Turkey is a nation that is witnessing a surge in the real estate business, and this has created a golden opportunity for entrepreneurs and investors who want to expand their financial portfolios. The Turkish real estate industry has witnessed steady growth over the years, and the trend is set to continue with the increasing demand for properties. One of the most profitable business ventures investors can explore in Turkey is buying three-bedroom apartments.
Turkey boasts of a stable and fast-growing economy, which, when combined with the country's thriving real estate industry, makes it an attractive destination for property investors. Turkey's strategic location, being a bridge between Europe and Asia, makes it an ideal place for international business, tourism, and investment. The Turkish government has also implemented several pro-business policies that have attracted foreign investors.
Navigating the Entrance to Another Life
As a result, buying three-bedroom apartments in Turkey is perhaps the most reliable investment option for entrepreneurs. This is because apartments are in high demand, especially in major cities like Istanbul, Ankara, and Izmir. Three-bedroom apartments are particularly attractive to families, making them a wise investment choice for entrepreneurs who want to tap into the growing middle-class market.
Foreign investors are mainly interested in apartments, with 71.3% of all property sales to foreigners being apartments.
Another reason why buying three-bedroom apartments in Turkey is a great business idea is that Turkey's real estate market is still relatively affordable compared to many European countries. The cost of buying an apartment in Turkey is relatively low, making it a profitable investment for entrepreneurs. Additionally, there are many beautiful and affordable properties in Turkey's coastal regions that present entrepreneurs with a chance to invest in the lucrative vacation rental market.
Importance of Making the Right Choice for Investing in Turkey Real Estate
Another reason why buying three-bedroom apartments in Turkey is a great business idea is that Turkey's real estate market is still relatively affordable compared to many European countries. The cost of buying an apartment in Turkey is relatively low, making it a profitable investment for entrepreneurs. Additionally, there are many beautiful and affordable properties in Turkey's coastal regions that present entrepreneurs with a chance to invest in the lucrative vacation rental market.
Advancements in technology have made it easier and less time-consuming for investors to explore the Turkish real estate market. Thanks to online real estate platforms, entrepreneurs can browse and compare listings online, giving them a better idea of the current market trends and prices. This means that entrepreneurs can make informed decisions when buying apartments in Turkey.
In Istanbul, the average price per square meter for a three-bedroom apartment is around 4,600 TRY (approx. USD 607), while in Antalya it is around 3,000 TRY (approx. USD 396).
Furthermore, a recent survey found that 76% of foreign buyers in Turkey see owning a property as a long-term investment, while only 9% view it as a vacation home. It highlights the importance of choosing an apartment that can offer both rental income and potential for appreciation in value over time.
In addition, buyers should also consider the amenities and features of the apartment, such as its size, layout, proximity to transportation, and other conveniences.
Investment in real estate is known to provide high returns on investments. Buying three-bedroom apartments in Turkey and leasing them out can provide a steady stream of passive income, making it an attractive option for investors looking to diversify their investment portfolios.
Choosing the Right Area to Buy Property in Turkey
Accessibility to infrastructure and transport
When looking to buy three-bedroom apartments in Turkey, it's essential to consider the development of the infrastructure and transportation accessibility of the area. According to statistics, Istanbul has an extensive and well-developed transportation system, including a metro, tram, and bus network, with an average commute time of 55 minutes. The city has over 1,800 public schools and 121 universities, making it a hub for education and innovation. On the other hand, Antalya boasts a modern and recently renovated airport and a well-organized bus network that connects the city with its surroundings. The city has over 560 public schools and 24 universities, providing excellent educational opportunities for its residents.
The security of the area
According to statistics, Istanbul has a high crime rate, with an average of 2,000 reported crimes per sq km in 2020. However, the city has a robust police presence, with over 30,000 officers dedicated to maintaining safety and security. Antalya has a significantly lower crime rate, with an average of 600 reported crimes per sq km in 2020. The city has a well-organized public safety system, with over 5,000 police officers patrolling the streets.
The environment
According to statistics, Turkey is among the top five countries in the world for biodiversity, with over 80,000 recorded species of plants and animals. Both Istanbul and Antalya have green spaces and parks, with Istanbul having over 300 parks and Antalya having over 60 parks and gardens.
Featuring a balcony and sea views
When purchasing a three-bedroom apartment in Turkey, it's essential to consider the balcony and sea view. Many people seek out properties with balconies to enjoy the Mediterranean climate and experience outdoor living. In addition, a sea view can be a highly desirable feature, enhancing the overall quality of life and increasing the property's value. It's imperative to note that not all apartments have a sea view or a balcony, and those that do may come at a higher price. However, it's worth considering these features when choosing an apartment in Turkey, as they can enhance your enjoyment and use of the property. Overall, a balcony and sea view can add significant value to a three-bedroom apartment in Turkey, making it an ideal investment opportunity.
Conclusion:
In conclusion, investing in the Turkish real estate business and buying three-bedroom apartments is a profitable venture. The Turkish government's pro-business policies, the growing middle class, and the country's strategic location make it an ideal destination for tourism, investment, and international business. Entrepreneurs and investors looking for long-term and profitable business ventures should consider buying apartments in Turkey.
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