Turkey is an emerging country with the world’s 17th largest economy, and it has become a favored destination for investors looking to diversify their holdings. The World Bank estimates that gross capital formation in Turkey will grow by more than 10% annually until 2030. In other words, Turkey is a suitable option for adding to your portfolio.

In addition, Turkey is one of the fastest-growing countries, and the property market has grown exponentially in the last few years. Nevertheless, some people don’t have enough reasons to buy property in Turkey. In this article, we’ll search why to invest in a property in Istanbul.

Choosing Turkey Property

There is a lot of property for sale in Istanbul, and investment advisors will help you find the most lucrative property to invest in. Some investors have bought high-rise buildings, some have bought strata apartments, and others have bought land plots. They all agree that there is an excellent opportunity to make a profit while real estate is booming in Turkey. Below you can find the most popular reasons why invest in a property in Istanbul.

Capital Protection In Turkey

Turkey is a top location for asset protection with its legal system, stable government, low crime rate, and good social services. In addition, it has one of the lowest corporate tax rates globally (5%) and a strong economic growth outlook. Safety is a key component because, in many countries, there are unfriendly government policies that can disrupt your business or financial situation. The bottom line is that you have to be safe and secure all the time, so you don’t end up in trouble later on.

Liquidity Potential

The property market in Turkey is growing rapidly, and investors who can get their hands on the right property will benefit because they can earn a huge return. Therefore, you have to have the right and most suitable real estate, which is not easy to buy with your own money. In this case, you will need to hire a real estate agent and connect with an investment advisor. This way, you’ll be able to find the right investment opportunity at the best price for your needs.

Variety Of Choosing

There are many opportunities to make a profit in Istanbul, so beginners and experts all agree that the real estate market has good potential. In the last couple of years, many people have observed how the real estate trend is increasing in Turkey and other countries of the world. The properties that you can buy are both high-rise buildings and new apartments.

Cheaper Alternatives

There are many cheap alternatives when it comes to investing in Istanbul property. You can find land for construction or property for renovation. This way, you will have a chance to make a profit if the deal gets approved and you sell your property at an increased price. You need to carefully choose which one is the most profitable option for you.

Best Areas To Invest

Many areas in Istanbul can be considered the best investment. The future holds a high possibility of redevelopment in many parts, such as Taksim, Istiklal Caddesi, and Galata. In addition, there are many investment opportunities around the financial centers, such as the Karakoy and Kocasinan areas. There are many more chances to make a profit when investing in real estate, so you’ll find them easily on the Istanbul property market.

Urban Renewal And Branded Lifestyle Projects

There are many branded lifestyle projects in Turkey, and investors can consider them a good option for their real estate portfolio. In addition, they are safe because the government controls them, and no one can be able to do anything against these large-scale development projects. The bottom line is that Turkey is a hot place to invest in real estate because it is booming more than ever.

Global Tourism And Business Hubs

Istanbul is one of the biggest tourism hubs on the planet. It has a very good brand image, and visiting Istanbul is a joy for many people. The success of the tourism industry in Turkey is one of the strongest indicators that Turkey’s economy can grow and become another profitable model for foreign investors. Moreover, this will add value to property prices and make purchasing more attractive, which will help you in making a profit from investing your money. 

Easy Buying Process

You can buy a house or apartment in Istanbul with a very easy process without any time limit. A property developer will submit construction plans to local authorities to get the permits on their behalf. Once the project has been approved, the construction will start, and you may be able to purchase the property after 3-5 years because the development could be lengthy at times. However, it is much better than investing in the stock market and waiting for years before making any profit, as it’s often done.

The Bottom Line

There are lots of reasons to invest in real estate in Istanbul. This city is one of the most exciting and most attractive for investors to buy property or land as a long-term investment. You can also find numerous ready-to-occupy property units from which you can make a profit within no time.