Istanbul remains the best-seller when it comes to foreigners investing in property on a month-on-month basis. July saw a 66 percent upswing in foreign buyers completing deals across Turkey, the country’s biggest city by population remains at the pinnacle.
Meanwhile, August property sales saw foreigners snap up 1,684 units in Turkey, with Iraqis, Saudis, Kuwaitis and Russians the most nationalities among the top five buyers. Again, Istanbul was the most popular, but which of its suburbs are proving popular. We take a quick look:
One of the most popular areas that mix green space, the best in property for the middle classes and all by the Marmara sea.
Families have been flocking to Yesilyurt in recent months thanks to the new apartments and low-rise units, and the potential to see their investments rise in the next five years.
And the chance to be by the sea and mix it up with city life is an attractive proposition.
Esenyurt was the best performer in terms of foreign property buys in 2016, and it will remain a popular suburb into 2017 and 2018 given that the district’s location to the third Istanbul airport which is scheduled to come on stream late next year.
There are also plans afoot to create a metro line through the area making for ease of access into and out of Istanbul even better.
Another neighbourhood that has been a favourite with Istanbulites, but is now becoming a firm performer in the foreign investors’ portfolio. Here luxury property abounds, and millionaire property buyers are wooed by its close location to the Bosphorus River.
Pendik is seen by many real estate experts as one that will be one to look out for in the next few years due to its diverse portfolio of properties available to suit most budgets. Whether its waterfront units, apartments or family villas, the opportunity enables the buyer to keep a foot in the city and another in the suburbs.
With thousands of properties sold in 2016, savvy investors are piling into Beylikduzu due to new building and infrastructure works, that include a metro line. And those on tight budgets can still swing a deal on a modern apartment for a tasty 240,000TL.
Other districts to consider
With Istanbul having a foot in Europe and Asia, the choice of districts is endless, whether it’s Bagcilar, bustling Kadikoy or Arnavutköy.
What may influence an investor is the fact that so many infrastructure works are coming to the fore, whether it be the much-vaunted Third Istanbul airport, or the Great Istanbul Tunnel project, which will have a two-lane highway and fast metro line into the city.
Areas from Söğütlüçeşme to Bahçelievler, Güngören, Zeytinburnu and Fatih will no doubt benefit from property price increases in due course as expectation rises.
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