I would like to invest in the real estate market in Turkey for my citizenship-by-investment application. What are some popular areas with growth potential?
Istanbul is the most preferred city for real estate investment in Turkey. Real estate statistics from official agencies show an increasing demand for apartments in Istanbul, especially from foreign renters and buyers. Istanbul is the hub of business, economy, finance and tourism in Turkey. Other popular cities for real estate investment are as follows in order of importance: Antalya, Bursa, Yalova, Aydin, Sakarya and Trabzon.
Big cities are the most demanded ones when it comes to real estate investment for Turkey, not only for local people but also for foreigners. Therefore, we advise our clients to carry out their investments in larger cities such as Istanbul, Ankara, Izmir, Bursa, Antalya, etc. As for the popular areas in common for all the cities above, touristic places and territories are advised for the investment application. These places are the ones which would always be popular and never lose the financial importance during the following years.
In addition to the investment, actually it depends on your needs. If you want to purchase it and come to Turkey for the summer holidays, it is advisable to look for summer cities like Antalya, Aydın and İzmir, etc. And also these cities are also better options for you If you dont like the crowd. On the other hand, if you want to purchase it and will come only for shopping, real estates from big cities like İstanbul and Ankara are good choices. If you only want to make investment instead of also living inside, it is advisable to purchase real estate away from the city centers of big cities. In my opinion, the most growth potential exists in these areas since big cities are spreading to larger areas with new projects every day.
Choosing the city that you wish to make your real estate investment is truly important in a country like Turkey that has diverse regional economic dynamics. Turkey is an emerging market where real estate prices in certain cities see an increase over the years and most properties have a high resale values, while investments in some cities do not come back with the same results. One should also consider whether or not they want to reside in the property that they purchased for investment purposes and the question becomes even more complex. According to recently published statistics, out of the 40,616 properties sold to foreigners in 2019, 18,207 of them were in Istanbul and Antalya came second with 7,994. If you compare the size of the two cities, it is apparent that Antalya is a major interest for foreign investors, and with 1/6 the population of Istanbul, it certainly has room for growth.
One of the popular areas in Turkey is definitely Istanbul due to its large population and future government projects such as Canal Istanbul.
İzmir, Antalya and Mugla (Bodrum) are cities that many people spend their summer. There are also many tourists. You may buy a villa from there and rent it too. Also, of course, İstanbul is a great choice since many people are going there to study and work.
In Turkey, the best places to purchase real estate are Istanbul, Izmir, Antalya and some counties of Muğla. In Istanbul, recently developing places are Esenyurt, Basaksehir, Beylikduzu, Kucukcekmece.
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