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.
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.
This city offers also villas for sale, but there is a difference between villas in Istanbul and villas in seaside resorts of Turkey. In the Mediterranean Region, villas are usually identical and built on estates while Istanbul provides unique villas for sale in the city centre that have been renovated (from 800.000 Euro) or on suburbs (from 300.000 Euro).
Real estate in Istanbul is available for everyone who is looking for a second home, retirement location or just holidays in a beautiful country with lower cost of living. Istanbul provides a wonderful investment place with great choice of apartments and villas for sale. Mortgage rates in Turkey have become very affordable for those purchasing a property, either the local buyers or foreign ones.
With the millions of tourists coming, the demand of rental property in the place like Istanbul is high. Property owners have wonderful opportunity to earn an extra income by renting the property out.
The interest in this area is obvious and with a great connection to all European cities, Istanbul provides everything what you are looking for. There are two international airports in Istanbul – Ataturk Airport and Sabiha Gokcen Airport. Both provide international flights from Europe all year round. There is third airport planned, which will be the biggest airport in the world with a capacity of 150 million passengers per year. The connection to the city is another reason, why many foreigners buy a property in Istanbul. With two airports right now, there is also a possibility for vacation in the southern parts of Turkey in the Mediterranean coast by using one of many domestic flights.
With many different reasons, there is no doubt that Istanbul is one of the most favourite cities in the world, so if you have decided that this wonderful city will become your second home, feel free to contat us at Summer Home Real Estate. Buy a property in Istanbul and live your dream!