Best rated real estate luxury apartments investment agency Istanbul: Istanbul is the largest city in Turkey, well-known as an economic, cultural, and historical focus of the country. Situated on the Bosphorus Strait, it spans both Europe and Asia, with a population exceeding 15 million people, constituting 19% of Turkey’s population. Istanbul is the most dense European city, with its history back to the seventh millennium BCE (before the Bosphorus existed), as revealed by digging during the construction of the Eurasia Tunnel connecting its Asian and European sides. Throughout its long history, Istanbul has been characterised by indulgence across the ages, visible in the lasting leftovers that tourists visit to this day. Find extra information on https://righthome.com.tr/en/blogs/1719579091374/luxury-apartments-for-sale-in-istanbul-2024-with-photos.
We discussed the reasons for the rise in real estate prices in Istanbul previously, and then we clarified the real reasons for the rise in prices, such as the high cost of construction materials, an increase in shipping costs, supply chain problems, and also the continued decline of the Turkish lira against the dollar. But apart from these real reasons, there are additional reasons that led to an exaggerated increase in prices in some projects in certain areas of Istanbul, in the hope of real estate developers to obtain additional profits, but with the passage of time and weak demand, especially for this type of real estate, the prices of which we see today are returning to normal prices. As before . Important notes before talking about these projects: The increase in the minimum amount for obtaining Turkish citizenship from $250,000 to $400,000 led some real estate developers to think that this is an appropriate opportunity to sell the property whose value was $350,000, at a price of $400.000 or $420,000 to become suitable for Turkish citizenship.
The Istanbul real estate market is undoubtedly Turkey’s star performer when it comes to attracting investors from all corners of the globe. Historically, it has always been the number one destination in the country for domestic property sales, and in 2015, it overtook the Mediterranean region of Antalya as the most popular destination for foreign property buyers in Turkey. Last year, it hit a record high with 8,182 properties sold to foreigners of various nationalities and 238,383 domestic sales. But what exactly is luring domestic and foreign buyers to invest in Istanbul real estate and more importantly, will this trend last? We think so.
Right Home is a leading company specializing in real estate consultancy and brokerage. We help buyers to buy and sellers to sell. We provide luxury apartments, smart homes, elegantly designed offices, modern constructions and all consultancy services. Our head office located in Istanbul, Turkey. We take great pride in being more than just another real estate agency. We aim to develop long-lasting relationships with our clients by offering exceptional services and meeting customer’s utmost satisfaction. The summers in Istanbul are scorching, and the winters here can be snowy. Therefore, the best time to go to Istanbul is during the spring (April – May), during which the sky is clear, and the weather is beautiful. The fall season will also give you a pleasant temperature, so another best time to visit Istanbul is from September to mid-November. Many people come to Istanbul for their summer vacation. The weather during this season is quite lovely, though it can be warm sometimes. And, during the summer, the city is packed with lots of tourists, so it will be more difficult to enjoy all those Istanbul tourist attractions. The rates of hotels in Istanbul are also rocketing during the summer.
Clearly state your requirements to the sales representative when you meet with them. If you have a fixed budget that cannot be exceeded, it is best to mention it to avoid getting a property tour that does not match your requirements, wasting your valuable time and energy in Istanbul. For example, a client who requests the best investment properties without specifying a budget will have the sales representative search in central Istanbul to find a suitable property. If the client’s budget is not suitable for properties in the center, they will find that property prices are high, and they may withdraw from the idea of investing at a time when suitable investment properties are available in other areas. The sales representative could have visited these areas with the client if they had disclosed their approximate budget.
One of the most popular rumors in the Arab market is that Turkish real estate is expensive, and many people interested in real estate investment think that the cost of entering the market is very high and this is not true, the most important is the awareness and understanding of the market well. You can start investing in the Turkish real estate market for up to $ 50,000 by investing in housing projects or university dorms as an example, which provides a good return on investment. Many of the major real estate investors fail to invest due to lack of market awareness and understanding of the future trends of the Turkish real estate market and because of the focus only on the quantity invested and not the type of investment.
If your investment goal is in Istanbul, especially if you want to obtain Turkish citizenship (this means you cannot resell your properties for 3 years), here stands the main thing for Right Home’s vision, which is being a real estate investment company in Istanbul, as our role is not limited only to indicating the appropriate projects, but we have a consulting team specialized in studying the market, studying real estate projects and the history of construction companies, in addition to studying the laws of supply and demand in the present, in the past and in the future. Make sure that all of the above is very important when choosing your investment properties because from our daily experiences we notice completely wrong investment choices that some clients make by misleading them by companies starting out in the real estate market or non-consulting real estate brokerage companies, and this is often done by tempting the customer for obtaining cheap real estate or being deluded by the fact that a certain area is an investment area without relying on real criteria in evaluating the investment.
Istanbul, Turkey travel is one of the top reasons to invest in Turkey. With the majority of tourist attractions located on the European side, most first-time travelers to Istanbul don’t venture into the Asian side of the city. Had it not been for Ciya Sofrasi and Walter’s Coffee Roastery, then we wouldn’t have gone there either. Home to a maze of cafes, bars, restaurants, and some trendy neighborhoods, the Asian side has much to offer and is well worth a day if you can spare it. We traveled around Turkey for two weeks so we went to these places on our own, but if you don’t have as much time, then you can visit them on day trips from Istanbul as well. Domestic flights are inexpensive and efficient in Turkey, making these day trips to other regions highly possible.
Smaller apartments tend to have quicker investment cycles compared to larger ones, whether for rental purposes or resale. Small apartments with areas around 65 square meters are in high demand, particularly in central Istanbul, as they cater to employees with small families who want to be close to their workplaces without paying exorbitant rents for larger apartments. Larger apartments with lower price per square meter, even within the same project as smaller ones, may have lower demand in central Istanbul. If you choose a non-central location, larger apartments can still be attractive to renters looking for spacious accommodations.
Finally, as for the lands near the new Istanbul Canal, it is a very risky investment project that is not recommended for someone who owns a property for the first time in Turkey and wants to obtain Turkish citizenship. For more information about Istanbul Canal, read: Canal Istanbul project and its impact on real estate investment. So, what is the solution to get a successful real estate investment while obtaining Turkish citizenship? The amount of real estate investment to obtain Turkish citizenship was reduced to $ 250.000, according to what was issued in the Official Gazette on September 19, 2018, after it was previously worth one million dollars.
The measures introduced under the Kartal Real Estate Transformation Project encompass various facets of infrastructure development. These include the enhancement of road networks, public transportation systems, and the provision of contemporary water, sanitation, and electricity facilities. These improvements are intended to elevate the quality of life and deliver convenient and integrated services to the local population and visitors alike. Furthermore, the project encompasses the establishment of commercial centers, entertainment zones, and shopping districts. These facilities are designed to invigorate economic activity, generate employment opportunities within the area, and enrich the shopping and entertainment experiences for residents and visitors alike.