Istanbul Properties, a major area of interest for the foreign investors

Perhaps, not a single individual, with the interest resting in the fields of investment, would be unaware of the rising demand and the rates of the properties of Turkey. The fact has been asserted by many and world’ most renowned magazines and surveys that Turkey is the second with the highest rate of the properties in the world economies, after Hong Kong, also recorded by the Economics Global House Price Index, in October 2015.

The fact of the rising demand for the property doesn’t cease here and the foreign demand and sales have been increased by 23.8 % as compared to the same month of the year 2014. The government has also declared that Turkey will follow the countries like Greece, Portugal, and Spain by offering residency to the foreign investors.

The crown city of the country, Istanbul, one of its kinds that connect two major continents, Asia and Europe has seemed to boost the rising demand for the property. The location has been a favorite spot for the many major film makings and the perfect example of the beauty of city has been captured in the movies of James Bond, Skyfall, and From Russia with Love.

The alone city has welcomes more than 12.5 million visitors last year and being able to make it the fifth most popular city in the world. Apart from being a tourist’s hub, the city is filled with many types of apartments.

The cost of property seems to rise endlessly in the district of Beylikdüzü. The prices have been raised by 20 to 21% in the last five years, as recorded by the founder of Universal21.

The recent developments plan set on the location; Beylikdüzü has made many to make their way to place as it opens up the new horizon for the residents. For instance, the new launched Papatya Park Residence.

It has been recorded that the plan of 387 apartments of one to three bedrooms along with the balconies is to be finished by the end of this year. On the completion of the project, another project of the nine-storeys building at Papatya’s cluster will begin that will include landscape gardens, basketball courts, and swimming pools.

The expensive properties throughout the central Istanbul see no shortage in coming years. In the district of Beyoglu, the average price for the large one bedroom is estimated to be US $640,000 and area adjacent localities and main attraction makes it an ideal choice to reside.

The area of elite people, Bosphorus Marina area is the home to the British International School and the average rate of the four-bedroom apartment is estimated to be US $ 1.5 million.

A nine-bedroom Ottoman Timber mansion that dates back to the 19th century is on the sale by the British owners in the island of Heybelida, Istanbul. The average rate of the apartment is estimated to be £600,000.

The team of developers has taken a major interest in the area of the Oceanic Bayview. With 38 villas offering the 360 degrees view of the lake and Marmara sea, the estimated price of the villa has been estimated to be US $ millions. All the villas feature with eco-friendly and smart technology along with the swimming pool. All the villas are on the sale of Universal21.

Citizens from all over the world are investing in the Turkish properties for the fact that the property can be bought here without any obstructions. But, the reselling of the property even after five years won’t get any capital gains.

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    fatma Written by:

    Fatma Şahin fatmasahin@istanbulinvestments.com

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