Istanbul is the most preferred city for buying property by foreign investors in Turkey. As a result of the new regulations adopted by the Turkish government in the ‘buying property by foreigners’ and ‘Turkish citizenship’ laws in order to encourage foreign investors, there has been a large increase in demand for the purchase of property in Istanbul. Foreign investors can buy a property in Istanbul to invest or sit together with the new regulations and can apply for Turkish citizenship if the value of the property they buy is at least 400,000 $.
Buying property in Istanbul; in this article, we will provide detailed information about the process of buying property in Istanbul by foreign citizens. What should be considered in the process of purchasing a property in Istanbul? What are the best areas for property investment in Istanbul? We will answer such questions.
Buying property is an attractive investment tool that is the most preferred among investments and is considered a “safe port” all over the world. After the regulations of the Republic of Turkey in the laws to encourage investors, Istanbul has become the most popular city for property investment. Istanbul offers lucrative investment opportunities with newly built and under construction transportation, infrastructure and urban transformation projects.
Istanbul airport, the construction of which has been completed, the Northern highway extending from one end of Istanbul to the other, the Yavuz Sultan Selim Bridge that connects the Asian and European continents with the Northern highway, the Eurasia tunnel that connects the continents under the sea in the Bosphorus, the metro lines that continue to expand all over Istanbul and new public transportation projects provide an easier and faster transportation by shortening the distances within Istanbul.
New residential centers are being formed with large projects such as Canal Istanbul, which are planned to be built with completed projects, and all dynamics for property investment in Istanbul are changing. The most important investment tip is hidden in accurately identifying the potential of the region. For this reason, before investing in property in Istanbul, it is necessary to analyze the regions well for the purpose.
Buying house in İstanbul
Istanbul is one of the most popular provinces where both locals and foreigners choose to buy houses. In Istanbul, which is constantly growing with new construction projects, rich and diverse house options have begun to emerge.
In addition to those who buy houses for residence purposes in Istanbul, the number of people who buy houses for investment purposes is also quite high. The purchase of housing, which has always been traditional investment instruments’ baby, also makes a good profit when planned in this context. Houses purchased for staying purposes are generally considered close to work, school and social facilities, while houses purchased for investment purposes are more preferred in developing areas of the city or central locations with high rental yield. In addition, you can choose the house you will buy in Istanbul in accordance with your purpose of purchasing and budget in the type of apartment or villa.
The system of working from home can become widespread !
An outbreak of the corona virus, first seen in Wuhan, China, soon affected the entire world. As in the whole world, after the virus, Turkey experienced radical changes in working life and normal life. As in the world, in many sectors in Turkey, people started working from home via the internet. After the end of the process, many companies can apply this method after the virus, as employees get rid of burdensome costs such as food, road and workplace rent. This made buying a home more attractive.
Istanbul is the city that connects the continents of Europe and Asia.
Istanbul consists of 39 districts and 9 islands with a population of 15,067,724 with a surface area of 5,712 km2. Istanbul, a city that connects the Asian and European continents, provides an intercontinental connection with three Bosphorus bridges and a Eurasian Tunnel that passes under the sea.
The history of Istanbul dates back 8,500 years. In history, Istanbul has been the capital of the three great empires, the Roman, Byzantine and Ottoman Empires. There are 1,796 historical sites in Istanbul.
The hills of Istanbul, also called “Seven Hills City”, are,
Topkapı Palace Hill, Çemberlitaş Hill, Beyazit Hill, Fatih Hill, Yavuz Selim Hill, Edirne Hill, Kocamustafapaşa and Cerrahpaşa Hills.
Districts located on the European side of Istanbul
Arnavutköy, Avcılar, Bağcılar, Bahçelievler, Bakırköy, Başakşehir, Bayrampaşa, Beşiktaş,Beylikdüzü, Beyoğlu, Büyükçekmece, Çatalca, Esenler, Esenyurt, Eyüpsultan, Fatih, Gaziosmanpaşa, Güngören, Kâğıthane, Küçükçekmece, Sarıyer, Silivri, Sultangazi, Şişli, Zeytinburnu
Districts located on the Asian side of Istanbul
Adalar, Ataşehir, Beykoz, Çekmeköy, Kadıköy, Kartal, Maltepe, Pendik, Sancaktepe, Sultanbeyli, Şile, Tuzla, Ümraniye, Üsküdar
The North Marmara Highway, which runs from one end to the other in Istanbul, connects the Asian and European continents with the Yavuz Sultan Selim Bridge. The exit from Istanbul Airport, which is among the few airports in the world, provides the opportunity to reach all districts on the European side of Istanbul in a short time, thanks to the Northern highway. A passenger leaving Istanbul airport can change continents by crossing the Yavuz Sultan Selim Bridge from the European side to the Asian side in as little as thirty minutes, and in as little as an hour he or she can reach from one end of Istanbul to the other.
This rapid transportation is equally applicable on the Asian side. A passenger leaving Sabiha Gökçen Airport, located on the Asian side with the Northern Highway, can reach all the districts on the Asian side in a short time, as well as changing the continent by crossing from the Asian side to the European side in thirty minutes, or reaching the other end of Istanbul within an hour.
The passage from the European side to the Asian side is provided by three Bosphorus bridges, the Eurasian Tunnel passing under the sea, trolley steamers, steamboats and boats.
City transportation on the Asian and European sides is primarily provided by a wide metro network. New metro lines are being added to existing metro lines, which are rapidly being built every day. In addition, transportation in Istanbul is provided by Metrobus lines, Marmaray, trams, buses, minibuses, Dolmus lines and taxis that work integrated with Metro lines.
The Canal Istanbul project and its route
With the planned Canal Istanbul project, it has been foreseen that Küçükçekmece, Avcılar, Esenyurt, Arnavutköy and Başakşehir will become much more attractive to investment.
Arnavutköy continues to grow and develop with projects that have a few examples in the world, such as the Urban Transformation projects initiated in Istanbul in recent years, the world’s largest airport project and Kanal Istanbul, which is seen as the second Bosphorus.
The approximately 45-kilometer-long Canal Istanbul Project route, which will pass through Avcılar, Küçükçekmece, Başakşehir and Arnavutköy, starts from Küçükçekmece Lake and ends on the Black Sea coast. This project is expected to be a mega project in many areas in the coming years, especially for urbanization, transportation and tourism.
The most important element in real estate investment is the accessibility to the surrounding areas from the location of the property. For this reason, transportation options in Istanbul increase the investment value of all regions in Istanbul and make it attractive