Why Buy an Apartment in Istanbul, Turkey
Foreign investment in Istanbul, Turkey’s real estate market has always been strong, but it has experienced a significant rise in popularity in the recent years. There are basically 3 types of property owners in the country with the popular option being those who wish to purchase apartments as temporary and permanent residences.
These small but comfortable units are chosen by foreign investors who wish to visit the city temporarily either to take care of business, for vacations or to invest in larger real estate.
The second are expatriates and retirees who wish to live a more cost effective and simpler life amidst warm weather and a simple to acquire health care plan. The third are investment buyers as well as professional developers and business owners who wish to purchase land to renovate but they also search for apartments they can rent out.
Irrespective of the kind of investor you are, searching for apartments for sale in Turkey is a good idea if you wish to diversify your portfolio. For instance, Turkey is considered to be cheaper in real estate as compared to the EU or Gulf States. This means you can get a lot more for your money especially if you wish to retire in the country or become a permanent resident or citizen. If you choose to do so and invest in apartments while you are at it, you can also benefit from the lack of taxes and the low cost of living as well as the slower paced lifestyle that the country supports so well.
As a potential investor, you can purchase an apartment or apartments in Turkey and rent them out for tourists. The country is well known for being a magnet for leisure travelers, business travelers and casual vacationers who are always in search of temporary living arrangements when they plan a trip there, especially if they are travelling to Istanbul.
In fact, as an investor, you should be aware that the country is quite dependent on tourism for most of its capital so there will always be money to be made from such arrangements. On the other hand, if you wish to purchase a property to live in on a temporary basis, then you can do quite well during your search.
This choice will come with the benefits of owning a second home and since foreign buyers can now get property deeds from Turkey faster than before (after a law was passed in the country to favor those investors) you will have little trouble acquiring the ones you need. According to the same law you can will be able to take advantage of a yearlong residency permit which will benefit you if you wish to take care of business in the country and return to the Middle East after.
Investing in apartments in Istanbul will be a solid investment decision if you wish to make your portfolio attractive for future investments. Hiring a professional local agent from the area will stand you in good stead in this regard. Call us by dialing +90 212 25 64 14 or visit Alaproperty for more details.
Originally published at alaproperty.com on March 27, 2017.