How keen are you on purchasing the Istanbul property? It's a smart move, but in Asia or Europe, investing on the right side of the city can take time and effort. Istanbul, straddling two continents, presents a once-in-a-lifetime opportunity for investors. This blog post will discuss the factors foreigners should consider before settling in a particular Istanbul neighborhood.
Istanbul has long been a center of world culture and commerce. In 2023, the city will become the European Capital of Culture, a title awarded by the European Union every two years. This is a huge honor for Turkey and means that investment potential is high. To start your real estate journey, you’ll need to decide whether to focus on the Asian or European side of Istanbul.
Before we look into what each side offers investors, let’s quickly review the overall pros and cons of investing in Turkey.
Investing in Turkey: the Pros and Cons of Istanbul's Asian and European Sides
Before you make your decision, it is important to understand the differences between the city’s Asian and European sides. There are pros and cons to both sides of this vibrant city, and understanding these can help expats make an informed decision when it comes to investing in Turkey.
First of all, the European side of Istanbul offers plenty of attractions. One of the biggest benefits is its vast selection of diverse neighborhoods. From Beyoglu with its chic cafes, restaurants, and parks to Besiktas with its bustling marketplaces, there is something for everyone. In addition to its extensive infrastructure, Istanbul's European side also offers a variety of cultural activities such as music festivals and art exhibitions.
On the other hand, the Asian side provides a quieter atmosphere than its counterpart across the Bosphorus. Here you will find more residential areas with smaller populations than those in the western half of Istanbul. The European side is also home to many historical sites such as the Galata Tower, Topkapi Palace, and Hagia Sophia, which may prove attractive for some investors looking for a more cultural experience. While both sides offer different experiences for potential investors, it is important to consider some drawbacks each may have. The European side tends to be more expensive than the other half of Istanbul due to higher property prices and rental costs. Additionally, since there are fewer residential areas on this side of the city, finding adequate living space at an affordable price can take time and effort. On the other hand, there are fewer cultural attractions on Istanbul’s Asian side, so expats interested in such activities may find this area less desirable for their investments.
Ultimately, deciding which side of Istanbul to invest in depends entirely on what kind of experience you are looking for as an expat investor. If you prefer a vibrant atmosphere full of culture and entertainment options or need a larger living space at an affordable price, investing in real estate on Istanbul’s European side might suit your needs best. But if you're after something quieter or looking for a more historical experience, then investing your money into real estate on the Asian side could be ideal for you instead. Whichever option you choose, make sure that you take into account all aspects before making any financial commitments so that when it comes time to invest in real estate in Turkey, you do so with confidence!
Investing in the Asian Side of Istanbul
Investing on the Asian side of Istanbul can be a great opportunity for expats looking for real estate options in Turkey. This vibrant and dynamic city has much to offer in terms of housing, business, and lifestyle opportunities, from multi-million-dollar luxury homes to more affordable rental apartments.
The Asian side of Istanbul is home to many of the city’s oldest neighborhoods, making it a great option for those who are looking for an authentic Turkish experience. It is also home to some of the most sought-after residential areas, such as Kadikoy, which is known for its upmarket restaurants and bars, and Uskudar, which boasts some stunning views over the Marmara Sea.
When it comes to buying property on the Asian side of Istanbul, there are many options. People who want to buy a home can choose from a wide range of villas and apartments, from expensive homes with private beaches to cheap apartments for rent.
Plenty of commercial properties are also available for those that want more flexibility regarding their investment options. Istanbul's Asian side offers a variety of office spaces, retail outlets, and industrial properties that could be used for business or investment purposes. On the Asian side of Istanbul, you can invest in real estate, but there are also some great opportunities to invest in land development projects. These can range from building new residential complexes or office buildings to creating industrial parks or apartment blocks—all with excellent potential returns on investment in a rapidly developing area. Overall, investing in real estate on the Asian side of Istanbul can be a great way for expats to get a foothold in Turkey’s booming property market, with plenty of options available for all budgets and needs. The Asian side of Istanbul, on the other hand, is seen as less developed than the European side, but it has grown a lot in recent years. The area offers many advantages as an investment opportunity:
Affordable housing – Prices on this side are generally lower than on the European side of town due to limited availability and development options available
Plenty of amenities – This area is home to many parks and cultural sites as well as shopping districts and modern restaurants
Close access to nature – Nature lover? The Asian side is full of green spaces for outdoor recreation
However, there are some drawbacks too when it comes to investing on this side:
Bureaucratic problems – As previously mentioned, bureaucracy can often slow down investment processes, so it’s important to be aware of possible delays
Less central location – Although this isn’t necessarily an issue if you work from home or don’t need frequent access to central areas, then this won’t be a concern for you.
Investing in the European Side Of Istanbul
If you're looking for a great place to invest in real estate on the European side of Istanbul, then you've come to the right place! Now we'll discuss the top reasons why investing in this area is a smart choice and provide an overview of what's available. We'll also look at some of the best neighborhoods and investment opportunities available on the European side of Istanbul. By the time you’re done reading, you’ll better understand why this is one of Turkey's most promising real estate markets.
The European side of Istanbul has been one of Turkey’s most sought-after destinations since it became part of the country in 1923. It's a vibrant city that has been growing rapidly over the past few years, with new developments springing up every day. This has made it an attractive destination for investors who are looking for good returns on their investments. One of the primary reasons why investing in this area is such an attractive prospect is because many different kinds of properties are available to purchase on Istanbul’s European side. There's something for everyone here, from luxurious villas to apartments, terraced houses, and much more. Plus, as Turkish law dictates that foreigners can only own one property at a time, demand will always be strong, and prices will always be competitive. The best neighborhoods on the European side of Istanbul include Beyoglu, Besiktas, Sisli, Maslak, and Sariyer, all of which offer plenty of options when it comes to real estate investments. Beyoglu has high-end apartments and villas close to Taksim Square. Besiktas has local bazaars where you can experience traditional Turkish culture. Maslak is known for its lively nightlife, and Sariyer has high-end properties with amazing views of both sides of the Bosphorus strait. Also, there are a lot of chances for people who want to buy properties before they are built or build their own development projects. When it comes to off-plan investments, developers like Emlak Konut offer a wide range of attractive options, from studio apartments to 5-bedroom houses in all of the major European districts. Land plots and older buildings with potential conversion prospects exist in abundance, depending on size, location, etc., for those seeking something more unique.
The European side of Istanbul is a great place to invest in Europe in 2023. There really isn't a better option out there, what with its thriving culture, rich history, and expanding investment market.
The European side offers some distinct advantages when it comes to real estate investments:
More established infrastructure – The EU capital status means that infrastructure such as roads will likely see improved development over time
More options available – There are simply more properties available on this side due to more tremendous development potential, which makes finding your ideal home much easier
Less bureaucracy – Generally speaking, government processes tend to run smoother on this part, thanks mainly due to EU regulations
However, there are some drawbacks too when considering investing here:
Higher prices – Property prices tend to be higher here due primarily due competition among buyers
Noise pollution – If living close to busy areas, then noise levels can often present difficulties for residents
Differences Between the Asian and European Sides of Istanbul
Despite being one city, the two sides of Istanbul—the European and the Asian—are quite different. From geography to culture and architecture, here are some of the key differences between the European and Asian sides of Istanbul.
Geography: The European side of Istanbul is home to its oldest districts, such as Sultanahmet, Beyoglu, Taksim, and Besiktas. On this side of the city, the land is relatively flat compared to the Asian side which is hilly terrain with many inclines and declines.
Architecture: The architecture on the European side of Istanbul tends to be traditional Ottoman-style buildings with wooden balconies or domed structures. On the Asian side, many modern buildings reflect new approaches to urban design.
Culture: The cultures of both sides differ in terms of language, food, customs, and traditions. On the European side, Turkish is spoken as well as other languages such as English or German due to its proximity to Europe. In contrast, on the Asian side, Turkish is almost exclusively spoken due to its greater distance from Europe.
Transportation: There are fewer transportation options on the Asian side than on the European side – it’s generally easier to use public transportation on the latter than on the former.
These are just some notable differences between both sides of Istanbul that you should keep in mind if you plan on relocating to this unique city!
Which Is Best For You?
Ultimately, it comes down to understanding your personal situation before deciding which part is best for you. Are you looking for an affordable yet well-developed area with plenty of amenities nearby? Or do you want more central access and potentially higher property prices? Once you have answered these questions honestly, you will better know which part might suit your needs best when it comes time to invest in 2023!
