What Are the 2017 Istanbul Real Estate Market Expectations?
Many people who own a property in Istanbul or want to sell their properties may have doubts about the recent developments in the real estate market in Istanbul, Turkey. Is the year 2017 going to be a good time or a bad time for Turkish Real Estate Market?
The Scenarios for Real Estate Market in Turkey
Turkey has recently gone through a number of turbulent times that may put brokers, real estate agents and owners into doubt about the real estate scenarios of Turkey. Though there have been a number of ups and downs, the real estate markets in Turkey continue to stand firm and straight, and a lot of people from all over the world shows a keen interest in Turkish properties.
The Arabic people are known to show a vivid interest in Istanbul real estate projects. Other than Arabs, Chinese and Russian people stand as demanding for Istanbul properties. Despite of some political disagreements among countries, Turkey’s relations are back to normal with Asians, Germans, British and USA also show a keen interest in Turkish properties, and they have also invested a large amount of money in them.
What Makes Properties in Turkey Special?
Turkish culture is known to be a peaceful and relaxed one with the beautiful beaches with golden sands, the rich culture that is endowed with knowledge and tradition and the friendly population. Istanbul is known to be centrally located in Europe and is also not affected by any economic staggers in Europe. The Istanbul real estate market has performed well in the last few years and the prices of homes has doubled in the last five years and has also risen by 18% in 2015 followed by the same margin in 2016. So what will 2017 show for the Istanbul real estate market?
Investors might be dominated by political uncertainty towards Istanbul
France, UK, and Germany are known to account for around 70% of property investment. Though political unrest have reduced their shares in the property, Istanbul remains to be a constant and a feasible investment option with a growth rate of 4%, which is predicted till the year 2020. Middle East investors are also relocating to Istanbul and investing in new projects and lifestyle apartments. A lot of people are purchasing properties in Istanbul, and the number is gradually rising by 8-9% every year. This shows that the real estate markets are expected to grow up in the year 2017 in Istanbul.