Investing in Istanbul Real Estate is one of the best decisions you can make. Due to the central and unique location of Istanbul, the history, the cosmopolitan nature of this vibrant and much sought after city, owning a property here is a guaranteed investment success. However, thereafter comes a dilemma – in which area of Istanbul should you buy?
It’s a well known and often repeated fact that Istanbul straddles two continents – Europe and Asia, and is therefore one of the most popular cities to visit. It is a lesser known fact though that Istanbul is actually known as Istanbul Province, and comprises 39 neighbourhoods, each with it’s own local government, and complete with necessary facilities such as housing, infrastructure, schools, hospitals, shopping malls.
Why Invest in …….Sisli is one of the 39 districts of Istanbul. Located on the European side of the city and covering around 35Km2, it is bordered by Besiktas to the east, Sariyer to the north, Eyup and Kagithane to the west and Beyoglu to the south.
Developed as a middle-class centre during the Ottoman period, Sisli boasts wide avenues with large buildings and was home to Armenians, Jews and Greeks (and a few Turks). Following the founding of the Turkish Republic in 1923 the area became a favourite of poets and writers and Sisli acquired theatres and cafes. The Hilton Bosphorous Istanbul was built here in the 1950s, the first Hilton outside of USA, and was quickly followed by other presitigious hotel chains.
Nowadays the elite of Istanbul have moved further out of the city and their large homes have become banks, offices and large retail units. Sinc the 1970s a period of renovation has taken place and most of the grand buildings have been demolished, to be replaced by modern high rise apartment blocks. Sisli is known as a centre for shopping, and Europe’s biggest (and the world’s second largest) shopping mall Cevahir, is situated here. The charming area of Nisantasi is known as the home for high fashion in Istanbul, and you can find many designer studios within the narrow back streets.
Şişli also has a reputation for education with some well-known high schools and a great number of dersane (preparatory courses for the annual university entrance exams), evening and weekend schools where people come to cram for university or high school entrance examinations, or to learn English.
Due to it’s central location Sisli is once again known as an up and coming area of Istanbul, and residential properties here are at a premium. We are proud to present a number of exquisite apartments in this desirable location, complete with every modern facility and amenity for your family.
Why Invest in …….Bomonti?
Being part of the Sisli neighbourhood, Bomonti is best known as being one of the first light industrial zones in Istanbul, and was later home for the brewery, the first one of the Ottoman Empire, which takes it’s name.
Following the construction of the Bosphorous Bridge, during the 1970’s, urban accessibility was improved and gradually the factories closed and the area became a dead zone. Recently however, the area has been the subject of mass transformation, due to the central location within Istanbul and high land prices, and is now an area of large scale multi-storey projects.
Modern tower blocks offer stunning views of this amazing city, and being just a short distance from the shopping areas of Sisli, together with a rise in entertainment venues in Bomonti itself, properties here are in great demand.
Why Invest in …….Kagithane
Kagithane is formerly a working class district, covering an area of 14.52km2 on the European side of Istanbul, which has recently become one of the largest real estate development areas of the city. The area takes it’s name from the former paper factories and flour mills which were prominent in the area.
Nowadays, following the introduction of new intra-city networks and urban regeneration plans, Kagithane is transforming into one of the smartest addresses in Istanbul. New developments include a wide range of mixed use, shopping mall, hotel, campus, office and residential units. One of the most prominent buildings in the area is Istanbul Sapphire, boasting 54 floors and rising 238 metres, Sapphire was once the tallest building in the city, and the 4th tallest building in Europe.
Why Invest in …….Esenyurt
On the European side of Istanbul, Esenyurt is a ‘new’ area of Istanbul, with lots of recent development. Bordered by Kucukcekmece Lake on the east, Buyukcekmece to the west, Arnavutkoy and the new Istanbul airport to the north and the major E5 highway to the south, Esenyurt is becoming a favourite residence amongst Istanbulites.
Esenyurt is a developed area, with good infrastructure and transport links – the new Istanbul airport is just over 40 Km from Esenyurt. There are four new cultural centres and four new parks in Esenyurt which add to the impressive list of facilities in the area such as shopping malls, hospitals and health facilities, Universities, conference centres, nature park and other leisure activities.
Due to land prices in the area, property here is quite affordable and it is possible to buy a brand new, modern apartment for less than $50,000.
Why Invest in …….Maslak
Maslak is the main business area of Istanbul, located on the European side of the city and is home to Turkey’s Stock Exchange – Borsa Istanbul, and also the huge, green leafy Belgrad Forest.
Maslak gets it’s name from the water pools brought through channels from the Buyukdere River, but it is now known as Skyscraper Central, due to the proliferation of tower blocks, some of which offer tantaslising glimpses of the iconic Bosphorous Strait.
Maslak is quite close to the centre of Istanbul, with Taksim Square being just a few stops away by Metro, from where you can easily reach all parts of the city. In the other direction, you can find the beaches of Kilyos or watch the fishing boats at the picturesque port of Sariyer, and hardly believe you are in Istanbul at all. The new Istanbul airport is easily reached via the new D020 road and is approximately 34 Km away.
Due to the central location, and being close to many businesses, shopping and leisure outlets, apartments in Maslak is in great demand, and are thus perfect for investors looking for buy to let property.
Why Invest in …….Eyup
Eyup, or Eyupsultan, is a district of European Istanbul, on the shores of the Golden Horn, which takes it’s name from the magnificent and imposing Eyup Sultan Mosque. There is a gondola ride, rising up from behind the mosque, up to the historial Pierre Loti Coffeehouse, named after the French writer who was a frequent visitor in the late 19th Century. Being the highest point of European Istanbul, you can soak up the panoramic views of the Golden Horn, whilst enjoying a refreshing drink.
Being in a central Istanbul location, and having good infrastructure and transport links to the city, this is a favoured development area and property values are rising quickly. Apartments here are proving popular with investors seeking entry level opportunities with scope for capital growth, and a steady income from tenants who prefer the easy commute into the city. However, it is still possible to find a modern apartment, with good views, from as little as $65,000.