Many well-off international property buyers wishing to profit from their real estate investment and get citizenship by investment in Turkey have eyes for Istanbul properties. If that’s your case, you should pay heed to the worthy and highly comfortable Alize Kapadokya residences in a high-riser being built close to the new Istanbul financial center.
The causes and consequences of the 2008 financial crisis lie in real estate issues. Granting risk mortgages to borrowers is typical of western financial institutions. The economic bubble has successfully burst, draining the starch out of money management organizations and destroying ordinary people’s savings.
The world economy rebounded, but by far not all investors and state institutions managed to learn their lesson. A number of countries still grant high-risk mortgages to borrowers, and a new bubble may appear on the real estate market.
Turkey does not belong to the said states. The country’s government effectively manages its banking sector and prevents any crisis from forming. The local real estate market successfully raises capital, and foreign investors are flocking to the country. The citizenship by investment program implemented by the government of Turkey further strengthens this trend.
Out of all Turkish cities, Istanbul enjoys the highest popularity with foreign real estate investors. It boasts a unique combination of ancient traditions and modern consumer opportunities. The Istanbul International Finance Center or IIFC under construction now will accelerate the local financial sector development and further increase the city’s investment appeal.
The International Wealth readers and subscribers enjoy a unique opportunity to purchase properties in the Istanbul Alize Kapadokya high-riser close to IIFC and get their second citizenship and a second passport in Turkey. The asset’s unique location guarantees that your Istanbul real estate will steadily go up in value and earn you a high rental income.
Istanbul Alize Kapadokya real estate in detail and citizenship by investment in Turkey
Real estate investors pouring cash in the Alize Kapadokya residential complex may apply for citizenship by investment in Turkey. All they need to do is purchase suitably priced properties. A successful applicant shall have a clean criminal record. They will also submit proof of their assets and funds legal origin to the local authorities.
Both families and singles have the right to apply for citizenship by investment in Turkey.
The RemYapı development company is in charge of the Alize Kapadokya real estate project. The developer boasts an excellent reputation on the construction market. The building land area under the project makes up 6,000 square meters. After the Alize Kapadokya residential complex has been commissioned, its total usable area will amount to 17,000 square meters.
- central heating
- 24/7/365 security
- passenger elevator and service elevator
- heat insulation
- parking lot
- well-developed Internet infrastructure (ADSL);
- back-up power supply generator
- high-quality noise insulation.
The project provides for the construction of just one high-riser, 21 floors high. It will house 180 apartments (1 + 1, 2 + 1, and 3 + 1). Two floors of 80.49 square meters and 161 square meters will be taken by just offices.
Apartment owners will enjoy a 24/7 front desk and technical maintenance, a health and fitness center, coffee shops and restaurants, outdoor and indoor recreation areas, meeting halls, and a conference room.
The Alize Kapadokya residential complex boasts excellent location. The high-riser will sit in the Istanbul Ümraniye district, on the Anatolian side of Istanbul (Asian part). The Istanbul Sabiha Gökçen International Airport, the 15 July Martyrs Bridge, the Fatih Sultan Bridge, and the Avrasya Tunnel are all within a 20-minute drive from the project site. It takes only 5 mins to reach the Ülker sports and exhibition center, the Metropol Istanbul, Palladium, and Water Garden shopping centers by car. The Nezahat Gökyiğit botanical gardens are 2 mins away.
The project boasts easy access to the city’s well-developed public transportation system. The M5 Üsküdar ekmeköy Çarşı, the M4 Kadıköy Tavşantepe, the Yenisahra, the Göztepe, and the Halkalı Gebze Marmaray subway stations are just a step away.
Real estate prices in the Istanbul Alize Kapadokya residential project
Apartments offered to foreign property investors intending to get their citizenship by investment in Turkey in the Istanbul Alize Kapadokya real estate project fall within the price range below.
|Apartment type 1+1||Apartment type 2+1||Apartment type 3+1||Office floors (a complete floor)|
|80 square meters – 93 square meters||129 square meters – 148 square meters||161 square meters||690 square meters – 892 square meters|
|₺1,430,000 – ₺2,595,000||₺3,360,000 – ₺4,230,000||₺4,105,000||₺23,743,000 – ₺38,106,000|
Buyers paying for their properties in a single payment will enjoy hefty discounts. You may also pay for your new apartment by equal installments within 12 months.
|1st option||Full one-time payment (with a 10% discount)|
|2nd option||Payment by installments: 50% down payment, with the remaining amount to be paid by equal installments within 12 months|
The above prices do not include VAT and ownership re-registration commissions. The developer reserves the right to update and/or amend the price list where necessary.
Purchase Istanbul real estate and watch the city turning into one of the most important global financial centers
As previously mentioned, the Alize Kapadokya high-riser sits right next to the Istanbul International Finance Center. The latter will help the city turn into a major global financial hub.
The IIFC complex will become an important business district servicing multiple banks, public institutions, multinational firms, as well as service companies.
The project’s built-up area amounts to approximately 1,000,000 square meters. The Istanbul International Finance Center will encompass numerous office premises, shops, residential buildings, hotels, a conference center seating 2000 delegates, mosques, car parks, schools, and other amenities. With its huge total area of 723,000 square meters, the project will take your breath away. It occupies 70 hectares, and the resident population makes up approximately 30,000. Around 100,000 experts are expected to be employed by IIFC.
The new district will link the city’s key banking institutions. IIFC will house the Central Bank of Turkey Representative Office, the Ziraat Bankası Bank Office, the Istanbul Stock Exchange (Borsa Istanbul), the Banking Regulation and Supervision Agency (BDDK), the Capital Markets Board (SPK), as well as offices of Halkbank, Vakıfbank, and Türkiye İş Bankası.
After the IIFC project has been successfully commissioned, the surrounding district will become a magnet for not just Turkish investors, but also representatives of international financial and business circles.
Istanbul and Turkey Real Estate Market Overview
According to the report prepared by the Bahcesehir University Center for Economic and Social Research (Bahçeşehir Üniversitesi Ekonomik ve Toplumsal Araştırmalar Merkezi; BETAM), Turkish sale and rental property markets experienced a recovery in early spring 2021.
According to the March data, the average price per square meter (in TRY in this article) and the number of properties sold have grown, as well as the quantity of rented apartments and cottages. The rents went up accordingly.
Asking residential property prices in Istanbul stayed below CPI
The average asking price per square meter in Turkey has grown by 35.4% YoY, amounting to TRY 3,695. With Istanbul real estate, the figure has increased by 29.4% and made up TRY 4,938. Offer prices have increased by 36.3% and 35.9% in Ankara and Izmir, amounting to TRY 2,560 and TRY 4,433 accordingly.
In Istanbul, the asking price increase rate remained below CPI, while in Ankara – a bit above it. Izmir asking prices remained in line with CPI. Nationwide, the number of sale ads and offers has grown by 12.8% YoY. The quantity of assets actually sold increased by 43.1% at the same time.
The average published price per square meter of assets for sale in the economy segment has increased to TRY 2,015 and to TRY 11,038 in the luxury segment.
Apart from a much higher number of property sale ads and offers both nationwide and in 3 major cities in March, shorter deal closing periods (by 5 days on average) YoY were indicative of increased activity on the market.
Asking price growth in metropolises
In March 2021, asking price growth YoY was characteristic of all Turkish metropolises. Mardin (65.1%), Aydin (61.7%), Diyarbakır (55.6%), Şanlıurfa (53.4%), and Antalya (49.1%) were among the provinces with the fastest asking price growth rate per square meter. The lowest price growth rates were observed in Istanbul (29.4%), Kocaeli (29.2%), Erzurum (28.9%), Van (27.1%), and Trabzon (25.3%).
Increased number of rented properties in 3 major cities of Turkey
In March 2021, the rented property market in Turkey remained buoyant. Both rents per square meter and the number of rented real estate have grown YoY.
In March, the average rent growth rate per square meter in Turkey made up 21% YoY. The average rent per square meter increased from TRY 14 in March 2020 to TRY 17 in March 2021. In case of Istanbul, the price growth rate amounted to 25.9%. In Ankara and Izmir, the annual growth made up 10.8% and 18.5%, accordingly.
The average asking rent per square meter of Istanbul residential properties was TRY 23.8. In case of Ankara and Izmir, it made up TRY 12 and TRY 17.8, accordingly.
The rented property to the total number of rental ads ratio grew significantly in March. This occurred both nationwide in Turkey and in its 3 largest cities. Such growth is also a marker of market recovery.
Expert support for investors purchasing properties in the Istanbul Alize Kapadokya apartment complex
With its long experience in the investment immigration sector, International Wealth is ready to assist our well-off customers, readers, and subscribers with purchasing Istanbul real estate and applying for citizenship by investment in Turkey.
The International Wealth experts will not only arrange for purchasing the right properties, but also help you with collecting the necessary documents and applying for citizenship by investment in Turkey. Besides, we offer support with leasing out your newly-purchased real estate if you feel like it.
You are welcome to contact the highly experienced International Wealth team to book your customized consultation as to citizenship by investment in Turkey, or to receive any other information you may be interested in.
Why is it better to use the International Wealth services when applying for citizenship by investment in Turkey?
The International Wealth customers are entitled to professional consultations and assistance on every step of their way, from start to finish. Our highly qualified experts will assist you with getting your tax identification number (Vergi Kimlik Numarası) and opening a bank account in Turkey. They may also help with a property assessment report analysis, real estate sale and purchase agreement making and execution, and lots of other important procedures.
Do I need to visit Turkey after I apply for citizenship by investment in the country?
You do. A minimum of one visit is required to prepare and submit your residence permit application in Turkey.
What benefits does citizenship by investment in Turkey offer?
Successful applicants get the right to permanently reside and work in Turkey. Newly-minted citizens get unlimited investment opportunities in Turkey. Holders of Turkish passports enjoy the right to enter multiple countries on a visa-free basis and get the popular E2 business visa to the US (that is not available to citizens of many other states).