Penthouses for Sale in Istanbul
What Should you Know Before Buying a Penthouses in Istanbul?
Penthouses in Istanbul are considered as one of the most luxurious and spacious properties in the city. Most of the penthouses of the city have great views, some of them are located in the city center and facing the beautiful Bosphorus of Istanbul. Penthouses with sea views are also available mostly overlooking the Marmara Sea, and for those who prefer high-raised buildings, many alternatives of penthouses are available in different parts of the city providing the unique view of the city’s nightlights. Nowadays, penthouses in Istanbul can also be found in newly developed stylish compounds, providing even more luxury lifestyle for its occupiers. With a huge green landscape, many different types of social facilities and 24/7 security penthouses in compounds became the most preferable option among locals and foreigners at the same time. Even though penthouses are considered to be super luxury types of property, buying a penthouse in Istanbul would be considered a great investment due to the rapid development of the city and the increasing demand for real estate in Istanbul. Istanbul’s strategic location and the advanced transportation networks all around the city are boosting the real estate market positively.
How are the Average Prices for Penthouses in Istanbul?
The location would be the first and most important factor determining the price of a penthouse in Istanbul. Penthouses located in the city center are considered to be the most expensive in the city; especially those penthouses overlooking the Bosphorus. Moving slightly away from the central areas would offer you lower prices and larger units. Quality of the construction, views of the penthouses, the space of the property and the available facilities are also important to determine the price of a certain penthouse. The modern stylish residential compounds have proved to be the most demanded properties among local and foreign investors.
Where Can You Find Penthouses for Sale in Istanbul?
Penthouses for sale in Istanbul can be found in different areas of the city, some of these areas are located in heart of the city such as Sisli, Bomonti, Taksim, Maslak, and Atakoy. Penthouses in these areas are located in newly built stylish residential compounds, these penthouses are suitable for people who prefer modern types of penthouses. Views in these areas are Istanbul’s Bosphorus, Marmara sea and Belgrad forest. Historical and old penthouses in Istanbul for sale can be found in the ancient seaside parts of the city such as Sariyer and Bebek, penthouses in these areas are overlooking the Bosphorus. Even though these properties are old, they are quite expensive due to their prime location and for some of them their historical construction has a massive value. Most of these penthouses require renovation and reconstruction as they are quite old. Similar to the ordinary property, the far we go from the city center the more affordable prices we can get for penthouses. Developing suburbs such as Beylikdüzü, Bahçeşehir, Başakşehir and Basin Express offer us more affordable prices for penthouses. These areas are developing rapidly and offer the investors the chance to get higher value appreciation in comparison with the central areas.
Where Can You Find Shops for Sale in Istanbul?
It is hard to find a shop for sale in Istanbul’s famous streets like Bagdat, Nisantasi, Taksim, the same can be applied for the already operating malls. These shops are too expensive and rarely offered for sale. Even when you rent a shop in a fully operating area, you have to pay some amount for the current tenant to leave the shop. Shops for sale with reasonable prices can be found in the new projects which are under construction. Especially when buying the shops at the early stages, the best alternatives are still available for sale additionally, the asked prices in the early stages for shops are so reasonable and competitive in comparison with an already operating shop. One of the most important developing areas in Istanbul is Basin Express area, it is located in a strategic location between the city center and Istanbul’s new airport. It is being developed rapidly dude to the subway lines which will reach the new airport passing through this rapidly developing area.
Brand New Penthouses for Sale in Istanbul
Some would argue that buying an old penthouse seems like a better choice compared to buying a brand new penthouse in a newly developed residential compound. You would change your mind after reading the following facts in our opinion. Brand new residential projects have a special modern life atmosphere. They have social facilities such as swimming pools, gyms, shopping malls, and restaurants, etc. all of these facilities are available for compound occupiers. Furthermore; the security, privacy and the international atmosphere provided by such compounds can’t be found in an ordinary property. Pricewise it can be said that compound prices are relatively similar to ordinary property prices. Overall, the value gained in complexes is well worth a slightly higher price. Lastly, in most cases old or historical penthouses need an expensive renovation for it to be useable and the estimated costs can equal the price of the old property itself. As a result of all of the previously mentioned factors, compounds are considered to be preferred among local and foreign investors.
How Can You Buy the Best Penthouses in Istanbul?
- Try to specify the suitable size and budget for the required penthouse. This will help you avoid limitless alternatives all around the city, and focusing on suitable options.
- Check several alternatives, prices, and spaces for properties changes a lot from one area to another in Istanbul. Try to check different areas and projects to find the most suitable alternative for your preferences.
- If you are looking for higher value appreciation, go far from the city center. Try to go for alternatives located in the brand new project of the developing areas as they will grant you higher value appreciation within a shorter period compared to city center penthouses. Additionally, the prices for penthouses in the suburbs are more affordable and installment plans are also available.
- Prioritize penthouses located in compounds due to their competitive advantages as they provide more luxury lifestyle for their occupiers. The huge green landscape, many different types of social facilities and 24/7 security made compound’s property a better choice for locals and foreigners.
- Always research the developers, their construction history, reputation and the quality of their constructions.
- Consider buying an off-plan property, buying properties under construction will give investors the chance to gain an appreciation value within a short period, especially when buying with the initial prices. It is important though to choose a powerful developer with a good reputation to avoid the risk of being behind the deadline.
- Always check the attached fees, such as management fees, maintenance fees, and title deed fees. You need to take these fees into account to avoid any surprises in the future.