Istanbul is fast becoming the hottest investment destination in Turkey. Real estate activities in Istanbul have been growing steadily year on year. According to estimates, Istanbul is home to almost sixteen million occupants. Istanbul’s real estate market offers a wide range of facilities to suit the interests of every kind of individual. One can find luxury villas, serviced apartments, flats, expensive villas, traditional houses and even some environmentally friendly homes to choose from.
In Istanbul, there is no dearth of options. From luxurious gated communities to ultra modern villas and condominiums, the scope for real estate properties in Istanbul is simply unlimited. As a matter of fact, you will hardly find any part of Istanbul that does not have a property available for sale. Istanbul’s real estate market is gaining momentum as the city is being developed. Developers are coming up with innovative developments to make the available real estate property more lucrative.
Homes are getting expensive day by day as prices keep rising. In addition to this, real estate developers offer incentives such as free plots, free utilities and discounted electricity. In order to attract buyers, developers often hold massive house selling events in order to sell off large portions of their properties in an affordable price.
The housing boom has created an unprecedented boom in the construction sector in Istanbul. Over the past decade, Istanbul has seen an unprecedented expansion in its housing stock. Istanbul has become home to a great many new projects including luxury villas and condominiums. Istanbul has also launched a number of housing schemes which focus on providing low cost housing to middle and lower income earners. So the opportunities for investors in housing estate in Istanbul have never been so good.
Istanbul is well connected to all major cities across the world via highways such as the intercontinental expressway (ICF). Thus, living in Istanbul is not only easy but safe too. The major province in Istanbul such as Kadikoy, Moda and Nisantasi have a great population which means there is always a large gathering of tourists. In fact, every year, thousands of people from western and northern Europe visit Istanbul on vacation. Thus, the real estate market in Istanbul has always been vibrant and thriving.
In addition, the housing boom in Istanbul has also seen the introduction of a new method of buying and selling apartments and villas. The system of ‘house to flat shopping’ or buying a villa in segments is gaining popularity in the city. This method has helped many residents of Istanbul buy a number of apartments and villas in one go.
There is also a trend of condominiums being built in Istanbul. These buildings are generally rented to occupants who pay an annual rental. Many of these condominiums are constructed on prime locations in the city. Hence, they offer attractive real estate options. Moreover, the buyers have a choice between buying an apartment or villa or a condominium.
However, one should keep in mind that the real estate prices in Istanbul are still very high due to the high demand for the product. The situation will, however, normalize as the rates start to come down. The only thing is that you cannot expect a housing bubble in Istanbul. It is a long-term process. Therefore, it is important to invest in real estate and reap the benefits for yourself.
There are a few things that people can do to get good housing at an affordable rate. First of all, find out what kind of property you want to invest in. Do you want to purchase apartments or villas? In fact, there are some developments which are exclusively meant for rent. Such properties may not be sold at the market rate initially but will be sold off at a higher price later.
There are some neighborhoods in Istanbul, which are well suited to build houses for rental. If you want to own a house and still stay in the city, you can opt for such a neighborhood. They are relatively cheaper than the properties that are being sold on the open market. You can choose from a number of different villas, apartments and townhouses. If you are willing to pay a little extra, you can even opt for the luxurious models.
Finally, if you really want to earn profits from housing, you should opt for real estate investment. The market is quite promising and investing in real estate can bring in good profits for you. If you are new to this field, you should consider hiring the services of a property manager who will help you find a suitable location for housing and will also help you look for a good and profitable deal. This will allow you to gain a lot of experience and eventually earn more.
