Istanbul is one of the top tourist destinations in the world. Home to many important historical monuments, it attracts millions of visitors every year. It’s also a great place for investment opportunities, as evidenced by all the new high-rises and luxury hotels that are popping up around town.
In this article, Alistair Lockhart, Director of The Turkish Property Agents will explore some of Istanbul’s best areas for investors and tourists alike!
Where to begin?
“Istanbul is home to many up-and-coming neighbourhoods that are perfect for investors,” says Alistair Lockhart. “The best part is that Istanbul’s real estate market has only just begun its rapid growth.”
Istanbul’s construction boom has created some very exciting projects. The third airport offers enormous potential as well as the future Istanbul Canal project.
The Turkish Property Agents’ Director, Alistair Lockhart, comments:
“Foreign investors are drawn to Istanbul due to its beautiful location and history. It was the centre of the world stage for many years, the fusion of Europe and Asia. But for some investors looking to purchase in Istanbul, figuring out which areas they should invest their money can be difficult. The choice and diversity of areas is overwhelming – much like any major city if you don’t know it very well.”
Here are our suggestions of the most popular areas to buy property in Istanbul according to price, investment potential, and location specifics:
New investors should consider Istanbul’s newest district, Beykoz. Located on the shores of the Black Sea and home to many luxury hotels, shopping malls, and restaurants that are still under development in fully built-out form.
Investors looking for an established area with a strong sales history will want to head south from the Taksim Square to the Anatolian side of town. Here, you’ll find Barosu Dere Sokak, a street with many boutique shops and restaurants that are popular among locals amid an up-and-coming district.
The Bosphorus Strait is home to some stunning scenery in Istanbul, and investors looking for coastal property should consider this area.
The district of Esenyurt is popular as it attracts many because of its proximity to the third international airport, one of the biggest and best in the world. The properties are also easily within budget for lower-to middle-income families who wish to own their first home or those looking at a second property investment opportunity with an excellent rental return potential.
Esenyurt has been steadily growing since 2010 when new infrastructure projects began development here. This region was traditionally farmland until construction on roads and highways increased demand from commuters now living abroad coming back into Istanbul’s main metropolitan area where they can enjoy all that this city offers them while still being able to escape quickly whenever needed thanks to easy access by road travel or air flights.
Developers are now eyeing up Bağcılar, the potential for future development is high. The area offers a look at Istanbul’s more attractive side and it has some of Turkey’s largest media firms as its residents.
Kadıköy‘s recent economic boom has attracted many new residents. This led to a population growth of over 20% in the last decade, and Kadıköy is now one of Istanbul’s most popular suburbs for both families and students alike!
Sarıyer is one of the most affluent neighbourhoods in Istanbul. The properties here are among the trendiest on offer and foreign investors can’t get enough either, given its proximity to both Galata Tower and Bosphorus River. It’s also home to many millionaires who have fallen for this district because of how it has quietly thrived off trading involving fabrics since 19th century – not bad!
Beylikdüzü is a mecca for foreign investors looking to purchase property on the Turkish Riviera. With 10,000 properties sold last year and modern apartments mixed with traditional homes, there’s something for every budget in this up-and-coming suburb!
Büyükçekmece, a suburb in Istanbul is located on the city’s European side. This affluent suburb has views of both over sea and land which means that it attracts wealthy retirees or property investors looking for prestige living with great amenities close by.
Overall, investing in Istanbul property now, at the very start of this residential growth cycle, is a great idea. There are properties in Istanbul for just about every budget and with the emerging new developments on the horizon there’s no shortage of options available!
The Turkish Property Agents offer a full range of advice to buyers, and we work with a network of bilingual, independent agents in Turkey. We also provide clients with regular updates about new properties for sale as they become available – so there’s never any need to worry that we might forget about you!
The Turkish Property Agents
71-75 Shelton Street, Covent Garden, London, WC2H 9JU
Email: [email protected]