New builds in Izmit for Sale

Location and climate

Izmit is the administrative center of the Kocaeli province of the Marmara region of Turkey, located on the coast of the Sea of Marmara, near Istanbul.

The climate is humid subtropical (according to Köppen's classification), summers are dry and hot (+30°C), winters are cool and humid, the temperature does not drop below -4°C, precipitation in the form of snow is short-lived.

Buying an apartment in the new builds in Izmit becomes profitable

Izmit is a highly developed industrial city in Turkey. Here the production of Ford vehicles (Izmit is the only manufacturer of Ford Transit vans in Europe), Chrysler, Hyundai, Honda and Isuzu has been established; rubber products, tires (Goodyear, Lassa, Pirelli, Bridgestone) are produced according to world standards as well.

Izmit also has a shipyard with well-known brands:

• Tupras (oil refining),
• Borusan Mannesmann (pipes),
• Kordsa (reinforcing materials),
• Arcelik (home appliances and electronics),
• Seka Kagit Fabrikasi (paper),
• Brisa (all types of knives: hunting, tourist, kitchen, etc.),
• Petkim (pet care products),
• Marshall (acoustics),
• DYO (paints and varnishes), etc.

Kocaeli University teaches in technical and engineering disciplines, it also offers programs in arts and social sciences.

The investment potential of the city is significant and has not yet been fully realized. The growing influx of foreign specialists and students to the city stimulates the demand for Izmit real estate in the new builds for sale. The interest in residential complexes with a small number of apartments is increasing (some people strive to avoid contact with those living nearby).

Residential complexes in Izmit are actively purchased even at the stage of construction start by Turkish citizens thanks to the program of providing mortgage loans at low rates.

The sale of apartments from developers is carried out in compliance with the legislation, and the quality of the objects corresponds to Turkish building standards, which is confirmed by customer reviews, the price of apartments in new homes for sale is still low, and the infrastructure is within walking distance. It is advisable to insure housing due to the seismicity of the area.

According to the information provided by the real estate search engine GEOLN.COM, the minimum price per square meter of space in a new home from a developer in Izmit (apartment handed over in black frame condition) is 250 USD.

Sights

• As a tourist destination, Izmit is still underdeveloped, but there is something to see:
• Seka Park, a beautiful promenade with bike Paths and recreational areas;
• Museums: naval, ethnographic, paper;
• Clock tower (1901);
• The Palace-Museum of Qasr-i Humayun;
• Pink rocks.

Conditions for buying apartments from the developers in Izmit by foreigners

The sale of apartments to foreigners is prohibited in military zones and regions considered strategic. These zones are determined by the Ministry of Defense of the Republic of Turkey. Foreign investors can buy apartments from the developers in Izmit on the same terms as citizens of the country.

Purchasing an apartment in a new development in Izmit is an investment with the prospect of obtaining a stable rental income in an industrialized city.