|Last Updated: Mar 20, 2016|
|Bakırköy apartments||COST ()||YIELD (p.a.)||PRICE/SQ.M. ()|
|TO BUY||MONTHLY RENT||TO BUY||MONTHLY RENT|
|50 sq. m.||183,150||634||4.15%||3,663||12.68|
|120 sq. m.||322,560||998||3.71%||2,688||8.32|
|60 sq. m.||152,040||695||5.49%||2,534||11.59|
|120 sq. m.||449,280||1,229||3.28%||3,744||10.24|
|50 sq. m.||131,050||678||6.21%||2,621||13.56|
|120 sq. m.||364,440||1,151||3.79%||3,037||9.59|
|55 sq. m.||151,745||587||4.64%||2,759||10.67|
|120 sq. m.||271,440||912||4.03%||2,262||7.60|
|70 sq. m.||237,160||904||4.57%||3,388||12.91|
|120 sq. m.||254,760||1,163||5.48%||2,123||9.69|
|Bakırköy District: Ataköy, Yeşilyurt, Yeşilköy
Beyoğlu District: Cihangir, Taksim
Beşiktaş District: Etiler, Bebek, Levent, Ortaköy
Kadiköy District : Bagdat Avenue , Moda
Bagdat Avenue : Bostanci, Çatalçesme, Suadiye, Saskinbakkal,
Erenköy, Caddebostan, Göztepe, Çiftehavuzlar
Selamiçesme, Feneryolu and Kiziltoprak.
Sariyer District : Büyükdere, Yeniköy
Sisli District: Nisantasi , Tesvikiye
Source: Global Property Guide Definitions: Data FAQ See also: Update Schedule
Istanbul is less expensive this year for almost all foreign buyers, due to the dramatic recent decline in the Turkish New Lira. However the bad news is that over the past three years, gross rental yields for apartments have fallen significantly, due no doubt to the pressure on the Turkish economy.
Apartments in the marvellously attractive Besiktas district are (of course) somewhat more expensive than elsewhere in Istanbul, with prices of just above 3,600 per square metre for 120 square metre (sq. m.) apartments. Lucky are those that live in this area of palaces and large houses, looking out onto the Bosporus!
A 120 square metre apartment in Besiktas now yields a return of around 3.1%, versus 6.6% two years ago. Yields fall off significantly at the higher sizes, which are much more expensive to buy per square metre.
Bakirkoy is a mixed district, and has a large range of houses and apartments and areas. Prices for small apartments here are as high as in Besiktas. Gross rental yields are around 3.0% on 120 square metre apartments again significantly lower than three years ago.
True, better returns can be had in the noisier Beyoglu which is a more work-oriented district. But here too yields have fallen far since we last surveyed it, especially for larger apartments. Yields are down to 4.1% to 5.2%, from 5% to 8.7% three years ago.
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 the same as last year, 120 square metre apartments here can return 4.3%. Smaller apartments here have reasonable yields of 5.4%
The beautiful Sariyer district is expensive in its upper reaches, with residential property prices reaching 3,900 per square metre, again down significantly on recent highs.. But smaller apartments are good value. Yields are again down very significantly, to around 2.4% on a 120 square metre apartment.
The varied Sisli district has apartments mostly over 2,700 per square metre, and yields of around 4.0% on 120 square metre apartments.
Round trip transaction costs are reasonable in Turkey. See our Poland transaction costs analysis and our Turkey transaction costs compared to other countries.
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