Which District Of Istanbul Have High Potential For Property Investment?
Turkey has a stable political environment with a developing economy to grow by the day. However, especially in recent years, it has shown an increasing acceleration in property investments on a sectoral basis with the creation of an investment environment for foreigners. With the start of the investment by granting Turkish citizenship applications, the interest of foreigners in Turkey has increased even more and increasing demand has risen to record levels recently. The government’s policy of paving the way for foreign investments caused the demand for the real estate sector mostly. Accordingly, the number of new residence projects with different features has also increased. As understood here, the real estate investment potential in Turkey is very high. In Istanbul, the heart of Turkey, is taking the lead in residential investment potential. In the rest of the article, you can find information about the district of Istanbul with the highest real estate investment potential.
Mega Projects and Developing Districts of Istanbul
Istanbul has been the city that has a share of 17.5 percent last year, 1 million 77 thousand residential properties sold in Turkey. It is observed that 43 percent of these houses sold in 2019 are included in the new housing projects. Branded housing projects that have risen almost everywhere in Istanbul have had a major impact on this high rate. In previous years, real estate investments were concentrated especially in districts such as Başakşehir, Esenyurt, and Çekmeköy, where the land stock was higher than other districts, and later increased to relatively more internal districts such as Kadıköy, Beyoğlu, Kağıthane, Kartal and Maltepe. In 2020, the number of new housing projects on sale in Istanbul reached 2,000 units. Although these new housing projects are seen on both sides of the city, the real estate investment potential on the European side is one step ahead.
While the increase in the number of new housing projects increases the supply for foreign investors, it also makes it difficult to choose the right projects and houses. While investing in real estate, some basic criteria are prioritized to find high-potential housing projects that can provide high returns now and in the coming years. The most important of these criteria stands out as the location of the housing project. In which district the housing project was built, its proximity to social places that facilitate daily life such as hospitals, schools, shopping malls is seen as the main determinants of prices and future value increase. Also, the square meters of the apartments in the housing project and the number of rooms can be listed as other criteria to be considered.
Bahçelievler and Its Potential
Today, Bahçelievler is seen as the district with the highest real estate investment potential of Istanbul by the authorities. Having a population of approximately 1 million, Bahçelievler stands out as a district where shopping centers are dense. MetroPort AVM, StarCity Outlet, and BahçePark AVM are some of them. Besides, the stores of international brands are located in this district. Besides, there are educational institutions such as Marmara University Faculty of Economics and Administrative Sciences – Bahçelievler Campus, Istanbul Kültür University and Istanbul Aydın University Faculty of Dentistry in the district, where the education level is quite high. Bahçelievler, which is also very rich in terms of access to health services, includes public and private health institutions such as Medical Park, Istanbul Eye Hospital, Medicana Hospital, Istanbul Physical Therapy Rehabilitation Training and Research Hospital, Bahçelievler Oral and Dental Health Center. In terms of transportation, the district, which has a rail system and Metrobus facilities such as metro and tram, also provides transportation by many IETT or ÖHO and Minibus Lines. Also, the district is home to historical monuments such as Çobançeşme Bridge (Mimar Sinan Bridge) and Çoban Fountain, Pool Pavilion (Siyavuş Pasha Pavilion) and Fountain.
Among the neighborhoods with the highest real estate value among 782 neighborhoods in Istanbul, Bahçelievler has 3 neighborhoods in the top 5. This rate proves how high the district’s real estate investment potential is. New housing projects built in Bahçelievler attract attention as the greenest projects of Istanbul city center. Foreign investors who want to live or rent in housing projects that offer different opportunities such as large pools, specially designed landscaping areas, recreation gardens. They can realize their dreams without losing time by applying to expert and reliable real estate investment companies.