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When it comes to investing in a property, location bears significant importance.
Especially location matters two times more if you are planning to buy a vacation house as a source of income.
Finding the best place to invest should be the main factor while deciding since it determines your earnings and the future of your investment.
Here are the trending destinations of 2023 and the best places to invest in the world:
1. Istanbul
The city that never sleeps is one of the leading investment spots, especially for foreigners. The multinational structure, endless activity options, unique experiences, and historical ambiance attract thousands of tourists each year.
Istanbul is also well-connected to the world with its 2 international airports and state-of-the-art Istanbul Airport was chosen as the busiest airport in Europe in 2022. The accessibility and high touristic demand make Istanbul the perfect place to buy a holiday home and gain income via short-term rentals.
In the competitive housing market of Istanbul, a wide range of contemporary projects consists of well-designed flats at affordable prices. The advantageous prices and modernly designed interiors create the perfect opportunity for gaining rental income via Airbnb in Turkey Istanbul.
Megacity Istanbul is also one of the most profitable options in the context of property prices in 2023. The annual yield of property values in Istanbul doubled in one year at a rate of %145.
2. Antalya
Nestled on the southern coastline, Antalya is a significant settlement with its wonderful climate, stunning nature, and comfortable living conditions. This unique Mediterranean destination is a sought-after tourism center of Turkey that stands out with its coastal districts such as Kalkan, Belek, or Alanya.
Foreigners often choose Antalya for vacation or permanent residence because of a quality lifestyle with low expenses. For example, utility bills including electricity, internet, and water costs around 50-60 £ monthly when it’s at least 200 £ in London.
When compared to another Mediterranean city in Europe, such as Rome, Antalya again stands out as the most affordable option. To experience a quality way of living by European standards, the monthly costs would be around 1.698 £ in Antalya whilst its approximately 3.687 £ in Rome. To summarize, the daily expenses from consumer prices to social activities are relatively lower than in other cities with similar living standards.
Nearly 14 million tourists arrived at Antalya Airport from January to December 2022. The intense demand creates a promising property market forecast for 2023. Since it’s not a seasonal touristic spot but an all-year-round destination, Antalya is a great place to earn an income via short-term property rentals.
With its advanced international connections, quality and a laidback lifestyle, low expenses, and perfect environment; Antalya can be sorted among the best places to invest in property in 2023.
3. Cyprus
This Mediterranean island is always known for its vibrant nightlife, entertainment centers, and advanced educational facilities. Cyprus has it all from tranquil seaside holiday resorts to central districts offering colorful city life.
Many foreigners also buy a vacation home on this island to experience a quality way of living with European standards. Some second-home owners choose to rent their properties during the summer season and live in Cyprus during the winter. Other than the short-term rental properties, it is also possible to obtain a regular income throughout the year by renting since the student population is highly at raise.
4. Alicante
Alicante, the place the sun never sets, is one of the most sought-after holiday destinations for Europeans. The breathtaking coastline stretching for kilometers perfectly matches the bright sun shining above nearly 300 days a year.
While trying to decide on where to buy an investment property, the Spanish property market should be taken into account. The new constructions in Alicante combine contemporary style with innovative features. Diverse property catalogs including resale flats to luxurious villas appeal to every kind of investment.
The purchasing and living expenses are a bit pricier than in Antalya or Istanbul, but Alicante still is more affordable and profitable when compared to the UK.
5. Lisbon
Lisbon, Portugal ranks among the top places for UK citizens to spend their winter holidays because of its warm climate and cozy environment. The summer season goes on pretty vibrant and lively, so Lisbon becomes a promising destination with high-income potential during the peak season.
Portugal’s government also offers a few incentives to investors, so that they can promote their short-term rentals via Airbnb. Since it allows homeowners to use the home from time to time, and gain income from short-term rentals, it wouldn’t be wrong to say that seasonal renting provides more flexibility than signing a 1-year contract with a tenant.
Know Where to Invest
While investing in a holiday home abroad, working with a professional comes in handy since they’ll provide a deep knowledge of the local market. To maximize your profit, true guidance on the best location and property would be quite promoting.
Tekce Overseas is a professional real estate company that offers consultancy with 15+ branches including Turkey, North Cyprus, and Spain with its sub-brands Antalya Homes ®, Istanbul Homes ®, and Spain Homes ®.
