Luxury mansions, expensive designer villas and astounding penthouses are in high demand all over the globe. In Istanbul, the cost of such properties starts from $1,000,000. Moreover, old mansions are sometimes for sale here but the cost of such houses exceeds $100 million. Read on to discover more about Istanbul’s elite real estate.
The Most Expensive Real Estate in Istanbul
The best real estate in Istanbul is the Yalı mansions built in the 18th, 19th and 20th centuries on the shores of the Bosphorus. Like most old Turkish houses, these mansions were built of wood. However, today, after the restoration of these houses, the wood is left only as a decoration on the mansion’s facade. Some of the houses are still privately owned, and rich Turkish families live in them, while others have been transformed into luxury hotels. In any case, these properties are the most expensive real estate in Turkey today. The cost of these mansions exceeds $100 million.
In addition to Yalı mansions, many modern two- and three-storey villas have been built on the shores of the Bosphorus. However, unlike old mansions, whose size can reach 3000 square metres, they are slightly smaller, on average 700 to 1000 square metres. The villas are built both as separate buildings and as part of residential complexes. Detached houses are guarded, as a rule, by private security guards hired by the owner of the property. Cottage communities are centrally guarded, and this service is paid for by all property owners. Prices for such real estate start from $1,000,000.
Buyukada, Islands, Istanbul. Photo: Hulki Okan Tabak (Unsplash)
Penthouses are another type of luxury real estate in the city. Almost 50 skyscrapers, including residential ones, have been erected in the city. The size of such penthouses varies from 350 to 1000 square metres and prices start from $1,000,000. Penthouses usually have two levels.
The best property for each buyer depends on their personal preferences. If they value a secluded lifestyle, and they have a large family, then a private house is more suitable. Penthouses are usually chosen by families with grown-up children or wealthy bachelors. In addition, residential complexes often have a better developed infrastructure than gated communities. For example, restaurants, cafes, and shops are often built on the first floors. Villa complexes offer a more private atmosphere. In addition, villas are more often sold on the coast, while skyscrapers with penthouses are built mainly in the business districts of the city. As for the old Turkish mansions, these are rare properties and not every affluent person can afford them.
New buildings in Turkey
In Istanbul, you can purchase villas in the Üsküdar, Sarıyer, and Beşiktaş districts. For example, in the Bahçeköy area in Sarıyer district, surrounded by the Belgrad Forest, a villa of 750 square metres costs $7,500,000. There are six bedrooms, each with a private bathroom and a walk-in wardrobe, and a spacious living room with a fireplace. The kitchen is fully furnished and equipped with a marble countertop and household appliances. In general, it has everything a professional chef could need. In addition, the house has a mini-cinema theatre, a playroom, a bathroom with a jacuzzi, a laundry room, a boiler room, a swimming pool with a relaxation zone, and a garden of 1550 square metres. The property is for sale in a gated community with a total of 36 villas. There is a communal swimming pool, tennis and basketball courts, a gym and billiard halls in the community. The best schools in Istanbul, a university, a private clinic, supermarkets, and a shopping mall are all a 20-minute walk away.
In the Zekeriyaköy area in Sarıyer, you can buy a mansion of a much larger floor area (1400 square metres) at $6,200,000. The house has six bedrooms with private bathrooms, a swimming pool, a separate kitchen, a spacious dining area, two living rooms (on the first and second floors), an outdoor terrace, a garden of 2000 square metres and several parking spaces. The property is a 20-minute drive away from the Levent and Maslak business districts.
Another villa in Sarıyer with an area of 520 square metres and views of the Bosphorus costs $5,955,800. The house has five bedrooms with private bathrooms, a swimming pool, and a garden of 1000 square metres. The villa is located in a gated complex, with 12 low-rise blocks of 48 flats. A three-bedroom flat with an area of 235 square metres costs $1,985,200. There are two communal swimming pools, a cafeteria, a snack bar, gardens, walking paths, a tennis court, a gym, a fitness centre, a wellness centre, and recreation areas. The property is located a 20-minute drive away from the Taksim and Şişli districts.
The best penthouses are in Şişli, Kadıköy, and Beşiktaş. For example, in the Mecidiyeköy area in Şişli, a penthouse in a residential complex of 42 floors costs $6,750,000. The floor area of the property is 574 square metres. The penthouse has five bedrooms, three bathrooms, and a balcony. The residential complex has a car park, a fitness centre, a private children's club, a swimming pool, a concierge, a video surveillance system, and security. There is also a restaurant, a cafe, shops, a cinema, and a sauna on site. The nearest beach is one kilometre away from the complex, the bridge over the Bosphorus is four kilometres away. The nearest educational institutions are Haliç University, Armada Schools Mecidiyeköy Final Basic High School, British English Language School, Private Primary School Ufuk, Private İstanbul Başarı College, Ata College, Saadet Special Education Vocational School, Hasan Kalyoncu University, and İstanbul Bilgi University. There are several large clinics and hospitals, and four shopping malls in the area.
However, there are also penthouses of smaller sizes and in lower-rise buildings available for sale in the city. For example, in the Caddebostan area in Kadıköy, a penthouse of 350 square metres costs $2,880,000. It has four bedrooms and three bathrooms, a walk-in wardrobe, a terrace, a furnished and equipped kitchen. The height of the residential complex is 12 floors. There are 24 flats in total, there is an outdoor swimming pool, a covered parking, a concierge, and CCTV cameras The complex is located in one of the most popular areas of Istanbul, where there are many famous restaurants, cafes, and shops. A few minutes' walk away from the complex, there is a well-maintained promenade with walking and jogging paths.
In the Ortaköy area in Besiktas, you can buy a penthouse with a floor area of 595 square metres in a five-storey complex. The property has six bedrooms, four bathrooms, a furnished and equipped kitchen, and costs $6,460,000. The penthouse features views of the Bosphorus. In total, there are 11 low-rise buildings in the development, with 117 flats. There are indoor and outdoor pools, saunas, spas, gyms, vitamin bars, yoga and Pilates halls, massage rooms, Turkish baths, walking paths, gazebos, children's pools, playgrounds, and a covered car park. The complex has a gardener and round-the-clock security. All houses are equipped with a smart home system. The complex is located 300 metres away from the Zincirlikuyu station, and 500 metres away from the Zorlu Shopping Centre.
In a Nutshell
The old Yalı mansions are considered the most expensive and desirable properties in Istanbul, but they are rarely for sale. The sale of such a mansion is an event covered by the media. In the Turkish metropolis, villas and penthouses are the most common types of expensive real estate. Compared to historical mansions, which cost hundreds of millions of dollars, villas and penthouses are a tenth of the price, but are still only affordable for wealthy buyers.
Cover photo: Mert Kahveci (Unsplash)