10 Areas preferred by foreigners to buy real estate in Istanbul- part 1
Despite the conditions that the countries of the world are going through due to the continuation of the Corona pandemic, as most flights to Turkey are still suspended in some countries, the desire to buy real estate in Turkey still exists, as Istanbul real estate witnessed a great demand from foreigners in the first months of 2021, according to data issued by the Real Estate Registry Department in Turkey, foreigners' purchases of real estate in Istanbul increased by 48%.
Iran ranked first in real estate investments in Istanbul for the total number of foreign investors in Turkish real estate, followed by Iraq, Afghanistan, China, Yemen, Palestine, Egypt, Pakistan, Russia and Azerbaijan. As for the area that corresponds to the total share in Istanbul, Yemenis ranked first.
As for the number of homes that were sold in Istanbul in the first quarter of 2021, according to the Turkish Statistical Institute TURKSTAT, about 5024 housing units were sold in Istanbul, while Antalya ranked second, with 1884 housing units sold, and the capital, Ankara, ranked third, where 642 housing units were sold to foreigners, and a total of 9887 housing units were sold throughout Turkey.
EVA Real Estate Appraisal in Turkey states that the share of Gulf countries in total foreign investments has decreased, reaching 24% in the first quarter of 2020 and declining to 18% in the same period of 2021.
10 areas preferred by foreigners to buy real estate in Istanbul
The first area that may come to the mind of a real estate investor or who wants to buy a property in Istanbul is Sisli.
Because it is a central area that is one of the oldest areas of Istanbul and includes the most famous and most prestigious neighborhoods of Istanbul, such as Nisantasi and Bomonti. Sisli is also characterized by the presence of the most luxurious international hotels such as the Hilton and the Ritz Carlton, and tourists choose it, as there are many shopping centers and boutiques of the most famous international brands, such as Zorlu Center Mall, Istinye Park Mall and Cevahir Mall.
Real estate in Sisli varies between residential properties, investment properties, and commercial properties. Sisli is also a business center, as it includes many high towers, some of which feature views of the Bosphorus or the charming panoramic city of Istanbul.
Sisli is also considered one of the most fully serviced areas in terms of transportation, and it includes many infrastructure projects such as tunnels and bridges that facilitate access to and from the area, in addition to a number of universities that provide the best educational services, luxurious hospitals and other basics that the population needs it.
The most important factors that make Sisli a highly desirable area is that it is the best option for investment, as it includes relatively few new projects, and therefore real estate prices are constantly rising, demand is high and supply is low.
Beyoglu district is considered the historical heart of Istanbul and an investment center par excellence, as it includes many famous tourist attractions such as Taksim Square, Istiklal Street and Galata Tower, which is the first destination for tourists from all over the world. In addition, Beyoglu district is characterized by its proximity to the Bosphorus, and the infrastructure in the area is old and original, as it includes the oldest metro in the world after London Metro, which is located in Taksim.
As for transportation, Beyoglu district includes a huge network that connects all areas of Istanbul to each other, and the metro and metrobus line passes through it.
Beyoglu district is a lively area that includes many arts and entertainment center, restaurants and cafes. It is characterized by its ancient cobbled streets that take you to historical places when you walk and see the ancient buildings.
As a result of the great demand for real estate in Beyoglu area, the supply is growing exponentially, as new projects are constantly growing in the area, the option to buy an apartment under construction is available, and the option to buy an apartment in a project that is about to be delivered and use it for housing or rent it is also available, you only need to fill in your application through this link, our advisory team will contact you and provide you with all the details with a free consultation: Contact us
Buying an apartment in Beyoglu and investing in it promises huge profits, like investing in tourist rental, for example, it is the perfect alternative to overpriced hotels in tourist areas, where the price per night per person in a high-end hotel in Beyoglu ranges between $150- $200, and thus you will get investment returns that are very close to those of hotels.
All foreigners have even a simple knowledge of Zeytinburnu area on the European side of Istanbul. The area has gained a wide reputation and fame, and it has charmed them with its very luxurious projects with direct views of Marmara Sea. We had mentioned in a previous article that Zeytinburnu is considered one of the best areas for investment, because the supply is low and the demand is high. Therefore, it is classified as a promising and distinctive investment area, where there are a number of projects with direct views of Marmara Sea, which include luxury, sophistication and spacious apartments.
The newly built seafront of Zeytinburnu is located near the ancient walls of Constantinople, this combination of past and present, tradition and modernity, is a great attraction for foreigners to this area.
Marmaray Metro line, which connects the European side of Istanbul with the Asian side, passes through the area, specifically near the real estate projects in Zeytinburnu, which makes it the focus of attention for foreigners wishing to invest or live. Providing a means of transportation near your home in a big city like Istanbul will greatly facilitate your transportation, and significantly increases the quality of your life.
The investment importance in the area lies in the fact that the new projects that are under construction are rather few, so the prices are constantly rising.
The project, which won an international award for the best engineering design, as all apartments in the project have a partial sea view of the entrance to the Bosphorus and enjoy watching the ships anchored at the entrance to the strait. It is a painting that is renewed throughout the year that will never make you bored.
Also, the interior design in terms of the gardens and the shopping malls is very organized and smart. It is worth noting that the interior shops in the project are intended only for the residents, which gives you a feeling of privacy and security, as you can send your children to shop under the care and control of the security of the complex.
The benefits of the distinctive engineering design here are not limited to the design only, but to the content, as all the walls are designed in the form of double glass for the purpose of insulation and aesthetic view, as well as durability, as the glass walls will not suffer from humidity and corrosion problems that afflict concrete walls after several years.
What distinguishes Kagithane district is its proximity to the center of Istanbul, so it is of investment importance and buyers desire as it is the cheapest alternative to the center of Istanbul, and the investor can achieve monthly and annual returns if the property has the elements of a profitable investment.
Kagithane district is a newly developed area, where it is being reconstructed in a way to suit its neighboring luxury areas such as Sisli and Maslak, and the infrastructure is being developed in the area and the transportation network, metro lines and tunnels are being expanded, so it is expected that the area will have a promising future.
Kagithane area, unlike the previous areas, does not include many tourist attractions and is not located near the sea or the Bosphorus. As we mentioned at the beginning, it is the closest area to the city center and the real estate prices are appropriate.
To know more about real estate investment in Kagithane read the previous article
Bahcesehir district, where nature, calm and peace and high-end housing, where Gulet Park with its lakes decorated with ducks and fish, and luxury restaurants and cafes, is the preferred area for foreigners to live.
Bahcesehir or Garden City is one of the safest and quietest areas in Istanbul. It is suitable for families, as it has international schools and language institutes. It also includes Akbati Mall, which is one of the main destinations for tourists in Istanbul.
Bahcesehir has gained investment importance due to its proximity to Canal Istanbul, the huge project that Turkish government is implementing and supervising. Learn about Canal Istanbul project and its impact on real estate investment
Residential projects in Bahcesehir vary between apartments, villas and hotel apartments under the name of the most famous international brands such as Sheraton.
* As for the hotel apartments, Istanbul includes many projects supervised by famous international hotels such as Wanda Vista, Rotana, Divan and others, and they are distributed in various areas of Istanbul, you can contact us and learn more about it.
Most of the projects in Bahcesehir are ready for housing, so it is a residential area with distinction, but it can have investment opportunities with an acceptable return.
In general, Bahcesehir is a quiet residential area with abundant green spaces. It is a newly built area close to Istanbul's new airport, far from the city center, highways are easily accessible, and it is suitable for budgets starting from 70 thousand dollars.