Top Home Improvement Tips You Need to Know

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Buy House in Istanbul

Investing in a house in Istanbul offers a unique blend of culture, history, and modernity. Here’s what you need to know:

Key Considerations

  • Location: European vs. Asian side
  • Property Type: Villas, apartments, or traditional homes
  • Price Range: Varies significantly by area
  • Beyoglu: Central and vibrant
  • Beykoz: Scenic and serene
  • Kadikoy: Trendy and youthful

Benefits of Buying

  • Potential for high rental yields
  • Turkish Citizenship via property investment

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FAQs About Istanbul Real Estate

What are the advantages of investing in older Istanbul apartments?

Older Turkish-style Istanbul apartment blocks, while basic and with limited facilities, are often located in prime areas such as along the Bosporus and in Nisantasi. These locations can command high prices due to their amazing views and proximity to the city’s cultural hubs.

What is the Urban Transformation initiative in Istanbul?

Launched in 2005, the Urban Transformation initiative aims to replace shanty homes with modern luxury residences. This initiative has significantly improved areas like Bomonti, Sisli, and parts of Beyoglu, thereby increasing property values and enhancing the living environment.

How does the real estate market differ between central Istanbul and its outskirts?

In central Istanbul, properties can be very expensive, often exceeding $10,000 per square metre, especially in luxury areas. In contrast, the outskirts offer lower-priced developments starting around 50,000 Euros for a 1-bedroom unit, with rental yields of about 5% per annum, making them attractive for budget-conscious investors.

What should I consider when investing in Istanbul real estate?

It’s essential to evaluate the location, property condition, and potential for future development. Areas undergoing transformation or with improved transport links are particularly promising, as they can lead to increased property values and rental demand.