Last Updated on 08/04/2023
Knowing where to buy a house in Istanbul is crucial to making a successful investment in Turkey real estate. In fact, the city continues to grow because it is Turkey’s largest metropolis in terms of population, infrastructure, business, tourism, education, and health care. It also displays new trends and developments on a daily basis. So, if you’re thinking of buying a house in Istanbul, know that you have 39 districts from which to pick. Indeed, considering the various options they present, this could be beneficial. However, it may be perplexing, particularly for foreigners unfamiliar with the city.
But don’t be concerned. We’ll do our best to sate your curiosity and clear your mind of all doubt. Continue reading.
How to buy a house in Istanbul
The investigation and closing stages of buying a property in Istanbul might occur within a week. Although it is possible to complete the task in that short period of time, we advise giving yourself at least three to six months to make the greatest choice regarding the ideal home that will serve as your best investment. Yet, if you would like to know more about the whole process of buying a property in Turkey, we recommend you to check this ultimate guide.
How much does it cost to buy a house in Istanbul
The price of property in Istanbul and in all Turkey depends on many factors mainly the location and the size of the house you would like to buy. Moreover, other factors such as the year of construction, the view and the floor have an impact on the cost too. Yet, we would like to give you an informative idea about the average cost of buying a property in Turkey.
The average price per square meter of residential real estate in Turkey reached $675 in October 2022.
Residential real estate increased in price by 199% year-on-year, while the return on investment period grew up to 19 years.
Istanbul Best areas to live
The European side, the favorite area for foreigners to buy a house in Istanbul
Sarıyer-Beşiktaş
Those who dream of buying a house in Istanbul with the prominent Bosphorus view should consider districts situated on the line of the strait from both sides. In fact, the city is developed around the Bosphorus, creating thus many options with the Bosphorus view. Yet if they prefer the European side, they should think about districts such as Sarıyer and Beşiktaş.
Beşiktaş is well-known throughout Turkey for its prestigious reputation as a residential area. It is also perfect for families and workers due to its domestic ambiance and proximity to the Levent district. Beşiktaş has it all, including a well-developed transportation system, shopping opportunities, and nightlife. Furthermore, its attractive houses with a spectacular Bosphorus outlook must be mentioned.
Sarıyer is Istanbul’s most northern district, located on the European side of the Bosphorus. It’s an A+ neighborhood with a cosmopolitan population that includes politicians, artists, and the city’s wealthy class. That’s why investors interested in Sarıyer properties for sale should expect relatively high prices compared to any other district in Istanbul. Furthermore, apart from its touristic and investment potential, the Sarıyer area also has historical value, thanks to several antique Ottoman buildings, such as Rumelihisar.
Moreover, Sarıyer neighborhood is suitable for buying a house in Turkey as it is the safest place in terms of earthquakes.
Maslak – Levent – Kağıthane
Maslak is a significant investment hub and one of Istanbul’s most active real estate development zones on the European side of the city. It is regarded as one of the best places to buy a house in Istanbul, particularly for investors interested in high returns. In fact, they can find many ultra-luxury residences and business structures for both living and investment. Moreover, Kağıthane has also grown its popularity due to its improving infrastructure and urban regeneration projects. It is also regarded as a central district because it is adjacent to Maslak and Levent.
Beylikdüzü
Foreigners who would like to buy a house in Istanbul in a seaside location should consider the Beylikdüzü area. Thanks to the new high-quality buildings, it attracts buyers with attractive investment and capital appreciation potential. Moreover, Beylikdüzü includes budget-friendly properties since it is on the city’s outskirts. However, it is very practical to reach the center in a few minutes with the developed public transportation alternatives.
Basın Express area, an optimum investment destination
The Basnexpress area, which connects the E-5 and TEM Highways, is more real estate investment-oriented rather than family dwellings. To be clear, the region is highly recommended for foreigners looking to invest in Istanbul real estate and make a significant profit. Many investment options are available, including hotel-style apartments with guaranteed rental revenue or a pool sharing scheme. Furthermore, the area’s location is promising, as it is adjacent to large shopping complexes, hospitals, and universities. All these features make it preferred by many foreigners who want to buy a house in Istanbul.
Zeytinburnu coastline
Contrarily to Basın Express, the Zeytinburnu area is more suitable for foreigners who want to buy a house in Istanbul for living purposes. In fact, the district includes high-end projects with sea views. In fact, the coastal line between Zeytinburnu and Bakrköy is one of Istanbul’s most prosperous and exclusive neighborhoods. Thus, wealthy international investors prefer to own a house in this area thanks to its peaceful atmosphere, outstanding view, and high standard. Therefore, compared to other districts, property prices in this area are relatively expensive but so is their value.
Buy a property in Istanbul’s Asian side
Previously, only locals favored the Asian side of Istanbul, while foreign buyers chose the European side. Yet, international buyers have recently begun to pay attention to the Asian side due to its developing districts and rising worth. As a result of the increased demand, real estate prices have risen dramatically.
Üsküdar
Üsküdar district, known for its iconic Maiden Tower, is a peaceful residential area along with the easter coast of Bosphorus, preferred mainly by locals. Moreover, It is one of the top touristic neighborhoods in Istanbul with many attractions.
Beykoz
Beykoz is a district on Istanbul’s Anatolian side, flanked on the west by the Bosphorus and the north by the Black Sea. The area is highly forested, with a long stretch of the Bosphorus coastline where numerous medieval dwellings may be found. Foreigners who want to buy a house in Istanbul in a peaceful neighborhood should consider Beykoz.
Kadıköy
Kadıköy district has been one of Istanbul’s most attractive real estate investment areas. Being home to elite wealthy society and famous people is one reason that made it one of the preferred residential areas, especially for foreigners who want to buy a house in Istanbul.
Moreover, Kadıköy has been undergoing a huge regeneration not only by the government but also by the property owners who renovated their old buildings with new high-quality finishes.
Thus, the district started to host several new projects with high standards, making the price of properties for sale in Kadıköy increase remarkably.
In fact, the government chose the Fikirtepe neighborhood as one of the first areas for its significant urban reform initiative. Since 2013, it has been the complete urban regeneration project site. The government intervened in demolishing old, vulnerable structures and their replacement through a major urbanization plan. As a result, the neighborhood began to house a slew of opulent apartment complexes and high-end buildings owned by local and international investors. Therefore, it has become a popular area for investors looking to buy a house in Istanbul.
Reasons to buy a house in Istanbul
Istanbul has been the backbone of the Turkish real estate market. It is always on the top of the list with the most significant share of property sales in Turkey. In fact, foreign investors always prefer to buy a house in Istanbul for many reasons. We all know the particular location of Istanbul, lying on two different continents separated by the iconic Bosphorus Strait. Moreover, the Turkish government makes big investments in the country’s infrastructure. And Istanbul has the biggest share of these projects, being the biggest and the most populated city in Turkey. In fact, Istanbul has a very successful transportation web with its developed lines and iconic bridges and tunnels. Moreover, families worried about their children’s future chose Istanbul since it’s the best city for international students.
Furthermore, compared to the world’s biggest cities, Istanbul’s living cost is still reasonable, especially for ex-pats whose income is in foreign currency.
All these reasons encouraged the international investors to buy a house in Istanbul when they consider investing in Real estate in Turkey.
If you want a clearer idea about the real estate investment in Turkey, check the house sales overview in March and April 2022. Moreover, MEO Consultants offer you a complete advisory if you still need further details. Learn more about our services and get a free-risk consultation.
FAQ
Which part of Turkey is best to buy a house in?
Homes are typically purchased in Istanbul, Antalya, Kemer, Alanya, Bodrum, and Fethiye.
Is buying property in Istanbul a good investment?
Property can be purchased in Turkey with ease Thanks to its robust and the government’s efforts to make the country a desirable location for business and investment.
Which city in Turkey is best to buy property?
Purchasing a house in Istanbul is one of the greatest options if you want to invest in Turkey.
