Why in Istanbul, Resells Present a Better Opportunity Than New Projects

A fascinating trend becomes apparent when you delve deeper into the Istanbul real estate market. This dynamic city's attraction for new projects has recently lost some of its lustre. More shrewd investors understand that resale properties present a fantastic opportunity, particularly in light of the rapidly rising costs of new construction. We'll discuss why buying resale homes in Istanbul could be your best real estate investment in this blog post.

Significantly Reduced Costs

First and foremost, there is no lie in the numbers. In Istanbul, the cost of new projects is much higher than that of resale units. It's similar to finding out when purchasing a new car that a slightly worn-out, slightly older model is far more affordable. Look at apartments in Istanbul; you'll notice that resell units have attractive price points, especially in popular areas like Gokturk, Kemerburgaz, and Beylikduzu.

Quick Payback on Investment

There is often a waiting period associated with new projects. Several factors, including the construction phase and approval processes, may cause delays in realising a return on investment. Instant occupancy or rental income is possible with resale properties, particularly in well-established neighbourhoods like Kadikoy, Besiktas, and Sarriyer, which provide a quicker return on investment.

Developed Communities

Modern amenities are a common feature of new projects, but they are usually located in developing areas where the community and infrastructure are still in their infancy. Choosing resale apartments in Istanbul indicates that the neighbourhood is developed. Places like Besiktas and Kadikoy are well known for their well-established amenities, diverse range of cultures, and lively sense of community.

Turkish Nationality through Investment

One important feature that appeals to a lot of overseas investors is the Turkish Citizenship by Investment initiative. Purchasing Istanbul real estate for sale can be your first step towards obtaining Turkish citizenship, and selling real estate makes this route even more cost-effective. If you make sure you invest the necessary amount in places like Gokturk or Kemerburgaz, you can easily complete the citizenship process.

Greater Leeway for Discussion

New project developers frequently have set prices that are hard to haggle over. On the other hand, private sellers in Istanbul may be more willing to negotiate and offer you a better price, particularly in neighbourhoods like Beylikduzu and Sarriyer.

A Touch of History with Contemporary Amenities

Istanbul is a city where the past and present coexist. Certain resell properties have a certain historical charm that cannot be duplicated in new construction. Purchasing one of these residences offers the modern conveniences of life combined with the historical charm of neighbourhoods that are rich in culture.

Conclusion

Even though brand-new developments are appealing, resell properties in Istanbul are a compelling option given the state of the market. There are many advantages to choosing to resell apartments in Istanbul, including the ability to use them for personal use, earn rental income, or obtain Turkish citizenship through investment. Take these insights into account when you plan your next move in Istanbul's real estate market and choose a course of action that offers growth potential and value.