Is buying a property in Sariyer a good investment?

Last updated on December 29, 2023

Yes, the analysis of Istanbul's property market is included in our pack

If you've explored the coastal beauty and local culture of Sariyer, you might have contemplated making it your next destination for a property investment in Istanbul.

Is it a good idea though? What's the current state of the real estate market in that area? Are property values appreciating or depreciating? Are investors seeing returns on their real estate investments? How's the demand for rentals?

We'll answer all these questions for you! When building and updating our property pack for Turkey, our team has been researching and surveying this area. In fact, there is significant customer interest in investing there. Therefore, we believe it would be beneficial to include some information about it in our property pack.

Why do property buyers like investing in Sariyer?

Sariyer, nestled in the northern part of Istanbul, has gradually become a magnet for property buyers, offering a unique blend of attributes that set it apart from other real estate markets.

It's interesting to see how Sariyer, once a tranquil fishing village, has evolved into a sought-after location for real estate. This transformation really gained momentum in the last two decades, particularly with the rise of Istanbul as a global city.

What makes Sariyer stand out is its remarkable blend of natural beauty and urban convenience. Unlike the more densely populated areas of Istanbul, Sariyer boasts lush greenery, forests, and the stunning coastline along the Bosphorus.

This scenic beauty, combined with its relatively less congested environment, makes it a refreshing change from the hustle and bustle of central Istanbul. For property buyers, this means enjoying the best of both worlds; the tranquility of a natural setting and the amenities of city life.

Another factor contributing to Sariyer's popularity is its exclusivity. The district is known for its luxurious villas and mansions, many of which have historical significance and offer breathtaking views of the Bosphorus. This exclusivity has made Sariyer particularly attractive to affluent buyers and investors who seek both luxury and privacy.

However, it's not just the wealthy who are drawn to Sariyer. The district has a variety of properties, including modern apartments and smaller houses, catering to a diverse range of buyers.

Its appeal extends to families looking for a peaceful environment, professionals who appreciate its proximity to key business districts, and even expatriates and retirees seeking a serene lifestyle.

While Sariyer's appeal seems enduring, it's important to consider some potential drawbacks. The area can be quite expensive, making it less accessible for budget-conscious buyers.

Additionally, while its location is scenic and relatively serene, it's farther from Istanbul's city center, which could be a downside for those who prioritize central location over tranquility.

Furthermore, the district might not offer the same level of vibrant nightlife or cultural activities as found in more central areas of Istanbul.

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Why is Sariyer a nice place to live?

Living in Sariyer, offers a unique experience that combines the allure of natural beauty with urban conveniences.

This area is known for its picturesque Bosphorus views, lush forests, and a relatively tranquil atmosphere, which is quite a contrast to the hustle and bustle of central Istanbul.

The lifestyle in Sariyer is often described as laid-back yet sophisticated. The presence of numerous waterfront parks and cafes along the Bosphorus provides residents with ample opportunities to relax and enjoy the scenic beauty. This environment fosters a lifestyle that is both leisurely and culturally rich.

The area is known for its historic mansions and fish restaurants, adding a unique cultural dimension to daily life.

Sariyer is also home to a growing expatriate community. Expats are drawn to this area for its serene environment, beautiful scenery, and its relatively upscale, secure atmosphere.

The presence of international schools like the British International School Istanbul and the Tarabya British Schools caters well to the needs of expatriate families, ensuring a smooth transition into the local culture and educational system.

Cost of living in Sariyer can be on the higher side, especially when it comes to real estate. The district is known for its luxurious properties and high-end living, which means renting or buying a home here can be quite expensive compared to other parts of Istanbul.

However, daily living expenses such as food, transportation, and utilities are relatively comparable to other urban areas of the city.

Safety is a key consideration for anyone looking to settle in a new place, and Sariyer ranks well in this aspect. It is generally considered a safe and secure district, with lower crime rates compared to the more densely populated areas of Istanbul. This sense of security is a significant factor for families and individuals considering a move to Sariyer.

When it comes to amenities and facilities, Sariyer is well-equipped. The district boasts several well-regarded hospitals and medical centers, such as Acıbadem Maslak Hospital and Liv Hospital Ulus.

For shopping and leisure, residents have access to various shopping centers, including Istinye Park, one of Istanbul's most upscale shopping malls, offering a wide range of international and local brands.

The quality of infrastructure in Sariyer is generally good, with well-maintained roads, reliable utilities, and robust internet connectivity. This makes day-to-day living comfortable and convenient, whether you're working from home or commuting.

Speaking of commuting, accessibility is a crucial factor in urban living. Sariyer is relatively well-connected to other parts of Istanbul. The district can be accessed by road via the O-1 and O-2 highways, and it's serviced by various public transportation options, including buses and minibuses.

However, it's worth noting that Sariyer is not directly served by the metro network, which might be a consideration for those who rely heavily on public transportation.

How much does it cost to buy real estate in Sariyer?

If you need a detailed and updated analysis of the prices, rents and yields, you can get our full guide about real estate investment in Turkey.

Buying a property in Sariyer can vary significantly in cost depending on the type of property and its specific location within the district.

Sariyer offers a range of residential properties, including apartments, houses, and luxury villas. These properties cater to a diverse array of preferences and budgets, making Sariyer a versatile real estate market.

In Sariyer, luxury villas, especially those with views of the Bosphorus or in prestigious neighborhoods like Tarabya, Yeniköy, and Zekeriyaköy, are highly sought after. These areas are renowned for their opulent homes and serene environment, making them particularly appealing to affluent buyers.

Apartments, including both modern complexes and older, more traditional buildings, are also popular, especially for those seeking a balance between luxury and practicality.

The demand for properties in Sariyer is driven by its unique blend of natural beauty, proximity to the Bosphorus, and relatively peaceful atmosphere compared to the more densely populated areas of Istanbul. This demand is reflected in the price range for properties in the area. Prices per square meter can vary widely.

For instance, luxurious Bosphorus-front villas can command extremely high prices, while apartments in less exclusive parts of Sariyer can be more affordable. The price also depends on factors like the age of the property, its condition, and the amenities offered.

Over recent years, property values in Sariyer have seen a significant shift. With Istanbul's growing prominence as a global city and the increased interest in properties offering a blend of urban convenience and natural beauty, Sariyer has become more attractive to investors and homebuyers.

This increased interest has generally led to a rise in property values, although the rate of this increase can vary depending on the specific area within Sariyer.

Looking at the development landscape, Sariyer has a mix of new developments and resale properties. New developments, particularly modern apartment complexes with amenities like swimming pools, gyms, and security, are becoming increasingly popular.

These developments often appeal to families and professionals looking for contemporary living spaces. On the other hand, the market also includes older, established properties, especially in areas with historical significance.

Future developments and city planning changes could potentially impact property values in Sariyer. For instance, any enhancements in transportation infrastructure or the addition of new social amenities like parks, schools, or shopping centers can make the area more attractive and drive up property values.

Predictions for the real estate market in Sariyer in the coming years are generally positive. Given the district's continuous appeal due to its unique location, ongoing development, and its status as a prestigious and desirable place to live, property values are likely to continue their upward trend.

Factors like the development of new infrastructure, the steady demand for luxury properties, and the overall growth of Istanbul as an economic and cultural hub indicate a potential increase in value for properties in Sariyer.

Where is the best area to buy a property in Sariyer?

Choosing the best area to buy a property in Sariyer, largely depends on what you're looking for in terms of atmosphere, property types, and budget.

Sariyer's diverse neighborhoods offer a range of options, each with its unique characteristics.

If you're drawn to luxury and exclusivity, areas like Tarabya, Yeniköy, and Zekeriyaköy are top choices. Tarabya and Yeniköy, with their stunning Bosphorus views and historic mansions, offer an upscale living experience.

These areas are known for their luxurious villas and the serene environment they offer, making them ideal for those seeking tranquility and opulence.

However, the price tags in these areas reflect their exclusivity and desirability, with some of the highest property prices in Istanbul.

Zekeriyaköy, on the other hand, is a bit more secluded and is known for its modern villas and gated communities. It's particularly popular among families and expats who value privacy and a sense of community. The area offers a more suburban feel, with green spaces and a quieter atmosphere compared to the bustling city center.

For those interested in up-and-coming areas, places like Kilyos and Uskumruköy are gaining attention. These areas are known for their newer developments and more affordable prices compared to the ultra-luxurious parts of Sariyer.

Kilyos, with its beautiful beaches, is becoming increasingly popular for both residential and holiday homes. Uskumruköy, with its mix of modern apartments and villas, offers a balance between urban and natural lifestyles.

However, certain areas in Sariyer might not be as advisable for property investment. Neighborhoods that are further away from the Bosphorus or the central parts of Istanbul, like some parts of Bahçeköy, might not offer the same level of amenities or ease of access as more centrally located areas.

While these areas might be more affordable, they might not see the same rate of appreciation in property values or offer the same lifestyle appeal as areas closer to the waterfront or city center.

Here is a summary table to help you visualize better. If you need more detailed data and information, please check our property pack for Turkey.

Area	Atmosphere	Property Types	Price Range	Notable Features
Tarabya	Upscale, Tranquil	Luxury Villas, Historic Mansions	High	Bosphorus views, Serene environment
Yeniköy	Exclusive, Peaceful	Luxurious Villas, Historic Properties	Very High	Stunning Bosphorus views, Historic significance
Zekeriyaköy	Suburban, Community-Oriented	Modern Villas, Gated Communities	Moderate to High	Family-friendly, Privacy, Green spaces
Kilyos	Natural, Emerging	Residential & Holiday Homes	Moderate	Beach proximity, Natural beauty
Uskumruköy	Balanced, Growing	Modern Apartments, Villas	Moderate	Newer developments, Affordable options
Bahçeköy	Remote, Less developed	Varied	Lower	Less amenities, Farther from city center

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Is there a strong rental demand in Sariyer?

In Sariyer, there's indeed a strong demand for rental properties, characterized by a mix of both short-term and long-term rentals.

This demand is shaped by the district's unique appeal, offering a blend of natural beauty, luxury living, and proximity to key areas of Istanbul.

Short-term rentals in Sariyer are particularly popular among tourists and visitors who seek a more upscale, serene experience away from the hustle of central Istanbul. Areas like Tarabya and Yeniköy, known for their stunning Bosphorus views and luxurious properties, attract short-term renters looking for high-end living experiences.

These renters are often affluent travelers, business people, or families on vacation who prioritize comfort, exclusivity, and scenic beauty.

On the other hand, long-term rentals cater to a different demographic. These are typically professionals, expatriates, and families who value Sariyer's tranquil environment, its quality of life, and its reputable international schools like the British International School Istanbul.

Long-term renters often seek modern apartments or villas in areas like Zekeriyaköy and Bahçeköy, where they can enjoy a balance of community living and privacy.

The profiles of potential tenants vary. For short-term rentals, high-income tourists and business travelers dominate the scene. They usually look for fully furnished, well-equipped properties that offer luxury and convenience.

Long-term tenants, like expats and families, prioritize properties with multiple bedrooms, modern amenities, and proximity to schools or business centers.

In terms of amenities, features like parking spaces, security services, swimming pools, and proximity to public transport can significantly reduce vacancy rates. These amenities appeal to the convenience and lifestyle preferences of potential renters, making properties more attractive and competitive in the rental market.

Regarding potential returns on investment, properties in Sariyer can offer lucrative opportunities, though this largely depends on the type of property and its location.

For example, luxury properties in Tarabya and Yeniköy, catering to short-term high-income renters, can yield significant returns, especially during peak tourist seasons. Long-term rentals in family-friendly areas like Zekeriyaköy may offer more stable, albeit potentially lower, returns year-round.

Currently, properties that are gaining more demand and could potentially offer better yields are those that cater to specific needs of the renter demographics.

For instance, luxury apartments or villas with Bosphorus views are highly sought after for short-term rentals, while spacious, modern homes in secure communities are preferred for long-term renting by families and expatriates.

These properties not only meet the lifestyle demands of tenants but also offer the potential for value appreciation over time.

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Is it easy to buy a property as foreigner in Sariyer?

Before we answer the question, please know that we have an article dedicated to the experience of buying real estate as a foreigner in Turkey.

Buying property as a foreigner in Sariyer, Istanbul, is relatively straightforward, but there are certain regulations and considerations to keep in mind.

Turkey, including Istanbul and its districts like Sariyer, is generally open to foreign property buyers, but there are some specific rules that apply.

Firstly, foreign buyers must ensure that the property they're interested in is not located in a military zone or a security zone, as purchases in these areas are restricted. This is usually not a concern in Sariyer, but it's always good to check.

Additionally, there are limits on the total amount of land a foreigner can purchase in Turkey, which currently stands at 30 hectares nationwide.

The purchasing process in Sariyer involves several key steps. After selecting a property, a preliminary agreement is usually made and a deposit paid. Then, a property valuation report must be obtained from a licensed valuation company. This is a requirement for all foreign buyers and is used to ensure the property's value matches the declared price.

The next step is to apply for a title deed transfer at the Land Registry Office, where necessary documents including the valuation report and a valid passport are submitted. The process concludes with the payment of fees and taxes, and the issuance of the title deed (Tapu).

Regarding risks, property investment in Sariyer, like any real estate investment, involves certain challenges. Market fluctuations can affect property values, and as a high-end district, Sariyer's real estate market can be particularly sensitive to economic trends.

Additionally, legal complexities, such as disputes over property ownership or zoning issues, can pose risks.

A classic pitfall for foreign buyers in Turkey is not conducting thorough due diligence. This includes ensuring the property has a clean title, verifying the seller's right to sell, and checking for any debts or liens on the property.

Another unique aspect in Turkey is the importance of getting an official property valuation before purchase, as required by law for foreign buyers.

Working with a local real estate agent and, importantly, a lawyer is highly advisable. They can provide valuable insights into the local market, assist with navigating the legal and bureaucratic aspects of the purchase, and help avoid common pitfalls. A local expert can also help with language barriers and cultural nuances in negotiations.

Common exit strategies for property investors in Sariyer include selling the property after a period of appreciation or renting it out for income. The rental market, especially for luxury properties and those with Bosphorus views, can be quite lucrative.

However, investors should be aware of the tax implications and market conditions that could affect their exit strategy.