Luxury Real Estate Agent Istanbul: Condominium, House & Capital Investment

Istanbul – The real estate sector accounted for about 8.4 percent of GDP over the last decade. Investment in the real estate sector has recently reached 5.9 billion USD / year. As a real estate agent you know: Istanbul is perfect for investors, capital investors and those who later want to live and work in one of the most vibrant European/Asian cities. Compared to other metropolises, you as a real estate investor get many square meters for your money, for example 4x as much as in New York and almost 30% more than in Berlin. The metropolis of millions is considered an important centre for trade, finance, media and culture. Istanbul is situated between the Mediterranean and the Black Sea. The city area surrounds the Bosporus, a strait with a high volume of ships. Its remarkable transit location is complemented by two airports. Good infrastructure, stable economy and a lot of culture – welcome to Istanbul.

New investments! View new condominium now

İyi günler – Here are our new properties that you can invest in now:

Istanbul, 41250: Villa & Wintersport in Kartepe

1.810 SqFt cardpe

Istanbul, 34530: Penthouse Loft in Kumburgaz

2,970 SqFt Kumburgaz – $570,000

Invest & Buy in Istanbul? Condominium, townhouse or country house

A metropolis of millions on two continents – Istanbul is the fastest growing metropolis in Europe. No other city gains so many inhabitants so quickly. This means that nowhere else in Europe are so many new apartments being built. That is why Istanbul’s real estate market is one of the hottest addresses in Turkey. The European and Asian sides are almost identical at first glance.

Turkey is one of the most promising real estate markets in Europe, and the mantra “location, location, location” applies especially to this country. Strategically located at the crossroads of Europe, the Middle East and Central Asia and home to nearly 82 million people, Turkey offers great opportunities for real estate developers and investors by combining a large construction sector with growing commercial and industrial production.

Home of 82 million people + stable growth

Investments, urban renewal and megaprojects

The real estate sector accounted for about 8.4 percent of GDP over the last decade. On the investment side, FDI inflows amounted to US$13 billion, with real estate and construction accounting for US$5.9 billion (45 percent) of total FDI in 2018. Urban renewal and mega-projects dominate the agenda for the foreseeable future, especially in Istanbul. Projects in the city include Marmaray, the Istanbul Canal, the Yavuz Sultan Selim Bridge, the Eurasia Tunnel, the three-story Grand Istanbul Tunnel and Istanbul’s third airport. The urban renewal and development initiative will comprise 7.5 million residential units. The Initiative has a budget of 400 billion US dollars, with the private sector making a major contribution.

Investments last 5.9 billion USD / year

Sold houses: Real estate in Turkey

The total number of houses sold on the Turkish real estate market reached 1.4 million units in 2018; the sale of real estate to foreigners also started to increase after the abolition of the Mutuality Law in 2012. In 2018, 39,663 houses were sold to foreigners in Turkey, which is an increase of 78.3 percent year-on-year. In terms of house sales to foreigners, Istanbul was the most powerful province with 14,270 sales in 2018, followed by Antalya with 7,938 sales, Bursa with 2,720 sales and Ankara with 2,133 sales.

39,663 houses bought by foreigners

Office and business: Real estate in Istanbul

By the end of 2019, the existing Class A office portfolio in Istanbul will have exceeded 5.7 million square meters. The annual growth in gross lettable space on the office market averaged around 42 percent between 2010 and 2019. There are more than 1.7 million square meters of office supplies under construction and it is expected that all Class A office supplies will reach almost 7.4 million square meters of gross leasable space by the end of 2023.

Despite growth in recent years, Turkey is still below the European average in terms of total lettable space per person. This indicates a potential for further retail growth in Turkey.

Summarized: Istanbul in numbers

Total number of house sales in Turkey between 2013 and 2018:

  • 8 million

Total housing stock in Turkey in 2018:

  • 34.2 million

Total number of house sales to foreigners in Turkey between 2013 and 2018:

  • 134,000

Class A office supplies in Istanbul in 2019:

  • 5.7 million square meters

Active gross lettable area in shopping centres throughout Turkey in 2019:

  • 14.5 million square meters.

Total portfolio of logistics properties in Istanbul in 2019:

  • 4 million square meters

Purchase, rent & finance so directly

Tip! Buy now, rent first, live in yourself later. Especially if you have roots in Turkey and live in Germany, an attractive option for real estate financing.

Map: City and region

view from the Bosborus

How much is a square foot? Cities comparison

Here you can see the current square metre prices worldwide. The big question is how much living space you get, exemplarily for 1,000,000 US dollars. Similar to the “Big Mac Index”, this calculation is good for comparing different cities.

While you can only buy 16 m² for 1 million in Monaco, 25 m² in New York and 28 m² in London, as an investor in Istanbul you can get 98 m² for the same price. In comparison, you would currently get 77 m² in Berlin.

For 1 million US dollars you get:

  • Monaco – 16 m²
  • New York – 25 m²
  • London – 28 m²
  • Berlin – 77 m²
  • Istanbul – 98 m²

Living in Istanbul

Condominium

Chic, modern and above all noble, that’s how people in Istanbul build and prefer to live. They also like fresh flowers, which grow and blossom here in the Mediterranean climate almost all year round.

Generous space is naturally included.

Buy a holiday home or buy a weekend home? Not far from Istanbul, only 20 minutes by car with free travel, is Kartepe, the “Ischgl of Turkey”:


Friends, cosiness and leisure time

Statistics

As you have already learned above, Istanbul offers a lot of space for real estate investors. While you can only buy 16 m² for 1 million in Monaco, as an investor in Istanbul you can get 98 m² for the same price. Once again for comparison, in Berlin you would currently get 77 m². But apart from the purely quantitative factors of the property, the economy and politics also count when choosing a location. Here is a look at current surveys and forecasts for the future of Istanbul.

GDP (gross domestic product): forecast 2024

Gross domestic product (GDP) in current prices from 1980 to 2018 and forecasts to 2024 (in billions of US dollars).

Statistics: Turkey: Gross Domestic Product (GDP) in current prices from 1980 to 2018 and forecasts to 2024 (in billions of US dollars) | Statista
More statistics can be found at Statista

GDP growth (gross domestic product): forecast 2021

Turkey: Real Gross Domestic Product (GDP) growth from 1980 to 2019 and forecasts to 2021 (year-on-year).

Statistics: Turkey: Growth of the real gross domestic product (GDP) from 1980 to 2019 and forecasts until 2021 (compared to the previous year) | Statista

Inflation rate: forecast 2021

Inflation rate from 1980 to 2019 and forecasts to 2021 (compared to the previous year).

Statistics: Turkey: Inflation rate from 1980 to 2019 and forecasts to 2021 (compared to the previous year) | Statista

Population: Forecast 2024

Here you can see the total Turkish population from 1980 to 2018 and forecasts until 2024 (in millions of inhabitants).

Statistics: Turkey: Total population from 1980 to 2018 and forecasts to 2024 (in millions of inhabitants) | Statista

Price level in comparison: Living in the city

How cheap or expensive is life in Istanbul? Compared to the other metropolises, you will quickly see that life in istanbul is relatively cheap with only 66.3 points. In Germany the price level is currently 73.8 (Munich) and 72.6 (Frankfurt). Price level in the world’s most important metropolises (in points):

  • Oslo 103.0
  • Zurich – 100.0
  • Tokyo – 83.4
  • New York – 74.1
  • London – 73.9
  • Istanbul – 66.3

Statistics: Price level* in the world's most important cities in 2011 (in points) | Statista

Valuation: Fragile States Index (FSI)

Evaluation according to the Fragile States Index (FSI) from 2010 to 2020.

Statistics: Turkey: Evaluation according to the Fragile States Index (FSI) from 2010 to 2020 | Statista
More statistics can be found at Statista

Weather in Istanbul

Istanbul is very pleasant, even in summer the temperature rarely climbs above 30 degrees.

Max/min (°C) on average:

  • July mostly 29 ° / 20 °
  • August mostly 29 ° / 20 °
  • September mostly 25 ° / 17 °
  • October mostly 20 ° / 13

Weather current: Temperature, wind & sunshine hours

Temperatures today:

Rain and wind in Istanbul: