The reasons that made the forefront of Istanbul real estate

The reasons that made the forefront of Istanbul real estate

According to the official authorities, Istanbul real estate often occupies the forefront with the large number of sales it achieves, surpassing the various Turkish states, and this is not in vain, but rather a natural result of the many privileges that can be obtained, as it is the distinguished investment future, stable housing and the opportunity to obtain Turkish citizenship.

Reasons for distinguishing the real estate sector in Istanbul:

- With a strong economy and diversified industry including finance, services, trade, manufacturing and construction, Istanbul is an attractive market for investors and the city also offers favorable tax policies that make it an attractive investment destination.

- The Turkish government is committed to maintaining stability in the real estate market by applying regulations that ensure fair competition and protect the rights of buyers. This provides investors with a safe environment to conduct their business without unnecessary risks.

- Istanbul is strategically located between Europe and Asia and benefits from its proximity to both markets and this makes it an ideal location for companies looking to take advantage of international trade opportunities.

- Istanbul has developed an excellent infrastructure including fast transportation, modern highways and an efficient airport system and this makes it easy for companies to operate and for investors as well.

Istanbul has a lot to offer its residents including quality healthcare, education, and entertainment options. This makes it an ideal place to live and work, which greatly increases the value of real estate investments.

The most nationalities buying real estate in Istanbul:

Istanbul is a popular destination for international real estate buyers, as citizens of many different countries invest in the city's housing market. According to the Istanbul Chamber of Commerce, the most prominent nationalities that buy real estate in the city are Iraqis, Iranians, Saudis, Kuwaitis, Russians, and Europeans.

Iraqi nationals are particularly active in the real estate market, making up about 40 percent of all foreign buyers in the city. Iranians and Saudis are also major players in the market, accounting for about 20 percent of foreign buyers respectively. Russians and Europeans make up smaller percentages but still account for significant amounts of money. Investing in its real estate sector.

The most important areas of Istanbul to own a property:

Kadikoy is an up-and-coming area with a lot of new development projects, it has excellent public transportation links, making it easy to get around, and offers a variety of leisure activities to its residents. The area is also home to some of the most popular nightlife spots in Istanbul.

Besiktas is a popular choice for those who want easy access to famous Istanbul landmarks, such as the Dolmabahce Palace and the Bosphorus Bridge. The area also offers some of the best beaches in the city, making it ideal for those who want to stay close to the water.

Sisli is famous for its modern buildings and luxury apartments. It is a great choice if you are looking for an area with lots of amenities, as well as easy access to many parts of the city.

- The shores of the Bosphorus also offer a wide range of luxury apartments, and you will find some of the most amazing views in Istanbul, with the search for waterfront properties in particular. The Asian side of the city is home to many high-end neighborhoods that are ideal for those looking for high-quality apartments. These include Kadikoy, Uskudar.

Beyoglu is a well-known area of ​​Istanbul located on the European side of the city. This area offers a wide range of properties ranging from small studios to luxury apartments. It is famous for its vibrant nightlife with plenty of restaurants, bars, and cafes. There is also plenty of shopping opportunities, as well as easy access to Public transportation.

The Old City, or Sultanahmet, this historic district is home to famous attractions such as the Grand Bazaar, Topkapi Palace, and Hagia Sophia. It also has a variety of apartment options available, from traditional Ottoman-style apartments to modern luxury complexes.

Tips when buying a property in Istanbul:

First, consider the location and whether it is suitable for your needs. Do some research on the area and check out local amenities such as transport links, shops and restaurants. Also consider future plans for any potential developments in the area.

Second, make sure you have a thorough understanding of the legal procedures involved in buying real estate in Istanbul. It is important to speak to a qualified professional to ensure that all paperwork is completed correctly and that you are aware of any potential restrictions or additional costs associated with the purchase.

Thirdly, research the property thoroughly before committing to the purchase and have a professional inspect the property to make sure there are no problems or hidden repairs that need to be made. It is also important to consider any additional costs such as legal fees and taxes that may apply.

Is this the right time to buy a property in Istanbul?

The real estate market in Istanbul is one of the most active and dynamic in the world and with its large population, diverse culture and vibrant economy, the city is a great place to invest in real estate and the city has experienced strong growth over the past several years, making it an attractive destination for potential investors.

However, before investing, it is important to consider current market conditions and trends. While prices have been steadily increasing in Istanbul, the market has calmed down in recent months due to a combination of political and economic factors. This has led to lower demand for real estate, which could be an opportunity to buy at a lower price. 

The good news is that the Turkish economy is expected to pick up soon and the real estate market to follow suit. This could mean that now is a good time to buy and because prices are relatively low compared to previous years, however, it is important to research carefully before making any investment decision.

It's also wise to seek expert advice from experienced real estate agents or financial advisors who have knowledge of the local market and can provide valuable insights into whether or not this is the right time.