Is investment in Istanbul high-risk?
In this article, we are going to shed light on investment in Istanbul, and why to invest in it.
The investment in Istanbul is a window that looks forward to a broad future. Many investors have done several investments in Istanbul. They have achieved high profits and their business has doubled in Turkey many times. This has led to the emergence of new great investors from Turkey and into international fields.
The Centre of real estate business:
Istanbul’s population is one of the fastest-growing in the world. This growth in affluence brings more people with more money demanding better quality housing to buy or rent in the city.
Thus, Istanbul is the center of the real estate business in Turkey, which is the major recipient of FDI, the highest for net migration.
However, Istanbul has the highest rents and the highest prices in Turkey.
With Istanbul’s rising population and strong economic growth, I already know residential demand in Istanbul to be high. For Turkey’s young workforce and single people’s migration to Istanbul, apartments are seeing strong rental demand, making them a favourite for investors. Demand for quality rented property in Istanbul is outstripping supply faster than developers can build. Because of the rapid growth of the city where 400.000 new inhabitants arrive each year, the existing housing stock has reached capacity.
Attractive for tourists and investors:
In fact, Turkey attracted a record number of visitors with 51.9 million people in 2019, according to official data.
Turkish Statistical Institute (TÜİK) on Jan. 31 announced that the country welcomed 51.9 million visitors last year, a rise of 13.7 percent from the previous year.
TÜİK data showed that 86.2 percent of visitors were foreigners and the remaining 13.8 percent were Turkish citizens living overseas.
The Culture and Tourism Ministry also announced that foreigner visits to Turkey surged 14.1 percent annually, surpassing 45 million last year.
Istanbul, the country’s world-famous touristic city, was the top arriving destination with nearly 15 million tourists, accounting for 33 percent of all foreign visitors in 2019.
Istanbul is Turkey’s second-largest international gateway, after Antalya, receiving a quarter of the nation’s foreign tourists. Besides, Istanbul’s tourist industry is concentrated in the European side, with 90 percent of the city’s hotels on this side. The most visited museums are the Topkapı Palace Museum and the Hagia Sophia, which has been changed into a mosque.