A buyer asks: How to find the right Istanbul property?
At Property Turkey, we field a lot of questions. It’s a part of the job we love, as we’re able to show off our industry knowledge and experience, as well as help our clients in their search for the ideal investment or lifestyle property.
Roberto Lombardi, from Milan, got in touch with Murad in our Istanbul office to ask about something a lot of our clients wish to know: timing your property investment to make the best possible gains.
My family and I have been visiting Istanbul for several years and we love our trips there. We are thinking of buying a second home to live in on our trips, and renting it out when it’s not in use. We have two children, and we hope to use the property as an investment that we can sell to pay for their university education when the time comes, in around five years.
So to summarise: we’re looking for something family friendly to stay in, but something that will also sell well (quickly and with a good appreciation on our original investment) in five years time. Can you suggest something?
Thanks for your enquiry. You’ve tapped into something quite important: finding an investment that’s going to deliver, as well as something that will sell well. You also have the added requirement of a family-friendly property, which means you’ll need something with great facilities in a safe, well-connected area.
Although you have quite a list of requirements there, I can actually point you in the direction of a few areas, and projects within those areas that fit what you’re looking for.
Bahcesehir is a green, family-focused area around 45 minutes from the centre of the city. It was purpose built as a suburb for families and professionals, and has an emphasis on leisure facilities.
The only downside to Bahcesehir with respect to your requirements is that there is a lot of development in this area, and in five years time when you come to sell it might not be as fast as it would be in other areas.
This project (right) is a really solid Bahcesehir option. The development is excellent, well organised with great facilities, like shops, a pool, lots of common areas and leisure facilities like gyms, pool, sauna etc. This listing is for a one-bedroom apartment but there are units with as many as four bedrooms available. The development is now completed, so you can move in tomorrow and pay over 10 years.
Buyukcekmece and Beylikduzu
Like Bahcesehir, these areas are 45 minutes from the city centre, except these areas are on or by the Sea of Marmara, on the European side of the city. Buyukcekmece has historically been a popular seaside getaway, there are tea gardens and cafes and other attractions along the seafront. This is still the case but the area has also seen a lot of development as people move outside the city centre looking for lower priced property.
Investment potential is good here, especially as you near the shoreline, as development is limited, and therefore prices will rise quickly. However, you have to be extremely selective if you are investing here because there are a lot of properties being built, which means selling your property could take some time. With the right investment you could be onto a winner but you really have to know what you’re doing.
My favourite project in this part of the city is the Blue Marina development. It’s upmarket, exclusive, and the facilities reflect that. There’s a marina, private jetty, waterfront attractions, just for residents - it’s ideal for a young family.
Being so close to the waterfront means Blue Marina will always be a desirable property so it's a good investment with an assured exit strategy. This development will continue to rise in value following the planned price rises ahead of next year’s completion.
Media Highway & Historic Peninsula
Of course, many people like to be close to the action with respect to an Istanbul property purchase, and ask us about buying close to the centre of the city. Buying in central Istanbul is easier than it used to be as the government regeneration initiatives are transforming a lot of the central rundown areas people used to avoid.
A couple of places I’ll highlight here are:
Eyup, for example, on the Golden Horn, Turkey’s historic peninsula, would never have been on anyone’s radar, and now it’s something of an investment hotspot as there are some great developments there and the infrastructure has improved, which means an easy journey into the centre of the city, and opportunities to explore the cultural and historical sites on your doorstep.
Media Highway, or Basin Ekspres: this is a really fast-growing area, with excellent infrastructure and some really superb developments. High quality, luxury apartments are still affordable here, but the landscape will look very different in five years time - when you’re aiming to sell - as prices really will shoot up thanks to the area’s improvements and very central location.
It is near Topkapi Palace, as well as a few universities including Yildiz Teknik University, Nisantasi University and Istanbul Yeni Yuzyil University, and some of the biggest malls in the city, like Forum Istanbul, and Kale Centre. It’s also a solid family development with good facilities you and your children will love.
While there is a lot of development happening in these central areas, demand is still outstripping supply. For this reason, you will have no problem securing decent returns as well as a solid exit in five years time.
If you have a question for Murad or any of our other consultants about investing in Istanbul, please don't hesitate to get in touch.
If you'd like to see a bit more of Murad's expertise, you can find a few videos on Youtube: