Istanbul is a luxury metropolis that entices foreigners with its unique color and amazing beauty. This is a city of amazing possibilities, including in terms of investment. The metropolis is visited annually by millions of tourists, students, workers of various industries, businessmen, etc. Regardless of the purpose of visiting, many people seek to find houses for sale in Istanbul for expats.
What is the reason for this desire, and what gives the acquisition of a real estate in Turkey desirous? – let’s figure it out.
Location and Climate
Istanbul is located on the banks of the famous Bosphorus and is located on the hills in the northwestern part of Turkey, thanks to which many residential complexes offer incredibly beautiful views.
Centuries-old East and European cultural traditions are harmoniously intertwined here because Istanbul is located simultaneously on two continents. Such a favorable geographical location ensures reliable trade and economic relations with other countries, increasing foreign investors’ interest.
The climate in Istanbul is subtropical, and the weather conditions are, of course, better than in countries with a temperate continental climate, characterized by drought in summer and frost in winter. The Istanbul weather is more favorable for a comfortable stay.
Istanbul has practically no abnormal heat, and the average summer temperature is +20℃ – +28℃. Winters are cool, but sub-zero temperatures are rarely observed here. Precipitation in the form of snow is unstable. The coldest months are January and February when it can be below +10 ℃ outside.
Many people, tired of prolonged colds and severe frosts, move to Istanbul without much thought. There is no such sweltering heat as in Alanya and Antalya in summer. In winter, of course, it is colder, but with the help of air conditioners and other types of heating, this issue is easily solved.
Favorable conditions and a favorable geographical location are not the only benefits of purchasing property in Istanbul. There are many more reasons to invest in Istanbul housing.
Investment attractiveness of real estate in Istanbul
Houses and flats in Istanbul are promising assets that can bring a quick return on investment. Istanbul real estate is in high need among tenants and is steadily growing in cost yearly. Housing in Istanbul is rented for both the short and long term. According to Turk.Estate profitability on a short-term lease is 8-12% and on a long-term – 6-8%.
As for earnings on resale, its size depends on the waiting period for the return on investment and the stage of construction at which the property is purchased. Undoubtedly, the most attractive prices are offered at the excavation stage, when apartments are 30-40% below their market value.
In the case of the resale of apartments immediately after the commissioning of the residential complex, the investor can count on ⅓ of the profit from the invested amount. And given the annual price increase for Turkish real estate, it becomes obvious that in 2-3 years, earnings will be many times higher. The high rental potential and the steady price rise are reasonable grounds to purchase property in Istanbul.
Tourism Destinations in Istanbul, Turkey
Istanbul is one of the greatest metropolitan areas in the world. The famous Tsargrad and Constantinople are dotted with glorious remnants of their long and distinguished history, and local sights will not leave indifferent even the most fastidious tourist.
Topkapi Palace
It is one of the must-see sights in Istanbul. It combines history and stunning luxurious interiors. Home to the Ottoman Empire for 400 years, Topkapı Palace is surrounded by a five-kilometer stone wall with 27 towers.
Its building dates back to the 15th century, and it is located on a hill overlooking the Sea of Marmara and the Bosphorus. At one time, it was the Ottoman sultans’ official residence and the Turkish government’s seat, and now it is a museum, the largest and oldest palace in the world.
Blue Mosque
The imperial mosque of the era of Sultan Ahmet I is located in the heart of the Old City. The exquisite architectural structure was built between 1609 and 1616 and rendered a sensation with its beauty and size throughout the Muslim world. The mosque got its name from the interior ornamentation of many blue ceramic tiles.
There is the Arasta Bazaar, a wonderful shopping area, with:
- numerous stores and shops with handmade carpets,
- traditional Turkish souvenirs,
- sweets, and jewelry.
Between the market and the mosque is a mosaic museum. This little museum depicts a 250-meter fragment of a mosaic pavement found in the 1950s.
Hippodrome
The construction of the Hippodrome was begun by the order of Septimius Severus in AD 203. It was the center of Byzantine public life, and one could watch magnificent chariot races in its arena. The hippodrome accommodated about 100,000 spectators and had impressive dimensions – about 500 meters long and 120 wide, an unprecedented scale for that time! During its heyday, it was adorned with obelisks and statues, some of which have survived.
Currently, the area where the hippodrome is located is called Sultankhamet. It is worth seeing the fountain presented to the Ottoman Sultan by Emperor Wilhelm II in 1898, the Egyptian obelisk, and the Serpent Column.
Suleymaniye Mosque
Perched high above Sultanahmet Square, the Suleymaniye Mosque is one of Istanbul’s most famous landmarks. It was built for Suleiman the Magnificent by the famous Ottoman architect Sinan between 1549 and 1575. This is the largest mosque in the city – its area is more than 4,500 square meters, and the territory occupies almost an entire block! The interior, dominated by a 53-meter dome, is distinguished by balanced ratios and harmony of design
The complex was built using special technologies to survive over 80 earthquakes in half a millennium! The mosque has never been damaged due to the foundation being filled with water. The Ottoman cemetery is on the street in a peaceful park, where Sultan Suleiman and his beloved wife Hurrem Haseki found peace.
