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Welcome to Istanbul, a vibrant city where Europe and Asia meet! If you're looking to find a perfect place to live or invest, exploring the options for an apartment in Istanbul is an exciting journey. Istanbul's real estate market is full of opportunities, whether you want a modern flat in a bustling area or a quiet home by the sea.
Finding the right apartment in Istanbul means looking at different areas and understanding what each one offers. Istanbul is a huge city with many unique districts, each with its own feel and property types. From the lively European side to the more laid-back Asian side, there's something for everyone.
Investing in an apartment in Istanbul is a popular choice for many reasons. The city's economy is growing, and its location makes it a global hub. The real estate market has seen prices go up, showing good potential for investment over time. Plus, owning property here can offer benefits like getting Turkish citizenship, which is a big draw for people from other countries.
Istanbul's property market has been quite active recently. In 2024, property sales went up by 9% compared to the year before. This shows that many people are interested in buying homes here. While prices have increased, it's important to look at the real value when you think about inflation. Still, the market is expected to keep growing, with demand for homes possibly going up by 10-15% in 2025.
When you're looking for an apartment for sale in Istanbul, you'll find a wide variety of choices. There are small studio apartments, larger flats with multiple bedrooms for families, and even fancy penthouses with amazing views. Many new buildings offer great features like swimming pools, gyms, and round-the-clock security. Older buildings might have a classic charm, especially in historic neighborhoods.
The price of an apartment for sale in Istanbul can change a lot depending on where it is, how big it is, and what features it has. The average price for an apartment across Istanbul is around TRY 10,567 per square foot. But this is just an average, and prices can be much higher or lower in different areas.
Here's a look at average apartment prices per square foot in some Istanbul neighborhoods (in Turkish Lira):
Neighborhood |
Median Price per Sq Ft (TRY) |
Basaksehir |
7,215 |
Beyoglu |
12,313 |
Beylikduzu |
6,030 |
Pendik |
7,551 |
Buyukcekmece |
7,169 |
Bahcelievler |
7,659 |
Bakirkoy |
17,001 |
Kadikoy |
15,381 |
Umraniye |
11,024 |
Kagithane |
13,012 |
Besiktas |
21,607 |
Sisli |
20,867 |
Beykoz |
13,985 |
Kartal |
9,293 |
Uskudar |
13,884 |
Bagcilar |
8,472 |
Kucukcekmece |
8,425 |
Sariyer |
18,417 |
Data Source: Properstar
As you can see, areas like Besiktas and Sisli are much more expensive than places like Beylikduzu or Basaksehir. This is because of their location, how developed they are, and the types of properties available.
If you're looking for an apartment for sale in Istanbul cheap, you'll want to focus on certain districts. Areas that are a bit further from the city center or are still developing often have lower prices.
Districts like Beylikduzu, Bagcilar, and Basaksehir offer more affordable options compared to the central areas. For example, the median price per square foot in Beylikduzu is around TRY 6,030, significantly lower than the city average. Bagcilar also has a lower median price per square foot at TRY 8,472.
These areas are still great places to live, with good transportation links and growing amenities. Bagcilar, for instance, is well-connected by metro and tram lines. Basaksehir is known for its modern planning and large green spaces. Beylikduzu offers a quieter lifestyle by the Marmara Sea.
While you might find an apartment for sale in Istanbul cheap in these areas, it's important to consider what you need in terms of location, size, and nearby facilities like schools and hospitals.
Several districts in Istanbul are popular for buying properties, each with its own advantages:
Sisli: Located in the heart of Istanbul, Sisli is a busy area with lots of businesses, shops, and modern apartments. It's well-connected by public transport and has seen property values go up consistently.
Kağıthane: This district has changed a lot from an industrial area to a modern residential hub. It's close to central business districts and has seen significant development, making it attractive for investment. Prices here are generally more affordable than in neighboring central areas.
Besiktas: A prestigious district on the European side, known for its history, culture, and beautiful Bosphorus views. Properties here, especially those with sea views, are among the most expensive in Istanbul.
Bagcilar: A developing district on the European side that offers more affordable property options. It has good transportation links and is undergoing urban transformation.
Basaksehir: A modern, planned district on the European side, known for its family-friendly environment, green spaces, and modern infrastructure. It offers relatively reasonable property prices and strong growth potential.
Beykoz: Located on the Asian side, Beykoz is known for its natural beauty and luxurious properties, especially villas along the Bosphorus. It offers a quieter lifestyle away from the city center.
Beylikduzu: A rapidly developing district on the European side along the Marmara Sea. It offers a good balance of affordability, modern amenities, and a calmer lifestyle compared to central Istanbul.
Umraniye: A large district on the Asian side that is well-connected and has seen significant development, including the Istanbul International Financial Center. It offers a wide range of apartment options.
Buyukcekmece: A coastal district on the European side known for its sea views and calmer environment. It offers more affordable seaview properties compared to other areas in Istanbul.
Each of these districts offers different types of apartments and living experiences. When you buy apartment in Istanbul, thinking about the lifestyle you want and the importance of location for your daily life is key.
Buy property in Turkey as a foreigner is a clear process. First, you'll need to get a Turkish tax number and open a bank account. Then, you can start looking for properties, often with the help of a real estate agent. Once you find a place you like and agree on a price, you'll sign a contract and pay a deposit.
It's important to do legal checks on the property to make sure everything is in order. You'll also need a property valuation report. The final step is transferring the title deed (TAPU) at the Land Registry Office. It's a good idea to have a lawyer help you through this process.
There are also costs involved, like the title deed fee (usually 4% of the property value) and potential VAT on new properties. Annual property tax is also something to consider.
Investing in an apartment in Istanbul can offer good returns. Rental yields in Istanbul generally range from 4% to 8% per year, depending on the location and property type. Some areas, especially central ones or those near business hubs, can offer higher rental income.
buy Property in Istanbul have also been increasing. While inflation affects the real value, the nominal prices have gone up significantly in recent years. Experts expect this trend to continue, especially in developing areas and those benefiting from new infrastructure projects.
Several things can make an apartment in Istanbul more or less valuable:
Location: Being close to transportation (metro, highways), amenities (shops, schools, hospitals), and having nice views (Bosphorus, sea, green spaces) increases value.
Property Features: The size of the apartment, the number of rooms, the condition of the property, and modern amenities like smart home systems, pools, and security all play a role.
Infrastructure and Development: New roads, metro lines, and urban renewal projects can boost property values in an area.
Economic Factors: The overall economy, inflation, and exchange rates can impact property prices.
Istanbul's real estate market offers a wide range of opportunities for those looking to buy apartment in Istanbul. Whether you seek a luxury home in a prime location or an apartment for sale in Istanbul cheap in a developing district, the city has diverse options. Understanding the market trends, exploring different neighborhoods, and considering your personal needs are crucial steps. With ongoing development and a dynamic market, investing in an apartment in Istanbul holds promising potential.
Trust-United is here to help you navigate the exciting Istanbul real estate market. Whether you're looking for a family home, a profitable investment, or an apartment for sale in Istanbul cheap, our expert team has the local knowledge and experience to find the perfect property for you. Contact us today to start your journey to owning a piece of this incredible city!