Why Is Istanbul Most Favorite City For Buying Real Estate in 2022 ?

12 March 2022 Real Estate News

Istanbul Most Favorite City For Buying Real Estate In 2022 

In 2021,Istanbul reclaims first place in Turkey in terms of international property sales.Since 2015,the city that has consistently ranked #1 in the number of property sales to foreigners has been the most popular destination for foreigners in Turkey.

In the first 10 months of 2021,a total of 20.247 properties were sold to foreigners in Istanbul.

This figure represents 46.68 percent of all property sales to foreigners in Turkey.Antalya is the second most popular destination,with 8.640 home sales, while Ankara is the third most popular destination,with 2.755 property sales.

The world economy has been badly affected by the coronavirus outbreak in November 2019, which turned into a global pandemic in 5 months.

However, the real estate industry has been one of the least damaged industries.

Meanwhile, the hospitality industry has suffered the most as a result of the pandemic's restrictions on people's movement.

As a result of this predicament, there has been a rise in demand for houses where people can enjoy their vacations without having to worry about the pandemic.

Because Turkey, particularly Istanbul, has long been one of the most popular tourist destinations in the world,real estate in Istanbul has inevitably been the most sought after.

Despite the fact that the number of foreign visitors to Istanbul has decreased owing to the pandemic,the number of people who prefer to spend their vacations in their own Istanbul apartments or houses has increased.

This is supported by the 5,59 percent increase in the number of property sales to foreigners in Istanbul in the first ten months of 2021 compared to the total number of sales in 2020.

What Attracts Foreign Visitors To Istanbul?

By far the most well-known city in Turkey among foreign visitors is Istanbul. This is why:

1- Istanbul has a rich historical and cultural background : because it is situated at the crossroads of Europe and Asia. For centuries, the city, which is bordered on the north by the Black Sea and on the south by the Marmara Sea, which connects the Black Sea to the Mediterranean Sea, has been an important port city.

As a result, Istanbul has been the target of several assaults and has served as the capital of numerous major civilizations. These civilizations have had a significant impact on Istanbul's landscape. Istanbul now welcomes visitors with a diverse cultural heritage.

Istanbul Favorite City For Buying Real Estate in 2022

2- Attractive Attractions: Istanbul is a well-known city not just for its strategic location, but also for its picturesque attractions.

For centuries, many well-known painters from over the world have been awestruck by Istanbul's breathtaking natural beauty and have attempted to capture it in their works.

Istanbul's stunning beauty continues to enchant visitors and make them want to stay forever.

3- A Wide Range Of Amenities: Istanbul, which has been a capital for centuries and is now a center of business and production, provides a comfortable and colorful lifestyle to its visitors and residents.

4- Reasonable Cost: In this era of globalization, currency exchange rates have a significant impact on the prices of goods and services.

Foreigners may now buy luxury properties in Istanbul thanks to the weakening of the Turkish Lira in recent years.

As a result, many tourists flock to Istanbul to live a lavish and colorful life without breaking the bank.

5- Profitable Investment Opportunities : In recent years, Istanbul has become one of the most popular destinations for making a profit. Turkey's low property prices, growing economy, and dense population make it easier for businesses to thrive.

While starting a new business in Istanbul is a terrific investment, renting out commercial premises in Istanbul is the greatest option for people who don't have time to start a new business in their already hectic lives.

Lands in Istanbul, on the other hand, provide beneficial investment opportunities on a wider scale because they may be used for agricultural production as well as residential and commercial building construction.

Another cause for an increase in property sales to foreigners in Istanbul would be the simplification of legal processes for foreign property purchases.

If you have any questions about the properties in Istanbul or the purchase process in general, please do not feel free to contact us or visit our officeAKDinvest the best of invest

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