Istanbul Welcomes the Buyers…

Reversal of the downward trend in the Lira seems to have prompted potential buyers that were watching and waiting, to finally take action. This pent-up demand is resulting in purchases in Istanbul and coastal regions.

Istanbul’s foreign buyers may also be influenced by the better travel location. The opening of Istanbul’s new airport, the world’s largest by capacity area, offers a convenient logistical solution for business travelers. Rather than merely a stop-over hub, Istanbul potentially may become preferred living base station for those with business interests in South East Asia, the Gulf, North Africa, Northern Europe, and North America. Singapore is 18 hours flight time from New York- Istanbul is only 10.- a significant difference, particularly in jet-lag recovery time. European destinations and Moscow, are all within 2-3 hours flight, half the time of a journey from Dubai and the Gulf. North Africa, and the Gulf, are 3-4 hours from Istanbul, half the time of a flight from London. Considered from this perspective, Istanbul is better placed as an international business hub, than Dubai, Geneva, Frankfurt, or London.

And now the Citizenship by Investment threshold for property has been reduced to $ 250,000, making it clearly competitive with other nearby locations, the underlying demand is emerging. Extended families of consecutive generations, seeking the purchase of two and three properties, and re-location services, for schooling, business start-up, and medical facilities, have an ample selection of high quality services to choose from.

 

In recent years Istanbul has become known widely for its remarkable local culture in many exotic dimensions, and that reputation will continue to attract interest as a place many aspire to live in, for many years to come. A new Turkish passport, and plentiful nearby flight destinations, are an alluring combination, for investors from many regions of the world.