Increasing foreign demand for palaces in the Bosphorus Strait

Increasing foreign demand for palaces in the Bosphorus Strait

The historical palaces and luxury villas that have a great geographical location on the Bosphorus have witnessed a great demand from foreign businessmen in recent years, and have begun to attract the minds of investors to buy villas in Istanbul.

Increasing demand for mansions and villas overlooking the Bosphorus

The Bosphorus area occupies the position of the beating heart of the city of the two continents, as it sparkles with a charming marine nature, which smells of the ancient history of successive civilizations, which passed through this glorious city.

In the Bosphorus region and on the Asian and European banks, there are many historical palaces and archaeological sea villas, which, with their solid architecture, distinctive sea views, combined with the history of Istanbul and present considerable investment value in the real estate market.

Hundreds of sea palaces adorn the banks of the Bosphorus

The number of sea palaces located on the Asian and European banks of the Bosphorus is approximately 660, of which 366 are historical palaces of the first and second classes.

With regard to the arrangement of the areas with the most number of palaces in Istanbul, the Sariyer region ranked first among the Bosphorus regions that contain the most naval palaces, as there are 136 sea palaces in this region, followed by the Beykoz region, which contains 109 sea palaces.

Uskudar ranked third with 84 sea palaces, while the Besiktas region came in fourth place, which includes 37 palaces.

As for the prices of palaces and villas in Istanbul, they vary according to the area in which they are located. The palaces closest to the Bosphorus and Sultan Mehmet Fatih bridges are the highest value among these palaces.

Beykoz is the quietest

The Beykoz area, close to the Bosphorus shore, is one of the most important areas in that ancient spot, as it enjoys fresh air in the heart of the city center of the two continents, and is adorned with charming nature, beautified by the stunning view of the Bosphorus.

In addition, the proximity of the Beykoz district to the main transportation node that connects the city to each other makes it one of the top 10 regions in Turkey in general.

Besides many high-end housing projects in which the beauty of the design blends with the glamour of construction, the Bekoz area has many palaces bordering the Bosphorus, one of the best real estate in Turkey in general and in the Bekoz region in particular, in terms of its investment value.

Beykoz is also the second most area containing palaces and sea villas in Istanbul after Sariyer, in addition to being the quietest area among the areas scattered on both sides of the Bosphorus.

There are 109 palaces in Beykoz, and they can be classified according to the following:

• The historical archaeological palaces fall into the first category, and there are 18 palaces.
• The ancient archaeological palaces fall into the second category, and there are 64 palaces.
• The ancient archaeological palaces, which are of the third category, and include 27 palaces.

These palaces are offered for sale for various reasons, especially since Istanbul has seen at least 10 palaces for sale every year for the past few years.

With regard to the prices of these historical palaces, the price of each palace ranges from 5 million TL to 450 million TL, and the price varies from one palace to another depending on the location of the palace, the number of rooms, and social facilities in the palace and others.

Real estate experts point out that the real estate of the Beykoz area in general has become one of the most important areas that receive increased investment demand, as the rate of increase in the investment value of real estate in this area has reached 12% during the past five years.

A great demand for palaces, especially from foreign investors

Real estate experts point out that the palaces on the Bosphorus shore witnessed a great demand during the past two years, which reached its climax with the spread of the Coronavirus, which led to changing the paths of real estate demand, as the demand went towards independent homes, which enjoy good ventilation and healthy conditions.

In this regard, real estate consultant Everm Karamzy Tas said:

"Due to the desire of some families to move to a quiet house that meets the health conditions, the palaces and sea villas near the Bosphorus have witnessed a significant increase in demand during the recent period."

Tas continued, "The turnout by foreign investors was remarkable, as the real estate market witnessed many requests for these palaces, especially from investors from the United Arab Emirates, Qatar, and Kuwait."

Edited by Imtilak Real Estate©

Reference: Emlak Kulesi

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