Villa real estate solutions Istanbul in 2024: The Istanbul Canal Project is a substantial initiative aimed at constructing a new waterway that connects the Sea of Marmara and the Mediterranean Sea within Istanbul, Turkey. This grand project is envisioned to address traffic congestion within the Bosphorus Strait, improving maritime transportation in the region. Objective: The project’s primary objective is to create an alternative waterway to the Bosphorus Strait, thus mitigating traffic congestion and enhancing navigational safety. Proposed Route: The canal is expected to follow a route spanning approximately 45 kilometers, commencing from the town of Çılburnu on the Black Sea and culminating at the town of Durakul on the Sea of Marmara. Dimensions and Capacity: The canal is projected to boast a width of roughly 400 meters and a depth of around 25 meters, facilitating the passage of large vessels. The project incorporates the construction of ports and loading/unloading areas. See additional information at villa for sale in istanbul.
Many real estate investors understand that investing in off-plan properties can achieve the highest capital appreciation, as mentioned above. However, they make a simple but devastating mistake when choosing a location where prices have already significantly appreciated or where resale opportunities are nearly impossible. Regardless of the capital appreciation achieved, investing in a property with an unsuitable location can result in losing most or all of the returns obtained by the investor. Therefore, choosing the right location is the starting point for selecting a sound investment property. Forms of real estate investment have diversified, driven by the failure of some real estate brokerage companies to demonstrate the true beneficial investment to the client. Sometimes, there are offers to invest in land located at the ends of the Istanbul Canal, and the price per square meter of suitable land for construction can reach $200 today. However, this is merely an idea, and it could take 50 years from now to develop these lands when the Istanbul Canal project is completed, or the project could be postponed entirely. If the investor is aware of this point and understands that reselling the land currently is impossible and aims to invest for their descendants, there is no problem. However, from our daily experience, many investors believe that the prices of these lands will multiply fivefold in the coming years!!
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.
A successful investment in real estate is a sensitive and complex process. You should not take it lightly or rely on incomplete experiences of others. Every property in Turkey has an appropriate price, but the lack of sufficient information with the sales representative makes them evaluate projects with incorrect criteria. However, what matters to you as an investor is choosing the property that suits you and your plan. Certainly, there are better projects than others when viewed from this perspective. If you have reached this point in this relatively long article, we would like to thank you on behalf of the Right Home company’s team. We are very interested in conscious investors who are genuinely interested in obtaining accurate information, no matter how much time and effort it takes.
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.”
Turkey’s 2023 vision plan aims to increase the capita per household to that of European countries. Combine this with government incentives, as well as a growing population and the buyers’ market is set to grow even more. The process of buying a house in Turkey even for foreigners is also quicker and easier than that of many other countries, with cheap taxes and reduced costs. Keep the property for five years, and you will be exempt from capital gains tax as well. One strong reason investing in Istanbul real estate is taking off is the mass of new branded housing projects, particularly occurring on the outskirts of the main city centre. Brand new modern homes with modern architecture are being combined with a range of social and community facilities to redefine the concept of neighbourhoods in what is Turkey’s biggest and most populated city.
Istanbul, Turkey travel is one of the top reasons to invest in Turkey. Considerably smaller than the Grand Bazaar, the Spice Bazaar is home to around a hundred shops selling dried fruits, nuts, spices, tea, Turkish Delight, and other goodies. Both are walking distance from Sultanahmet Square. Follow the link for a DIY walking tour of Istanbul’s Bazaars and Rustem Pasha Mosque, a small but beautiful mosque near the Spice Bazaar. You can easily visit the Grand and Spice Bazaars on your own but if you’d like to go on a guided tour, then you can book one through Get Your Guide. Having a guide will be helpful, especially at the Grand bazaar because it’s so big. Follow the link to check out Get Your Guide’s Grand and Spice Bazaar tours.
What is the reason for the failure of real estate investment in Istanbul for some clients? We mentioned at the beginning of the article that the real estate market in Turkey in general and in Istanbul in particular is witnessing a great prosperity, and this prosperity is accompanied by the entry of hundreds of inexperienced real estate consultants who rely on playing with the feelings of the client and misleading him by offering non-investment offers as the best investment in Istanbul (such as buying 6 Apartments at the price of Turkish citizenship, or buying a large commercial store in a remote area, buying an old independent house, or buying agricultural or residential land, so that its price will multiply hundreds of times when the new Istanbul Canal is established).
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 take great pride in being more than just another real estate agency. We aim to develop long-lasting relationships with our clients by offering exceptional services and meeting customer’s utmost satisfaction. In Eminonu neighborhood of Istanbul, near the Topkapi Palace, you can find the complex of The Istanbul Archaeology Museums, one of the most famous Istanbul points of interest. The museum consists of three buildings; each of them houses different theme of collections. The first one is the Museum of the Ancient Orient. This part of the museum displays pre Islamic artifacts obtained during the expansion of the Ottoman Empire. The second part of the museum is the Archaeology Museum. You can see traditional statues and sarcophagi in this part of the museum. The last part of the Istanbul Archeology Museums is the Tiled Pavilion. Mehmet The Conqueror ordered the construction of this pavilion back in 1472.
If your investment goal is in Istanbul, especially if you want to obtain Turkish citizenship (this means you cannot resell your properties for 3 years), here stands the main thing for Right Home’s vision, which is being a real estate investment company in Istanbul, as our role is not limited only to indicating the appropriate projects, but we have a consulting team specialized in studying the market, studying real estate projects and the history of construction companies, in addition to studying the laws of supply and demand in the present, in the past and in the future. Make sure that all of the above is very important when choosing your investment properties because from our daily experiences we notice completely wrong investment choices that some clients make by misleading them by companies starting out in the real estate market or non-consulting real estate brokerage companies, and this is often done by tempting the customer for obtaining cheap real estate or being deluded by the fact that a certain area is an investment area without relying on real criteria in evaluating the investment. See extra info on righthome.com.tr.