Where and How to Buy a Property in Istanbul: a Choice of Real Estate and Popular Areas of The City



Buying your own property in Turkey can be a good investment and a solution to the housing problem when your family often comes to Turkey on vacation or for work. But before you buy a property for sale in Istanbul, you need to determine the most prosperous areas, study the logistics of this metropolis.

A house near the sea
Buying a house on the banks of the Bosphorus in Turkey is an excellent investment.

Benefits of Buying a House in Istanbul

Istanbul is the largest city in Turkey, which used to be the administrative capital of the country, and now it is the center of the country's economy, culture, and social life.

Due to the Bosphorus, Istanbul is divided into two halves. It is the only city in the world located simultaneously in Asia and Europe. It combines eastern color and western pragmatism, Ottoman traditions, and multiculturalism.

Many residents around the world have shown appreciation in ways with the benefits that come while on holiday in Istanbul. While in Istanbul you can join excursion programs on the monuments of the Ottoman Empire, admiration to the ancient culture, mild climate, and within a short distance to the Black, Marmara and Aegean Seas.

 The city attracts visitors for all sorts of holidays and festivals. One of them is the Shopping Festival, in which a multi-million city for 20 days is where there are loads of purchases, discounts, promotions, and sales.

The festival
Shopping Festival in Istanbul.

You will find a lovely atmosphere by talented musicians performing in shops, shopping centers, department stores and on city streets. The event is held annually from late May to early June.

The Istanbul Mayor's Office sponsors the Festival, the Ministry of Culture and Tourism, the Council of Turkish Exporters, and other political and public organizations.

During the Festival, many shopping centers to the city switch to an around-the-clock mode of operation. Still, the most significant number of tourists-buyers flies to the Sultanahmet district, Istiklal Street, Bahariy Avenue, Bagdat street, and Abdi Ipekci Street.

For guests coming to Turkey, we have a pleasant bonus. This is the tax return on purchases, which can be issued upon departure from Turkey.

The business life of the city is very high. Branches of the largest world-famous companies are located here with multimillion-dollar transactions concluded daily, cargo tankers depart from seaports, and hundreds of planes meet and escort airports.

According to forecasts of sociologists and economists, by 2030, the population of Istanbul will grow by 20%, and GDP (Gross Domestic Product) - by 60%. The rapid development of international holdings and corporations in the city has lead to an impressive growth in the real estate market. Apartments for rent in Istanbul will increase by %70 with foreigners from China, Europe, and the USA.

Owning a house
You can relax in your home(Yali) near the Bosphorus.

Gradually, citizens from all around the world become part of this life. So why should you waste energy on constant search and booking of hotels, that's why people buy their own property in Istanbul, where you can retire, relax and create an atmosphere that suits your taste, mood, and style.

About 3-4 years ago, a sudden growth began in the Turkish real estate market. This means that in the coming years, the price per square meter of land will only increase. With it, the profitability of investment in houses will increase no more losses, high demand, and the possibility of leasing.

The cost of real estate in Turkey is low compared to other countries in the Mediterranean. If in Spain you can buy only a small apartment on the outskirts of Madrid for 10 million rubles, then in Istanbul for this money you can become the owner of an attractive villa on the beach in Catalca, a cottage in Buyukcekmece or a small house in Sariyer.

After the purchase, the costs of living in a house in Istanbul depend on the new owner. However, a mild winter climate, in which the temperature in winter rarely drops below 0 ° C, allows you to solve the problem of heating by using electric heaters. Depending on the complex, there will be no central heating system; that is why these expenses are absent during the departure of the owners.

You can monitor your home while abroad through the Smart Home system. If desired, the owner can agree with the management or real estate company, whose employees will regularly inspect the property, ventilate, clean the rooms, buy groceries before the owners arrive.

Turkish traditions require maintaining good neighborly relations, being warm and welcoming. This means that foreigners who decide to settle in a Turkish city can count on the support of the local population when needed.

Also, a large number of emigrants live in Istanbul, and the Turks working with Russian companies also speak Russian well.

A pleasant fact is that most foreign driver's licenses are valid in Turkey. Therefore, immediately upon arrival, you can rent a car and move freely around the city without using public transport.

Most houses in Istanbul have a garage indoors and outdoors of the complex. Therefore, problems with car parking should not be a problem.

What Kind of Housing Can be Purchased

The housing market in Istanbul offers a large selection of apartments, mansions, penthouses, and villas. The second one is the most expensive housing option. They are detached, surrounded by a garden, spacious buildings with a height of 1 to 3 floors.

A property with a vast land is generally used for farm buildings, a greenhouse or a winter garden, a swimming pool, or a picnic area. Such houses are suitable for large families with high income and comfort.

Houses near the sea
Homes on the seashore.

If you go further out of the historical center, you can find more affordable houses. Often they are designed as complexes or closed cottage villages located on the Black Sea or Sea of Marmara.

Different varieties of apartment planning, "key ready" houses, beautiful views, and a 24-hour video monitoring system attract people who rationally organize their own life.

The cheapest houses for sale in Istanbul can be found on the outskirts of the city. The price tag starts at $ 5000. However, relatively high crime rates, low infrastructure, and remoteness from a significant distance from local transportation.

Villa
Lovely Villas With Private Pool.

Best Areas to Buy a Home

Thinking of buying a house in Istanbul, you should check to the following areas:

  1. In Besiktas, there are many old mansions with windows overlooking the Bosphorus. Near the business district of Levent, are dozens of office buildings and the highest skyscraper in Turkey. In the Etiler quarter, there are large shopping centers, fitness clubs, and restaurants.

        2. The Beyoglu district is planned and built according to European standards. The ancient Art Nouveau buildings, Istiklal Street, expensive boutiques, and bohemian cafes create a unique atmosphere. The consulates of Russia, Great Britain, Sweden, Germany, and the Netherlands are located here.

        3.Sariyer district is situated on the picturesque shore of the Bosphorus. Business districts are boiling in the quarters of Sisli and Maslak, while Nisantasi and Zekeriyakoy are filled with prosperity and comfort. Some villas here are used as summer residences for politicians, musicians, actors, and the business. Therefore, housing in Sariyer is not cheap.

        4. The Fatih district includes the historical center of Sultanahmet, the Eminonu district, and the most "Russian" part of Istanbul Laleli. Thousands of businesspeople from the CIS (Commonwealth of Independent States) countries come here, so you will likely hear the Russian language more than Turkish as you are passing by.

In 2012, Istanbul became a leader in the list of European cities and the most appealing for people who are looking to invest in a property. Since then, it has maintained its position, increased its number of constructions, improvement, and development of urban infrastructure.

The cancelation of the "principle of reciprocity" has contributed to the fact that the demand for square meters among investors has grown so much that leading developers have come to the outskirts of Istanbul. Thus, the districts are gradually becoming one of the best areas for living.