Real estate in new builds from developers of Istanbul
Resale property from owners in Istanbul
Commercial property in Istanbul
Istanbul. Hot real estate deals
Real estate in Istanbul
Location, climate, economy, and infrastructure
Istanbul is a metropolis in Turkey, located in the northwestern part of the country on the coast of the Bosphorus (Strait), on the south side it is bordered by the Sea of Marmara.
The climate is subtropical with the influence of northern winds. In winter, the temperature is from +4°C to +10°C, rarely drops below 0°C, cool and humid, spring and autumn are mild, there is no depressing heat in summer, it is quite comfortable - from +19°C to +28°C, more than +30°C does not happen often.
The economy of the city is one of the most dynamically developing, with a diversified industry, based on such industries as: shipbuilding and engineering, chemistry, cement production, light products, printing, electrical, woodworking, paper and glass industries, electronics, olive oil production, tobacco, transport, trade and tourism (a popular "wedding" direction). There are also small businesses of small entrepreneurs in the city: souvenirs, Turkish sweets, clothing for general use, national costumes, etc. The stock exchange, banks, and insurance organizations are based here as well.
The city is the most important transport hub where railways and highways intersect. There is a seaport, an international airport and a bus station, there are many taxis in the city, public transport is well developed: trams, buses, minibuses, dolmushi, metro, electric trains, ferries, and funiculars.
Real Estate Market in Istanbul
The number of sales in the market has increased significantly, as well as prices. The fall of the lira against the euro and the dollar had an effect. The local population is forced to actively invest in real estate in Istanbul to keep them from inflation. In addition, the country as a whole and Istanbul in particular is a link between the continents of Asia and Europe. The proportion of young people is high (15.4% of the total population of the country), which is considered the highest in Europe. A significant proportion of young Turkish citizens increases the demand for the acquisition or leasing the housing. It is not difficult for foreigners to buy residential property in Istanbul, they have income above a certain level in hard currencies.
The price of real estate in Istanbul was affected by the outbreak of hostilities on the territory of Ukraine, followed by sanctions that changed the situation on the world market in the direction of increasing the cost of building materials, complicating transport logistics, etc. Turkey did not join the sanctions and passenger air travel continues. According to Turkish experts, Russians are among the leaders investing in real estate; the number of buyers from Ukraine and Belarus has increased. Most of the transactions are represented by residential real estate in Istanbul, 90% of them are apartments. Buying real estate in Istanbul for foreign buyers is an opportunity to obtain a residence permit or citizenship for investment. Feedback from buyers of housing in the residential complex confirms the proper quality in accordance with building standards.
Demand and prices are rising in the following areas: Kadikoy - on the Asian side, Silla - on the outskirts of the Asian side, Sarıyer - on the European side, Chatalca - on the outskirts of the European side. Since major projects (airport, canal, North Marmara Road) have attracted the attention of investors, in the rural areas of Yenikoy, Poyrazkoy, Taya Kaden, Dorso, the demand for land has grown, as well as for properties near the airport and North Marmara Road (Chatalja, Silivri, Arnavutka, Chekmekoy, Gebze), where many elite residential buildings were built.
The sale of real estate in Istanbul is regulated in detail by law, transactions are transparent and safe, however, in order to minimize risks when concluding transactions, it is advisable to use the information of experts and follow their recommendations. Investors can find help searching for property on a real estate website - GEOLN.COM.
Average property prices in Istanbul:
- apartment - from 150 thousand to 3 million USD or more,
- villa — from 400 thousand USD to 3 million USD or more,
- commercial premises (shops) - from 80 thousand USD,
- land plots - from 100 USD per sq.m.
Property types for sale
Real estate is represented by:
- primary and secondary housing, including apartments, duplexes, penthouses, cooperative housing, detached houses, farmhouses, mansions, and villas;
- commercial fund (warehouse, retail, office and other facilities);
- vacant land plots for building.
Buying a property in Istanbul provides for the opportunity to receive high rental income for a moderate price by European standards, living in a status city with a developed infrastructure and a favorable business atmosphere.
Real estate prices in Istanbul
| District | Price from |
|---|---|
| Yenimahalle Neighborhood | 1,860$ / m2 |
| Yenisahra District | 1,300$ / m2 |
| Yesilkoy Neighborhood | 888$ / m2 |
| Yildiztabya Neighborhood | 78,000$ / m2 |
| İnkilap Neighborhood | 2,280$ / m2 |