Apartments and flats for sale in Istanbul

Apartments in Istanbul with residence permit

The steady increase in the cost of apartments in Istanbul proves that this type of property is suitable for both personal use and income generation. The pleasant climate, cultural attractions, developed infrastructure and government programmes aimed at attracting foreign investment ensure high demand from expats and tourists.

There is a wide variety of flats for sale in Istanbul. You can find everything from small studios and apartments with 1 or more bedrooms to luxury penthouses. Investors pay attention to both modern complexes with new residences and old buildings offering secondary objects.

A large proportion of purchases of apartments and flats in Istanbul takes place in Şişli, Beylikdüzü, Cagithan, Esenyurt and Küçükçekmece. These neighbourhoods attract buyers with their well established transport systems to any part of the city, the availability of all the social facilities necessary for life such as schools, hospitals and shops, numerous leisure and recreational facilities, and beautiful nature.

Residence permit in Turkey by buying an apartment in Istanbul

A foreigner can buy an apartment in Istanbul and get a residence permit. The same law includes properties of other types as well. What potential participants in the immigration programme need to know:

• the cost of an object must be at least $200,000;
• the principal applicant must confirm that he or she has not participated in similar programmes in the past;
• the residency is valid for 2 years;
• the residency status can be renewed as long as the foreigner remains the owner of the property;
• family members of the investor may be included in the application;
• a resident becomes eligible for naturalisation citizenship after living in the country for 5 years.

Foreigners also have the opportunity to obtain immediate Turkey citizenship by investment through purchasing real estate for $400,000 or more.

Investment apartment in Istanbul

The popularity of apartments in Istanbul for investment is due to their potential for capital appreciation and rental yields. The high demand for these properties from expats and tourists is supported by the following factors:

• strategic location at the junction of Europe and Asia;
• international airport allowing access to 100+ countries worldwide;
• rapid development of social infrastructure, providing new shopping centres, residential complexes and business districts;
• an improved transport network with new bridges, tunnels and motorways, as well as an expanded metro system;
• a large expat community of different nationalities;
• a first-class education system with international schools and universities;
• an attractive environment for business, trade and manufacturing;
• numerous attractions such as the Sultanahmet Mosque and Topkapi Palace.

The above factors, along with favourable exchange rates, a fast-growing economy and government incentives to attract foreign investment, make local studios and apartments some of the most sought-after properties on the property market in the country. Between January and August 2024, the average apartment prices in Istanbul increased by 54.64%. This trend is attracting investors looking to make money from reselling property in Turkey.

Landlords can also expect high and stable profits with the right choice of apartment location. The average rental yield in the city is 6.63% per annum. Investors are advised to pay special attention to such districts as Şişli (7.62%), Beylikdüzü (9.72%), Cagithan (7.17%), Esenyurt (9.26%) and Küçükçekmece (7.22%).

Daily rentals are the most profitable, but they require more involvement on the part of the owner. An owner of an investing apartment in Istanbul can delegate some of the tasks to a professional property management company. Specialists will take care of finding and settling tenants, cleaning, repairs and maintenance.