Why and How to Invest in Istanbul?
Located within Asia and Europe, Istanbul is Turkey’s economic center of gravity with exceptional strengths and a global opportunity. The city is energized, still young, moving, and ambitious because of its location and history. Istanbul is amongst the most populated cities in the world with its more than 16 million population, while being the most populated city in the region. More than 40 thousand global companies operate in the city. Corporations choose Istanbul as an investment destination since it has a supportive, stable, and, most importantly, competitive environment.
Istanbul leads the top European cities in the young population surveys as the average age is still in the early 30s. More than %71 percent of the population is still in the labor pool. At the same time, the city also is home to more than 350 vocational schools. This fact allows the city to stay competitive and active among other major cities with well-qualified workers.
The ancient world came before, helped the city to grow economically, and international relations have allowed Istanbul to become a global meeting point. As the city is located both in Asia and Europe, Istanbul is the one spot for all to gather or travel around the globe. Sea routes from and to Black Sea countries still have to pass through Bosphorus located in the city, making Istanbul a must-stop destination for all traders.
Real estate is the most valuable sector that keeps the economy well and stabilized because Turkey is a fairly large land with a huge population who would love to buy a house one day. That population just keeps on growing with every year as they live under the perfect climate and continue to dream of owning their homes one day.
In addition to locals, foreigners are also highly interested in buying properties in Turkey because of high investment returns and they do not have to wait for a residence permit to own a property with a citizenship grant for purchases more than 250.000 US dollars.
Health is one of the most influential sectors in the world that always requires the utmost attention and experience. Turkey, especially Istanbul, has revolutionized its healthcare system in the past 15 years and still offers amazing incentives to national or foreign investors because of its growing population.
Istanbul is not just a must-stop destination for 14 million annual tourists for its culture and lifestyle. Many of them also travel here to receive treatments from private hospitals, sometimes seven times more affordable than anywhere around the globe. Istanbul’s medical roots offer 300 hospitals with 37 thousand beds and top-of-their fields doctors with a competitive price range.
Since the European Side of Istanbul is a big center you would not worry about health care. There are hundreds of Health Centers and hospitals in the region.
If you do end up investing in property more than $250.000 USD and earn your Turkish citizenship, you will get to benefit from the Universal Health Care System in the whole country. If you do wish to pay for the privacy and comfort of private hospitals, Istanbul is known for its quality.
The stock market can be a risky investment option in Turkey if you are not familiar with Turkey’s dynamics and businesses in comparison to real estate or tourism sectors. The stock market often fluctuates but it is possible to have amazing short term investment returns in Turkey’s stock market if you know what you are doing.
Istanbul Finance Center, rising in Ataşehir district is aimed at developing the conditions to rank Istanbul among the leading financial centers.
Over the past decade, Turkey has let go of the familiar boom and economic curtain. It was an exterior wherein a low-interest rate and competitive environment, banks could develop plenty of methods to tempt investors, both local and foreign. The financial services industry employs around 87 thousand people in Istanbul. This workforce is highly educated, as well as loyal, with a relatively low resign rate due to Istanbul’s quality of life. A flourishing, distinct in many ways economy and a positive tax environment make Istanbul’s investment industry highly competitive.
IT and Technology
The IT and technology sector has been steadily growing in Turkey with many bright programmers and entrepreneurs. It can be a smart choice to invest in a tech-startup company in Turkey since the tech users are growing every day with a very young population in comparison to western countries. Every new day, there is a new company to cater the needs of 16 million people, then that moves on to reach the global population.
Due to the rapid increase in the urban population, the physical growth experienced has made real estate the most profitable investment tool, especially in the metropolises. The housing sector is entering the most active period of the year in April-May. In current years, the fast-growing construction area, various housing options, mass housing, and branded projects, where various social opportunities are offered together, offer citizens a wealth of alternatives. Real estate investments are always more profitable than other investment tools. However, citizens who do not act consciously may face some risks.
The process of investing is not easy and it comes with all sorts of problems. A mistake made in any of these steps could lead to much bigger problems in the long run. Another problem may occur due to the property itself. It may sound good and you may not see any problems with the property itself, however, there could be things the owner is hiding from you that you will only realize after buying the property. Therefore, be careful with each step you take and always be suspicious of the offers that are too good to be true. It is better to stay on the safe side. Try not to go for a bad agency just because it is cheap, or do not go with a translator who is not a professional in the field due to the prices. Make sure to choose trustworthy agents and professional lawyers and translators who will make everything much easier for you. As Istanbul Investments, we have a portfolio of 20 years helping the foreigners on their process to buy real estate in Istanbul, as well as many other cities of Turkey.