Samet Bülbül – Noyan Global CEO “Istanbul’s real estate market remains the most dynamic in Türkiye.

Why has real estate investment in Istanbul become so popular in recent years? What are the key factors that make Istanbul attractive, especially for Turks living abroad?

“There are several key reasons behind Istanbul’s rising popularity. First, Istanbul is Türkiye’s economic, commercial, and cultural center. This keeps demand for both residential and commercial real estate consistently strong. Second, the city has a very large population and a highly dynamic lifestyle, which makes real estate attractive not only for living but also as an investment. In 2025, a total of 1,688,910 housing units were sold across Türkiye, and Istanbul accounted for the largest share with 280,262 sales. It also ranked first in sales to foreign buyers, with 7,989 units sold in 2025.

From the perspective of Turks living abroad, Istanbul becomes even more attractive. With savings in foreign currency, buyers often gain stronger purchasing power. Additionally, Istanbul offers a sense of security in terms of family ties, lifestyle planning, and long-term investment. Many investors aim to generate rental income while also owning an asset they may use in the future.”

What is the overall state of Istanbul’s real estate market? What can you say about recent price increases, demand, and investment trends?

“Istanbul’s real estate market remains the most active in Türkiye. Demand is strong, but investors have become more selective compared to the past. The mindset is no longer ‘everything will appreciate.’ Instead, factors such as location, project quality, transportation access, and rental potential are evaluated together. In 2025, housing sales in Türkiye increased by 14.3% compared to the previous year, and Istanbul maintained its clear leadership in total sales. Although the share of foreign buyers declined, Istanbul continued to be the most preferred city for international investors.

On the pricing side, increases are continuing, but the market is now progressing in a more balanced way. As of the fourth quarter of 2025, the average residential unit price in Istanbul was reported at approximately 74,153 TL per square meter. This shows that Istanbul remains both the most expensive and the most in-demand market.”

Why can buying property in Istanbul be a profitable investment for Turks living abroad? How do currency advantage, rental income, and value appreciation play a role?

“For Turks living abroad, investing in Istanbul typically offers a dual advantage. The first is the currency advantage. For someone earning or saving in euros, dollars, or pounds, real estate in Türkiye can periodically become more affordable. The second advantage is the combination of rental income and long-term value appreciation.

On the rental side, Istanbul remains a strong market. According to BETAM–sahibinden data, as of March 2026 (based on February data), annual nominal rental increases in Istanbul reached 40.6%, with real rents also showing year-on-year growth. This indicates continued strong demand for rental housing. In terms of return on investment, market reports suggest that the average payback period in Istanbul is around 15 years, although this varies significantly depending on location, property type, and purchase price.

The key point is this: for international investors, Istanbul represents not only current rental income but also long-term appreciation in local currency and strong liquidity when it comes time to sell.”

Which areas are most preferred for investment in Istanbul? Which districts are expected to gain more value in the coming years?

“The investor’s objective is critical in answering this question. If the goal is prestige and strong demand, central and established districts such as Sarıyer, Beşiktaş, Şişli, Kadıköy, and Üsküdar stand out. However, for those seeking higher appreciation potential, emerging areas influenced by transportation investments are more attractive.

In the coming years, value increases are expected to be more pronounced along new rail and transportation corridors. Istanbul Metropolitan Municipality’s 2026 investment program includes projects such as Mahmutbey–Halkalı–Bahçeşehir, Yenikapı–İncirli–Sefaköy, and Ümraniye–Ataşehir–Göztepe lines. As transportation infrastructure improves, surrounding real estate markets typically see increased demand.

I usually group investment areas into three categories: safe-haven locations, rental-income-focused areas, and high-growth potential zones. Districts such as Başakşehir, Halkalı, Kağıthane, Eyüpsultan, Sancaktepe, Pendik, and Kartal are closely followed by investors due to transportation projects and new developments. However, rather than generalizing, project-based analysis is always more accurate.”

What kind of rental income can a property investor expect in Istanbul? How does the rental market look in the short and long term?

“Rental income in Istanbul cannot be defined with a single figure, as it varies significantly depending on district, square meters, building age, transportation access, and site features. However, broadly speaking, a well-located property can generate steady rental income, and return periods in developing areas can be more reasonable. Market data suggests an average amortization period of around 15 years in Istanbul, though this is longer in central districts and shorter in areas with strong demand but relatively balanced entry prices.

The rental market in Istanbul remains vibrant. According to BETAM–sahibinden data, annual rent increases exceeded 40% in early 2026. This indicates sustained demand, especially for long-term rentals. For short-term investors, purchase price is critical; for long-term investors, rental income and capital appreciation should be evaluated together.”

What should Turks living abroad pay attention to when buying property in Istanbul? What are your recommendations regarding title deed processes, reliable project selection, and legal procedures?

“In my opinion, the most important factor is reliability. Since overseas investors manage transactions remotely, they must first evaluate the credibility of the consultancy firm and the project. Title deed status, occupancy permits, condominium ownership, and whether there are any mortgages or liens must be carefully checked. For off-plan or new projects, the developer’s track record in delivering past projects is also crucial.

Secondly, investors should not rely solely on the sales narrative. They should analyze actual rental values and comparable sales in the area. A good investment is not just about a nice project, but about buying at the right price.

Third, the legal process must be professionally managed. Official documents should be reviewed before the title deed transfer, legal support should be obtained if necessary, and payment plans and contracts must be carefully examined. While power of attorney provides convenience for overseas buyers, its scope must be properly defined.

My general recommendation is this: first choose the area, then shortlist projects, then conduct legal and technical due diligence, and finally proceed with payment and title transfer. Investors who follow this sequence act much more securely.”

What is your outlook for Istanbul’s real estate market over the next 5–10 years? How do you see its future as an investment destination?

“I believe Istanbul will remain strong in real estate in the medium to long term. This city is not only the center of today but will continue to be a center of the future. According to a KONUTDER–PwC study, total housing demand in Istanbul between 2025 and 2034 is projected to reach approximately 1.22 million units. This is a very important indicator of sustained long-term demand.

However, not every project will deliver the same returns going forward. A more selective market will become even more evident. Factors such as earthquake resilience, transportation access, energy efficiency, residential amenities, and urban transformation potential will become increasingly important. In short, Istanbul’s future is strong, but choosing the right asset is more critical than ever.”

How can readers or listeners contact you?

“Anyone interested in investing in Istanbul, especially those living abroad who want to manage the process securely, can contact me directly. I provide professional support at every stage of the investment process, from area analysis and project selection to rental evaluation and title deed procedures.”

Phone; +90 555 071 52 55

Instagram; https://www.instagram.com/samet_noyanglobal