Renting in this big beautiful City

People who are familiar with the Istanbul real estate scene know that the rents in the city center are pretty high and the market is reasonably dynamic, producing a good yield if the property is purchased at the right price.

Not all of our clients are purchasers of Istanbul property, however.  Many come to us seeking long term rental properties in Istanbul city center, normally because they have been relocated by their company or a new job beckons. Luckily, we have lots of expertise in this area and we do our best to help clients find the best value, whether it be for a budget studio or a glamorous penthouse apartment in a luxurious compound.

High end luxury in a signature development

with a view to die for

It is hard to nail down per sqm prices in the neighborhoods because they really vary greatly from street to street and can also be based on the quality of the building.

In general, however, a furnished 1 bedroom apartment in a decent neighborhood with quality construction, starts from around 1800 TL or approx. 1000 USD and 2 bedroom apartments are on average about 20% more. Naturally, the price jumps up significantly with a sea view.

Great value with a superb terrace

http://www.lilimont-istanbul-realestate.com/rent/ 

Contracts are typically one year. If you plan to stay longer than a year, make sure you are aware of any rental increases prior to signing a contract. If you are not familiar with the language, have somebody along to help you with the contract process who is familiar. Mostly, the contracts are standard, but they should be read and understood prior to signing.

A note on the landlords. Unfortunately, in Turkey, the landlords are quite hands off, except when it comes time to collect the rent! You are assumed to take care of small items that need repair by yourself. Larger issues should be brought to their attention and should be handled by them. In our experience, if you pay the rent on time and keep the place in reasonable condition, the tenant/landlord relationship should be amicable.

Have a look at a few of our stunning rental offers this season…. http://www.lilimont-istanbul-realestate.com/rent/ . If there’s nothing to your fancy on my site then give me your needs, we’ll put the feelers out and I’ll don my detective mac…. our team enjoy a task and a city search.

A few of my favourite things to do in Istanbul

I’m currently out of town in Ankara battling in the squash courts. The competition is fierce and I’ve not been on court enough over the past month but I’ll hopefully come back with a bit of silverware!

Even after many years of living in Istanbul, there are still certain tourist activities that I like to do above all else.

First of all, when property clients come and mention they are going to the Blue Mosque or The Spice Bazaar, it’s just not my thing and I can’t get too excited about battling the crowds and hustlers for a peek at the good stuff. But when they mention Bosphorous tour, I quite often down tools and tag on along. A tour of the Bosphorous is simply second to none. With its fast running currents and chaotic network of ferry boats and lovely old yalis (old mansions), framed by the bridges, it is a visual delight. I still go regularly, especially when I need to be reminded how much I love Istanbul and it is a great way to steal an hour or two of contemplation from this demanding city.

Bebek  near Levent is by far the top place to be seen and home to most of the International elite donning their designer clothes, running errands in their Ferrari’s. But there is a good reason for its popularity, it has a beautiful position on the Bosphorous and has in recent years exploded with chic cafes, restaurants, and upscale nightlife. When you’ve had enough of the high life and you want to relax, then the Bebek park is a good place to take a time out.

Bebek waterfront

I am not big on shopping, but when necessary, I try and make a pleasant day of it by hitting the Levent area, which is now home to the world design award-winning Kanyon Shopping Center, Metrocity, Sapphire and much more. Out of these, the Kanyon, which is a partially outdoor mall with superb architecture and a very classy food court (it seems an insult to even call it that).

Kanyon Levent

Finally, right here in Beyoglu, when I need to escape for half an hour, I like to go to the Cihangir Mosque, which was built in 1560 by Sultan Kanuni, for his crippled son Cihangir so he could watch the boats come in many hundreds of years ago. The views from the tranquil cemetery garden are absolutely stunning, and it is an understated, pretty mosque with a well-kept garden.

Cihangar Mosque

A quick property buying tip –

For those new to the Turkish property market. Local Real Estate agents will generally give you the total square meterage of a property in an exaggerated brut (gross) number, with some local property agents not even going that far, and just providing you with the number of rooms. All things change, but some take time. The property market in Turkey is still in its infancy and there are lots of areas where it stands to evolve.

Next week I’ll update you with my current property tasks and I’ll include some more tips.