Why should you invest in Istanbul homes in 2021
Investing in Istanbul homes is one of the most important investments in 2021. According to the statistics, the price of homes in Istanbul has increased incredibly. The rent of apartments has also changed in the last 3 months.
Why turkey? Is it the best time to buy an apartment in Istanbul? Should I invest by buying Istanbul homes? What is the price of homes in Turkey in 2021?
Keep reading this article to have the answer to all these questions.
Why Turkey?
Turkey’s real estate market is becoming all the rage recently. It’s a field brimming with opportunities and overflowing with possibilities. But what are the factors behind the success of the market? And most importantly, why should you consider investing in Turkey?
1- Affordable Prices on the Rise
Turkey’s late entrance to the international market has allowed its price to be drastically affordable. In comparison to competing destinations with the same benefits, Turkey’s market is significantly more affordable. But owing to the monumental attention Turkey’s real estate market is receiving, prices are projected to skyrocket in the near future. Providing in turn, a short-term success with a satisfactory profit margin.
2- Secure and Sturdy
Stability is the number 1 reason behind the surge of foreign interest in Istanbul homes. Despite the oscillation of the global economy due to recent health issues & despite Turkey’s own ups and downs; the market performance is consistent. It gives you as an investor the security of carrying out your investment goals with no imminent threats.
3- Modern & Deluxe Projects
When it comes to Turkey, prices are never an indicator of quality. With the affordable costs in Turkey, you can invest in luxurious projects with the highest quality. Many of Turkey’s construction companies are international award winners.
Known best for architectural innovation and avant-garde designs; Turkey’s real estate landscape is a breath taking-variety of modern and deluxe projects.
Turkey is gaining widespread popularity as an address for sophistication and comfort; a feature which its real estate reigns on.
4- Citizenship by Investment Program
Turkey’s citizenship by investment program is the jewel to the crown. Ranked 39th in the world, Turkey’s passport is an attraction for many foreigners. While most of the applicants for the program come from the Middle East, American and Europeans are also in on the trend.
Aside from having a powerful passport, Turkey’s citizenship program is fairly easy to meet. The requirements aren’t challenging, from buying property for $250K to the absence of stay requirements. All in all, Turkey’s citizenship program is convenient.
5- Granting Mortgages to Foreigners
Uncommon as it is, some foreigners can’t afford real estate in Turkey despite the low prices. In which case, Turkey’s facilities come in clutch making it one of the few countries that grant mortgages to foreigners.
Turkish banks can give you a mortgage covering up to 70% of the payment. But, you must note that how much you can get depends entirely on your profile. Information such as your spending habits, income, and so on can influence the decision.
The price of homes in Turkey 2021?
The prices of houses within Turkey in 2021 have seen an increase of significant proportions in the majority of regions in Turkey. This increase is following the clear improvement in the real estate market and other Turkish industries following the Corona crisis.
The average house prices in Turkey 2021
According to the most up-to-date global statistics, the cost per square meter in Turkey is approximately 892 US dollars, about 7,500 Turkish Liras.
This number indicates that the cost of istanbul homes is in line with the prices of real estate in other major countries around the world. It also shows that the annual rise in the value of Turkish real estate is a positive and a good investment.
Do you want to invest in Turkey? Here’re the pros & cons
How to Invest in Istanbul homes
Rental Properties
Buying rental properties is a great investment approach. It helps you maximize your profit by the time your property’s value soared which takes years. In the meantime, you can lease your apartment to long term tenants.
Here’s how you can calculate your rental returns
To calculate your gross profit from rental returns:
- Multiply the rent by 12
- Divide the sum you get by the property value
- Multiply the answer by 100
And that would be the profit in percent you can generate from investing in rental properties.
This approach is safe because it provides a consistent source of income for you. But you should keep in mind the aspects of renovation and maintenance when switching tenants.
How to maximise profit from rental properties?
Investing in properties right next to the main transportation node is key to increasing rent prices. Likewise is investing near touristic locations and commercial centers.
The more facilities a project provides the higher the rent can be extended.
We offer services at alhuda that include management of rental properties that belong to our clients. So if you’re away on a business trip, and through a power attorney you can allocate a member of our team to handle all your rental responsibilities.
Projects Under Construction
Alhuda real estate exclusively works with projects developed by reliable and punctual construction companies. We seek only construction firms that deliver projects in time with minor to no delay.
Why are we scrupulous with our unfinished projects? Because we want to give you the opportunity to safely invest in this strategy.
Buying real estate that’s under construction will come at very reduced prices. The earlier you buy your property the cheaper it will be. And by the date of delivery you would have secured yourself a large profit margin and can resell your property for short-term prices.
You can also renovate the property and furnish it for even bigger profit. Interior design is a key element to how fast a property resells. It will also raise the price of your property by large.
Luxury Property Near Commercial Projects
Investing in commercial projects that are under construction is your ticket to quick profits.
Until the project is delivered, such as a mall, a metro station, a project that’ll become a landmark, and so on; the prices in the region won’t skyrocket. So you can take advantage of this and invest in property that’s adjacent to it now before it’s ready. Because by then, real estate in the region will swell massively.
The more luxurious the property you’re investing in the higher the profit margin.
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