Which cities in Turkiye to invest in 2023?

My answer will not surprise you - of course, Istanbul is a cosmopolitan city with a high level of employment and large tourist flow. There is a high business activity and a constant demand for real estate.

At the moment there is still a shortage of housing in Istanbul and construction companies are successfully using this trend. We should not forget that the demand in Istanbul is more organic than on the Mediterranean coast of Turkey, where the volume of foreign investment has exceeded the critical level of 30%.

It is worth buying real estate in undervalued residential areas at a considerable distance from the city center for long-term projects. Due to the active development of new locations in Istanbul, I recommend taking an apartment including all the infrastructure/utilities from the developer in new development areas. After 5 years, you are guaranteed to receive up to 300% profit.

Due to rising prices in the market, as well as due to restrictions on tourist residence permits, I assume an increase in demand for remote areas of Istanbul and suburbs, where the price is still affordable and suitable for small investors who mainly solve the problem of obtaining a residence permit by investment.

At the moment, several new locations are being developed in Istanbul at once, located at a relative distance from the historical center. Houses are built on free territories, which allows you to carefully plan the entire infrastructure within residential complexes, as well as around them. These are large projects that together form a whole cluster of buildings, including residential and commercial areas. The largest developers are involved in the construction and the infrastructure of the region, roads and transport are provided by the state. Such projects are very attractive to investors, who prefer to invest at the foundation stage, getting an excellent opportunity to profit from rising prices, thanks to the marketing policy pursued by the developer. Small boutique projects, which are located inside already established areas, are less attractive for investment. Keep in mind that due to the limited supply, prices almost double during the construction period.

Another promising area for investment is the acquisition of real estate for passive income, by renting it out. In Istanbul, there are many ways to manage real estate, allowing the investor not to participate in the process. For this purpose, it is possible to purchase apartments in new buildings that offer the Home Office concept and operate under the Rental Guarantee system.