Opportunities Beşiktaş Offers for Investment in Istanbul

Today we are going to talk about Beşiktaş, one of the first districts that comes to mind when it comes to Istanbul. According to the Ministry of Industry and Trade, Beşiktaş, the 3rd most developed district in Turkey, attracts everyone's attention with its location, energetic crowd, fans, various alternatives offered to all kinds of people, nature, places to visit, historical and cultural attractions. Beşiktaş has become a must-visit destination. In addition to having a pleasant time, the idea of what it will be like to live in Beşiktaş attracts the minds of investors. In this article, we will talk about the Beşiktaş district and its place in the real estate market as a real estate investment.

CONTENTS:

1.         BEŞİKTAŞ DISTRICT AND ITS CHARACTERISTICS

2.         BEŞİKTAŞ  HOUSING ANALYSIS

3.         THE IMPACT OF URBAN TRANSFORMATION ON BEŞİKTAŞ

BEŞİKTAŞ DISTRICT AND ITS CHARACTERISTICS

First of all, let us tell you a little bit about the history of Beşiktaş and then add some information about its current values. As you know, the borders of Beşiktaş are outside the walled city called "Old Istanbul". For this reason, it is said to have had little administrative influence during the reign of the Ottoman Empire. However, as the city began to grow outward from the walls and settlements on both sides of the Bosphorus increased, it became a very important point due to its geographical location. Today, there is 8.4 km of coastline and according to the address based population registration system, 182,649 people live in the district, which has 23 neighborhoods and 6 piers. One of the most important features is that the two Bosphorus bridges of Istanbul (Fatih Sultan Mehmet and 15 July Martyrs' Bridges) are located within the boundaries of the district. At the same time, the presence of places such as Dolmabahçe Palace, Yıldız Palace, Çırağan Palace, Ihlamur Pavilion, Vodafone Park Stadium and Maçka Park attracts a lot of interest from both local and foreign tourists. So what does it mean for investors to live or own real estate in such a pleasant district? Let's examine Beşiktaş's place in the real estate market. 

BEŞİKTAŞ  HOUSING ANALYSIS

First of all, we serve to offer you the real estate you dream of in Istanbul, Beşiktaş, Ulus, Etiler, Bebek, Çeşme and Bosphorus line. Do not forget to contact us for investment, rental property search, selling your existing property or free consultation service. (www.pinaryucel.com)

First of all, let us examine the data of the Urban Planning Directorate of Istanbul Metropolitan Municipality. According to the published data, some distributions of the 1757 hectare area of Beşiktaş district are as follows ;

The mobility of such a prominent district in the real estate market is not surprising. The fact that the existing residential area constitutes almost half of the district and the renewal of the district with urban transformation projects reinforces Beşiktaş's preferred position in the real estate market. Now, we invite you to examine TurkStat's data on housing sales (number of sales) for 2020, 2021 and 2022 on a monthly basis.  

In addition to the TurkStat data, according to the research conducted by Keller Williams Turkey Group, we can see that the average erosion rate of houses in Beşiktaş district is 12 months. We can say that the inflation-adjusted price index has been increasing on a point basis since January 2022. (See: In the Name of the Power of Numbers: KWTurkey)

 THE IMPACT OF URBAN TRANSFORMATION ON BEŞİKTAŞ

In the introduction of our article, we mentioned that Beşiktaş is an old and well-established district. As such, we would like to mention some issues that both add value to the district and affect the real estate market, such as the old settlements in the district, the presence of deep-rooted historical buildings, and the presence of protected areas. 
We know that Istanbul has a long history and has been home to many civilizations and empires. We also know that it is a city located on the North Anatolian Fault Line, one of the fault lines in our country. We know that urban transformation projects are being carried out in areas that are necessary for the safety of life and property of people and the city. One of these regions is, of course, the Beşiktaş district, which is our topic today. The first step of the urban transformation projects in Beşiktaş has been initiated in the Akat neighborhood as of October 2022. We are closely following this process for our clients and the real estate market, and we are shaping our portfolios accordingly. 

 As a result, Beşiktaş, one of the most popular neighborhoods in Istanbul, will continue to be a focus for investors. With its investment opportunities, comfortable living spaces, being one of the cultural and entertainment centers of Istanbul, nature and the Bosphorus, it is an attractive district in every way. As Pınar Yücel and her team, we serve our clients in Ulus, Etiler, Bebek, Çeşme and the Bosphorus Line to offer you the real estate you dream of.