5 Reasons to Own Rental Properties in Istanbul, Turkey
Located on the junction of two culturally diverse continents, Turkey is a country with rich heritage and history. While each city in Turkey has its unique charm that attracts people to it, the capital – Istanbul – is hands down one of the most interesting cities in the world.
Whether you look at it culturally, aesthetically, economically, or socially – the city of Istanbul carries an exquisite aura – that originates from the unique blend of the old and the new, the vintage and the contemporary.
In the recent years, Istanbul has also emerged as the leading real estate market across the globe, thanks to its economic progress. And while most people will go about describing all the financial and economic reasons for investing in Istanbul real estate (we’ve done that too!), we thought it might be a great idea to look at the fun side of it.
So, when we think about the 5 reasons to own rental properties in Istanbul, Turkey – here’s what comes to our mind:
> It’s One of the Hottest Tourist Spots
There are no doubts to this fact. Istanbul, Turkey is swarming with tourists during the holiday season. The city is fairly crowded during the off seasons too. The best part about all this? You always have people looking for accommodation – that is, if you choose to rent your property out as a holiday rental.
> You Can Always Use It as a Vacation Home
Whether you choose to rent your property out as a holiday rental or as a normal rental, you can still use it as a holiday home for you and your family! After all, it is your property and you can live in it anytime you want. Now obviously the property wouldn’t be rented out all the time, there will be a certain time period when there are no tenants living in it – use that time wisely!
> There is Something for Every Budget
This is the best thing about Istanbul. It doesn’t matter how big or small a real estate investor is, Istanbul has properties that can fit almost any budget. In addition to that, all these properties are experiencing a collective appraisal in their values every passing year – so it’s a definite win-win!
> The Beachfront Properties Bring In Extra Money
Istanbul has got some of the most gorgeous beaches to offer. Why else do you think tourists from all around the world flock to Istanbul, Turkey? Whether it’s an apartment or a beach home, these properties might cost you more than similar properties in other locations – but if you have the money to afford it – we say go for it! They never go out of demand and people are even willing to pay a higher rent for them.
> You Get to be a Turkish Resident!
Now, who would’ve thought gaining resident status in Turkey would be that simple. All you need to do is acquire a property, register it in your name, and then just apply for a resident status – voila! Can you imagine how great that will be? You can actually live there and create an empire of wealth by the returns you receive on multiple rental properties in Istanbul. You can even settle there if you want to – everyday would be pretty much a holiday then!
Need help in finding the right rental properties in Istanbul, Turkey? Get in touch with us at ALA Property!