Investing In Istanbul, Turkey
This is the first city I have fallen head over heels for, but I have yet to actually visit. Admittedly, I did not know much about Turkey except for what I saw in the news, but this did not do much for my desire to visit. However, a few years back, I met a guy in Colombia who is from Turkey, but he was living in Medellin for several months. He told me where he was from, and I immediately questioned the safety with all that had been in the media. He had such passion and enthusiasm, which made me become more curious, but then he an online video for me so I could physically see exactly what he was talking about. This video completely blew my mind. I mean the city was so beautiful that I knew I was missing out on something really amazing.
Sadly, the only thing I had heard about Turkey prior to this point was about the terrorist attacks they had experienced around that time. Brimming with intrigue, I made a plan to go visit him the following year along with another friend we had met in Colombia, but that trip fell through as they always do when your plans involve other people. Since that time, I have been overrun with beautiful pictures from Turkey, and it is at the top of my travel list.
Istanbul is one of the most places in the world with its colorful covered markets, beautiful mosques and palatial museums. It straddles both Asia and Europe, bringing together cultures and people from all over the world. Receiving over 39 million tourists for year, Turkey has been named favorite vacation spot. Strong tourism always makes for a great investment opportunity.
In addition to strong tourism, buying property is now quicker and easier than ever thanks to the new amendments to purchase laws and regulations. Another bonus is the fact that real estate prices in Turkey rise by an average of 18% per year! According to the Reiden Real Estate Corporation, real estate prices in Istanbul increased by 7%,- 41% in the last three years and 106% in the last five years. The estimated return on investment in Istanbul real estate is 7% -12%.
These beautiful cities are my top picks for investing. You see, investing is about more than just spending money, an investment of your time and passion is also necessary. If you are not passionate about a place, it will be very difficult to spend the amount of time in that city necessary to maximize your investments. These may not be your top four, but do a little research into the cities you love and look for great ways to invest there. This is how we build wealth for ourselves by finding a way to make loads of money in our sleep.
- Great value for money
- Wonderful climate
- Cheap cost of living
- Easy access to the city and world
- Full ownership of property
- Amazing cuisine