In recent decades Istanbul’s transformation from a modest city to a huge centre, home to a quarter of Turkey’s population has been astounding. Economic advances and increased immigration to the city mean Istanbul is bigger and wealthier than ever before. However, growth has not been smooth, and now city planners are aiming to transform the city over the next 20 years with initiatives aiming to improve housing and infrastructure for future generations. We explore the opportunities urban transformation presents for investors - and the problems associated with rapid change.
While the Princes Islands are just a short trip from Istanbul, visitors who step onto the ferry leave behind more than just a big city - they depart the trappings of modern life and enter a long-forgotten world of horse-drawn carriages and wistful Victorian mansions. Once a place of exile for Byzantine and Ottoman royalty, today the islands are enjoyed by day trippers who explore their beaches and pine forests. Although it's rare to find real estate for sale on the Princes Islands, a 140 year-old mansion for sale offers not only the chance to experience life as part of this intriguing archipelago, but an opportunity to invest in a successful rental business.
The Sisli neighbourhood of Bomonti is just a stone's throw from the exclusive area of Nisantasi and three kilometres from Taksim Square, yet prices are still favourable. This old town built around a historic brewery has experienced mega-development, with several high-profile names taking advantage of lower land prices to make their mark on this esteemed area.