Why Investing in Istanbul?
With the ongoing financial crisis, the notion of safeguarding money via secure and lucrative investment possibilities has recently come to everyone’s attention. Investing in the real estate market is one of the most essential and perhaps the most secure investments that comes to everyone’s mind. When searching for the finest nations to invest in for real estate development, Istanbul real estate, in particular, and Turkey in general, are among the first results that come up. Turkey is a country with local and global influence, and it is an important member of the G20 group, as it is characterized by multiple economic factors and an important geopolitical position, making it one of the best countries to invest in, particularly real estate investment, whether now or in the future. Last year alone, over 50,000 foreigners purchased real estate in Turkey, the majority of them resided in Istanbul, which has significant economic significance on both a local and global scale. Despite this, many foreigners looking to invest in real estate in Istanbul ask themselves, “Why should I invest in real estate in Istanbul?“
As a response to this issue, we will provide some evidence to persuade you that real estate investing in Istanbul is a viable and profitable venture.
Capital Protection in Turkey
Following the history of the currencies of the most significant nations that promote real estate investment reveals that real estate investment has safeguarded capital from devaluation against currencies and key precious metals such as the dollar and gold. Real estate investment in Istanbul is very encouraging due to capital protection, and this is because property prices always change with the value of the Turkish lira, and if the prices of the local currency fall, the value of the property rises logically to compensate for any decrease in the price of your property. In addition, the Ministry of Economy and the Turkish Central Bank are two key actors in ensuring real estate and product stability and balance against the Turkish lira.
Most people who want to invest in real estate outside their home nations limit their choices to the most major tourist-friendly countries, such as Turkey, Spain, and France. Most of these individuals end up investing in Turkey since it provides a variety of real estate investment opportunities at cheap costs as compared to Western Europe, England, and America. Furthermore, Turkey is a very inexpensive nation to live in, making the notion of purchasing a home in Turkey with the intention of investing and spending vacation time there extremely appealing to many foreign investors. Despite possessing some of the finest historical sites in the world, such as Galata Tower and the gorgeous Bosphorus with amazing restaurants, Istanbul is still a low-cost choice.
Easy Buying Process
When you contemplate investing in real estate, you will examine all factors, including the lengthy and complicated legal processes that may be involved. But, fortunately, Turkey, in particular, is regarded as one of the easiest countries in terms of real estate ownership, because the procedures for owning real estate in it are simple and easy, and do not necessitate the presence of a lawyer; however, you must be fluent in Turkish or have the assistance of a translator to translate all of the legal documents required to complete the transaction. Hiring a lawyer is not a terrible idea in general, but it is not always necessary. Purchasing property in Turkey typically takes three to six weeks.