Low cost of living in Istanbul, in comparison with other big cities in Europe, is one of the main possitive elements for people who are deciding to buy a property in Istanbul. Istanbul and Turkey in general provide reasonble prices of real estate and costs of living that are way more affordable than those in seaside resorts and big cities in Europe, especially Spain or France. The Mediterranean climate is the same, Turkish culture is interesting, cost of living is lower, so it is not really difficult to see why many people have decided to buy a property in Turkey instead of Europe with overpriced apartments and villas.
Istanbul is one of the most populous cities in the world and it is a historical, economic and cultural center of Turkey. Istanbul has one of the fastest growing metropolitan economies in the world. Bosphorus, the natural strait and internationally important waterway, divides Istanbul into European and Asian side.
Real estate in Istanbul is very interesting for foreign buyers. Except of the great location, close distance and easy access to other European cities, warm climate, there are also lower cost of living and the prices of property for sale that attract property investors.
Apartments for Sale in Istanbul
The prices of property in Istanbul vary and depend on location and the size of the property for sale. Apartments and villas for sale are available on both sides of Istanbul. Property on the European side of Istanbul has, of course, much more higher prices than the property for sale in less attractive locations on the Asian side.
We have to say, that apartments have a dominant place in Istanbul real estate market. New complexes on the European side of Istanbul provide modern design, 5* facilities, but buyers must be ready for higher prices, starting around 150.000 Euro for small apartments. There are also renovated apartments for sale in Istanbul that offer more traditional feeling. Those old-style apartments and bigger penthouses that have been stylishly renovated are good option for investors. The prices start at 150.000 Euro.
There are many big luxurious complexes being built in the suburbs of Istanbul. Those complexes are built in high quality with all social facilities and provide everything what you ask for. The prices are more reasonable in comparison to those in the city centre and start at 45.000 Euro. With improving transportation networks, the residences on the outskirts of the city have become more accessible nowadays and started to be a part of the great city Istanbul.