What is the General State of the Real Estate Investment Market?
Due to some economic crises in the real estate and new home construction sector in Turkey, both operational costs and real estate prices have decreased in recent years. However, this situation has become a great opportunity for investors to buy property in Istanbul in Turkey. Also, now is the best time to invest in real estate in Istanbul.
In Istanbul, Turkey's largest city and most expensive housing market, the average house price rose 20.8% during the year to reach 6,312 TL ($782) per square meter by the first quarter of 2021. House prices, adjusted for inflation, rose modestly by 4.5% year on year.
Whether you are looking for residences, gorgeous homes, secondary homes, apartments, condos, holiday homes, or just a rental investment, Istanbul is one of the world's perfect cities to invest in.
Investing in Istanbul: European Side or Anatolian Side?
If you want to live in the best and most affordable region, you've come to the right place. Istanbul is a place full of different regions, people, and cultures. There are two parts to choose from in Istanbul. And those parts are Asia and Europe. The question is, which do you prefer? Asia or Europe? In Istanbul, some properties are located on the European side and some on the Asian side. Here are the differences between them.
There is a big difference between the Asian side of Istanbul. Technically, the Asian side of Istanbul is the eastern part. The Asian part of Istanbul is where you will find quality and large structures such as commercial buildings. Uskudar is one of the remarkable places to settle on the Anatolian side of Istanbul.
If you rent in Uskudar, you will have the chance to visit some historical places in Istanbul. There are other establishments on the Asian side, such as restaurants, cafes, malls, and much more. And if you want to be very close to nature, then the Asian side is the right place to live.
There are many flats or real estate opportunities on the European side. The European side of Istanbul receives more tourists due to the booming economy and increased commercial activities opening up to developed districts or municipalities.
The European section also offers transport lines to easily connect neighborhoods and towns. The European region is where foreigners buy real estates, such as apartments and houses. Foreigners will buy from here for convenience, as it is located in the center of economic highlights.
What are the Best Areas for Real Estate Investment in Istanbul?
The opportunities offered by the place you work, the social life of the region and transportation services, and your criteria should be prioritized when purchasing real estate for living purposes. Especially if you are a family with children, conditions and health services should be evaluated according to these criteria.
Besiktas, Beyoglu, Sisli, Macka, Levent, Mecidiyekoy, Ortakoy, Bebek, and similar central districts, the most valuable properties in the European and Asian coastal regions of the Bosphorus, have the most luxurious residences and residences. In addition, districts such as Bahcesehir, Beylikduzu, Buyukcekmece, Kucukcekmece, and Esenyurt, located on the outskirts of Istanbul, also have different housing options.
Here we give you a mini-list of the top 5 areas to check out before buying a property in Istanbul.
Sisli is one of the oldest and largest districts of the city. Especially in recent years, the number of residences has increased considerably. Your real estate agent will guide you on where to look in Sisli. Sisli is an excellent investment opportunity. Public transport is available everywhere and can take you anywhere in the city.
There are many shopping malls, hotels, and social activities in the surrounding area. Due to urban transformation, not only residences but also newly built apartments are very popular. In particular, Bomonti is one of the regions that has attracted attention with its attractive real estate projects in Sisli in recent years.
Today everyone knows that Taksim is the heart of Istanbul. All the colors of the city are in this district. Shops, cafes, cultural events, art galleries, festival halls, etc. Taksim's main street is Istiklal Street, but actually, Taksim is spread over a really large area. There are many apartments, residences, and living concepts for sale. And again, there are new options due to urban renewal.
This is one of the city's most affordable districts. Another advantage is that it is close to Ataturk Airport, 15 minutes by car. Your real estate agent will list your other benefits as well. For example, numerous shopping centers and universities are nearby, and all projects in Beylikduzu offer you a safe life with green areas.
Public transportation facilities include Metro, Metrobus, and buses. Projects are usually 10-15 minutes away from the sea by car. When you buy a property in this area, you can easily find tenants or resell it in a reasonable time.
Bahcesehir is one of the most sought-after places for investors in recent years. Here are the reasons. First of all, the prices are reasonable. Property types are diverse; villas, apartments, and studios. Most of the properties are surrounded by green areas. When you invest in Bahcesehir, you guarantee many advantages.
It is close to Ataturk Airport, universities, shopping centers, shopping areas, the beach, and public transportation. With all these, your property can be used both for winter and summer. This area is easy to find tenants and great for resale.
Would you like to make smart investments at affordable prices? Here is one of the best neighborhoods in the city for your wish. Esenyurt is the neighboring district of Beylikduzu. Many sites, towers, and residences have been implemented. These properties are perfect for both singles and families.
Many shopping centers are nearby, and Ataturk Airport is just 20 minutes away. Types of real estate are diverse, and all offer commercial opportunities. Please do not forget to ask your real estate expert to inform you about the real estate projects in Sefakoy and Günesli.
What are the Reasons to Invest in Istanbul?
Istanbul, which has hosted many civilizations for a thousand years, has re-emerged as an international trade and business center with its diverse, dynamic, and rapidly growing economy that offers many lucrative opportunities for multinational companies. Here is a list of reasons why you should invest in Istanbul:
- Fast-growing domestic market
- Mature and dynamic private sector
- Leading role in the region
- Liberal, safe, and encouraging investment environment
- Quality and cost-effective labor supply
- Institutionalized economy and customs union with EU countries
- Advanced infrastructure
- Competitive tax system
You can also visit our guide to get detailed information regarding Turkish citizenship by investment acquisition.