Istanbul is the largest city in Turkey and one of the most popular tourist destinations in Europe. The population is over 10 million people, making it more populous than London or Beijing! It has a rich history dating back to the Roman Empire, with numerous monuments from that era still standing today.
But what does this have to do with investing? Well, Istanbul is a rapidly-growing city which means there are many opportunities for those looking to buy property – especially if you’re looking for an investment. That’s because prices here are much lower than they are in other European cities like Paris and Rome.
The recent construction boom has left the city of Istanbul with so many new opportunities for property investment. The enormous potential offered up by the third airport and luxurious properties, as well as a variety in neighbourhoods from Asian to European will make any investor drool! But where should you start looking at what’s on offer?
In this article Alistair Lockhart of The Turkish Property Agents will provide his suggestions: according to price, investments options or location specifics like neighbourhood information.
Why invest in Istanbul?
The country has been experiencing rapid economic growth for years now – and Istanbul is no exception! This means that rental prices are also on the rise, making investing here an excellent opportunity if you’re keen to build your retirement fund.
There are plenty of lucrative deals available to those who buy now – meaning your money will go much further than it would elsewhere! There are also plenty of incentives available for investors including guaranteed returns, buyback assurances and staged payments.
Prices start at just $40k for a decent one bedroom apartment in a good area, while penthouse apartments in the city’s most desirable neighborhoods start at $500k.
What are the up-and-coming areas in Istanbul?
Istanbul has been growing for a number of years and there are several up-and-coming areas. These include Arnavutkoy, Yesilkoy and Kucukcekmece. All offer a great lifestyle for those who want to invest in property with the potential for high returns on investment!
The most popular areas are mostly located near central locations such Levent which offers everything one would require within walking distance; Ortaköy is perfect if your budget isn’t too high but still want prime real estate.
Arnavutkoy is one of the most up-and-coming areas in Istanbul, with a wide range of properties from studio apartments to luxury penthouses for rent or sale. Prices start at around $40K for decent one-bedroom apartment in good area.
Some areas are suited for young families, others are better suited for professionals.
Why should I buy in Istanbul now?
Investing now is always a good idea as not only will you be getting into Istanbul at its lowest point, but also the Turkish Lira is relatively low in comparison to other currencies. This means that those looking for an overseas property investment in Istanbul have a great opportunity now!
The Turkish Property Agents offer a full range of advice to buyers, and we work with a network of bilingual, independent agents in Turkey. We also provide clients with regular updates about new properties for sale as they become available – so there’s never any need to worry that we might forget about you!
The Turkish Property Agents
71-75 Shelton Street, Covent Garden, London, WC2H 9JU