Discovering Opportunities: Why Istanbul Real Estate is a Smart Investment

Real Estate Investment: A Smart Path to Turkish Citizenship

One of the most appealing reasons to consider Istanbul real estate investment is the possibility of obtaining Turkish citizenship through investing. The Turkish government has implemented a citizenship-by-investment program in which international investors who purchase properties that match specific conditions are granted citizenship. 

The Turkish Passport is a profound passport that is now ranked 51st in the world as of 2023. Furthermore, it permits visa-free entry to 114 different countries. For this reason, excellent choice to get Turkish citizenship by investing.

Real Estate Investment Potential in Istanbul

Istanbul’s population is on a rapid incline with immigration being a big factor.  According to TUIK, the number of immigrants in 2021 increased by 116.9% over the previous year, reaching 739,364 individuals. When dividing the immigrant population by citizenship, 124,269 were Turkish citizens, and 615,095 were foreign nationals. This increase sets up an excellent opportunity for real estate investment in Turkey.

However, let us narrow it down and focus on Istanbul. Additionally, a growing population will complement investments in Turkey. According to United Nations Population Projections, these are the total metro population gains every year. Istanbul’s metro area population in 2020 was 15,190,000, a 1.48% rise from 2019. It increased by 1.48% to 15,415,000 in 2021. Afterward, it was 15,636,000 in 2022, a 1.43% rise. Lastly, it was 15,848,000 in 2023, a 1.36% rise. As a result, a rapidly growing population and immigration are yet more motives for real estate investment.

Historic Landmarks

Istanbul’s historical importance is embodied in its iconic landmarks to aid its real estate demand—the Hagia Sophia, originally a Byzantine cathedral and later an Ottoman mosque, represents a harmonious blend of Byzantine and Islamic influences; the Blue Mosque, a masterpiece of Ottoman architecture with its cascading domes and blue tiles, showcases the empire’s grandeur; and Topkapi Palace, the former residence of Ottoman sultans, offers a glimpse into the imperial lifestyle and governance. In addition, there are many commercial properties, homes, and residences around these places.

These significant historical events in Islamic civilization, Europe, and most of the Mediterranean region occurred on this very land. Many people desire to visit, reside in, and immerse themselves in these historic locations. As a result, the demand for buying real estate property in Istanbul is typically high.

Mediterranean Climate

Yet another reason to invest in real estate in Istanbul is the weather. The city earns renown for its fantastic weather, boasting a Mediterranean climate with moderate winters and summers. Thus, creating an attractive environment for real estate buyers. Winters are never too cold given it snows 3-4 times per year. Throughout the rest of the year, a pleasant and reviving breeze fills the air, never becoming unbearable. The nice weather in the city attracts both inhabitants and visitors, making it a popular spot to live or invest in real estate property in Istanbul. 

Government Incentives

The Turkish government aggressively encourages investment in the real estate sector through numerous incentives and policies. These include relaxed property ownership laws and lower VAT rates on residential properties, making real estate investments more accessible to both domestic and international buyers. Discounts on title deed fees lower transaction costs for real estate transactions, benefiting both buyers and sellers. Furthermore, government projects in many locations, as well as an expanding public transportation system, are being implemented. These factors make it easier to invest in real estate property and attract tenants. 

Strategic Location as a Commercial Real Estate Advantage

The strategic location of Istanbul supports its cause for commercial real estate. The city has been a cornerstone of its historical and modern significance, making it a vital hub for trade, business, and cultural exchange. It spans the Bosphorus Strait, which connects the Sea of Marmara to the Black Sea, and is located at the meeting point of Europe and Asia. For this reason, there are usually great sales in Istanbul. 

With various properties for sale, Istanbul is an important international gateway in modern times. As it connects Europe with Asia, the Middle East, and beyond. Because of its strategic location, the city has become a popular choice for multinational organizations, investments, and entrepreneurs looking to build a foothold in both European and Asian markets. As a result, there is a high demand in Istanbul for commercial real estate, office spaces, and operational facilities to meet the needs of international trade and business.

Istanbul’s Real Estate Market: A Steady Rise in Sale Prices

According to Mordor Intelligence, the Residential Real Estate Market in Turkey is predicted to reach USD 151.23 billion by 2028, from USD 89.11 billion in 2023. In addition according to the Central Bank of Turkey, The average sale price of real estate in Istanbul climbed by 9.2% in 2022, according to data from the Turkish Statistical Institute. As a result, the sales suggest it is a good option to consider Istanbul real estate investment.