There are clear winners if you are looking at the best areas to buy property in Istanbul. Istanbul’s real estate market is an ever-revolving circle of buyers and sellers. Every buyer has different reasons for investing in the city centre and outskirt districts, from prime locations to affordable real estate prices.
Whether you want to buy luxury property, Turkish citizenship, or apartments for sale on residential complexes, Istanbul is a popular choice. However, those buying purely for rental yields or to find a wise mid to long-term investment property should head to certain areas for maximum profit.
The story of this trendy neighbourhood is an accurate rags-to-riches tale. This old quarter of Sisli was rundown and neglected, with few facilities. With beautiful mosques, churches, and synagogues at every turn, only intrepid tourists visited, and residents were working-class families who ran small businesses there. Most international investors hadn't even heard of it.
When the Hilton Hotel moved in, Bomonti's fate attracted foreign investors. The hotel giant built the city's largest hotel here, causing a surge of interest in the historic area. In Bomonti, several buildings allow for easy entry into rental markets. Turkey has tightened the regulations for getting a licence for rental properties on a short-term holiday basis. However, several real estate projects fit the requirements, and real estate investors can get healthy rental returns. (About Airbnb Approved Properties.)
Ataşehir became globally famous by developing a $2.6 billion finance centre (the IIFC) that turned Istanbul into a global finance centre. Located in Asian Istanbul, this well-developed, elite neighbourhood with modern apartments, varied commercial properties, and good amenities has much potential. Low prices attract young professionals, although high earners are moving in, pushing prices up.
Ataşehir’s ideal location, along with the first Bosporus Bridge and two significant motorways, means residents have a major advantage. The major Metropol shopping centre also boosts the quality of life with additional recreational facilities.
Although Asian Istanbul was traditionally less desirable than the European side, this has changed, and investors are now moving to the Asian side because of newly built homes. As demand outstrips supply throughout the city, modern areas with good travel links, like Ataşehir, are in high demand. The IIFC development has transformed the district's fortunes. Property prices and rents are increasing, as will demand from buyers working at and associated with the development.
In European Istanbul, Eyup is a popular destination for families thanks to its conservative atmosphere and central location. The district has everything on its doorstep, including great views, excellent public transportation, commercial centres, and affordable residential property. Known for the 15th century Eyup Sultan mosque and the cable car that runs up to Pierre Lottie Hill, it sees a steady trickle of tourism, but not enough to disrupt the calm, family-orientated lifestyle.
With ideal investment projects, modern amenities, and affordable residential apartments, Eyup's strength lies in long-term stability and a conservative atmosphere, especially for Muslim investors. Bordered by ten other districts, Eyup includes 29 neighbourhoods, giving a wide range of real estate investment options.
Sitting 30 minutes away from Istanbul airport, Kagithane is another district where you will find excellent rental income from Airbnb properties, alongside excellent infrastructure, thanks to real estate development. Also served by the M7 and M11 metro lines and other transportation options, exciting opportunities sit on every corner.
Nineteen neighbourhoods also feature various residential projects that sell at affordable prices, especially compared to neighbouring Beyoglu. One of Istanbul's most famous buildings is the Istanbul Sapphire. It was the fourth tallest building in Europe and the tallest in the country. The city also includes shopping centres with international brands, business opportunities, and apartment options.
Istanbul's "garden city" is a suburb for alternatives to the eye-watering prices of the city centre. Thanks to careful town planning, it's a modern suburb. In European Istanbul, Bahçeşehir is 35 kilometres from Taksim Square and 18km from Ataturk Airport. Buyukcekmece and Kucukcekmece lakes are around ten minutes away.
Although Bahçeşehir property prices have doubled, the suburb is still up-and-coming. Roads are broad, and many green spaces, awareness of environmental issues, and infrastructure were carefully developed.
While Bahçeşehir is high-end, the district still offers reasonable prices, costing around a third of the square metre value of a comparable Sisli property. There is a high demand for quality rental properties in Bahçeşehir. Young professionals lead the way, creating opportunities for investors seeking steady, long-term tenants. High demand for property means a safe exit strategy.
The above areas are all middle class, and although many prestigious neighbourhoods have luxurious lifestyles, some investors prefer to invest in affordable housing. Currently, looking at market sales, Esenyurt ranks for the lowest prices per square metre. Modern housing estates have sprung up over the last ten years, and the geographical location puts it within driving distance of the new airport and the historic district. Esenyurt isn't about a luxury life but offers robust infrastructure, healthcare facilities, and convenient access to the Marmara Sea.
Currently, that comes in as Sariyer, which averages 3,224 euros per square metre. With luxurious apartments and villas for sale alongside top-notch educational institutions, the finest neighbourhoods represent the best of luxurious projects and time-honoured houses. Still, luxury real estate here can present many attractive options alongside the strategic location.
- Istanbul is Turkey's most famous city, a business centre, and a hub of everything.
- Includes many shopping opportunities, entertainment centres, and top-notch educational facilities.
- Istanbul is the gateway to the vast country of Turkey through two airports.
- Includes the Bosphorus Strait, one of the world's most crucial shipping lanes.
- Istanbul is the number one destination in Turkey for foreign investment.
- The real estate sector ranges from affordable apartments in the cheapest neighbourhoods to luxury villas for affluent residents.
- There is constant investment in quality infrastructure.
- In places like Belgrade Forest, there is an atmosphere of nature, away from the urban lifestyles.
- Offers a competitive advantage over other global cities like Paris and London.
- Lastly, there are fantastic views and attractive destinations on every corner.
If you want to become a Turkish property owner, you will be glad to know that the buying process is incredibly easy, especially compared to European countries. If all finances and paperwork are in place, the whole process happens in a week. You only need a valid passport, a Turkish bank account operating in Turkish lira, and a tax number.
We will help you get the last two. Given the fast-buying process, it is wise to get your finances in order before looking at apartment complexes or villas for sale. Also, include 6% for additional costs like translators and taxes.
Once ready, browse our attractive apartments and villas in this vibrant city. Just use the contact details to find out more via email or telephone or to arrange a viewing. As well as showing properties, we make viewing trips of the Istanbul European and Asian side neighbourhoods to show the access to amenities and advanced infrastructure.
Once you have chosen your dream property, we will step in to help you become an owner of this fantastic city. As your real estate consultant, we will convey your offer, work with your solicitor, obtain valuation reports and make applications. Once you have received your deeds, you can settle into affordable, high-quality lifestyles.
We hope we have given you helpful information about the best areas to buy property in Istanbul. If you would like to know more about becoming a villa or apartment owner, call our agents. They can answer any question about investment opportunities in this advanced city.