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Maslak District. The Success Story of Turkish Real Estate Market.

The story of the Maslak district can be related to that of a mythological bird known as the ‘Phoenix’ such that it has been reborn from its own ashes and become one of the highlights of the Turkish Real Estate Market. What was once known as a car cemetery is now home to Turkey’s tallest and first-ever all-glass-and-steel skyscraper known as the Diamond of Istanbul. Although the said building is still under construction, it has caused a real estate development frenzy as of late owing to the fact that numerous local as well as foreign real estate buyers to flock to one of the largest emerging business hubs in the country. Following are a few fascinating facts about the Maslak district that prompts the buyers to invest in the area:

  • The History – Maslak district used to be a ghost town not too long ago. The word Maslak is a Turkish term for ‘Water Tank’, as it used to collect water in small pools from the streams headed towards the city from the Buyukdere River. These pools were the sources of water for the surrounding, more densely populated districts, hence the name Maslak was coined for the area.
  • The Tourist Attractions – Maslak district is home to a large number of historic avenues that serve as a testimony of the rich Turkish culture. From the lush green forests of the olden days to the numerous historic sites from the 19th Century Ottoman Empire such as the Ottoman Pavillion, the museum complex, the Cidar Mansion and the Pasha Quarters, just to name a few, the Maslak district is rich with the essence of Turkish culture and an ideal location for foreigners who wish to invest in Turkish Real Estate Market .
  • The Recent Development – With a large number of skyscrapers already having been built and more under construction, and an even larger number of businesses, both local and international, setting up their operations in the area, Maslak real estate market is slowly be surely becoming one of the hottest avenues for investment in the Turkish Real Estate Market. Couple that with the large shopping malls, recreational avenues and the likely rise in value once the area catches full traction, Maslak District becomes undeniable as the most desirable real estate investment destinations.
  • The Affordability – Still being among the up-and-comers in the Turkish Real Estate Market, the price tags are still fairly reasonable in the Maslak district. The target market in the Maslak district being the young professionals, the property is offered at reasonable rates, with all the facilities and amenities that are offered in a luxurious abode. Although the mid-city development is fast and strong, the real estate companies are also eyeing at the lands surrounding the business hub for suburban development. There, the companies shall be offering 5-star villas with supreme luxury but at an affordable price in order to draw more local as well as foreign buyer traffic towards the district.

With the entire Turkish Real Estate on the path of rapid growth, more areas besides the Istanbul City are emerging as the desirable real estate investment destination. This provides foreign investors a better opportunity to look at a larger variety of property to invest in. Along with that, the Turkish Government is now inviting the foreign investors by the aid of the offering residential permit to those who invest up to $45,000 in the real estate and Turkish Citizenship to those who invest more than $250,000 in the Turkish Real Estate Market. Given the current developments and as well as the incentives being offered by the government, now is the most opportune time to invest and Settle in Turkey.

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