Uniting two continents, Istanbul has always drawn the attention of investors and outside traders but we are talking now of a property boom as investors a racing to capitalize luxury real estates in Istanbul.
This year, real estate prices escalated up to 20% compared to the same period in 2014, and the market shows no sign of slowing, bringing Turkey to the top just behind Hong Kong.
Investors are turning to new developments and luxury properties outside the city center as the return on investment is getting higher with 50% of increased value on off plan constructions in two years after completion while the rents are continuing to climb.
As the European countries are now wading and the Middle Eastern countries remains risky, investors consider Turkey as a safe place, especially istanbul leading the pack as the European financial center.
Holding almost 15 million people, Istanbul is a gigantic city. From luxurious to crumbling neighborhoods it’s sometimes difficult to know where to start, but we can look for the areas that are already attracting investors in order to predict which areas will be our best options for investment.
Once a neglected working class center, Bomonti in Şişli’s old quarter began to shape up a decade ago with a growing demand for centrally located accommodations. When Hilton arrived building the largest hotel in the area its fate was sealed. During the last 5 years, Bomonti’s property prices have been some of the fastest ascending in the city. Although the prices are high, the proximity of Bomonti with Nişantaşı street, which is the most expensive, indicates that the prices are likely to double in just more 5 years.
Full of cultural and historical attractions, Beyoglu is the most popular district and the heart of istanbul. With many established properties this area generally requires high property premiums, but you may find districts undergoing regeneration such as Gumussuyu and Tarlabasi with lower prices. Property prices are high and demand a large capital but Beyoglu is one of the top areas for big return on investment.
Of course, in a city as big as Istanbul it’s hard to escape a few areas that are not as great, but the government’s planning projects are quickly transforming the unsafe urban areas for the better. New developments offered for the best prices in areas where regeneration has taken place is attracting more and more investors as they are presenting a great opportunity for real estate investment in Istanbul with promising returns in few years.
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If we think of the most attention seeking properties in Istanbul, then those are the water front properties which are rich, famous and influential properties. No matter what people might say, these properties in Istanbul are a focal point for up market social circles. The prices of these properties are not disclosed until the buyer shows interest. Also, the cash should follow through.
It is rightly said that due to the strategic position of the city, Bosphorus is most of the world’s most important waterways with high end properties. It is like the heart of Istanbul. As history tell us, during the era of Ottoman rule, the sultans had built beautiful palaces and summer houses on the waterfront of this city. Any person who had links with the sultans or were influential could buy property here. Owing a property here is a status symbol in itself. The properties are reserved only for the elite class.
It is also believed that the wooden and well crafted houses which have been preserved from ages back are not only a historical feature but also a statement of wealth and influence. The elaborate architecture with luxurious furnishings antiques and transportation is something to be boastful about. Luxury real estate and Istanbul go hand in hand.
An increase in demand for one bedroom luxury properties near business districts due to Istanbul’s growth as a key player in international market is keeping the architects on their toes. The need and requirements of the buyers is that they want a clean but inviting environment which is good enough to relax and at the same time they get all the basic amenities like malls, parks, gyms, garner, cleanliness, spas, car parking etc.
One great example of luxury real estate is Levent district, where new and resale apartments in tall buildings are in great demand. It is one of Istanbul’s main business districts and has Turkey’s tallest skyscrapers. These kinds of houses are preferred by young professionals because they are always looking for living in places which are away from modern day stress life.
One more luxurious real estate property in Istanbul is Nisantasi. It is portrayed as an upcoming market area consisting of artistic and creativity people. An exclusive shopping district with luxury brands is Rumeli Caddesi. Nisantasi is an innovative district of Istanbul. Top notch services like limousine bookings, cleaning, home maintenance, cafe, pool, restaurant, sauna and spa are all provided.
Istanbul is a land of luxuries. When it comes to real estate, you can aim to get beauty, comfort and luxury all in one basket. If you are willing to loosen your pockets on real estate then you know where to put your money to. Also, if you are a luxury preferred person, then Turkey is your destination. It is win-win situation for the investors who which to invest for business or residential purposes. Istanbul is a hub for luxurious properties and the architecture is such that it can attract anybody and everybody. All you need is to have a vision and taste for such classy and elegant beauty. If you start living in a place like Istanbul you will find yourself not liking any other place as much as you would have developed fondness for Istanbul.
Istanbul is a hub for people looking out for real estate sale or purchase. It is the very soul of turkey. The rich architecture is inspired by the old sultans and carves its way back to the history.
Istanbul has many real estate properties for sale which includes
For buying luxury property in Istanbul you need to have rich and elegant taste. While considering a real estate purchase in a beautiful city like Istanbul you need to make up your mind as to where you wish to purchase and what is your budget. Other areas of thought can be it the investment going to be for capital appreciation or for rental purpose? Or maybe is it a lifestyle change or a holiday home for you and your family?
In Istanbul lifestyle comes with a price tag, quite often with a six figure tags. It is like any other major city in the world with city centers and sea view properties. The investors, who have keen eyes on Istanbul real estate for sale, tend to buy planned properties at launch prices where the rates of the properties increase by 50 percent giving you a guaranteed capital appreciation in a very short span of time.
It is advisable that people who low budget can look for real estate properties in the new fashionable inner city areas whereas people with big pocket size can think of buying a property in the heart of the city.
The two main types of properties in Istanbul consists of-
Most of the investors however wish to buy a mix of both. Here you can find a modern 2 bedroom duplex apartment, luxury off plan apartments, investment free payment property etc. All the properties offer ease and comfort to you when you start living there. A mere glimpse pf the property can tell you the exact feeling of the place.
Everybody knows that the Turkish territory is a cradle for various civilizations. Every year millions of tourists and people are welcomed by this land to find property for sale here. Thousands of people have chosen to live and invest here. This place has to offer all kinds of residential complex to meet the real estate needs of the people. Being a foreigner and still owing a property in Istanbul or any other part of turkey is quite a normal scenario. Thanks to its flexible FDI norms.
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Lastly it can be stated that because of the synthesis of east and west which this country has to offer, it attracts many investors from across the globe. It has become the most preferred place for the investors in terms of real estate properties. It is advised to determine your budget firstly when you decide to buy property in Turkey because it has a lot of real estate options to be sold which might confuse you and also might affect your pocket adversely if the decision is not taken wisely.
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