Istanbul is one of the first names that come to the minds of everyone who wants to buy real estate or invest in real estate within a developed and modern city that has all the ingredients for its success and distinction.
Did you know that real estate prices in Istanbul are the most attractive feature for investors? For more details and information on this subject, we chose to accompany you through this article to compare prices in Istanbul and the cities of Europe.
We wish you a useful reading.
Take a look at real estate prices between Istanbul and the cities of Europe:
For example, in the Italian city of Venice, the average price per square meter reaches nine thousand euros, while in Athens, Greece, the price per square meter exceeds four thousand US dollars. If you look at the prices in the French capital, Paris, you will find that the price per square meter is 8000 euros, and it may exceed this number. In Madrid, Spain, the price per square meter reached 14,000 euros.
If you look at the prices of some areas in Istanbul, you will find them much cheaper. In its most upscale and modern areas, the price per square meter does not exceed a maximum of 20 thousand Turkish liras. In Sariyer, the price per square meter reaches 15 thousand liras.
Whether we are in Europe or in Istanbul, there is a fixed rule that controls real estate prices, which is the proximity and distance from the city center, the further away from it we get lower prices.
Comparison of real estate in Istanbul and Europe:
If you are a researcher on this topic, in the following paragraph, we will provide you with a comprehensive comparison between what is related to buying real estate in Istanbul and the cities of the European continent.
1 - There is a common characteristic between most European cities and countries, which is their possession of a beautiful and charming nature that attracts both investors and tourists.
2 - Among the reasons that push investors to move to European cities is the possibility of obtaining permanent residence in return for owning a property on its land.
(Because of the crises and wars suffered by many of the countries of the investors, they found an opportunity that must be seized).
3 - Those countries provided a lot of facilities, such as freedom of movement between European countries and cities once you obtain residency, but in this regard, you should know that obtaining residency in some European countries is not an easy matter, as the laws imposed by the government are somewhat difficult.
Did you know that the European Union consists of 27 countries, but despite this large expansion, not all countries, capitals and cities are suitable for real estate investment, and the reason for that is the cold climate that it witnesses throughout the year, and this has been an obstacle for many people and investors, as it is difficult to adapt to it.
As for Istanbul:
1 - One of the first advantages of Istanbul is that it is spread over two continents at the same time (Asia and Europe), and therefore it bears the characteristics of both.
2 - The Turkish government did not hesitate to provide everything that supports the investor's decision to move towards it, such as tax cuts and the real estate appraisal document that controlled real estate prices.
3 - Real estate prices in Istanbul are low compared to prices in similar European cities in terms of importance.
4 - This city hosts many huge strategic projects that have won international fame, such as:
- New Istanbul Airport (considered one of the largest airports in the world).
- New Istanbul Water Canal (It has been given the title of Project of the Age).
- Huge hospitals equipped with the latest technologies, equipment and advanced medical systems, such as (Basaksehir Medical City).
- The most important suspension bridges, tunnels and public transportation lines that make life easier.
5 - It is one of the most important tourist cities in the world due to its richness in luxurious palaces, archaeological museums, castles and towers, and in addition to all that it contains the elements of modern tourism such as malls, game cities and others.
6 - It is very easy to find real estate for sale in Istanbul, because of the increased demand for buying real estate in Istanbul, construction companies went to construct their projects on their land.
7- This city is one of the most densely populated cities.
8 - The Turkish state is generally characterized by a prosperous economy that is superior to many European countries. The reason for this, according to a European study, is the young demographics of the Turkish state, while many European countries suffer from the demographic pyramid.
9 - When buying a property worth two hundred and fifty thousand US dollars, you can apply for Turkish citizenship.
10 - Once a residential property is purchased, a real estate residency can be obtained without imposing any other conditions, neither on the area of the property nor on its value.
What are the main negatives faced by a foreigner in Europe and Istanbul?
In Europe, the investor will find it difficult to obtain residency, as mentioned above.
- Real estate taxes in Europe are very high, and this is one of the biggest obstacles that the investor encounters, while in Turkey, a lot of facilities have been provided to remove them.
- To own a property in Europe, you will need a long time to complete the transaction and procedures, while in Istanbul the matter is not that complicated.
- In both options (Europe and Istanbul), the foreigner will have difficulty adapting to new customs and traditions, and this may be strange, in addition to the language barrier, especially in Istanbul, where the Turkish people adhere to their language and do not prefer to speak other than it.
We have highlighted to you the most prominent and important aspects related to real estate between the cities of Europe and Istanbul, Turkey. We hope that we have answered your questions on this subject. If there are more inquiries, you can contact us directly to provide you with accurate answers.
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