Buying Abroad: Istanbul, Turkey
It’s hard to not be inspired by Istanbul. Just a walk along the Bosphorus can make the most apathetic of souls a seasoned poet in a matter of minutes.” – Aylin Erman
For the first twenty or so years of my life I hadn’t known much about Turkey besides what I might have read in a history class. That all changed when one of my good friends married a woman of Turkish descent, and went to visit her family in Istanbul for a few weeks. I practically stalked his Instagram page to see the onslaught of postcard-worthy photos of pristine beaches, museums and home-made staples like Köfte and Baklava. His stunning photos of life in Turkey along with his stories about his travels throughout the country opened up a curiosity in me that can only be quelled by an actual visit there.
While I haven’t had the opportunity to visit Turkey yet, the next best thing I could do is speak to someone who lives and works in the thriving city of Istanbul. In our third installment of our “Buying Abroad” series, we’ve got broker Melek Saracer shedding some light on what makes living and buying in Istanbul such a special experience.
Turkey, with its 80 million people, is a very large country enveloped by Seas from the north, south and west sides; as well as by neighbors like Russia and some Arabic countries. In a move that has increased demand in our country, the government decided in 2012 to make it legal to sell homes to foreign buyers. These legislative changes to Turkish Laws have resulted in an influx of buyers and investment from across Asia, Europe and America. In fact, every year there is a 20% increase in the number of home sales to foreign buyers.
Istanbul continues to grow rapidly. The metropolitan area of the greater Istanbul area has been extending further and further towards Asia and Europe as of late, with new housing developments that can sport thousands of units. In addition to these housing complexes, development has also included shopping, hotels, hospitals, schools and universities. These “Satellite Towns” are connected to Istanbul and to the Airports through Subways and/or buses – making them extremely convenient suburbs to live in.
From a luxury homes perspective, wealthy foreign buyers are looking at luxury waterfront “Yali” houses on the Bosphorus – which boasts some of the most beautiful sunsets you could ever see.
Sure the homes are stunning, as are the views, but there is more to love than just the homes and the vistas. Turkish people are very friendly and endlessly hospitable! The food is great (I can attest to this) and so is the comfort that comes from consistently good service.
The nightlife in Istanbul, Antalya and Bodrum are vibrant and include world-class restaurants and designer shopping. Besides the nightlife, nature is also all around you – from sun drenched beaches on over to beautiful mountains.
On the European side, one could find a standard 1,000 square foot home between $150,000 – $350,000 USD. If you’d be looking to buy on the famed Bosphorus, you’d be hard pressed to find a home for below $600,000 USD.
Melek Saracer, Coldwell Banker Art Turkey
I’ve always said that work is best when it is in alignment with what moves you, and it is evident that Melek’s work of finding home for people in Istanbul moves her. If her description of life in Istanbul has peeked your curiosity, visit coldwellbanker.com.tr to see some beautiful homes!