Because of the economic downturn in the real estate industry and the construction of new homes in Turkey Both the cost for business as well as the costs of real estate have decreased in recent times. But, this presents a fantastic opportunity for investors to invest in real estate in Istanbul and in Turkey. It is also the perfect time to buy property in Istanbul.
If you’re in search of an ideal main residence, fantastic houses, a second one or apartments or flats, holiday homes or simply an investment in rental properties, Istanbul is one of the best cities that you can invest your capital in.
Istanbul is a city that welcomes visitors
Looking to buy a apartment, home or holiday home, or living here, Istanbul is an enticing energetic and vibrant city where you’ll never get bored. The charming and elegant neighborhoods in Istanbul provide the best lifestyle in Istanbul.
The city is a wonderful blend of two continents, connecting Asia to Europe. It is also the biggest one in Turkey and also the most important cultural and financial centre. This sprawling city has 15 million inhabitants and is among the 20 top most frequented cities around the globe.
The proximity of Istanbul and the areas around it via the Marmara zone to New Istanbul Airport (IST) and Sabiha Gokcen Airport (SAW) can have a significant impact on buying a home in Istanbul. New Istanbul Airport (IST) is one of the biggest airports in Istanbul and around the world.
Where can I buy?
• The city’s central districts and the areas that are located along the Bosporus European as well as Asian coastlines have the most expensive homes, luxury properties and houses.
There are many new projects , most of which are built in high-rise tower complexes , which include restaurants, shopping malls, and various other facilities, all under one roof that attracts potential investors from Turkey.
* Besiktas, Bakirkoy, Kadikoy, Beykoz, Sariyer, Adalar, Uskudar, Sisli, Zeytinburnu and Beyoglu (in order) are among the most expensive districts of Istanbul.
* Bebek, Etiler, Ulus, Fenerbahce, Caddebostan, Suadiye and Atasehir neighborhoods are among the most famous areas in Istanbul and offer luxurious new homes, residents and apartments for sale at affordable costs compared to the ones found in Europe or elsewhere.
* The districts located on the fringes of Istanbul like Beylikduzu, Avcilar, Sancaktepe, Silivri, Catalca, Sultangazi and Basaksehir (in order) are the most affordable.
The best areas where you can live Istanbul
European side
Beyoglu, Sisli, Cihangir, Besiktas, Ortakoy, Sariyer, Bakirkoy, Yesilkoy, Fatih
Asian side
Uskudar, Kadikoy, Moda, Acibadem, Bostanci, Atasehir, Suadiye, Maltepe
The best places to invest in Istanbul
European side
Besiktas, Taksim, Sisli, Bakirkoy, Basaksehir, Beylikduzu, Arnavutkoy (near IST airport), Bahcelievler, Kucukcekmece
Asian side
Uskudar, Kadikoy, Sancaktepe, Cekmekoy, Umraniye, Atasehir, Bostanci, Maltepe, Kartal, Pendik
Cost of properties in Istanbul for sale
* The average cost of a 3+1 flat in Istanbul is approximately 4.500 in TL. However, this is possible to be reduced to 4.250 TL for 1+1 studios and houses. Prices have risen by 29.02 percent over the past year, and by 400.48 percent over the last 10 years. Also, the typical rental return has been set at 20 years.
* The cost of 100 square meters of a home bought from Istanbul ranged from 750,000 to 1,250,000 TTL. The average price per square meter of houses for sale is approximately 11500TL within Istanbul five hundred TL within Ankara and 9,900 tonnes in Izmir.
* The median home rental cost for the whole of Istanbul is approximately 35 TL for each square meter This means that the flat rental price for a 100m2 area is in the range of 3500 TL to 4500 TL.
* The prices for home rentals for the low-cost neighborhoods and areas are around 20 TL per square meter (100m2) flat rental cost is anywhere from 2000 in TL.
* Then it increases to 10,000-15,000TL on the Istanbul district of the city center and in the areas where universities are located.
Furnished flats are similar to a cost of %25-30. It is also important to note that rent for a house increases around 30% per calendar year within Istanbul.
* Besiktas and Sariyer districts are the most costly through home rentals with an average rental cost of 7,500 to 9,500 TL. Then comes Bakirkoy with the average price for home rentals of 6,500 TL. Then, it’s about 5,500 to TL to Kadikoy along with Beykoz.
Why should you buy?
* Istanbul and the surrounding areas offer a variety of excellent projects that are newly built homes, apartments, residences vacation homes and luxurious villas , or land with a mountain views or sea views to purchase at extremely affordable prices that give investors to make a profit on their investment. The market for property in Istanbul is extremely appealing to investors from all over the world.
* The property located in Istanbul can be considered among the top in Turkey which means that buyers will surely be happy living in as well as investors can benefit from a variety of rental options and income opportunities.
* Istanbul and its surroundings are awash with sunshine, sea, breathtaking views and stunning scenery and friendly people. They also offer good value for money Freehold homes with low costs of living, the possibility of EU accession as well as great investment opportunities.
A property purchase in Istanbul is a great option for investment because the city offers affordable prices, particularly those who are foreign. The average cost of villas, houses, homes and apartments within the region have increased 100 percent in the past 10 years.
Foreign buyers can profit from the extremely affordable prices of property in Istanbul and the living expenses. Istanbul is also a good investment return in the shape of rental income, as the majority of the homes in the city have 12 months rental possibilities.
Another excellent opportunity is the fact that the Turkish Lira has been falling in the past year that means that the main foreign currencies are a little bit higher than the TRY. While the costs of real estate market in Istanbul have sunk in the same period and foreign investors are the most likely to profit both times from this point from a perspective.
What is the best way to purchase an apartment in Istanbul?
The first step is to must make a decision to purchase a home in Istanbul. If you decide to buy the property for your own use or as an investment. You’ll then need to locate the right place that is best suited to your needs in the context of buying a house in Istanbul. Once you’ve decided on the place it’s your choice to choose to work with a reputable estate agent or do the search on your own. The process of buying a property is simple enough to complete all paperwork including payments, transactions, and get your title deed in a single visit to the Land Registry offices.
Potential traps
There are so many new apartments, residences or villas that have been built in Istanbul in the last 5 years that there were more homes to rent than people living in the city. A few of these buildings could be considered to be in a remote location from the city’s centre they don’t have accessibility to public transportation. It also offers flats at very cheap prices, but they aren’t likely to be considered to be an excellent deal.
It is important to pay close attention when looking up details about these locations along with their places of operation and potential from the real estate agents. There are plenty of great bargains in Istanbul which you shouldn’t leave as the city is a fantastic city to visit as well as a place to live and provides all the required services and opportunities available to its residents.
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