According to PriceWaterhouseCoopers consultation company, in 2012, Istanbul was the leading city in the list of European cities suitable for investing in the construction industry. The metropolis continues to expand: every year the city grows with 20-30 new streets, vacant lots are being developed, suburbs are joining.
The middle class, which provides demand for real estate in Istanbul, is 40% of the 15.5 million inhabitants. Thanks to this, you can buy apartments for sale in Istanbul inexpensively and earn by reselling it in the secondary market or renting it out.
An apartment in Istanbul is worth buying for the following reasons:
Istanbul has many new buildings in old villages and where there used to be old unstable houses. The cost of housing depends on the location and the quality of the rooms. On average, for one m² you will have to pay € 800. Apartments on the secondary market and in new buildings are the same.
For € 60-70 thousand, you can find a good option on the outskirts of the city. Istanbul real estate prices in the centre of the metropolis start at € 80 thousand for a one-room apartment in an old building.
Apartments in a prestigious area will cost € 120-250 thousand. The cost of apartments in luxury residential complexes is € 300-600 thousand.
A townhouse costs more - from € 150.000 to € 260.000, and a small villa will cost € 160 thousand. The price of elite three-story cottages with sea views can reach up to € 1.8 million.
To build a house according to your design and specifications, you can buy a land plot. The cost of 1 m² is about € 295.
The prospects for real estate investments depend on the quality of infrastructure, transportation, and seismic risks. Therefore, before buying an apartment, you must choose the right area.
Besiktas is a district on the banks of the Bosphorus where is home to palaces and skyscrapers of the European part of Istanbul. It has many areas within it, such as Levent, Bebek, Ulus, Ortakey, etc. The price of 1 m² is about € 5,000.
Levent has the most significant number of company offices. The highest Turkish skyscraper in Istanbul( Sapphire Istanbul) is built there. It has 54 ordinary and several underground floors.
People working in Levent choose properties in Etiler, as there are apartment buildings near sports halls, cafes, shopping centres.
With many types of transportation, you can go from Besiktas to any part of the city. The only drawback is there are no railway stations nearby. The only means of transport is the ferry and Metrobus. If you take the Metrobus, you will need to walk up to 20 minutes down the street.
Beyoglu is an elite district connected to the European part of the metropolis by the Galata Bridge. From it to the Galata tower, the metro line Tunel was drawn.
The consulates of Russia, Netherlands, Great Britain, Germany, Sweden are located in Beyoglu. Along the roads are buildings with expensive shops and supermarkets. There are also many banks and museums in this part of the city. Istiklal Caddesi is the central street of Beyoglu. In addition to shops, there are also many bazaars, bars and restaurants.
Hotel Pera Palas - was opened in 1892 in Beigola for tourists from the Orient Express. Greta Garbo, Sarah Bernhardt, Mata Hari, Kemal Atatürk stayed at the hotel, and Agatha Christie once wrote the novel “Murder on the Orient Express” in this hotel.
The residents of Beyoglu are migrants filled with creative, intelligent and young people. Apartments in the area are suitable for rental. If the residential complex has a pool or a gym, the price increases because landlords must pay monthly fees for security, maintenance, and cleaning.
Sariyer is part of the metropolis near the Bosphorus. Only rich people live in this area. Also, once the famous writer, Orhan Pamuk used to live here.
There are many beaches in Saryier where you can sunbathe. But you should not go into the water, because it is polluted with waste from various industries.
This lovely neighbourhood near the Bosphorus is a fabulous choice, because of the beautiful view, and people with high income(business people, politicians, singers, actors ) often buy villas and summer residences.
There are areas where the cost of housing is lower than Besiktas, Beyoglu and Sariyer. One of them is Fatih. It is located relatively near the International Airport, Ataturk and Sirkeci Stations. Here you can see the Anatolian fortress, the Chora Church, the Suleymaniye and Sultanahmet mosques, the Sehzade Mosque, the Pammakarista Church which is also known as Fethiye Mosque and others.
Fatih has three quarters:
The most ancient metropolis area is known as Kadikoy was founded in 680 BC on the Asian side of Istanbul.
On the streets of Kadikoy, there are many high-rise buildings, retail outlets and entertainment centres.
Sometimes the peace of the locals is disturbed by the noise from the side of the Fenerbahçe Stadium, heard during sporting events, despite this, the streets are quiet and safe.
There is a ferry from Kadikoy to the European side of Istanbul. In the area, there is the Haydarpasa station, connecting the metropolis with the Asian part of Turkey. Because the Asian side of Istanbul is less crowded, you have easy access to the Sabiha Gokcen international airport.
The primary way that people can come to the Atasehir district is by car. Public transport rarely travels there, but underground and secure outdoor parking is provided. There are no private Istanbul homes in this part of the city and residents settle in new high-rise buildings. In addition to shops and educational institutions, Atasehir has many business centres.
Kartal is the place where most of Istanbul's factories are located. It employs more than 400 large and medium-sized factories and 1300 small industries. Every year, new houses are being built for workers and their families. Villas and residential complexes for high-income people are built on the coast.
Because of the abundance of clothing stores and food outlets, the Bakirkoy region which overlooks the Marmara sea is always crowded. Although it is far from the centre of Istanbul, you can go nearly anywhere in this city thanks to its transportation system. For foreigners, there are 50 schools in Bakirkoy that teach the Turkish language.
Residential buildings have been built in Kucukcekmece since the 1980s, and due to ongoing renovations in the city, there are no old buildings. For families that have children, there are two entertainment centres called Star Park and Florya luna park. Despite this, the infrastructure in the region is not well developed, but it shows promise in the development of business.
Beylikduzu is a district of new and modernized houses. The infrastructure in this part of the city is well developed and consists of many kindergartens, hospitals, parks, three universities, shopping and entertainment centres and restaurants. You can drive to the central part of the city from Beylikduzu in 10-15 minutes.
The only disadvantage that this place has is its high probability of an earthquake.
The authorities are doing everything to ensure that the lives in Beylikduzu are safe by rebuilding old buildings and supporting newer buildings to these possible earthquakes.
Istanbul attracts not only tourists but also new residents. As a conclusion to all of this, the cost of real estate in Istanbul will increase, and we highly recommended that you invest in buying an apartment in any part of the metropolis.