Within this article we’ll have a brief glance at the capacity of this Istanbul property market, and also what exactly key market indexes reveal concerning the viability of a buy to let real estate investment, notably from the point of view of the foreign real estate buyer.
The very first thing we’ll consider is that the people and determine whether we could see a real need for an apartment in Istanbul, These amounts stem from the Jan 2008 census:
Population: 12.573.836 at 1st of January 2008 (10.041.477 at 2000), that’s 17.8 percent of their Entire inhabitants of Turkey (70.586.256 by January 2008)
Density: 2.420 people/km2 (26 occasions that of Turkey generally, that can be 9-2 people/km2)
Population growth speed: 3.3 % yearly
What we will need to check at today is if that neighborhood market of buyers may afford to market or buy land in Istanbul. The most significant driver at the Istanbul property market is now leverage. The debut of mortgage services and products that help Turkish dwelling buyers can get on the housing ladder and never needing to cover 100 percent in cash.
We have sufficient raw data to do our maths and then ‘pile’ this bargain to find out whether the financials work that I shall layout below. This illustration relies upon the ordinary rent done, the normal cost per m 2 and also a 50 m 2 apartment. All amounts come in GBP.
In conclusion, also by the advice, we’ve got the Istanbul real estate market works for foreign real estate investors searching to get a buy to let real estate investment. Even though there’s far more to consider consideration, this works in principle and deserves a much closer look.