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The rise of the 1 bedroom Istanbul apartment

Turkish society has shifted drastically over the past twenty five years, changing the way Turks live and work. It’s also changing their attitudes towards property, and driven a robust new market for one-bedroom apartments in Istanbul. We explain how as a property investor, you can take advantage of this phenomenon to invest wisely, as well as assure your mid-term exit strategy.

Turkey is now the youngest country in Europe.


A young dynamic population

The last decade has seen a seismic shift in Turkey that has dramatically transformed its society and fortunes. The country’s youth population has grown dramatically, turning Turkey into the “youngest” country in the European region.

Last year, TurkStat released figures showing that half of Turkey’s population is now under 31. By 2050, the population is expected to increase from 79 to 93 million: and while the rest of Europe continues to age, Turkey’s youthful demographics will propel it toward the next century.

Nowhere is this phenomenon more apparent than in Turkey’s largest metropolis, Istanbul. As with large cities everywhere, living in Istanbul is attracting young, ambitious professionals relocating for work or seeking their fortunes. Of the city’s 20-million strong population, 80 percent is under the age of 45.

Turkey is seeing more women going to work.


Dramatic societal shift

Society looked very different a quarter of a century ago, when only men worked, leaving their wives at home bringing up a large brood of children. These days, Turkish women have joined the workforce in their millions. And just as we’re seeing in the western world, couples are also waiting longer to have children, preferring to become financially solvent before starting a family.

This young, ambitious population is better educated than their predecessors, with more disposable income in their pockets. Savvy with technology and clued-up about the wider world, they represent a new, Turkish middle class of consumers determined to live a cosmopolitan lifestyle with high-quality goods and services.

The rise of the 1 bedroom apartment in Istanbul.


The new appeal of the one-bed apartment

As well as seeking out the latest brands and newest city hotspots, the new population of young, childfree professionals wants high-quality accommodation - and they are willing to pay well for it. But they don’t want the three or four-bedroom apartments their predecessors valued so highly 25 years ago: these young professionals are looking for one-bedroom properties.

One-bedroom Istanbul apartments are economical: easy to heat, with lower utility costs. They’re easy to clean - important for time-poor, commuting professionals. And crucially, because market demand is high, they’re easy to sell.

Recognising the demand for the lifestyle extras demanded by this current generation of professionals, property developers are creating lifestyle hubs around their apartment complexes. Projects now include restaurants, cafes, patisseries, shops and link-ups to metro stations - appealing to workers who spend a great deal of their day commuting and don’t want to have to venture far from home. And as these new Istanbul suburbs grow, the municipality is responding with further infrastructure: hospitals, universities and leisure centres are appearing, connected by new roads and metro lines.

Istanbul is seeing a boom of investment in the Media Highway area.


What this means for property investors

Property Turkey director Cameron Deggin says the one-bed apartment phenomenon means opportunity for property investors.

“When you’re buying an investment property, it’s important to get your exit strategy locked down,” Property Turkey director Cameron Deggin explains. “For that, you have to know your market. The larger your audience, the greater your chances of success when it comes to selling your property at the right time.”

As well as ensuring your property will sell, high demand - as well as existing economic factors - for one-bedroom apartments means these properties will appreciate nicely. This does mean potential investors need to take timing into consideration before buying a property, Deggin says.

“Most buyers looking for one-beds can obtain finance up to $200,000. This means investors looking to sell in the mid-term should focus on properties between $100,000 and $150,000, this allows some room for growth and assures you plenty of available demand when you come to sell.”

Deggin highlights the Media Highway, or Basin Ekspres as an area of focus for new investors. This regenerating area has a number of developments geared towards young professionals seeking out one-bedroom properties. And as rental demand is also high, investors can earn a respectable rental income while waiting for their property to increase in value - which will take around two years, he says.

“If we’re looking at investing in the Media Highway area, investors entering the market at around $150,000 can expect their properties to rise to around $200,000 in 24 months. That’s the sweet spot, as far as resale goes.”

Listed below are Deggin’s hand picked selection of his top five Media Highway one-bed apartments. “These are all in the target range of $100,000 to $150,000, have excellent payment plans and the top facilities that attract one-bedroom buyers.”

For more information, please contact Cameron Deggin at info@propertyturkey.com


Five one-bedroom Basin Ekspres investment apartments


Pre-launch prices near Ataturk Airport


$ 128,300

“This quality development by one of Istanbul’s most prestigious developers is right in the heart of the Media Highway area, with a great deal of lifestyle ‘extras’ and on-site social facilities,” explains Deggin. 

“It’s also very close to Ataturk Airport, and as Media Highway is becoming one of Istanbul’s main financial hubs this will undoubtedly be a draw for professionals who need to make frequent overseas trips.” 

The property is currently listed at a pre-launch price. “Prices are around 40 percent below the average price of a completed Istanbul home,” explains Deggin. “You cannot get any lower, which obviously allows for some serious room to move on your investment.”


Basin Ekspres apartments near metro station


$128,200

“Every Istanbul worker wants to be by a metro, so this will be the holy grail for your target market,” says Deggin. 

“Again, the properties in this development are offered today at early first call prices, which means of course as well as a discount there is plenty of scope for appreciation and price rises here.” Deggin says the development’s location and its lifestyle features will also be a huge attraction. 

“You have shops, a gym, cafes, concierge service - it’s a great option for investors wanting to invest at an entry-level price and then sell on in two or three years for around $200,000 with an assured exit strategy in place.


Basin Ekspres apartments with Fold Home concept


$124,400

“This development is on the outskirts of Basin Ekspres. It’s a luxury development that has been designed in a clever way. 

The Fold Home concept is a way to make use of all available space and provide facilities available at request - which of course is essential when you are living in a one-bedroom apartment. 

The development has a lot of excellent lifestyle amenities: as well as shops and restaurants you can find some quite unique features, like a movie theatre, music room, fitness suites, event rooms.  

These really place it apart from anything else on the market in this area.”


Invest in a home-office residence in Basin Ekspres


$85,600

“Istanbul professionals can be divided into two categories,” says Deggin. 

“Those who are running a start up, or those who are planning to launch one. The city is becoming a major start-up hub, which is why we’re seeing a lot of these home-office apartments springing up around the city.” 

This development being located in Basin Ekspres means investors have a dual advantage, Deggin explains. “It’s central to the local area - which is a burgeoning finance district - and linked to the wider city.” 

Each apartment benefits from super-fast internet, and has access to onsite meeting rooms, a conference room as well as cafes and restaurants catering to business professionals.


Park homes at pre-launch prices


$114,700

These quality homes are not only in a relatively peaceful area, but just two minutes away from two Metro stations. 

“The park is a municipal one and won’t be developed,” says Deggin. 

“It’s understandable that projects next to such green spaces are always in demand, as such these one-bedrooms will sell quickly and easily, and will appreciate well.” Deggin points out that the 15 percent discount currently on offer for this project will disappear once the construction reaches its next price point. 

“This is such a solid option I would still invest in it at 15 percent higher,” he says. “But obviously 15 percent represents a fantastic discount, which means greater capital appreciation for investors.”


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