Cheapest Areas to Buy a Property in Istanbul

When it comes to real estate investment in Turkey, people’s first choice is usually Istanbul due to its economic and industrial importance. However, they are usually restricted to a specific budget by which they would like to get a huge return in a short time. Istanbul receives many foreigners, each year, whether for tourism, living or buying real estate for investment and obtaining the Turkish citizenship.

What distinguishes Istanbul from other Turkish cities?

There are so many reasons for which foreigner investors prefer Istanbul on other cities in Turkey, including: 

1. Real estate investment is very profitable in Istanbul, in terms of reselling and hiring because it is the first destination for Turks or foreigners. 
2. Istanbul is the industrial and economic center of Turkey. It is the center of international companies and organizations.
3. The infrastructure and public utilities in Istanbul are very improved and advanced, which makes it a perfect place for living. 
4. It contains Istanbul International Airport which is the biggest airport in the world.
5. Although it is very modern, it contains many forests and large green spaces which makes it a mixture of urban life and nature. 
6. It is located between Asia and Europe which make it the center for the Turkish government strategic projects such as the New Istanbul Canal.
7. It is the best option for investors who are willing to buy real estate in a vital city and international center cheaper than Europe but similar in living, culture and infrastructure. 

Related articles:

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• 10 Outdoor Activities to Enjoy in Istanbul in 2023
• The Cost of Living in Turkey 2023
• Shall I Buy a Property in Turkey for Citizenship or Buy in Europe?

House sale statistics for Istanbul, December 2022

According to TURKSTAT, although house sales decreased by 0.4% in 2022 compared to the previous year and became a million 485 thousand 622, Istanbul had the highest share of house sales with 17.5% and 259 thousand 654 house sales. As for foreigners’ sales it increased by 15.2% in 2022 compared to 2021 and became 67 thousand 490, to have a 4.5% share of all house sales. As expected, Istanbul ranked first with 24 thousand 953 sales to foreigners in 2022. 

What are the cheapest areas to buy a real estate in Istanbul?

Esenyurt:

Esenyurt is located in the west of Istanbul on the European side, between Avcilar in the south, Beylikdüzü in the west, Başakşehir in the north, and Küçükçekmece Lake in the east. It is also located between the two main highways in Istanbul, TEM and E5.

It is relatively far from the center of the city, therefore, the municipality of Esenyurt connected it to all the surrounding areas including the city center by providing an advanced network of public transportation to facilitate the movement. The municipality has also been constructing a metro line, which is planned to be completed this year.

Advantages of housing in Esenyurt:

Due to the advanced transportation network that the government has been working on, the area has become an attraction for Turks and foreign investors, due to the huge amount of real estate and modern residential complexes with good specifications and low prices that are likely to rise in the future. However, living in Esenyurt is desirable for these reasons:

1. Despite its modern and luxurious buildings and complexes, it is cheap compared to other areas.
2. There are many international and public schools in addition to universities, which raises the demand on rent in the area.
3. There are many public and private hospitals, with high-quality treatment services that attract patients from all over the world.
4. There are many green spaces and parks, such as the Martyrs’ Park or Muhammad Akif Arsoy Park. 
5. The area contains many public utilities and a variety of services that make life there more attractive and easier.
6. The Chocolate Museum is in Esenyurt, which is very unique and contains designs and statues for Ottoman characters, cartoons, trees, animals, landscapes and landmarks in Istanbul made of chocolate.

Why invest in Esenyurt?

Real estate prices have been increasing in the area for many reasons, including:

1. It is near the sea and the marine transport stations leading to the Princes' Islands and Bursa.
2. It is located between the two main highways of Istanbul, E5 and TEM.
3. The Metro line that will be ready in 2023 will increase the prices of real estate in the area.
4. It is close to the biggest governmental project that will affect the economy of the whole world which is the New Istanbul Canal.

Avcılar:

It is located in the European part of Istanbul, to the south of Esenyurt, along the Marmara Sea and Küçükçekmece Lake, and to the east of Beylikdüzü. Two highways E-5 and D-100 pass through the borders of Avcılar, providing a good connection to the city center and other surrounding areas.

Advantages of housing in Avcılar:

1. It contains a fast and  advanced public transportation network, including Metrobus which connects the area with other areas in the European and Asian parts of Istanbul.
2. It has a very good location close to important public centers, like the municipality of Beylikdüzü.
3.  It overlooks the Marmara Sea and Küçükçekmece Lake, which makes the apartments’ views stunning. 
4. There are many important shopping centers, in addition to many important markets. Avcılar has a diverse social environment, which has attracted increasing numbers of foreigners.

Why invest in Avcılar?

1. Many investors prefer to invest in Avcılar for student housing rent, due to the presence of many public and private universities in the region.
2. The area is very close to the New Istanbul Canal which is the most important project in the meantime, whether locally or globally. 
3. It is close to E5 which is one of the most important highways that connects the area with other vital areas in Istanbul.
4. It contains a very fast advanced network of transportation and infrastructure.
5. Apartments in Avcılar combine between vital locations and sea views which increase the prices and make good profits. 

Silivri:

It is one of the well-known rural areas in Istanbul, about 65 km away from the city center. It has a wonderful view of the Sea of Marmara, which attracts investors willing to buy real estate in tourists places with cheap prices. 

Advantages of housing in Silivri:

1. Silivri is a fully serviced, independent area that includes a public university and 2 private universities, medical clinics, hospitals, and many other utilities.
2. It is known for its calm and distinctive atmosphere and charming beautiful coast.
3. Silivri includes prestigious residential complexes overlooking the Sea of ​​Marmara. It contains public parks and landmarks that tourists visit, annually, from all over the world to. 

Why invest in Silivri?

1. Silivri is also mediated by two main highways: E-5 and E-80, which connect it to the rest of Istanbul.
2. It overlooks a natural harbor and is located at the entrances of the most important industrial and commercial centers.
3. There are many historical places in Silivri going back to the period of Byzantine and Ottoman rule, including the Selymbria Castle, the Greek Church of Shantoa, and the historic Selimba houses.
4. After the completion of the Yavuz Selim Bridge project in 2016, in addition to the opening of the Çanakkale Tekerdağ Highway, the importance of Silviri increased significantly.

Arnavutköy:

It is located in the northwest of Istanbul, directly on the Black Sea. It is one of the cheapest, most important, and largest areas in Istanbul, which attracts many investors, whether Turks or foreigners, because it is expected to receive broader attention from the government during the coming years. 

Advantages of housing in Arnavutköy:

1. It includes all types of real estate, including old apartments, modern apartments, residential complexes and popular areas, in addition to luxurious villas.
2. It has all the services that people look for in housing, such as public and private hospitals, schools, as well as hotels and shops.
3. It contains many recreational places, sport centers, swimming pools, restaurants and charming beaches, in addition to ports and cafes.

Why to invest in Arnavutköy?

1. All the new projects that the government is implementing in Istanbul within the urban development plan of 2020 are located in this distinguished area, including the New Istanbul Canal, the new Istanbul Airport and the third Istanbul Bridge, which increases the value of land and real estate to double. 
2. Arnavutkoy is close to many vital areas in Istanbul, such Mecidiakoy. It is only about 35 km from Eminonu and about 30 km from the Bosphorus Bridge, surrounded by Eyup and Basaksehir.
3. It has all means of public transportation, which makes real estate investment in this area profitable. 
4. It is rich with many important resources, including fresh water of Istanbul because it is rich in water resources.

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