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Property in Istanbul

Istanbul real estate is in demand on the international market. The unique position at the junction of two parts of the world, rich history and architecture, a mixture of many cultures attract millions of tourists and entrepreneurs. The city is a major economic and cultural hub, therefore buying a property in this city can bring significant profit. Istanbul is a popular destination for property investors interested in capital gains or rental income. Despite the fact that the cost per square meter here remains relatively low compared to other metropolitan areas in the world, it is rapidly increasing. By the beginning of 2023, the average price per square meter here reached $1,432, although back in August 2022 it was $835.

Property for sale in Istanbul, Turkey

Apartments and villas in Istanbul are in high demand among investors, home buyers and tenants. They attract buyers and tenants with quality designs as well as a wide range of amenities and services, which include swimming pools, gyms, concierge service, 24-hour security and many other options.

Most of foreigners seeking to purchase Turkish premium properties choose Istanbul. The local infrastructure is actively developing - new schools, airports, bridges appear in the city, and the Istanbul real estate market is replenished with residential and commercial projects. Buyers can choose between studio units, apartments, penthouses, villas and other types of housing.

An additional benefit that attracts foreign buyers is the opportunity to own freehold local real estate. This distinguishes Turkey from many other Asian and Middle Eastern countries. The Turkish government is interested in attracting foreign investment, so foreigners can also expect to receive citizenship by property investment. To do this, they must invest at least $400,000 in the Turkish housing.

Lifestyle in Istanbul

Istanbul offers a huge cultural diversity. Every neighborhood has entertainment options for all tastes, from museums and unique historical sites to fashionable boutiques, contemporary art galleries and fine restaurants.

The most important sight of the city is its historical center, partly included in the UNESCO list. Known for its prestigious hotels and diverse retail outlets, Taksim Square is a spot where you can meet people from all cultures and religions. The Grand Bazaar offers tourists exotic oriental carpets, aromatic coffee and silk. And in the evening, Istanbul transforms as entertainment districts and waterfronts fill with people, and the word largest night clubs welcome thousands of locals and tourists every night.

On the other hand, Istanbul is one of the fastest growing metropolitan areas in the world and a major economic and business center. Many Turkish companies are headquartered here, and according to experts, the city accounts for 30% to 40% of the country's gross domestic product. Thus, the city successfully combines tourist attraction, an abundance of entertainment venues and a vibrant lifestyle.

The most popular neighborhoods in Istanbul include:

  • Beylikduzu with modern houses and luxurious lifestyle;
  • Fatih with many attractions and green spaces;
  • Besiktas with prestigious hotels and population of 200,000;
  • Basaksehir with developed infrastructure and exceptional services;
  • Silivri with well-maintained beaches and a diverse range of residential properties.

Below are the average property prices in Istanbul, Turkey.

Property cost in Istanbul

Foreigners can legally buy property in Istanbul without being a Turkish resident. You can purchase units of any type: secondary or off-plan housing, residential or commercial units. However, applicants for citizenship by investment in real estate cannot buy properties that have already been involved in the program.

According to the latest data residential property in Istanbul for foreigners costs an average of $130,000.

You can check out the current cost of housing in Istanbul in our property database, where prices for the best properties for foreigners in Istanbul are offered in euros and dollar.

Investment property in Istanbul

Now is a good time to invest in real estate in Istanbul. As of October, since the beginning of 2022, the rental rate in the city has increased by 145%, and the value of real estate - by 241%. In addition, Istanbul is a popular tourist destination. For instance, in 11 months of 2022, 14.7 million holidaymakers visited the metropolis. Many of them prefer to rent apartments and villas and keep the demand for local property high. Investors interested in local real estate can expect not only stable rental income, but also capital gains. Therefore, buying a home in Istanbul for investment purposes will be a smart step.

We will help you buy property in Istanbul

Finding suitable residential and commercial units in Istanbul can be a daunting task for buyers who are not familiar with the Turkish real estate segment. To find your dream holiday home, investment or buy-to-live option, check out the information on the Turk.Estate website. The extensive property database offers profitable and high-quality housing options from trusted developers. Our experts will guide you through the buying process, answer all your questions and help choose a dream house or an apartment in Istanbul matching all your goals.