Turkey

Apartments in the marvelously attractive Besiktas district are (of course) more expensive than elsewhere in Istanbul, with prices over €5,000 per square metre for the largest apartments. Lucky are those that live in this area of palaces and large houses, looking out onto the Bosporus!

Since last year yields for smaller apartments in Besiktas have improved. A 120 square metre apartment now yields a return of around 6.6%.  Yields fall off at the higher sizes, which are much more expensive to buy per square metre.

True, better returns can be had in the noisier Beyoglu which, though it can still command very high sales prices, is a more ‘work-oriented’ district and can return rental yields on apartments of 5%-8.7%

Bakirkoy is a mixed district, and has a large range of houses and apartments and areas, with higher-end apartments at around €3,800 per square metre, and smaller apartments average €1,700 per square metre.  Gross rental yields are around 6.4% on 120 square metre apartments – again slightly higher than last year.

Kadikoy on the Anatolian side of the Bosporus is another very mixed district, buzzing with life and students, largely residential.  As is to be expected, prices of residential apartments here have a wide range.  This year we found yields in this district to be disappointing, 120 square metre apartments here can return 3.5%

The very beautiful and wealthy Sariyer district is very expensive in its upper reaches, with residential property prices reaching over €3,000 per square metre.  But smaller apartments are good value.  Yields can be good, at around 6.9% on a 120 square metre apartment.

The varied Sisli district  has apartments mostly over €2,000 per square metre, and yields of around 5% on 120 square metre apartments.

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