Apartment real estate experts Istanbul, Turkey right now: Situated in the heart of the Galata district, Galata Port Mall enjoys a central location that attracts both locals and tourists. Visitors have the opportunity to explore the nearby historic neighborhoods and discover the multitude of attractions in the vicinity, including the iconic Galata Tower and the renowned Istiklal Street. In summary, Galata Port Mall presents a holistic and enjoyable shopping experience for visitors. It also offers entertainment options and other services, making it a favored destination for both shoppers and those seeking a memorable time in Istanbul. The mall also houses a diverse selection of dining options, including restaurants and cafes that serve a variety of cuisine, both local and international. Visitors can unwind and savor delicious meals or enjoy a cup of coffee within a relaxed and inviting ambiance. Complementing its retail and dining offerings, the mall boasts entertainment areas that encompass a range of activities and events. These include a video game arcade, a family-oriented entertainment center, and a cinema hall, providing a diverse array of recreational experiences for visitors. Read more details on buy apartment in istanbul.
Land with building permits typically has a shorter investment cycle compared to agricultural land (without building permits). Agricultural land in various parts of Istanbul, especially near the Istanbul Canal, is often sold with the unrealistic expectation of generating substantial profits within one or two years. This type of investment usually requires at least 20 years to yield reasonable returns. Full buildings intended for use as hotel apartments should be purchased, invested in, and later sold with the same approach, including furnishing and equipping them. Success in this type of investment is not guaranteed without such comprehensive planning.
Flexibility is required when you come across a property that suits you almost perfectly but is slightly above your budget. Also, if your plan is to sell a property you bought three years ago this year, but the market is suffering from inflation and stagnation this year, selling your property despite that will result in the loss of your profits or a significant portion of them. Thus, the time of stagnation is a time for buying new properties at reduced prices or waiting, and it is never the right time to sell your property.
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.”
Growing neighbourhoods like Kucukcekmece and Beylikduzu offer all the benefits of city life with easy access to shopping, nightlife and transport links. Yet they eliminate all the hustle and bustle by sitting on the outskirts, therefore providing more of a suburban feel than city dwelling. While the shores of the Bosphorus and areas like Sisli still remain the elite of Istanbul real estate markets, neighbourhoods like Esenyurt and Buyukcekmece with these new branded lifestyle projects are enabling the growing middle class to become real estate investors for less than £100,000 for properties in Istanbul, especially now with the current exchange rate between the Turkish lira and dollar that edges everything to a buyers advantage.
Firstly, it is important to define real estate investment correctly to understand its principles. Real estate investment refers to investing a specified capital over a defined period to generate additional returns on the capital invested. Investment can take the form of purchasing a property under construction at a price X and selling it after two or three years at a price of 2X, thus achieving a 100% return on investment over three years, which translates to an annual ROI of 33.4%. Investment can also involve purchasing a ready property and leasing it, either furnished or unfurnished, for a certain period, such as three years, and later selling it at the same or higher price. For example, if we buy a property valued at X and lease it annually with a 7% return, after three years, we can sell the property at the same price we bought it, resulting in an investment return of X1.21, which is a 21% return over three years. Therefore, the annual ROI is 7%. If we manage to sell the property after this period at a higher price than X, it means the annual investment return exceeds 7%, and if we sell it at a price lower than X, it means the annual return is less than 7%. However, if we cannot sell the property after the investment period, regardless of its market value at that time, it would be considered a losing real estate investment (which is the case for at least 60% of property purchases in Istanbul today). To avoid making a losing real estate investment, it is essential to study the principles of investment correctly and apply them with the assistance of a real estate expert.
Istanbul, Turkey travel is one of the top reasons to invest in Turkey. The Galata Tower offers beautiful views of the city. It is located just North of the Golden Horn in the Galata Quarter. We stayed in an apartment looking right up at this tower and it was breathtaking. It is 9 stories high with a restaurant cafe and nightclub. You can take tours up to view the city. There’s a great square at the base of the Galata Tower where you can enjoy some Turkish Coffee and Turkish Delight while people watching on the terrace. Read additional information on 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. The perfect place to witness the trace of emperors in Istanbul is Hagia Sophia. It was built in 537 AD, the impressive building first served as an Orthodox church, but after the Ottoman invasion, it was turned into a mosque in 1453. In the 20th century, the government decided to secularize Hagia Sophia and declare this historic building as a museum. It was first opened on February 1, 1935. The highlight of this Istanbul landmark is the massive dome. With 102 feet in diameter and 184 feet in height, the dome of Hagia Sophia is considered as the marvel of architecture in that timeline.
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.