Why hotel investment so profitable in Turkey
Hotel Investment in Istanbul Turkey: The Hidden Lucrative Opportunities in Turkish Real Estate
Istanbul, the vibrant metropolis bridging Europe and Asia, presents a compelling destination for hotel investment. With its rich history, thriving tourism industry, and favorable investment climate, the advantages of real estate investment in Turkey are evident. Istanbul city has proved itself for the last 20 years as one of the premier tourism destinations for tourist around the world. Here’s why investing in hotels in Istanbul can be a lucrative opportunity:
1. Growth of the Istanbul tourism sector in numbers
The last data from the Turkish Statistical Institute, showed that tourism revenues in the first three months of 2023 reached $8.69 billion.
During the current year, the number of foreign tourists who visited Turkey in February increased by approximately 21.4 percent on an annual basis, reaching 1.87 million visitors, compared to around 538,000 in February 2021.
In 2022, revenues increased by 53.4 percent compared to the previous year, reaching a record level of $46.28 billion as the COVID-19 pandemic receded.
The tourism sector in Turkey had previously recorded a record increase in revenues, reaching $34.5 billion in 2019, before the COVID-19 pandemic.
Despite the economic challenges faced by Turkey, the country’s tourism sector was able to achieve positive results, with over 40 million tourists received in the first nine months of 2022.
2. Strategic Location: Situated at the crossroads of Europe and Asia, Istanbul enjoys a strategic location which offers easy accessibility to a vast market. Türkiye consider as a destination of a hub for business travelers, leisure tourists, and international events. The city’s well-developed transportation infrastructure, including two major international airports, further enhances its appeal as a prime location for hotel investment.
3. Diversification of Investment Portfolio: Investing in hotels in Istanbul allows for diversification of your real estate investment portfolio. As a tangible asset with income-generating potential, hotels offer a unique investment avenue. With the right management and strategic positioning, hotels can provide attractive returns on investment, making them an appealing option for investors seeking diversification and long-term capital appreciation.
4. Economic Growth and Stability: In general, Turkey’s has showed huge growth in Real Estate sector Real estate investment in Turkey, and in Istanbul, specifically, is considered one of the distinguished economic activities on a global level, attracting a significant number of leading energies in recent years.
The British real estate magazine “In the Sun” classified Turkey as one of the top 10 countries for property investment in 2017, while data from the Turkish Statistical Institute indicates that foreigners prefer to purchase properties in Istanbul.
Given the inflation in the number of tourists coming to Turkey and the limited availability of hotel options for them, investing in the construction of a hotel becomes a secure and successful investment with guaranteed profitability.
5. Hotel Investment Types
Build New Hotel
This type of investment necessitates starting from scratch, starting by purchasing suitable land or Re-build ready real estate construction in a strategical area.
Investing in this sector empowers stakeholders to shape the hotel according to their vision, encompassing essential aspects such as design, decor, and spatial configuration. However, it is worth noting that establishing a new hotel may face scrutiny due to the relatively protracted establishment process and additional expenses incurred during its launch.
Buy Ready Hotel in Istanbul Turkey
If investors are seeking a faster profit and save more times, So purchasing a ready hotel would be better option. Hotel investment in İstanbul Turkey guarantee high profitability in Istanbul however there are some investors who is need in a hot money and decide to sell their hotels. This can be a suitable opportunity for long-term vision investor to invest in Turkey. However, one drawback of this investment approach is the limited freedom to customize details, unless the investor is willing to invest additional funds in modifications, such as decor enhancements.
Having a Real Estate expert in Istanbul will help buyer to find the real profitable hotel option for sale very easy.
Invest in Istanbul Hotel Apartment in Istanbul Turkey
Hotel Investment in Istanbul may not be suitable for everyone. Some investors don’t have enough fund to invest in Istanbul hotel. However, there are other option with suitable budget, which is investment flats in İstanbul or Tourist apartments in İstanbul. There are flats in Istanbul in a strategical location and very suitable to rent for tourists in websites like Airbnb. Those type of apartments has high income profit every month and easier to manage.
In order to have the right apartment in a right location in Istanbul, you need to be aware of the real value of the flat and the location. We as Istanbul real estate company provide Property management for investment with free charge from property owner. Our team can give free advice where to find suitable apartment to invest and after purchasing provide free property management services in Istanbul.