By Justin Mays:
The most profitable real estate market where foreigners invest in Turkey is Istanbul. Of the 68,168 real estate transactions made by foreigners in 2021, 22.1% were made to obtain citizenship, and 80.1% of those transactions were properties purchased in Istanbul. There are 39 districts in Istanbul.
Foreigners chose to invest in the top three areas: Esenyurt, Beylikduzu, and Basaksehir. The following seven districts round out the top ten areas in Istanbul where foreigners chose to invest: Bagcilar, Avcilar, Buyukcekmece, Kucukcekmece, Kagithane, Zeytinburnu, and Fatih.
More famous districts like Besiktas and Beyoglu also top lists for popular areas but have less of a rate of return on investment. These are the trends as of 2022, as reported by the Emlak Kulisi website.
The top three:
Esenyurt:
Smart investors look towards Esenyurt. Secure high rises and residences at affordable prices are close to shopping malls, transport, and green spaces. Lifestyle residences offer something for everyone with onsite facilities like pools, gyms, and walking paths.
Beylikduzu:
Many new affordable projects have popped up in Beylikduzu on the city's western edges. Life centers around the West Marina with its yacht club and lively atmosphere with public transportation options getting you to the city center quickly. You can find luxury builds at reasonable prices here.
Basaksehir:
On the European side of Istanbul, modern Basaksehir has a strong infrastructure. High-standard developments with access to good educational, social, and commercial facilities make this a popular investment spot. Both Turks and foreigners compete to buy properties there.
And the rest of the top ten;
Bagcilar is on the Basin Express Highway and links to many points in Istanbul. This area is quickly being developed, and there are many good opportunities for investment properties here.
Avcilar is sandwiched between Beylikduzu and Kucukcekmece and had one of the top increases in the average price per square meter in the city at 99.56%.
Buyukcekmece was once on the outskirts of the European side of the city but has become an urban center in its own right, with an exciting entertainment district ringing its namesake lake. The Istanbul International Community School is located close by in Hadimkoy, and this is a great area to find beautiful villas in secure compounds.
Kucukcekmece is one of the most popular districts in Istanbul, bordered by a lake and the Sea of Marmara on the European side. With good access to the TEM and E5 highways and close to Bachesehir, many schools and social spots are nearby.
Kagithane is in the center of the city. Many new quality developments have popped up in this densely inhabited area close to the Golden Horn. Surrounded by Sariyer, Beyoglu, Besiktas, Eyup, and Sisli, you can reach the best of the city in twenty minutes from any given point.
Zeytinburnu is an older district renovating existing structures and developing new buildings along the seaside. This urban renewal has increased the number of available properties in the past decade, with excellent public transport, hotels, and more. This is a lively district primarily known for having some great shopping centers.
Fatih is a good spot to invest in buy-to-let properties. With its bustling commercial area and neighborhood feel, it has had a resurgence in popularity in the past decade. Near Taksim and the Old City's attractions, the tramway and metro offer quick transport to far corners of the city.
Bonus recommendations for foreign investment in Istanbul!
Taksim-Famously popular with expats, Taksim is a historic neighborhood in the heart of Istanbul. Few new projects are available here, but many beautiful 19th and early 20th century buildings are available in neighborhoods like Galata. Two kilometers long, Istiklal has many high street brands, and Taksim has many public transportation options like the bus and metro.
Sisli- Energetic Sisli is central, with many shopping malls and transportation options. The builds range from the classic historical buildings of Nisantasi to the new projects of Bomonti to high rises like the Trump Towers. Some of the city's best hospitals, including the American Hospital, are located in this district. Young professionals, families, and students can all find their ideal residences in Sisli.
