Villas for sale in Istanbul offer some of the best investments to be found in Istanbul property. One of the best locations for investment is a waterfront location offering Bosporus views – often such Istanbul villas come with private mooring so ideal if you are a boat owner.
For families looking for villas for sale in Istanbul, property in the commuter belts is a good location to consider – with many such areas boasting prestigious country clubs in peaceful surroundings away from the hustle and bustle of the city. Typically, these Istanbul villas have 3 to 4 beds for sale set within a landscaped complex featuring a full range of health club and spa facilities plus gated 24/7 security.
Istanbul also has a number of Blue Flag beaches which can make your Istanbul villa an attractive investment option if it is situated close by – for instance Küçüksu beach offers some wonderful blue water vistas.
If sea views are important then search for villas for sale in Istanbul above the Golden Horn – not only will such a location command wonderful sea panoramas but the air will be cooler in the hot summer months – a unique lifestyle factor should you wish to sell your Istanbul villa in the future.
Off-plan villas for sale in Istanbul offer the best opportunity to make an almost instant profit if purchased early on – though savvy investors are snapping up villas for sale in Istanbul quicker than the brochures can be printed! Beware though, of investing in traditional villas for sale in Istanbul as their wooden structure is protected heritage and such places are often in dire need of renovation – though getting the relevant planning permissions can prove an impossible task.
Whilst in the past there have been more Istanbul apartment options that Istanbul villa choices that is now changing as the city continues to expand and green areas are converted into luxury residential complexes. Finding your perfect Istanbul villa for sale is now much easier.
According to a recent HSBC Global research report Turkey will become the 12th largest economy in the world by 2050 – up from its current position of 18th – with a predicted GDP of USD 2t. Some of the country’s established features certainly support this prediction, none more so than Istanbul’s vast, young work force and strategic location making it the world’s trader – so the potential for real estate property in Istanbul is sky high.
When you factor in 11 years of political stability, fiscal discipline, a well regulated banking and financial system and a labour force that is highly educated but far less costly than those in mature markets – then you have a complete set of critical factors to make acquiring real estate property in Istanbul a successful venture.
These same factors also helped Turkey come through the global financial crisis in a much better condition than most Eurozone members, and is another reason investors feel confident about real estate property in Istanbul.
Real estate property in Istanbul is also boosted by the attractiveness of the Turkish banking sector – with its low penetration levels; favourable demographics plus growing trade dynamics with the EU and the rest of world and its strong regulatory environment. An increasingly affluent middle class is also growing stimulating the demand for real estate in Istanbul.
Currently, there are a range of options for real estate property in Istanbul from 1/2/3/4 bed flats to luxury Istanbul off-plan apartments with sea views close to high-tec shopping centres and transportation links.
It is also possible to purchase land to develop real estate property in Istanbul, though the best cost competitive lots are in the suburbs in areas that are constantly expanding as the work force increases.
Istanbul, Turkey’s largest city, is also the country’s economic, cultural and historical heart with must see museums, mosques, churches and synagogues, palaces and pavilions, castles, statues and monuments.
Real estate in Istanbul is a superb investment opportunity as the government of Turkey frantically try to keep pace with demand for new housing – over 250,000 new units are due for completion in 2014 alone.
Another reason for the popularity of real estate in Istanbul is the city’s reputation as something of a cultural hub – with famous events such as the International Istanbul Film Festival and the Istanbul International Jazz Festival. But perhaps the most prominent of festivals is the Istanbul Biennial, held every two years, which not only showcases Turkish visual art, it is also open to international artists.
Istanbul has some of the best leisure and entertainment available anywhere in the world with numerous shopping centres from the historic to the modern – and a substantiating factor when considering investing in real estate in Istanbul. Take, for instance, the Istinye Park shopping centre which has over 85,000 sqm of retail area, 291 brand stores plus four levels of underground parking. Istinye Park also has a residential complex though most of these apartments were snapped up when they were still only in the off-plan phase. Real estate in Istanbul close to modern shopping malls is a sound investment and there are many such ventures being planned for 2015 and 2016.
The infrastructure of Istanbul is undergoing heavy investment with the two sides of the city’s metro soon to be connected by the Marmaray Tunnel – with rail use then expected to increase from 4% to 28%. A network of trams, funiculars, metro lines, bus rapid transit and ferries form a modern transport system that plays an integral part in the new real estate in Istanbul housing projects, as developers seek to align their projects within close proximity of this far reaching network.
Real estate in Istanbul is offering ever greater opportunities for investors, especially as Turkey is now enjoying a period of stable economic growth with its economy set to grow around 5% each year in the medium term.
Istanbul’s unique features include its strategic location at the crossroads of Europe, Asia and the Middle East plus the enormous domestic market – it is these strengths are attracting investors to real estate in Istanbul.
As Turkey starts to do more business with world markets like Africa, the Middle East and Asia, the shift in capital flow will accelerate economic and migration growth in Turkey and lead to more demand for real estate in Istanbul.
With Turkey’s new investment scheme and continued reform programs, investor’s confidence in real estate in Istanbul is at an all time high as the country becomes a more attractive proposition for FDI.
Indeed, Turkey is considered as one of the most attractive investment destinations for foreign investors – Turkey exported more goods in 2012 than ever before despite the global recession: total exports exceeded USD 152 billion to 241 countries. A critical factor in this success were the well-trained and educated workforce, a large number of whom reside in Istanbul. This in turn has led to demand for real estate in Istanbul outstripping supply with the government looking to build a further 250,000 new units in 2014 alone.
The location of Istanbul also offers another layer of opportunity with around 50 countries within a four-hour flight time from this dynamic city – a fact that has attracted international investment into 140 of Turkey’s top 500 companies. The government is encouraging banks and developers to invest heavily in real estate in Istanbul in an attempt to satisfy the huge demand for new housing.
As a result, many suburbs are now benefiting from increased development with excellent opportunities available for acquiring real estate in Istanbul.
Many experts believe that Turkey’s new investment scheme, which offers superb incentives to local and international investors alike, will help establish property in Istanbul as one of the best real estate purchases in the world.
Istanbul is the city most favoured by investors and attracted more than half of the total FDI projects that came to Turkey between 2007 and 2012. As consequence, demand for property in Istanbul is high, as a vast labour force with new arrivals daily, stimulate demand for housing.
Aside from energy, hospitality, construction and heavy industries, foreign investors expect real estate to be a major factor that will drive economic growth in Turkey and specifically Istanbul, in the coming years. Property in Istanbul is required for all segments from housing for workers, student accommodation and second homes to luxury lifestyle options for Turkey’s growing middle class.
It was Turkey’s banking crisis of 2000-1 that was the hinge of destiny in the country’s growth story as a strong mid-term economic plan was created to along with structural reforms. Ten years later, Turkey succeeded with an 8.5% GDP growth rate and ever increasing productivity. The knock-on was that Istanbul started to become not just a tourist destination but a business hub linking Europe, Asia, Africa and the Middle East. This led to property in Istanbul becoming highly sought after.
This macroeconomic stability has ensured that Turkey has come through the global recession buoyant with high investor confidence. The country’s strong economic fundamentals mean that Istanbul is likely to be a recipient of FDI for some time to come – so property in Istanbul will need to be in good supply.
If Turkey continues at this pace as a powerful emerging market with economic growth and stability, then many will feel that the success story has only just begun – so there is still time to get on the property in Istanbul ladder.
According to a recent report (TurkStat, 2014) over 1 million houses were sold throughout Turkey in 2013 with Istanbul accounting for over 20% of all sales. Mortgages are also on the rise with over 60% of all purchases made with assistance from the bank with Istanbul claiming 23.3% of all house mortgage sales in Turkey.
Such stats are a sign that Turkey’s property market is rapidly maturing which is a good sign for foreign investors.
When considering property for sale in Istanbul it is worth noting that the international business community believes this city has much to offer. DHL, for instance, have been in Istanbul since 1981 and reported in 2010 that freight trade between Turkey and Asia had surged by more than 300% – consequently, DHL has chosen Turkey as it base for expansion into Europe.
This is a typical Istanbul success story with many multi-national corporations choosing to head quarter here – this is indeed good news for anyone thinking of investing in property for sale in Istanbul as the value of Istanbul property will continue to appreciate.
Turkey started to negotiate its accession to the EU in 2005 and is making progress on becoming an EU member state – so now it a very good time to look at property for sale in Istanbul whilst entry point prices are still low.
A 1 bed Istanbul apartment centrally located starts for as little as GBP61K whilst a 3 bed Istanbul apartment can be purchased for around GBP95K – it is no wonder that investors are flocking to this city to view property for sale in Istanbul.
With EU investment in Turkey continuing – in the last 6 years the EU has directed 202 projects to Turkey (Ernst & Young) – so too is Asian investment with Japan’s Mizuho Financial Group expanding its market presence in Turkey. It is clear that Turkey and Istanbul are recognised as high growth areas by major world economies which can only be good for Istanbul property – consequently there are many more options available for property for sale in Istanbul. Some of the best opportunities can be found with Istanbul off-plan apartments - with new projects are planned for the city’s commuter belts.
Finding a property for sale in Istanbul Turkey is now much easier as there is so much more choice. With the Turkish government committed to building at least 250,000 new units in 2014, there are many options for Istanbul property available.
Istanbul luxury flats can be found in up and coming districts near to the centre. The price points are relatively low with a 1 bed Istanbul luxury flat starting at around EURO 40K, whilst a 2/3 bed luxury Istanbul flat can be purchased for around EURO 70K.
New build Property for sale in Istanbul Turkey covers a range of options from 1 bed Istanbul apartments to 2/3/4 bed Istanbul apartments. New build Istanbul apartments are normally very modern in outlook – a demand driven by the rising number of middle class residents in Istanbul.
Off-plan property for sale in Istanbul Turkey is perfect for the investor. Providing you choose the right project in a location with fast access to Istanbul central, then you could make as much as 35/40% profit on the final list price. Make sure the complex has good on-site facilities such as a fitness centre, swimming pool, shops, landscaped grounds and 24/7 security. Such features will add to the property’s desirability and enable you to sell quickly once the project is complete.
Hotels are also featuring heavily in property for sale in Istanbul Turkey as owners look to capitalise on the millions of visiting tourists, by selling out to large hotel chains. Some of the best bargains for Istanbul hotels can be found in small, boutique hotels with a central location. Such Istanbul property is not always easy to find as the owners rarely advertise on international property portals – but our Istanbul agents have all the details!
With over 40% of the 14 million or so Istanbul residents under the age of 35 it is no surprise that the demand for new Istanbul real estate is running at around 250,000 units per year, with the municipality setting aside thousands of acres of land for large-scale residential projects.
A recently passed property law has given a boast for those looking to be residential tourists and grab a piece of Istanbul real estate – whilst prices are still relatively low. Contemporary residential zones are now booming around Istanbul’s historic old quarter, whilst outlying suburbs enjoy state-of-the-art transport links to downtown destinations – attracting an influx of foreign buyers.
The savvy investor is now looking at previously “off-radar” districts for Istanbul real estate, such as the upmarket Bosporus neighbourhoods of Bebek, Emirgan and Yenikoy – all of which offer high potential. Bebek, for example, has an excellent selection of Istanbul real estate from traditional villas to modern town houses.
In the city centre, the up and coming districts of Levent and Akatlar are prime areas to pick up Istanbul real estate with high per capita gains potential – with major shopping centres and famous Istanbul sights and landmarks in close proximity.
The good news is that Istanbul real estate is exempt from Capital Gains Tax (CGT) providing you keep your property for 5 years, whilst VAT is only payable on new build flats from 1% up to 18% for the larger properties.
Key areas for Istanbul real estate are central districts such as Beyoglu, Taksim and Sisli, though key suburbs like Bahcesehir, Beylikduzu and Esenyurt are attracting foreign buyers due to the quality of developments, the low entry point cost and new transportation infrastructure.
In short, Istanbul real estate is booming with residential sales prices for existing homes rocketing by 19.47% up to January 2013 (REIDIN) – the future is now!
Istanbul is comprised of 39 districts so knowing more about these areas is critical if you want to make an informed decision about Istanbul property. Sisli, located on the city’s European side, is a centre for trade and shopping – home to the world’s largest shopping mall, Cevahir Istanbul. Sisli has a strong middle class past which is reflected in the quality of Istanbul property in surrounding neighbourhoods. The area also contains several high schools and is famous for running preparatory courses for students wishing to enter university – so owning Istanbul property in Sisli would afford excellent rental opportunities.
To the west is Esenyurt, home to over 500,000 citizens and a key area for Istanbul property with many new housing projects in progress, whilst to the east is the district of Beylikduzu originally settled by Greeks in the second century AD. New Istanbul property can be found in Beylikduzu such as upmarket apartments that are just a 20 minute drive from Ataturk International Airport with proximity to schools, universities, hospitals and cinemas.
The Buyukcekmece district of Istanbul, located on the European side on the Sea of Marmara Coast, is an excellent area for Istanbul property with new high quality housing developments complete with sea views.
To experience city life in the heart of Istanbul then Nisantasi is an ideal location in the Sisli district, and is considered one of the city’s most affluent areas with famous brand name stores and European style cafes, pubs, restaurants and nightclubs. Istanbul property in Nisantasi tends to be on the luxury side with exclusive new build apartments offering stunning sea vistas.
Luxury Istanbul property can also found in Zekeriyakoy, in the Sanyer district of Istanbul, famous for its silent and peaceful life amongst the upper middle class residents. The latest high end residential developments have ensured that this small village is now one of the wealthiest districts of Istanbul.