Abundant, diverse, vibrant – these are just some of the adjectives that can be used to describe the Turkish real estate market. There are properties that can satisfy any needs and preferences. Healthy demand and an accommodating construction sector made sure that it’s true without any exaggerations.
One of the key features of the Turkish market is the presence of a huge market that thrives inside it. This, of course, is Istanbul – a huge market within a market that attracts many investors from abroad. Data shows that for the last several years Istanbul has been traditionally generating nearly half of all housing sales to foreigners in Turkey.
It’s no revelation that a metropolis as large and developed as Istanbul would attract most of the investors.
The city is divided into 39 districts. Some have very distinct and unique opportunities, while others can be quite similar in what they have to offer. Unsurprisingly, some of the districts are way more popular among investors than others on account of numerous factors, including affordability, selection and personal preferences.
Last year, most of the foreigners invested in properties in four adjacent districts of Esenyurt, Beylikdüzü, Başakşehir and Avcılar, as well as Kağıthane. All five are located on the European side of Istanbul and have benefitted greatly from the development boom of the past several years.
Let’s go through each of them one by one.
Esenyurt
Esenyurt is located around the middle of Istanbul’s European side, some 33 kilometers (20 miles) from the city’s historic center. It’s a popular residential district, in fact it’s the most populous district in Istanbul. More than 977,000 people live here, meaning that more that 1% of Turkey’s entire population resides in Esenyurt.
The district is known for being a home to people who migrate to Istanbul, including both internal migrants and expats, rather than “true” Istanbulites. Last year, Esenyurt was the most popular district among foreign home buyers in Istanbul. A third of all houses sold to foreigners in the Turkish metropolis was located in Esenyurt.
There are several reasons for the districts popularity among overseas investors. This includes availability of housing for various income groups, below Istanbul average prices and a rich selection of modern projects.
Esenyurt is a true residential district as it offers everything its residents might need, eliminating the need to leave the area in search of something necessary for the everyday life. You will find plenty of public spaces, shopping centers, health and educational facilities, including several universities, and social activities in the district.
At the same time, if you have business outside of Esenyurt, the district is well-connected to the rest of Istanbul via two vital for the metropolis highways that go through the north (E80 aka TEM) and south (D.100 aka E5) of Esenyurt respectively.
Beylikdüzü
Immediately to the south of Esenyurt lies its “sister” district of Beylikdüzü. The districts are divided by the aforementioned D.100 motorway, which hosts Istanbul’s metrobus, a bus rapid transit route with dedicated bus lanes that connect the western outskirts of Beylikdüzü with the city’s Asian side.
It is the second most preferred district among foreign investors. Beylikdüzü and Esenyurt together accounted for around 45% of housing sales to foreigners in Istanbul last year.
The districts are often compared due to their close proximity to each other as well as relatively recent and parallel development boom, which attracted residential and commercial investments.
Though area-wise the two districts are quite similar, the population of Beylikdüzü is significantly lower with just under 400,000, so it’s a lot less densely populated.
One of the key differences between Esenyurt and Beylikdüzü is the latter’s access to the sea. Beylikdüzü boasts beautiful marinas and seafronts with public spaces, cafes and restaurants for its residents to enjoy.
Areas closer to the seashore have been attracting many buyers with higher income levels, while the rest of the district offers opportunities for various kinds of investors.
Başakşehir
Next up in ranking of most popular districts is Başakşehir. It is one of the newest Istanbul districts, having been declared as such in 2008. It lies to the northeast of Esenyurt.
In recent years, Başakşehir has grown into one of the most popular residential areas of Istanbul with a total population of just over 500,000 people. It is also one of the most preferred districts for foreign nationals not only in Istanbul, but the whole Turkey.
The district offers its current and potential residents many newly constructed properties along with modern infrastructure from shopping to education to public spaces. Başakşehir operates as a self-sufficient district where residents can easily take care of their day-to-day activities.
Başakşehir is connected to the more central parts of the city via the E80 motorway as well as public transport, including many bus routes and subway.
Avcılar
The district of Avcılar is located between Esenyurt and Beylikdüzü to the west and Lake Küçükçekmece to the east. Until the second half of the 20th century, Avcılar remained a small village, while rapid growth began only in the 1980s. It has been a full-fledged district of Istanbul for 30 years, so although it is a relatively new area by Istanbul standards, it is much older than its western neighbors.
Avcılar is considered to be one of the older, well-established residential areas of the metropolis that offers residents easy access to daily necessities of life.
The general ongoing development boom in Istanbul has not passed by Avcılar and various residential and commercial projects have been – and are being – realized across the district.
Compared to the previously mentioned three districts Avcılar offers a better connectivity to other parts of the city. The most important transportation mode in the district is metrobus, while the arterial D.100 road serves other public transport and personal vehicles. Meanwhile, just on the opposite side of Lake Küçükçekmece the residents of Avcılar have access to the Marmaray rail line, which ends beyond the eastern borders of Istanbul on the Asian side.
Kağıthane
The district of Kağıthane rounds up the list top five most popular Istanbul districts among foreign investors. Comparatively to the other four districts, Kağıthane is the most central one in this ranking.
To the southeast, Kağıthane borders the districts of Beşiktaş, Şişli and Beyoğlu, parts of which form the so-called business center of Istanbul.
With a population of roughly 450,000 people, Kağıthane is the fifth most densely populated district of Istanbul. Along with close proximity to the central Istanbul, the area offers its residents everything needed to lead a comfortable life.
Nowadays Kağıthane attracts attention thanks to its relatively central location as well as numerous urban redevelopment and transport infrastructure projects. Various housing and office projects are being realized in every neighborhood of the district, offering investors some unique opportunities.
Kağıthane also boasts robust transport links with the rest of Istanbul. The district offers numerous regular bus services, metrobus and several subway lines, including the under-construction line to the Istanbul Airport.
