I love Istanbul. It’s a dynamic city of 15 million, is extremely well-connected, gorgeous and fun.
Local real estate also happens to offer great value for such a huge, international city.
I bought an apartment right in the center of the European side of Istanbul and am in the process of renovating it. In this video I share how much I paid for it, the renovation costs, and how much I would expect to make in terms of net rental yields if I were to rent it out. Prices are up about 10% in USD terms since I bought the apartment, but still offer very decent value.
A few months ago I wrote an overview of the Istanbul real estate investment market (here).
Also, as I keep repeating, Turkey offers one of the most interesting citizenship-by-investment programmes; invest $400,000 in Turkish real estate and obtain Turkish citizenship for yourself, your spouse, and your children under the age of 18. It recently went up from $250,000 but is still an amazing deal.
However, yes, Turkey is facing currency issues and the economy is going through a rough patch. People who invest in Turkey must understand the risks and have a long term outlook.
You can watch the video here.
If you are interested in buying real estate in Turkey or obtaining Turkish citizenship through investment, do get in touch with my Canadian buyer’s agent Keith (here). He is fluent in Turkish and will help you navigate the local market without getting played.
Expect to see some content on Izmir, Turkey’s third largest city, in the coming weeks.
I’m now in Mexico and will be around for a few months, mostly on the Riviera Maya. Feel free to reach out if you’re in town. I am occasionally seen with an ice cold Corona in the early evenings after a nice swim.
To a World of Opportunities,
The Wandering Investor
Services in Turkey:
Other articles on Turkey:
- Making a real estate investment in Izmir? A value play within Turkey
- People received a free citizenship AND made money – This is how
- Making a Real Estate Investment in Istanbul, Turkey – Overview and what to watch out for
- Citizenship by Investment in Turkey – Timelines, fees, and traps to avoid
- Don’t fall for this Real Estate and Citizenship trap in Turkey
- Investing in a city of 15 million, with decent yields – and get a free passport
- One of the world’s easiest second residency programmes -Turkey
- Are all new buildings in Istanbul a bad investment? Istanbul Real Estate December ’21 update