Contrary to a common misconception Istanbul is not the capital of Turkey, in reality it is far more than that. Istanbul is the cultural center of Turkey, which in a country of so many different cultures is really saying a lot.
2010 was Turkey’s turn to host the European capital of culture, but the festivities did not take place in the capital Ankarra, but in Istanbul. To all those who know of it, Istanbul is considered one of the great cities of not only Europe but the world.
It has history dating back to before Christ, cultures from around the world (Asia, the Middle East and East and Europe) and now all the modern shops, malls and supermarkets you’d expect to find in any modern great city. Istanbul is also within range of many great beaches, and has two international airports. All this makes Istanbul property very popular with holiday home buyers.
Investment Potential of Property in Istanbul
But property in Istanbul also has bags of investment potential:
Istanbul property prices are no higher than the rest of Turkey. This, combined with tourism growth gives way to strong potential for good holiday rental yields on fly to let investments, and combined with massive population and economic growth, gives way to potentially strong residential rental yields.
There is also a great deal of potential for capital appreciation, again because of the low property prices and potential economic growth. All the signs point to Istanbul growing into one of the world’s great cities, Istanbul property prices can only increase if this growth is realised.
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It is widely regarded that now is the ideal time to invest in Turkey property. Turkey has started the process of joining the EU, which traditionally makes a huge difference to any property market.
Spot Blue are able to offer a wide range of apartments, villas and land across Turkey from £25,000. It is widely regarded now is a good time to invest in Turkey, with increasing flight access, potential EU accession, young population, new finance laws amongst the main reasons!