Istanbul Real Estate: Asian and European Properties

Istanbul is a cosmopolitan city known for its unique structure and historical, cultural and natural beauties that all people should visit at least once in their life. Istanbul is a modern and lively city, which brings together a wonderful blend of Eastern and Western culture, in addition to its deep and rich history. Although it is not the capital, Istanbul is still the cultural and commercial center of the country and the whole world, being the only city that sits on two continents at the same time, and this geographical location has increased its importance at the political, economic and geographical levels.

Istanbul was known in the past by several names such as Constantinople, Byzantium, New Rome, Augusta Antonia, Islampol, House of Happiness, Astana, and the shrine of the throne. Among its nicknames are the City of the Seven Hills, the City of Minarets, and the New City of Rome. The city is divided administratively into thirty-nine districts, and its districts are: the small Burj Al-Hammam, Chalcedon, Akab, Bayram Pasha, the grand Burj Al-Hammam, Catalca, Silivri, Usküdar, Şişli, Nahas Village, Besiktas, Beylikduzu, Zeytinburno, Sultan Ghazi, and Umraniye. Ghazi Osman Pasha, Al-Fatih, Melteba, the Hunters, Ayyub, Ras Al-Raya, and Sultan Bayli. Each of these areas contains a distinguished elite of Istanbul real estate, which we will talk about in detail.

In this article, we will learn about Istanbul real estate, both European and Asian part, and the features of both of them.

Investment in Istanbul real estate

It is certain that investments in Istanbul vary, as Turkey is a developing country, a great power and a strong economy that accommodates all kinds of investments in all its forms, such as investment in the industrial, agricultural, commercial, tourism and Istanbul real estate sectors.

In Istanbul real estate sector, there is an upward increase in foreign direct investment in Turkey, especially after the Turkish government has taken some measures and decisions encouraging foreign investment in Turkey, such as investment facilities, providing incentives, forming institutions that deal with investment issues, and following up foreign investments with interest and Attention.

Whether you are buying Istanbul real estate for investment or for housing or both, this is one of the most important decisions that you must make and you have to think a lot before making your decision, which is choosing the location of your property, which will determine its future value and will affect many aspects of your personal life.

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Investing in European Istanbul real estate

You have to know that the most important residential projects of Istanbul real estate are located in the European part of Istanbul, and the purchase of foreigners is often in the European section, as this section contains the majority of foreigners residing in Turkey and is considered the economic pole of the city.

What distinguishes Istanbul real estate in the European part is the diversity of real estate options, in terms of spaces, size, price and properties of the property, in terms of views and strategic locations, in addition to the integrated transportation lines available in the European section of Istanbul, which cover and connect all areas of the section and provides ease of movement for residents.

This part also contains most of the tourist attractions of the Ottoman capital, which makes the investment return for Istanbul real estate somewhat high, thus the largest projects in Turkey are located in it, such as the New Istanbul Canal project, the third airport and many others.

The best real estate investment areas in European Istanbul:

Of course, there are many areas located in the European part of the city, but there are many areas distinguished in terms of Istanbul real estate investment, the most important of which are:

• Basaksehir
• Beylikdüzü
• Esenyurt
• Kucukcekmece
• Bahcesehir

These areas have proven their presence in the investment sector within Istanbul real estate, so that the return of investment was very high for all those who bought a property five or seven years ago. Until now, real estate prices in these areas are still rising as a result of the huge strategic projects and infrastructure projects that the Turkish government launches from time to time.

Investing in Asian Istanbul real estate

The Asian part of Istanbul is the oldest, as Kadikoy, Fikretepe and Pendik have been inhabited since a long time ago. This section of the city is characterized by calm, picturesque nature and historical buildings. The Asian part of Istanbul is distinguished for its properties by the quality of the projects that are being built in the section. The projects that are held in this section are mostly commercial buildings and complexes, where we can say that the residential projects within the Asian Istanbul real estate are designed for social classes that are above the middle, and the price per square meter is rather high from the rest of the regions.

The opening of the new Istanbul Financial Center has led to a very large increase in Istanbul real estate prices in the Asian section, especially in the Atasehir district, where the center is located, and Umraniye district due to its proximity to Atasehir. The New Financial Center is considered one of the largest and most important strategic projects opened by the Turkish government, which aims to transform Istanbul into the first economic center in the world and the first capital of the Islamic economy in the region. 

The best real estate investment areas in European Istanbul:

• Kadikoy

• Urban

• Kartal

• Atasehir

• Maltepe

• Beykoz

• Uskudar 

Advantages of Istanbul real estate investment

Buying an apartment within Istanbul real estate offers you many features and benefits that we will discuss in detail in this paragraph.

Diversity of Istanbul real estate offers:

Istanbul real estate, both European and Asian, includes all types of real estate, from residential apartments, villas of all types and patterns, hotel apartments, commercial offices, and residential complexes, with diverse views of forests, seas, and lakes. Which allows you to choose comfortably according to your needs and budgets.

High financial returns:

Istanbul real estate, unlike other Turkish cities, enjoys high short-term financial returns with excellent investment opportunities, whether through renting the property or selling it after its value increases. This is due to Istanbul's economic strength at the local and global levels and its strategic location between the continents of Asia and Europe.

Advanced infrastructure:

The Turkish government's interest in developing the infrastructure of Istanbul is very great, clear and ongoing. This has ensured the presence of modern and advanced facilities, including educational, cultural, health, and social institutions, and even in terms of public transportation.

Cultural and tourism diversity:

Istanbul is considered the first tourist destination for tourists from inside and outside Turkey. In ancient times, this city was the capital of many civilizations. Even in our time, it brings together different cultures and is characterized by its tourism diversity, including ancient ruins, natural places, lakes, ancient cities and many others, which adds additional value to investment in Istanbul real estate that attracts tenants or tourists.

Turkish citizenship:

One of the factors that most attracts Istanbul real estate buyers, in addition to the high investment value, is that when you buy a property or a group of properties worth $400,000, you obtain Turkish citizenship within a period not exceeding 90 days, provided that the property is purchased from a Turkish citizen and not sold for 3 years. It is worth noting that the buyer, his/ her partner, and his/her children under the age of eighteen also obtain Turkish citizenship.

Real estate residence permit:

Another factor that encourages people to buy Istanbul real estate or Turkey real estate, in general is obtaining real estate residence permit by purchasing a property or group of properties worth $200,000. It is worth noting that the holder of a real estate residence permit can apply for Turkish citizenship after 5 years of obtaining the real estate residence permit.

If you want to know more about real estate investment in Istanbul, do not hesitate to contact us via WhatsApp, here. Our real estate consultant will contact you as soon as possible.

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