The tourism business is very developed in Turkey, and thanks to this, investments in infrastructure residential complexes are in the greatest demand among private foreign clients. A villa in Turkey can become a really profitable investment.
Why invest in Istanbul
Istanbul is the center of a unique culture, a developed economy, and an oasis of stability and prosperity. If you want to become a full-fledged citizen of this country, you can become a member of the state program for obtaining citizenship through investment in real estate. Consider why it is really important to invest correctly:
- The country’s economy is developing rapidly, and new enterprises and organizations are opening, which means that the demand for real estate in this country is also growing.
- Turkey is one of the most socially prosperous countries in the world. It is here that there is a low level of crime, there is practically no corruption, and the social orientation of the government provides favorable conditions for life.
- The country’s legal framework guarantees the inviolability of private property. This makes the investment safe and quite successful.
- Turkey is a country with a mild climate, friendly locals, and a favorable geographical location.
All of the above factors purchase real estate in this country the best decision, which, in addition, can become a good springboard for an investor to move to Europe or the USA.
Current market situation
For a better understanding of the situation that is currently developing in the Turkish real estate market, it is necessary to familiarize yourself with the statistics.
According to the Turkish Statistical Institute TurkStat (TurkStat), 147,143 properties were sold in April 2022. Compared to the same period of the previous year, the number of transactions increased by 7.6%. The following cities were the most popular in terms of consumer demand:
- Istanbul – 28,229 properties sold (19.2% of all transactions);
- Ankara – 14,218 properties sold (9.7%);
- Izmir – 8806 (6.0%).
The sale of real estate purchased on credit in April 2022 decreased by 16.3% compared to the same month of the previous year and amounted to only 29,759 properties. The share of mortgage real estate is 20.2% of the total number of transactions.
In April of this year, 117,384 other properties were sold, which is 16.0% more than last year. The share of sales amounted to 79.8% of all real estate sold. In August-April, 767,283 properties were purchased, which is 17.6% more than in the same period the previous year.
The sector of new buildings pleased with a moderate increase in sales. In April 2022, 43,967 transactions were registered, which is 6.3% more than last year. Thus, the sale of primary housing accounted for 29.9% of all properties sold in Turkey for the month.
In the secondary real estate sector, 103,176 sales were recorded. In April 2022, the figures increased by 8.2% compared to the same month last year.
According to the report, in April the number of real estate purchased by foreign investors increased by 25.8% compared to the same month last year, and amounted to 6,630, and the number of transactions – 4.5% of all properties sold. Foreigners were most willing to buy in the following cities:
- Istanbul – 2995 sales;
- Antalya – 1358;
- Ankara – 408.
Turkey offers benefits to both Turkish and international individuals and legal entities investing in the country’s economy. There are no special benefits for foreigners. To reduce the cost of investments, financial, economic and tax incentives are provided.
If everything is done correctly, the purchase of real estate will be a reliable financial help. According to the Forbes agency (Forbes), rental income, depending on the area and type of property, ranges from 2 to 9%.
Real estate is a real asset focused on value appreciation. You can live in an apartment on your own or rent it out for several years, and then profitably resell and earn income from rising prices.
Etoile Houses is a residential complex in Istanbul (Avcilar district), the construction of which is 100% completed. The developer offers to buy an apartment for USD 198,296 to USD 436,826. The area of residential premises is from 94 to 224 square meters.
We suggest considering this proposal in more detail.
Etoile Houses is located in the Avcilar district of Istanbul on Firuzkoy Boulevard. The residential complex has four blocks of houses where you can choose from a variety of apartment options: from miniature one-room apartments to spacious apartments with 4 bedrooms and 1 living room.
The Etoile Houses project offers not only an excellent layout and architecture of apartments but also allows you to evaluate the capabilities of the “smart home” system. This means that homeowners can control their homes from their mobile phones. This system ensures the safety and security of the facility, climate control, and other living conditions.
Location of Etoile Houses
The Etoile Houses project is located 380 meters from the E-5 highway, 600 meters from the Metrobus stop, and 1.1 km from Istanbul University.
Residents of Etoile Houses can enjoy the following privileges of the residential complex:
- swimming pool;
- sports hall and playgrounds;
- social zones;
- shops and cafes;
- trails for walking;
- charming landscape areas.
The developer offers to buy an apartment in Etoile Houses at an affordable price. The prices are presented in the table:
|Number of rooms||2+1||3+1||4+1||3.5+1|
|Area||94 sq m||185 sq m||224 sq m||203 sq m|
|Number of bathrooms||2||2||3||2|
|Average price||USD 199,733||USD 198,296||USD 331,211||USD 333,367|
Real estate in Turkey
Making the right choice starts with a real estate expert’s consultation.
This is a new generation residential complex that will develop and grow, providing residents with ever new privileges and amenities. Buying an apartment in Etoile Houses means confirming your high status and investing money profitably. To get advice regarding the choice of a property and the procedure for the purchase and sale, please contact Turk.Estate broker.