Property For Sale in Istanbul
Property investment in Istanbul is one of the most profitable investment instruments. Once you consider the rental income and price appreciation of Istanbul homes, you can expect %8-20 of return of investment per annum. In real estate market, there are millions of property for sale in Istanbul. You as an investor/buyer are willing to find the best investment opportunity for yourself. In order to buy the best property for sale in Istanbul, you should understand and examine the logic of real estate in Istanbul such as location, apartment types and project features etc.
City Centre Properties For Sale in Istanbul
If you want to buy property in Central Istanbul, the areas that you should check out are Taksim, Beyoglu, Fatih, Besiktas, Maslak, Seyrantepe, Sariyer, Sisli in European Side and Kadikoy, Uskudar in Asian Side. Apartments in these areas are usually have the highest m2 price. But most luxury and best sea view apartments are also in these areas.
Maslak – Sisli Properties for Sale
Maslak and Sisli properties are usually towers with luxury units and social facilities. These 2 areas have an easy access to metro lines and main streets. Also, many shopping malls and financial centers are near to this area. For living the city life best and luxury life style at the same time, Maslak and Sisli towers could be one of the best options. In addition to this, if you are looking to buy apartment for renting out, these areas’ rental capability is very high.
Properties for sale in Seyrantepe Area projects’ has more social facilities and lower floor buildings although they are in central Istanbul. Apartments in this area has mostly forest view since it’s right near the Belgrade Forest. This area is started being built after 2010s that’s why urbanization in this area is very regular and well organized. Seyrantepe projects could be one of the best options for those who wants family life with social facilities in the city center.
Besiktas – Sariyer Area
Besiktas and Sariyer is the closest areas to bosphorus(sea). These 2 areas also the locations where many restaurants, cafes and sea side walking paths are. On the other hand, since its very near to Bosphorus there is construction ban in the front line of these 2 areas which has the most beautiful sea view. People who wants to buy property in Sariyer and Besiktas area either can choose and old apartment near by the sea or new buildings on the hills of these areas.
Another feature of Besitas and Sariyer areas is that European Side Yali properties are in these areas. Yali means the villa type of properties that has a shore to Bosphorus. This type of properties are located both sides of Istanbul and they are one of the most expensive properties in the world since they are very few in number. Nevertheless, if you would like to buy a Yali property, the minimum amount that you should pay is around 30m Turkish Lira.
Taksim – Beyoglu – Fatih Areas
These areas where Taksim Square, Old town, Eminonu, Halic (Golden Horn) and other touristic places are. Since it’s mostly historical and touristic area, new projects in these areas are very few. On the other hand, there are historical and conceptual locations that apartments are renovated from inside. Cihangir area in Beyoglu and Balat area in Fatih can be examples of these areas. If you buy property from Cihangir or Balat area, you will be enjoying old Istanbul’s touches within the city center.
Kadikoy – Uskudar Area
Kadikoy and Uskudar areas are the central areas in Asian Side of Istanbul. These areas also right nearby Bosphorus. Kadikoy area is one of the places with most of the new projects and buildings. Also, when you compare the prices with European side, property prices are slightly cheaper in this area. You can enjoy Bagdat Street and coast road if you are a property owner in Kadikoy area.
Uskudar area has also new projects as well as old ones. Uskudar area is the location that you can have the best sea view from Asian Side. Another advantage of Uskudar area is that the ease of access to the European Side. Since it is located between 2 boshporus bridges and has ferry line, you can reach to European side within minutes.
After you decide on the location, another thing that you should consider will be the apartment types. If you are looking for a residential property for sale in Istanbul, you will mostly have options from studio apartment to 5-bedroom apartment. Of course, there are 5+ bedroom apartments existed but not very common in central projects. It doesn’t such a thing as “correct type of apartment” but there is “choosing the right type of apartment in right location or project”
For instance, in a project near to universities it is not right to choose bigger apartment than 2-bedroom apartments by considering that place will be rented out by university students mostly. Or in a touristic area it is better to buy studio or 1-bedroom apartment by considering short-term rental opportunities. On the other hand, if you prefer to buy property at a far location from central Istanbul, choosing bigger apartments such as 3-4 bedrooms would be better because residents in that areas are mostly families with children.
Property Status and Features
Property status and features are another important elements once you search for property for sale in Istanbul. First of all, if you are looking to buy property in Turkey for Turkish Citizenship, you should consider the status of the property is suitable for Turkish Citizenship. You can have detailed information about what makes a property to suitable for Turkish Citizenship by our Requirements for Turkish citizenship page https://century21sinerji.com/requirements-for-turkish-citizenship/. Additionally, you should pay attention about the tittle deeds as well. Even though the tittle deed is ready for the apartment, you must be sure about that there isn’t any debt on the tittle deeds.
Project features also important when you consider the investment value of the property that you bought. Most of the new projects have social facilities but beyond this, maintenance fee (aidat) could be too high which decreases your investment’s value. That’s why it’s important to ask about maintenance fee up front. Another thing that must be paid attention is the number of the parking lot per apartment. Sometimes in boutique central projects the number of parking area doesn’t cover the number of apartments and becomes disadvantage for tenant candidates who has a car.
As a summary, it could seem very confusing and difficult to look for the right investment in a huge city with millions of properties for sale like in Istanbul. If you start searching you will understand that there is a logic in Istanbul real estate market. It can take some time to get started to understand that logic. Once you are familiar with the market, you will see that steps that you need to pay attention for old studio apartment and luxuries villa with lake view are the same.
We as Century21 Sinerji, with our 10 years of experience and +3000 happy clients are ready to help you to tell you more about the market to expand your horizon and help you to make the best investment in Istanbul.
Click: Istanbul Property Market