Studio Apartments in Turkey 2023: pros and cons

Studio Apartments in Turkey 2023: pros & cons

 

Index:

1. What are Studio Apartments?
2. Reasons for Investors to Buy Studios
3. Advantages of Studio Apartments in Turkey
4. Drawbacks of Studios in Turkey
5. Studio Apartments for Investment
6. Short-Term Rental of Studio Apartments
7. Studio Apartments for Turkish Citizenship
8. Best Studio Apartment Projects

 

Istanbul, as a central city and the hub of Turkey's economic, business, and educational activities, has created a demand for a specific type of residential apartments tailored to individual lifestyles.

Many construction companies are focusing on building small-sized apartments, which are among the most sought-after types in the Turkish real estate market.

 

What are Studio Apartments?

 

Studio apartments are a modern type of housing that has become desirable worldwide. The total area of studios in most Istanbul projects ranges from 25m2 to 65m2. A studio combines sleeping and living in one room, featuring a compact bedroom integrated with a living area, seamlessly connected to the kitchen, and often includes a separate bathroom for privacy. It is designed to fit the lifestyle of individual living.

 

Reasons for Investors to Buy Studios

 

 

1. For Students:

These apartments attract students coming to other cities for their university studies. Most students cover their expenses through part-time jobs, securing their living costs. Whether choosing to buy or rent a nearby apartment, studio apartments in Turkey are an optimal choice due to their affordability.

 

2. For Investment:

 

Studio apartments in Istanbul represent an excellent investment opportunity for those interested in real estate in Turkey. Renting them out can bring in significant returns, especially due to the demand from students coming from other cities for study, job seekers, and even frequent travelers, including business owners. On the flip side, Turkey holds an additional advantage over other countries. It ranked eighth globally with approximately 37.6 million tourists in 2017, just after the United Kingdom. In 2019, Turkey welcomed over 31 million tourists, making it a fantastic real estate investment opportunity for short-term rentals.

In recent years, Turkey has become a cultural and health tourism destination. The decreasing value of studio apartments compared to other housing styles makes them suitable for various investors and a good starting point for those with limited capital looking to enter the business world and expand later on.

 

3. For Business Travelers:

For business professionals, studio apartments stand out as the most distinctive choice, thanks to their features that align with their dynamic lifestyles. They often purchase these apartments to have a comfortable space that provides privacy during their travels between cities for managing their businesses. It serves as a secure place that meets their needs, allowing them to spend a few days in a peaceful atmosphere suitable for completing their work and taking a break. This saves them a lot of time that would otherwise be spent on hotel reservations, not to mention the high costs in the long run. This is especially beneficial for frequent travelers who experience work pressure due to their busy schedules with companies and business activities.

 

4. For Offices:

Many investors and business owners now choose to purchase studio apartments to serve as their company's official presence before the Turkish government. This is especially true for businesses that can operate online without the need for a large number of employees.

 

Advantages of Studio Apartments in Turkey

 

Returns from studio apartments are high in the city of Istanbul. The increasing demand for this type of apartment makes resale or renting out easy and quick.

They are suitable for individuals with limited budgets who want to live in cities. While they may work for a small family of couples, they are not suitable for family life with children. For the wife, there will be more time for her favorite activities with the family since she won't spend much time on household chores.

Some studios have multiple wall cabinets, providing plenty of storage space. They are the optimal choice for frequent travelers and suitable for those who spend most of their time at work, returning home only for rest and sleep as an alternative to hotel rooms.

They offer savings in electricity and water expenses compared to larger apartments.

 

Disadvantages of Studios in Turkey

 

 

1. Limited Space: The restricted space in studio apartments may be a drawback for individuals seeking larger living areas or families with children.

2. Privacy Concerns: The open layout of studio apartments may raise privacy concerns, as the sleeping area is often integrated with the living space.

 

Studio Apartments for Investment

 

Investment options vary between buying, selling, and both long and short-term leasing, depending on the investors' ambitions and goals. This diversity adds vitality to the real estate sector, opening up a broad field for competition and profit. Renting out a studio can yield a return of up to 5.2%, especially with long-term leasing. Let's provide a simple example to illustrate how return on investment is calculated, and we'll also explore some of the most profitable investment ideas for you.

 

Short-Term Rental of Studio Apartments

 

 

Guaranteed Rental Returns

Let's assume you've bought a studio apartment for $60,000 and rented it out for $260 per month. The return on investment is calculated by dividing the rental value by the property price (including all other expenses, assuming they are zero in our example) and then multiplying the result by the percentage.

Rental Value: $260 * 12 = $3,120.

Expenses: Property Price = $60,000.

Return on Investment = (Rental Value / Expenses) * 100.

(3120 / 60,000) * 100% = 5.2%.

 

If you're considering buying a studio for rental returns, we recommend paying attention to the following:

1. The city's economic strength is a draw for business owners seeking to establish their companies and conduct business. This is crucial for those seeking a stable place during their travels to manage their businesses.

2.The city's job opportunities and affordable apartment rentals make it a great place for job seekers and those starting their careers.

3. Top universities and educational opportunities create a chance for investing in student rentals during their study years.

4. Population density and the infrastructure the city possesses.

 

Consider trying short-term rentals like a month, week, or even a day instead of the usual year-long lease. It might seem challenging, but owning an apartment in a city like Istanbul, with its tourist attractions, makes it an attractive idea. This investment type assures high rent guarantees and potential returns much higher than long-term leasing, especially with a professional approach.

Monthly returns for tourist rentals can reach up to 28%, given the tourists' preference for this type of property. Start by finding an apartment near popular tourist spots in Turkey to enjoy beautiful views. Furnish it completely and equip it with all the necessary amenities.

With hard work and help from a professional real estate company, you may achieve more than you anticipate from your investment.

This concept has been successfully implemented in Turkey, gaining popularity among tourists of various nationalities. Platforms like Airbnb, renowned for ensuring the safety and cleanliness of homes, along with detailed interior and exterior photos, surrounding markets, and transportation options, have contributed to the success of this investment. Tourists can share their experiences and satisfaction, fostering competition and making it one of the most lucrative financial investments.

 

Studio Apartments for Turkish Citizenship

 

The Turkish government's evaluation system requires the property to have a minimum value of $400,000. Additionally, it's stipulated that the property must be purchased from a Turkish citizen or a Turkish company. Due to the lower cost of purchasing a studio apartment, you can distribute the amount across several studios in different locations. This could present a profitable investment opportunity with high returns on investment.

At Damas Group Real Estate , we offer you a wide range of studio investment options in Turkey that align with your goal of obtaining Turkish citizenship, especially in the most sought-after regions in the country.

 

Best Studio Apartment Projects

Finally, here's a list of the best real estate projects that feature studio apartments suitable for real estate investment.

[Click here to access the most important of these projects.]

 

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Related Articles:

- Real Estate Residency in Turkey, click here...

- Studio Apartments: Features and drawbacks, click here...

- Real Estate Residency for Arab Communities, click here...

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Keys to finding related properties:

- Apartments for sale in Istanbul

- Government-guaranteed properties

- Properties with special installment plans

- Villas for sale in Istanbul

- Properties for sale in Başakşehir

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We, at Damas Group Real Estate, bring you the best property options for sale in Ankara, Turkey in 2023. We're here to help you seize the best investment opportunities in major construction projects and residential complexes at competitive prices.

Our services include providing all kinds of legal and real estate consultations, obtaining property deeds, and assisting you in acquiring Turkish property residency and citizenship, along with other post-sale services.

Feel free to reach out to us to learn more!