Investing in Istanbul

Living in Istanbul What are the costs and which area is better to live

Last edited:Jun 06 , 2023
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Living in Istanbul What are the costs and which area is better to live
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The option of living in Istanbul is one of the choices that many investors are currently taking, especially with the safe environment that the city provides to investors from all over the world, as it is one of the safest environments that can achieve high financial returns when investing in it, especially in the field of real estate, It is also equipped with a distinguished infrastructure, so it is also suitable for those who want to live in Istanbul and settle down, so in our article we will talk about living in Istanbul, what are the costs, and which area is better to live in.

 

General information that interests you before living in Istanbul

Istanbul is a distinguished city in Turkey, as it connects the two continents of Asia and Africa, and has more than 15 million people, or nearly a third of Turkey's population. Tourists and investors from around the world.

Istanbul has the elements of advanced life, and this has encouraged many to live and settle in Istanbul, at a time when the Turkish society is characterized by the proximity of its customs and traditions to the Arab environment, and this has motivated many Arab investors to invest in and live in the city, in the presence of distinguished housing options in the city within the new projects that are being established, in addition to the low cost of living, as the average cost of living in Istanbul in 2022 amounted to about $ 400 per person per month as the costs of life in Istanbul vary from person to person.

Pros of living in Istanbul

There have always been many advantages and positives that encourage living in Istanbul, and the following are an important group of them:

  • The essentials of distinguished life, whether in terms of infrastructure or development and modernity in various sectors.
  • There are distinguished housing options between luxury apartments and luxury villas at reasonable prices compared to the prices in the region.
  • The city contains various international schools and universities that offer the best education.
  • Prices in Istanbul are cheap compared to prices in other neighbouring countries, especially European countries.
  • The charming nature that is characterized by its great diversity.

Cons of living in Istanbul that you should pay attention to

Despite the many positives of living in Istanbul, there are some disadvantages, the most important of which is the language, as the Turkish society prefers to communicate with it through its language, and the recent resident in Istanbul may find some difficulties in communicating, but it is possible to overcome this point by starting to learn the Turkish language to achieve the conditions of communication, which means starting to integrate into public life in a natural and distinctive way.

Choose the type of accommodation that suits you to live in Istanbul

Those wishing to reside in Istanbul must choose the accommodation that suits them, and the following can be found on the most important accommodations that can be obtained in Istanbul:

  • Tourist residence: It is a residence that is issued for a period of one or two years according to what has been submitted, and it is the best way for those wishing to stay in Turkey for a longer period than that permitted by their visas, and it is often relied upon by investors who do not reside in Turkey but are always on the move. between it and other countries.
  • Real estate residence: This residence is granted to people who own real estate in Turkey, and this residence is included under the list of short-term residences, and it is also possible to obtain real estate residence by purchasing an apartment, house, villa, or any of the real estate whose value matches the value determined by Turkey To obtain real estate residency.
  • Permanent residency: This type of residency is for people who have resided in Turkey for eight years legally, at which time they have the right to apply for it, and then the required documents are submitted to the Directorate of Migration Management in Turkey.
  • Obtaining Turkish citizenship and residing in Istanbul

Investment has become the best way to obtain Turkish citizenship, which makes people able to live and reside in Turkey, especially the city of Istanbul, which is known for its economic strength and the beauty of its nature. Turkish citizenship can be obtained by purchasing a property worth $400,000 or more, or by placing half a million Dollars in a Turkish bank for three years, or the employment of more than 50 Turkish citizens in your company, and buying real estate is the preferred option for many to obtain citizenship, whether for investment or living in Istanbul.

Average rent prices in Istanbul

The real estate market in Istanbul witnessed a great demand, whether from Turkish citizens or tourists and residents, and this was reflected in the sales figures, and this demand led to a significant increase in real estate prices in all of Turkey, not only Istanbul, whether prices for rent or purchase, and Istanbul ranked The second is in terms of high real estate prices, as the price per square meter reached 13.538 Turkish liras, while the average price of apartments reached more than one and a half million Turkish liras.

These rises were reflected in the rental prices in Istanbul. The rent of apartments in residential complexes reached unusually high rates, while in residential neighborhoods, the rent of a 2 + 1 apartment reached about five thousand liras per month, in addition to the monthly expenses represented in bills and returns. And, the cost of life, this rise in rent prices has been accompanied by an increase in the minimum wage in Turkey, to correspond to the state of inflation that the whole world is going through.

Tuition costs in Istanbul universities

The costs of studying in Istanbul vary depending on the university you want to study in, as private universities, for example, have different costs from public universities supported by the state, but what distinguishes studying in Istanbul is the high quality of education Which has always been a reason for students to study in the city from all over the world, especially in light of the presence of discounts for students in terms of prices and transportation costs in Turkey, in light of the state’s support for them to urge them to study in Turkey, and government facilities have played a prominent role in Attract students and provide a suitable environment for them.

Can Arabs live in Istanbul?

There are many reasons why living in Istanbul is suitable for Arabs, and here are some of these reasons:

  • The great similarity between the environment in Istanbul and the environment in most Arab countries.
  • The customs and traditions are similar because most Turks and Arabs are Muslims.
  • Affordable living prices, which are low compared to some Arab countries.
  • The successful investment environment, which has always been an incentive for Arab investors.

When this question is asked: Is living in Istanbul suitable for families, the answer will be yes for sure. Istanbul is a safe environment and Arab and non-Arab families have always resorted to living in Istanbul and other Turkish cities.

At the conclusion of our article, we have talked about living in Istanbul, and we have identified the costs necessary for living or studying, with our talk about the average prices of apartments, at a time when Right Home Real Estate provides the best residential areas in Istanbul suitable for living in, through a range of opportunities Distinguished investment, and you can contact us to get the best of these opportunities

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