Reasons of the European side superiority than the Asian side in Real estate

Some investors are wondering about the reasons that most of the projects that are promoted on the European side and not on the Asian side, whether these projects are investment or residential, and some other wonder about the difference in real estate investment between the Asian or European side, In fact, most of the new projects that is often promoted in Istanbul on the European side, but it does not mean there are no residential or investment apartments on the Asian side, on contrary there are dozens of modern projects in different areas for those wishing to live or invest there, but the European side remains has the priority in state projects or even for the private sector, In this article, we will analysis reasons of real estate booming of the European side from the Asian side.

There are big differences between the Asian side and the European side, whether in the space or the form of urban planning for each region, and also in terms of services such as transportation network and other services, and this difference comes as a result of the state's plans that aiming to extend the borders of Istanbul from the European side, and it refers to several reasons, including locally such as to decrease the population in city center or even for tourism.

Why is the Turkish government more interested in its giant development plans on the European side than in the Asian side?

1- The European side is the commercial center of Istanbul since the Byzantine era and even during the Ottoman Empire, the headquarters of trade was in the regions of Maslak and Beyoglu. Today, the most important centers of trade and business are located in the areas of Maslak, Fatih, Beyazit and Basin Exepress.

2- The European side abounds with the most important and famous historical tourist places such as palaces, mosques, castles, churches and monuments belonging to the Byzantine Empire and the Ottoman Empire, and therefore the tourism movement does not stop in the European side, especially since Turkey occupies the sixth place in the world as a touristic destination, and therefore the state puts its priorities the development of the European side so that it remains superior in satisfying for all the tourists.

3- Most of job opportunities in the European side more than on the Asian side, due to the existing of commercial and tourist centers in it, as well as the many industrial areas, most of the headquarters of international companies and investment centers are located there, all these factors made the European side have the strongest transportation network, as there is the metrobus line and the Marmaray train and both of them connect the European side with the Asian part, Also there are about 15 metro and tram lines that serve more than 80% of Istanbul's local residents and foreign residents, as well as buses network.

4- The population of the European side is much larger than that of the Asian side, as the population of Istanbul is about 15.85 million, 11 million people concentrated on the European side, and the rest at the Asian side, also the number of universities and shopping centers (malls), night life is more active on the European side compared to the Asian side.

5- There are many sea ports, ministries and sovereign institutions in the European side, as Istanbul includes the commercial Amberli port in Beylikdüzü, and the port of Istanbul in Yani Kapi, and on the Asian side there is the commercial port of Haydarpaşa, besides most of the embassies and consulates are located in the European side in Bebek, Besiktas, Sisli and Beyoğlu.

All these reasons giving the European side the lion’s share in the state’s development projects, and perhaps the most important of these projects in the past years is the construction of Istanbul’s third airport and also the Medical City Sham and Sakouri hospital, the city includes 8 hospitals to treat 35,000 patients per day, and this does not mean the state's neglect of the Asian side, as the state is currently working on the establishment of the financial city in the urban area on the Asian side.

All these reasons that were reflected in the real estate market, which gained a big share of the state’s development projects, as behind each project there is an upcoming area that the state wants to habilitate by people. This is why we find areas such as Başakşehir, Kayaşehir, Bahçeşehir and Beylikdüzü, among the areas that witnessed the largest number of residential and investment projects from construction companies. Recently Istanbul alone managed to attract 40% of the real estate sales to foreigners in the last five years, as 61,000 properties were sold to foreigners during the period between 2015 and 2020.

Therefore, the value of real estate in these areas increased by more than 100%, especially after the Turkish government announced in 2018 the digging of the new Istanbul Canal, which it calls the “New Bosphorus.” The ambitious project that the state wants to transfer the old city center to the areas of Kucukcekmece, Basaksehir and other surrounding areas.

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What distinguishes the Asian side from the European side?

The Asian side is characterized by its quiet nature, being far from noise and pollution. It is also characterized by the spread of planted gardens, green spaces and parks compared to the buildings; Which makes life very healthy, also the population density in the Asian side is much less than the European and also less crowded and polluted, In addition to the plenty of various real estate offers with reasonable and affordable prices for all types of clients, there are huge luxury projects and also housing projects suitable for the middle class, especially since real estate prices on the Asian side are less than the prices of the European side, but in the same time areas like Kadikoy and Uskudar. Umraniye and Beykoz are very expensive areas.

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Where should I buy a property on the European side or on the Asian side?

The answer to this question is depending to the main goal behind buying a property in Istanbul. If you want to buy a property for investing, or establishing a company, or opening a shop such as a café or restaurant that will generate increased income for you, then the European side is the best option for you, to ensure a quick turnover of capital or by buying a hotel apartment or an apartment with the aim of renting it out to tourists whom coming to Istanbul to make a profit for its owner, especially in the Maslak Sariyer, Sisli and Basin Express areas.

But if you want to buy a property for the purpose of housing, the selection of the area of residence will be depending to your workplace or where your children study, because it is always preferable that your housing place be near your workplace or your children’s schools and universities. If your workplace is on the European side, it is better for you to buy your apartment is on the European side. If you are free and don’t have work, study, or any interests that connect you to the European side, it is best for you to buy your apartment in the Asian side.

So, if you are looking for real estate to live in quiet and comfortable areas, you should choose Asian side.

If you are looking for real estate with a rising investment value, you should choose the new areas such as Esenyurt, Başakşehir, Bahçeşehir and Beylikdüzü.

If you are looking for real estate in the heart of money and business, European Istanbul is the perfect choice for you, especially in the Maslak Sariyer, Sisli and Basin Express areas.

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At Ramzy Real Estate Company, we are glad to accompany you on the journey of buying property in Turkey and to provide you with a range of services to make the process smooth and easy , as we are always keen to present a variety of options for residential and investment properties in addition to helping you obtain Turkish citizenship for those looking for it.
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Editing by Ramzy Real Estate Team ©

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