, according to some economic forecasts.

Istanbul is a center for historical and cultural attractions, business, finance, and entertainment opportunity.

Less Political tensions and more prosperity

The Turkish regime embraces policies of openness, minimizing disagreements with its neighbor and European countries. Along with the developments and increase in Turkey’s exports, all are positive signs that Istanbul is a safe investment zone…

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