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Istanbul Real Estate | Eye Catching Regions

Eye Catching Regions of Istanbul
Nova Property

As we move towards 2016, a successful investment strategy consists of the regions in Istanbul and the evaluation of the residential estates listed below.

Haliç, Istanbul
Haliç, Istanbul

Currently, Haliç – Kağıthane and Bomonti regions are offering opportunities directed at medium and high income groups. As the supply of land in Bomonti is not particularly high, we expect the development in the region to move towards the nearby regions of Piyalepaşa, Kağıthane and Dolapdere. The metro line increases the connection of these regions with the central business areas on the European side.

While it is difficult to find land for development in Zeytinburnu, it does seem profitable for the medium and high income groups and investors developing homes, with the impact of Marmaray and other real estate projects. The conversion of the industrial uses in Topkapı and Merter regions to commercial and residential uses is opening the way to urban regeneration in these areas.

Regions located around Basın Ekspres Road, such as Güneşli and Yenibosna, offer opportunities for medium and large scale investors. Industrial buildings are moving from the region as it has been determined as a “Prestige Service Area” in the newly prepared zoning plans. The existing texture of the region has begun to change together with the change in zoning, and industrial structures have begun to be transformed into hotels, shopping centers, offices and residential buildings. It is expected that suitably sized estates in Güneşli and Yenibosna and the rising demand for studios and home-offices within the region will create opportunities for investors.

Sarıyer, Istanbul
Sarıyer, Istanbul

The northern regions of Istanbul, including Sarıyer and Arnavutköy in particular, offer investment opportunities due to the developments around the 3rd Bridge and its links to the highways. However, zoning is still not available in most of this region.

Opportunities on both sides of Istanbul

Opportunities exist for the lower-middle, middle and upper-middle income groups in Kartal, Pendik and Tuzla regions on the Anatolian side of Istanbul. Land prices in these regions are relatively low, and there is a supply of large estates. Additionally, the Legislation Concerning the Transformation of Areas Under The Risk of Disasters, which came into effect on 31 May 2012, is one of the important factors having an impact on the housing stock of Istanbul. 40 different areas in 16 regions of Istanbul have been declared as risky areas within this framework: Bağcılar, Bayrampaşa, Beşiktaş, Beyoğlu, Esenler, Gaziosmanpaşa, Güngören, Kadıköy, Kartal, Küçükçekmece, Pendik, Sarıyer, Sultangazi, Tuzla, Üsküdar and Zeytinburnu. A constant increase has been observed in the sales of homes to foreign nationals in Turkey, in the three years since the change in the Reciprocity Legislation in 2012. Home sales are expected to increase even more with the fall in the value of the Turkish Lira against the Euro and American Dollar.

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