There are some important details regarding buying property in Istanbul that you should know before acting.
By now everyone’s well aware of Istanbul’s huge potential for investment. However, if you do not be careful, you might make grave mistakes.
We recommend you to get professional support and consult Real Estate Professionals before making decision.
The recent Global Living Report from international real estate services firm CRBE, which compares property markets across 35 key cities, showed that Istanbul experienced the highest house price growth with 25% annual growth.
However although prices have risen quickly, the report stated that at $127 per square metre, Istanbul’s property prices were also extremely favourable compared to its rate of growth. CRBE continues that Istanbul still has huge potential for growth.
Investors seeking the aforementioned favourable prices need to tread carefully, however. While this is a city that’s clearly going places, not every development or even every area represents a good investment.
If you’re an investor seeking to increase your property portfolio, our Istanbul consultant Mustafa Yilmaz urges you to look towards the west.
“Depending on where your home is located, travel time to the central region is between one and two hours. In terms of investment, this region does not appreciate in line with the central parts of Istanbul. However, we think Western Istanbul is an extremely good option for investors.”