Istanbul: A Megacity in the Midst of Reform Development Real Estate Market Overview

Education in Turkey

In Turkey, a great deal of attention is paid to education, with many prestigious universities and schools located here. Among the most well-known institutions are Koç University, Sabancı University, and Istanbul Technical University. The capital has a number of public and international schools. The Pushkin International School and the Istanbul International Community School are popular options for foreign students.

Disadvantages of living in Istanbul

Although Istanbul offers a rich cultural experience, it also has its drawbacks. Noise and traffic are major issues. The uneven distribution of social problems in the city, including poverty, can also be a concern. However, many people continue to choose Istanbul for its rich cultural heritage and opportunities for growth.

The housing market in Turkey

The Turkish housing market is experiencing significant growth, especially in Istanbul. Real estate prices have risen due to inflation and fluctuations in the Turkish lira exchange rate. Many locals and foreign investors view investing in real estate in Turkey as a profitable option, making this market attractive for those looking to invest.

• The main universities of Turkey:Koç University, Sabancı University and Istanbul Technical University University
• Famous international schools in Istanbul:Istanbul International Community School, Pushkin International School and Tarabya British School
• Disadvantages of living in Istanbul:noise, traffic, uneven distribution of social problems
• Investment opportunities in Turkey:real estate, representing a viable option for those looking to invest

Increase in the number of foreign investors

Recently, there has been an increase in the number of foreign investors deciding to purchase real estate in Istanbul. This is due not only to attractive prices but also to the opportunity to obtain citizenship through the investment program that has been in place since 2017. With the onset of military actions in Ukraine, there has been a noticeable influx of Russians and Ukrainians looking to invest their funds in Turkish real estate, which, in turn, has led to a 145% increase in rental prices in the city over the past year.

Citizenship by Investment Program

One of the key incentives for foreign investors has been the "Citizenship by Investment" program. Despite the increase in the minimum investment amount for participation in the program from $250,000 to $400,000, it remains quite popular, especially among Russians.

According to the report from the travel agency Betam, in August there was a slowdown in the annual growth of housing prices in Istanbul by 2.1 points compared to the previous month.

Market forecast

Despite this, prices are still rising when taking inflation into account. Interestingly, the number of homes sold exceeds the number of listings for sale, which may indicate a decline in demand.

Housing prices

As a result, there is a slowdown in the growth of housing prices in the city. Today, the minimum cost of an apartment in Istanbul is around 100,000 euros.

Residential complexes

The most sought-after properties in the so-called "sites" are residential complexes with high-quality infrastructure, including a swimming pool, gym, and a secured green area. However, it is important to remember that additional services will come at an extra cost.

City structure

Istanbul consists of 39 districts, each of which is divided into neighborhoods. The city continues to expand, especially in the west and northwest.

Prestige and cost of housing

The prestige and cost of housing depends on the proximity to water bodies: the Bosphorus Strait, the Sea of Marmara, Black Sea and the Golden Horn.

Differences between the districts

The European part of the city is densely populated and overloaded with traffic, while the Asian part of the city, which has 14 districts, offers free roads and a comfortable lifestyle.

Restrictions for foreigners

It is important to note that some areas of Istanbul are introducing restrictions on permanent residency for foreigners.

• The minimum cost of an apartment in Istanbul is around 100,000 euros.
• You are advised to consider properties in "cite" residential complexes with high quality infrastructure.

In conclusion, I can say that the development of the real estate market in Istanbul has its own characteristics and trends. This metropolis remains attractive to investors and homebuyers due to its unique blend of East and West, rich history, and modern technologies. Despite rising prices, some areas remain in demand and can offer good opportunities for both living and investment. It is important to consider the impact of political and social factors on the real estate market and to make informed decisions when choosing a property. Istanbul continues to evolve and change, providing new opportunities and challenges for residents and investors.