Buy Property in Istanbul: Real Estate Investment Guide
Buy Property in Istanbul: Real Estate Investment Guide
Turkey is one of the biggest countries in the Eurasian region with 783.562 km² area offers thousands of opportunities to investors who are looking for profitable investment, especially in Istanbul. Buying a property or real estate in Istanbul is one of the most profitable and logical investments in Turkey during these times. Turkey has lots of unique features and offers many opportunıties for entrepreneurs and investor. In this real estate guide, we summarized everything you need to know and why to buy property in Istanbul. So, let’s start!
Country Profile: Turkey
Before buying a property or any kind of a real estate in any country it is the first thing to learn the country profile. Turkey or with its official name The Republic of Turkey is the 17th country by its population more than 80 million people who are living over 783.562 km² area. Turkey is a leading country with its population and area but not its density. Turkey is on the 103rd position by the density with 108/km² people that shows basically there are tons of lands to invest. As you can see from the map below, Turkey is located on a very strategic location, a connection between Europe and Asia, Eurasia.
The most populated cities of Turkey mainly located on the western part of the country. However, you can find the top 10 populated cities in Turkey below. Istanbul is the most crowded city in Turkey.
- Istanbul: 15,519,267
- Ankara: 4,871,884
- İzmir: 2,938,546
- Bursa: 2,074,799
- Adana: 1,753,337 15
- Gaziantep: 1,663,273 16
- Antalya: 1,311,471 17
- Konya: 1,130,222 18
- Kayseri: 1,123,611 19
- Diyarbakır: 1,047,286
When it comes to investing, the population is one of the most important parameters. For Turkey, the answer is definitely Istanbul. With its over 15 million people, Istanbul is the city where most of the government taxes collected and the hearth of many important projects such as Yavuz Sultan Selim Bridge, Avrasya Tunnel, Istanbul Grand Airport and more. The city is also one of the touristic centre both Turkey and the world. Based on last years statistics, Istanbul attracted more than 13 million of tourist all over the world. Considering all these factors together, Istanbul stands out as one of the most important investment hubs for investors, especially for buying property or real estate.
Economy Summary of Turkey
With its growing economy especially from a couple of last decades, Turkey became a safe heaven for especially for the foreign investors. Based on Foreign Direct Investment Report about Turkey you can see that during the last ten years the countries became the home of the billions of dollars worth investments. The property and real estate investments constitute a large part of the this FDI, more than 45 percent. The biggest reason for this is the direct support and encouragement of the Turkish government. Investing property and real estate sector is a locomotive for Turkey because of its support for hundreds of subsidiary industries all over the countries where thousands of people work. One of another proof that the support of the government on the real estate investment is the citizenship opportunity over the worth of 250.000 USD.
Istanbul: The Hearth of Investments
Ankara is the capital of the country and the central government but Istanbul is the hearth of finance and life. Istanbul is not only important for Turkey but also for the entire region. Because, as we mention above Istanbul is the centre for both economy and tourism which bring opportunity for any kind of entrepreneurs. When it comes to buying property or real estate in Istanbul districts becomes the distinctive. You can check the aerial images of Istanbul from 1984 and 2019 to see changes all over the city. Independent from the districts of Istanbul, every one them developed within last 30 years and continuing to grow.
Settlement Layout of Istanbul
Before buying any property or real estate from Istanbul you should know the character and layout of the city. Where are the business areas, most populated districts, most expensive apartments, homes, villas and more? Of course, we should need to talk this one-on-one with you and analyze every district based on budget or expectation but check below to general information. Also, know that the Asian and European sides of Istanbul have totally different characters.
- European side: Business centres, high-value properties and real estates
- Most important districts: Levent, Bomonti, Basin Express Avenue
- Asian side: Living districts, low-mid value properties and real estates
- Most important districts: Fikirtepe, Atasehir, Maltepe
Where to Buy Property or Real Estate in Istanbul?
Before diving into the details of buying the property or real estate in Istanbul please know that wherever you buy it, you will definitely make a profitable investment for you for the future. In this part of the property and real estate guide for Istanbul, you may find brief information about the top 6 districts in Istanbul, 3 from European and 3 from the Asian side. For those 6 districts, you can find the average rent and sale prices for per m² for each district. You can basically calculate your own return of investment value for each district.
|Average Rent (per m²)||Average Sale (per m²)|
|Atasehir||10 $||3000 $|
|Basin Express Avenue||8 $||1500 $|
|Bomonti||20 $||4000 $|
|Fikirtepe||6 $||1500 $|
|Maltepe||4 $||1000 $|
|Levent||30 $||10.000 $|
Basin Express Avenue
The main avenue between the Istanbul Ataturk Airport (closed in 2019) and the Mall of Istanbul is the Basin Express Avenue. There are lots of properties and real estates on both western and eastern side of the Basin Express Avenue. The average sale price for the Basin Express Avenue is around 1500 $ per m² in 2020.
Just over one of the main metro line between Haciosman and Yenikapı (M2), Bomonti is a very attractive and luxury district of Istanbul. Bomonti is also very close to Taksim and Cevahir Mall as well as Nisantasi, Macka and Sisli. The average sale price for the properties and real estates located in Bomonti is around 4000 $ per m² in 2020.
The oldest and the densest business centre of Istanbul is definitely Levent. Levent is located between the main highways of Istanbul connecting the 15 July Martyrs and Fatih Sultan Mehmed Bridge. However, most of the headquarters of a major bank, business and companies located in Levent. For 2020, average sale prices per m² are around 10000 $, the highest in not only Istanbul but also Turkey. You can find 3 of the projects from Levent below.
The old and a regular district of the Asian side of Istanbul, Atasehir is also a developing business hub of Istanbul. Especially from the last decade, Atasehir is growing exponentially. With the average sale price of 3000 $ per m² which is the highest one for the Asian side of Istanbul. You can find 3 of the projects from Atasehir below.
If you are looking for a fast-growing district full of opportunities the answer is definitely Fikirtepe. Fikirtepe is an old slum of the Asian side of Istanbul but became one of major major business and settlement zone of the city. This year, the average sale price is around 1500 $ per m² and probably will double in the next couple of years. You can find 3 of the projects from Fikirtepe below.
The Asian side of Istanbul has cheap but fast-growing districts. Maltepe is one of them. Over the main highway of the Asian side of Istanbul, E-5. Maltepe is also on the Kadikoy-Tuzla metro which makes the Maltepe very easy to reach. The average sale price of the Maltepe is the cheapest in Istanbul and around 1000 $ per m² for 2020. You can find 3 of the projects from Maltepe below.
Buy Property and Real Estate in Istanbul
As you can inherit from this property and real estate guide for Istanbul you are facing against a major change for invest and profit. Istanbul is a huge city with a rapid growing economy and population. The needs of the property and real estate is Istanbul in an increasing trend for more than decades. If you have any question on your mind please use the contact form below to reach us. However, you can check the property and real estate list for Istanbul to find the correct commodity.