Property in Istanbul

Property in Istanbul: Classic City Real Estate 

Property in Istanbul is like that of any capital city (see below before emailing in anger). Istanbul is huge, with a massive number of shops, bars and restaurants -- including some familiar names -- and 2 international airports. Istanbul is also a coastal city, within range of many great beaches. Thus, the package is very attractive to holiday home buyers and investors.

But one of the greatest strengths of Istanbul property is people's surprise at the fact that prices are still really low, with properties for sale from 34,000 Euros. Because of the historical sites, and cultural diversity, as well as the city setting, Istanbul is a top tourist destination, and property owners can earn strong yields.

A Closer Look at the Attraction of Istanbul Property

Contrary to many people's belief, Istanbul is not the capital city of Turkey. Arguably, it is far more than that; it is the cultural, economic and financial centre of the country.

In a country as vast and diverse as Turkey; which touches Asia, Europe and the Middle East, the cultural centre is really something worth seeing and experiencing.

It comes as no surprise that Istanbul has a massive array of culinary experiences on offer in its many restaurants from around the world, or that it has shops selling almost everything the heart could desire. It also has a rich history, with many internationally recognised landmarks and attractions to marvel.

All this makes Istanbul attractive to holiday home buyers, and to tourists, which subsequently makes it popular with investors. Of course investors are also attracted by the potential for residential investments, owing to the massive population growth and rising affluence.

Founded by Constantine the Great and once called Constantinople, this fascinating Turkish city is filled with unusual stories and surprising facts

• Istanbul is the only city in the world which spans two continents. The western side of the city is in Europe and the eastern side of the city is in Asia. This makes it the nearest European city to Asia and the nearest Asian city to Europe. Despite being thought of more as an Asian city, the historic centre of Istanbul is on the European side of the divide.
• The Golden Horn is not the stretch of water which divides Europe from Asia, a common misconception. The Golden Horn is entirely in Europe. It leads into the Bosphorus, which is the water that divides the two continents and which joins the Black Sea with the Sea of Marmara, which in turn leads into the Mediterranean. This is one reason Istanbul has always been of great strategic importance.
• Istanbul has been capital of the Roman Empire, the Byzantine Empire, the Latin Empire, and the Ottoman Empire, yet it isn't the capital city of modern Turkey, which is Ankara. Istanbul is however the largest city in Turkey.
• Ankara became the Turkish capital on the founding of the Republic of Turkey in 1923.
• Istanbul has had several different names in the past, including Byzantium, Constantinople, Stamboul and Tsarigrad.
• Istanbul's old name of Constantinople came from the Roman Emperor Constantine the Great who rebuilt the city on seven hills, to match the famous seven hills of Rome.
• In 1930 the Turkish authorities came up with a simple way of ensuring that the new name of Istanbul was recognised and used throughout the world, along with the new names that were simultaneously given to major Turkish cities. Any mail that was sent using any other name was simply marked 'return to sender'.
• Despite its location in southern Europe and on the edge of the Asian continent, snowfall is common in Istanbul. The average annual snowfall is 18 inches.
• The estimated population of greater Istanbul is about 11 million people. At the last estimate, about 99.8% were Muslim.
• The founder of modern Turkey, Mustafa Kemal Ataturk, was actually born in Greece. He was born in 1881 in what was then the Ottoman city of Selanik, but which is now Greece's second city, Thessaloniki. The house in which he was born can be visited there.
• What is thought of as the archetypal Turkish headgear, the fez, is in fact of Greek origin. (Conversely, the typical Greek dish of moussaka originated in Turkey.) The fez in Turkish is fes, and was banned by Mustafa Kemal Ataturk in 1925.
• In 2010 Istanbul will be one of three European Cities of Culture.