Istanbul is the most populous city in Turkey and the fourth most populous city in Europe. It is a stunningly beautiful city, with ancient monuments and modern skyscrapers, all built on the banks of the Bosphorus Strait. Over the past few years, it has also become a popular destination for real estate investors looking to capitalize on its rapidly growing economy and attractive prices. So what are some of the benefits of investing in Istanbul real estate? Let’s dive into this question and explore some of the reasons why investing in real estate Istanbul can be a great choice.
Strong Economic Growth
Istanbul has long been regarded as one of the most important cities in Turkey and one of its economic powerhouses. This is due to its large population, strong infrastructure and diverse economic base which includes manufacturing, finance, IT services and tourism. The Turkish government has invested heavily in developing these industries over the past 10 years which has resulted in strong growth for Istanbul’s economy. As a result, real estate values have increased significantly over this period making it an attractive option for investors looking to get involved in the market.
High Rental Yields
Istanbul’s rental yields are strong compared to other European cities due to its competitive property prices and high demand for rental properties. In addition to residential properties, there is also a healthy commercial real estate market which offers investors even more options when it comes to potential returns from their investments. With rental yields often reaching double-digit figures in some areas of Istanbul, it is easy to see why so many investors have been drawn to this vibrant city over recent years.
The cost of buying property in Istanbul is much lower than many other major European cities such as London or Paris making it an appealing prospect for those looking for affordable entry into their first property investment market or simply wanting an affordable place to live or holiday home abroad without breaking their budget. In addition, there are now several government incentives available to foreign buyers which further reduce costs associated with purchasing property including tax breaks on capital gains made from sales and reduced rates on stamp duty payments when buying a home.
Investing in Istanbul real estate can be incredibly rewarding thanks to its strong economic growth, high rental yields, attractive prices and numerous government incentives that are available for foreign buyers. For those looking for an affordable yet potentially lucrative entry into their first property investment market then investing in Istanbul could be just what they need! With its stunning scenery, vibrant culture and booming economy there really is no better time than now to invest in this incredible city!