Whether for Investment or Residence: Istanbul Real Estate for Sale

There are various reasons to invest in Istanbul, whether it is a lifestyle choice or pure investment; however, the most recent motivation may be to acquire a new Turkish citizenship by investment program. This requires a real estate investment of at least $400,000.

As the metropolis continues to expand, new financial districts have sprung up. On the European side of the city, prime real estate opportunities in Istanbul can still be found in Bebek, Sariyer, Rumelihisari and Istinye in the prestigious Bosphorus area. On the Asian side of the city, the famous Uskudar and Beykoz coasts also offer exclusive real estate opportunities.

Istanbul Real Estate Market

Property prices on the European side, such as Sisli, Levante and Maslak, and Kadikoy and Usküdar on the Asian side, have all risen in recent years. In addition, we have also witnessed the growth of new venues for urban renewal.

Kagithane, who is closely related to Sisli, is currently surging in popularity and is expected to replace Sisli in the coming years. Eyup, also known as the Golden Horn area, is close to the city and is seeing an increase in new housing construction in high-quality residential areas.

Two Sides of Istanbul: The European Side

The suburbs around Lake Kucukcekmece, with many new properties overlooking the lake and blending with the sea, where the new canal will begin its northward route to the Black Sea, is an excellent option for real estate investment in Istanbul. Looking at the emerging European districts such as Bahcesehir, Beylikduzu, and Esenyurt, they are all excellent places for real estate investment in Istanbul.

The Buyukcekmece district of Istanbul along with Bahcesehir, Beylikduzu and Esenyurt has been developed into stunning sea view residences. To optimize rental income, many landlords in Istanbul place great importance on sea or lake views. The cost of living in these places is generally much cheaper compared to the surrounding areas of central Istanbul.

Those interested in buying property in Istanbul have several options, including turnkey and off-plan properties as well as houses under construction. A full cash payment is usually required to complete the purchase of a key property. On the other hand, it is possible to buy an off-plan house in Istanbul with a down payment of about 40 percent and monthly payments for two to three years without interest.

This has significant advantages over buying an existing property in Istanbul. However, this depends on the current stage of construction and expected completion date of each project.

Two Sides of Istanbul: The Asian Side

The coastal communities of Maltepe, Pendik and Kartal, east of the city centre, have grown in popularity recently. On the Asian side of Istanbul, properties for sale offer stunning sea views at more affordable prices, including turnkey and off-plan properties. As such, there are plenty of options for shoppers on both sides of the city.

On the European side of the city, there are villas for sale in popular areas such as Zekeriyakoy, Buyukcekmece and Beylikduzu. On the Asian side of the city, villas are also available in popular areas such as Beykoz and Uskudar.

The most prestigious ones at that time were mansion-style villas in Istanbul. These properties are the quintessence of this great city with their Ottoman waterfront architecture overlooking the Bosphorus.

Istanbul Real Estate Market Conditions

Properties in central districts of Istanbul and prime locations along the Bosphorus such as Beyoglu, Sisli, Macka, Levent, Mecidiyekoy, Bebek are at the forefront of Istanbul's real estate boom. Luxury homes such as apartments and villas are in high demand in these communities.

Properties located in the heart of Istanbul can generally be divided into three categories:

1-) Well-managed, branded luxury residences are often built in high-rise complexes that include shopping malls, restaurants, and a host of other amenities, at prices commensurate with the luxuries offered. Sisli, Mecidiyekoy and Levent districts top the list as they are located in or near the business district of the city.

2-) Older apartment buildings in Istanbul with Turkish architectural designs located in some of the city's most desirable areas. Although few amenities are provided for the residents. Compared with new construction homes and high-end towers, these homes are extremely modest and offer relatively few building management services.

However, they tend to be properties in prime locations, such as houses with stunning views on the Bosphorus, apartment buildings in Nisantasi and Sicily, and most apartments in Bebek, all of which are some of the most expensive properties in Istanbul one.

1-) Shanty towns can be found almost everywhere in Istanbul, right next to some of the city's most prestigious addresses. Hilltops and trails are often built without formal permits.

Most of them do not have valid title deeds and most of the time they are in poor condition. Since 2005, the Turkish government has turned its attention to such properties as part of an initiative called "Urban Transformation." Under the plan, major developers are encouraged to combine plots with bungalows and streets and transform them into modern luxury homes.

Urban regeneration efforts in Istanbul have already had a major impact in several regions, including parts of Bomonti, Beyoglu and Karakoy in Sicily. The program has proven to be very successful in increasing the value and reputation of Istanbul's historic core, which was previously populated by shanty towns.

Recently, transport development in Istanbul has increased significantly. The real estate industry has also been affected. One-bedroom units start at about $100,000 and typically range from about $2,500 to $3,000 per square foot. These properties are cheaper and generate around 5% annual rental income.
Compare this to the cost of a luxury home in Sicily, for example, where you can easily pay over $10,000 a square foot, and the appeal of these suburbs becomes apparent. These new districts are now more commutable than in the past, and are rapidly integrating into Istanbul through an ever-improving transportation network such as a well-developed subway system and Metrobus.

Istanbul is a melting pot of hundreds of different nationalities and religions, all of whom have one thing in common: a desire to make everything magical. With a population of nearly 16 million, it is a melting pot of ethnicities and religions.

The vibrant city of Istanbul is considered one of the most important economic, political and cultural centers in the northern hemisphere. Between 2004 and 2012, the value of properties for sale in Istanbul increased by more than 240%, catapulting the city to a leading position in producing high-quality buildings.

No matter what type of property you're interested in, Property Superiors team is ready to help you find a place in town to call home and provide unbiased advice that directly relates to your investment in Turkey. Our Istanbul office offers comprehensive legal assistance and property registration services as well as qualified Istanbul property consultants to assist you with your Istanbul property purchase for all your needs. These purchases are tailored to your specific needs.