Top villa real estate solutions Turkey: The Third Bosphorus Bridge, also known as the Yavuz Sultan Selim Bridge, is an imposing structure that spans the Bosphorus Strait within Istanbul, Turkey. Officially inaugurated in August 2016, this bridge is part of the broader Northern Marmara Motorway Project, designed to enhance and expand the transportation infrastructure in the region. Istanbul’s Third Bridge stretches along the Bosphorus, connecting the city’s European and Asian sectors. This bridge stands out due to its contemporary and substantial design, featuring a total length of approximately 2.2 kilometers. Comprising two lanes for traffic in both directions, the bridge is equipped with advanced traffic control systems, underscoring its position as an outstanding engineering achievement that mirrors the technological advancements in civil engineering. Find more information at Villas for sale in Turkey.
Even though Istanbul has always been one of the major cities of the world, both historically and in modern times, it is still an infant of the globe’s real estate market. Neglected for many years because of a dismal economy, lack of financing and credit, as well as substandard urban infrastructure, it wasn’t until the turn of the century that the government started to modernise the real estate market of Turkey to bring it inline with other destinations of the world. The result is that buyers are cashing in while it is still young and overall, property anywhere in Turkey has enormous potential when it comes to capital growth. According to the stat crunching portal Numbeo, prices per square meter in London range from 677% to 862% higher than Istanbul.
Turkey tourism is one of the top reasons to invest in Turkey. Compared to other attractions, Chora Church is out of the way but it’s worth the effort. A small Byzantine church converted to a mosque before being turned into a museum, it’s home to what many call the most stunning mosaics in Istanbul. Check out my post on Chora Church (Kariye Museum) in Istanbul for more pictures and information. Turkish cuisine is interesting. It’s colorful and nuanced and seems as diverse as the country’s landscape. Enjoy one meal at Ciya Sofrasi and you’ll see what I mean. We did all our own food research but in hindsight, I would have loved to go on a food tour. I think Turkish cuisine is best appreciated (and understood) with the guidance of a knowledgeable local. Culinary Backstreets can help you with that.
Supply is high and demand is low – Yes, demand has decreased due to inflation problems and high interest rates, as real estate loans, even to the local population, are not as attractive as they were before, and this, in fact, happened in all countries of the world, not only in Turkey. But the important question is what about the show? Are there a lot of real estate offered in the market similar to the real estate you want to buy or sell? Competing real estate is not the real estate in the same residential complex as you, but in the whole area that offers the same advantages as your real estate. Here, you should pay attention to two points: If you own a property and want to sell it, make sure that this time is not suitable if your property is in areas with many projects such as Basaksehir, Basin Express, or some areas of Bahcesehir, Beylikduzu and Esenyurt, and if you wait for the market boom period again, you will certainly be able to collect a higher price at least 30%. If you want to buy a resale property in an area with high competition, it must be at least 30% cheaper than the price of new real estate in similar projects, because you are now buying at a suitable time, and also because you bear the risk of owning an unwanted property. See even more information at righthome.com.tr.
Our goal in presenting these statistics is to clarify that the number of properties sold in Turkey, of which Turkish citizens constitute 97%, while the share of foreigners is only 3%, as shown in the figure below for the number of properties sold to foreigners in Turkey (compared during March 2021). From this we conclude that the vast majority of real estate was sold in the local market, and this clearly means that the Turkish real estate market is a profitable investment market, otherwise there would not have been an increased demand for new real estate purchases, especially under construction by Turkish citizens (who do not seek citizenship but a net investment 100%).
Right Home is a leading company specializing in real estate consultancy and brokerage. We help buyers to buy and sellers to sell. We provide luxury apartments, smart homes, elegantly designed offices, modern constructions and all consultancy services. Our head office located in Istanbul, Turkey. We are dedicated to giving you the very best experience finding the Right Home! We have a team of real estate consultants, who are available for you for any needs that might arise. For a closer look at the glory of the Ottoman Empire, you should go to Topkapi Palace during your trip to Istanbul. Topkapi Palace was built in the 15th century. Mehmed the Conqueror ordered the construction of the palace in 1459. At first, the palace was named Yeni Saray, or the New Palace. Before this palace, the Sultan used to live in the Old Palace in Beyazit Square. The name was changed to Topkapi Palace in the 19th century. Topkapi means canon gate. After the fall of the Ottoman Empire in 1923, Topkapi Palace was turned into a museum in 1924. The palace, occupying a vast area of around 592,600 to 700,000 m2, has hundreds of rooms and chambers, but not all of these rooms are accessible for tourists. Only some of the most important ones are open to the public.
Properties located away from the city center, such as Istanbul suburbs, typically have longer investment cycles (at least five years) before significant improvements in infrastructure and increased demand are noticed. The duration varies depending on the exact location and demand, both in the near (5 years) and distant (over 10 years) future. Anticipate the future of the area, the progress it will undergo, and the supply and demand dynamics at the time you intend to complete your investment plan. Do not judge the suitability of a property’s location solely by the name of the area it’s in. For example, many properties in Istanbul’s city center, like Sisli and Besiktas, are not suitable for investment regardless of their prices. At the same time, highly successful investment properties can be found in Istanbul’s suburbs, which are often overlooked for potential investment opportunities.
Here the distinction of Right Home is highlighted, where our team directly accesses the owner of the property and negotiates with him to obtain the best price for the customer, and it is common knowledge in the process of reselling real estate that the buyer pays a commission to the marketing company as does the original property owner as well, but here in Right Home we get the possible lowest price from the property owner and we do not take any commission from the buyer. This is for new properties that are sold for the first time, but what about properties resold directly from their owners? Thus, dealing with our company will be profitable for the client in all cases, and he will receive all of our services completely free of charge.
Many beginners in real estate investing in Turkey are looking for quick profit, which makes them rush in their decisions and they often end up in loss. The real estate sector is one of the most growing sectors in Turkey which provides all investors with a good investment return, but the key to success in this sector is time. Investor’s efforts must first be based on understanding the market and then choosing the best property in terms of region and quality. Then wait, as one real estate investment expert says. “Real estate investors are the only ones who make money while they are asleep.”
Make sure that you have chosen the right company, not just the right consultant, for the following advice during this stage. Tips for after purchasing the property: If you have done everything correctly, you will generally be happy at this stage and should not encounter any problems in the present or future. After-sales services are not limited to empty promises made by the sales representative during the contract signing but serve as a complete reference to the company’s operations and its past performance. Additionally, the actual duration of the company’s presence in the real estate market is significant. The continuity of a real estate brokerage company for more than five years is a clear indication that it is capable of handling post-sale processes.