Istanbul is a city that has seen a lot of growth in recent years, and that trend is continuing as more and more foreigners are discovering the many advantages of buying property in Istanbul. In this article, we’ll take a closer look at some of the reasons why buying property in Istanbul is a great idea, including the real estate price trends, sales price per sqm, and rent price per sqm in different districts of Istanbul. We’ll also compare the real estate market in Istanbul to other major cities abroad to give you a better idea of what to expect.
One of the biggest advantages of buying property in Istanbul is the relatively low prices compared to other major cities abroad. The average price per square meter in Istanbul is around $2,000, which is significantly lower than in other major cities such as London and Paris. Additionally, property prices in Istanbul have been steadily increasing in recent years, making it a wise investment for the long-term.
Another advantage of buying property in Istanbul is the wide range of options available to buyers. Whether you’re looking for a small apartment in the city center, a larger apartment in a suburban area, or a villa in the countryside, you’ll find it all in Istanbul. The city is divided into different districts, each with its own unique character and attractions. Some of the most popular districts for foreigners include Beyoglu, Sisli, and Besiktas, where you can find a variety of properties at different price points.
When it comes to renting out property in Istanbul, the city offers attractive rental yields. The average rental price per sqm in Istanbul is around $10-15, while rental yields can be as high as 5-6%. This makes Istanbul an attractive destination for investors looking to earn passive income.
Another advantage of buying property in Istanbul is the city’s location and connection to the rest of the world. Istanbul is a bridge between Europe and Asia, and has become a popular destination for both business and tourism. Istanbul’s two airports, Istanbul Atatürk Airport and Istanbul Sabiha Gökçen Airport, are the main gate to the city for international travellers. The city is also home to many international companies, making it a great place to live and work.
In comparison to other major cities, Istanbul offers a more affordable cost of living and a higher standard of living at the same time. The relatively low prices of everyday items, housing, healthcare, and transportation can help to stretch your budget further, while still allowing you to enjoy a high quality of life. Additionally, Turkey’s culture, history and natural beauty make it an interesting place to live and explore.
In conclusion, buying property in Istanbul is a great idea for foreigners. The city offers relatively low prices compared to other major cities abroad, a wide range of property options, attractive rental yields, and a great location and connection to the rest of the world. Additionally, Istanbul offers a more affordable cost of living and a higher standard of living at the same time. With all these advantages, Istanbul is an ideal destination for those looking to invest in property and enjoy the benefits of living in one of the world’s most fascinating cities.
