Istanbul is one of the best cities to invest in, whether you are interested in holiday homes, citizenship, or rental investment. If you are interested in investing in or buying a property in Istanbul and wondering where to invest or the best areas to invest, you can find the answers to your questions, in this article.
Introduction of the Areas
With Turkey, especially Istanbul, continually growing and changing with new developments, the best real estate areas to invest is increasing. It is common to ask questions about the best areas to invest in a property. Every investment area has different strengths and profit opportunities. To understand the areas better, you can find the most popular areas in Istanbul below.
Başakşehir – Bahçeşehir
Başakşehir, located on the European side of Istanbul, has become one of the most attractive areas to buy real estate for both local and foreign investors. Modern buildings have the highest standards of comfort and the social, cultural, health, and educational facilities that stand out in this investment area. Also, this investment area is the closest area to the Istanbul Airport. With the large housing estates with recreation areas, Başakşehir-Bahçeşehir is one of the best places to buy property in Istanbul.
The Basınexpress area, connecting E-5 and TEM Highway, is usually suitable for the buy-and-rent investment model rather than family residences. Basınexpress is known for its investment projects, such as apartments with hotel layout. Being close to major shopping malls like the Mall of Istanbul, hospitals, and universities make the location of this area important. Also, because the Basınexpress is very close to the Başakşehir – Bahçeşehir, it makes its location more attractive.
Beylikdüzü, located on the European side of Istanbul, is one of the beautiful districts in Istanbul’s outskirts with green areas and wide streets. Because there is a distance between Beylikdüzü and Istanbul city center, the Beylikdüzü is the area that has low-cost projects in Istanbul. Furthermore, Beylikdüzü is getting popular day by day and has become one of the most searched areas for investors. It is expected an increase in real estate prices with the completion of the metro lines.
Zeytinburnu – Coastal Line
This area has luxurious projects with a sea view and suitable for a luxurious lifestyle rather than investment. Zeytinburnu – Coastal Line is one of the most expensive and elite districts of Istanbul. Since it has a very advantageous location, it is one of the favorite areas for foreign investors.
Taksim – Mecidiyeköy
Taksim – Mecidiyeköy, located among the oldest districts, has the most expensive projects. This area has hotel themed luxury residences. Taksim – Mecidiyeköy is a couple of minutes away from the upper-class neighborhoods, such as Nişantaşı and Etiler. Because this area is located in a very central location, it is accessible from all areas.
Maslak – Levent – Kağıthane
Maslak, located on the European side of Istanbul, is the center of investment and one of Istanbul’s largest property development areas. Being one of the commercial hubs of Istanbul, there are many ultra-lux residences and skyscrapers. Kağıthane district has also gained popularity recently because of its convenient proximity to Maslak and Levent. Maslak is the most known for its residential complexes and shopping malls.
Istanbul’s Asian side has less foreigner population than the European side, and the Turkish citizens mostly prefer the Asian side. Due to the new projects, real estate prices increasing rapidly in recent years.
The Best Areas to Purchase a Property in Istanbul
Firstly, you should decide why you want to buy a property? Is it for living purposes or investment purposes? Then you can decide where are the best areas to purchase a property in Istanbul. All investment areas have different opportunities, and the prices can vary by district. Since Istanbul is the economic, cultural, and commercial center of Turkey, there is an increased interest in Turkey’s real estate investment, either obtaining Turkish Citizenship through property investment or profitable investment purposes. If you want to buy property for living purposes, you can search for districts on the European side, such as Beyoğlu, Şişli, Bakırköy, Beylikdüzü, Sarıyer, and Fatih. As for the Asian side, the best areas to live are Üsküdar, Suadiye, Maltepe, and Ataşehir. However, if you are interested in buying property for investment purposes, the best areas to invest in the European side is Taksim, Beşiktaş, Başakşehir, Beylikdüzü, Basınekspress, and Maslak. As for the Asian side, Kartal, Pendik, Çekmeköy, Ataşehir, and Üsküdar can be the best areas to invest.
The Benefits of Property Investment in Turkey
Turkey has grown significantly with its mega-projects and development investments over the last decade. Turkey has captured the attention of many international investors with these developments. Furthermore, the real estate sector is one of the most profitable investment sectors in Turkey. There are many reasons to invest in real estate, and investing in the real estate sector is always a profitable option in Turkey. To sum up the benefits of property investment in Turkey;
- Because of the investment incentives that the government offers, it provides great advantages to foreign investors.
- The investors can obtain Turkish Citizenship if they make a minimum of 250K USD of property investment.
- The investors have the option to re-sell the property after three years with high return profit opportunities.
- Affordable, high-quality lifestyle
- The real estate market benefits from the fast-growing economy
If you are interested in investing in Turkey and want to know why to invest in Istanbul, you can take a look at our article “Thinking of Investing in Turkey? Here are the Reasons and the Sectors” for more information.
How to Buy a Property in Turkey?
If this is your first time thinking of investing in a property, you need to know the basics of property investment. Searching specific steps and having an idea of the process of property investing is a good start. Buying a property in another country is a profitable investment. If you choose a local consulting company, they will help and guide you in the process of purchasing a property. If you want to learn more about the advantages of an investment consultant, go to our “Working with a Professional Real Estate Consultant – Advantages and Roles of a Consultant” article. The next step would be to discuss with your consultant to understand your expectations and the suitable projects for you. Visiting the project in person is important too. After you’ve chosen your property, let your investment consultant know so that they can guide you through the purchasing process.