Two districts on Istanbul’s European side, namely Bahcesehir and Belikduzu, have become hot spots for Gulf investors purchasing second homes in 2014, said Turkish property specialist Spot Blue International Property in October.
Julian Walker, director at Spot Blue International Property, commented: “A large proportion of our clients today are from Saudi Arabia, the United Arab Emirates and Kuwait, and most want a convenient, modern apartment in an up-and-coming suburb of the city, which they treat as a lifestyle or rental investment. For a variety of reasons, Bahcesehir and Belikduzu are especially popular, not least because they’ve become fashionable hubs for more affluent Turkish people.”
Here are six reasons that make Bahcesehir and Belikduzu attractive to Middle Eastern investors.
- Belikduzu and Bahcesehir are the focus of much of the construction wave that is sweeping Istanbul. They offer a good selection of off-plan and newly built quality apartments, within gated complexes and with communal facilities, priced between $100,000 and $200,000, all of which suits the requirements and budget of typical Gulf investors.
- Shoppers are spoilt for choice in both districts but especially in Belikduzu, said to have the most number of shopping malls of all districts in Istanbul. Malls there include Marka City, Surmen Center, Beylicium Shopping Centre and the Migros Shopping Centre. Bahcesehir has the Akbati shopping centre, Akkoza mall and Prestige mall.
- Bahcesehir means ‘Garden City’ in Turkish, thanks to its extensive green spaces and natural features. The entire district has been designed around one of the largest man-made lakes in Turkey, as well as parkland that offers a selection of outdoor leisure facilities, including horse-riding and golf. It also has a waterpark, the Aqua Dolphin Park.
- Both districts have healthy sources of demand for rentals, including university campuses. Belikduzu is also home to the Kolan and Medicana hospitals, where a significant number of staff require accommodation close to their place of work, while Turkey’s largest exhibition centre, the Tuyap Exhibition Centre, is also there, attracting thousands of delegates and visitors each year.
- Belikduzu and Bahcesehir both have excellent transport connections, by bus, train and motorway, with the Istanbul’s cultural and business districts, as well as the main Istanbul airport (Ataturk International Airport), making transfers from the Middle East easy. Having a waterfront, means Belikduzu also offers a water taxi service.
- Future transport infrastructure upgrades in Istanbul will directly benefit both districts. These include the construction of a third bridge over the Bosphorus - for both road and rail, the proposed Istanbul Canal connecting the Black Sea to the Sea of Marmara and Istanbul’s third airport, set to be the world’s largest once complete.