damasturk
02-11-2019, 11:11 PM
Amazing property for sale in Istanbul*
https://c1.staticflickr.com/8/7011/27147792585_c2d832ae08_b.jpg
They are among Istanbul's most iconic sights -- magnificent waterside mansions strung out along the Bosphorus as the waters of the strait dividing Europe and Asia lap almost at their front doors.
Once the preserve of the Ottoman elite and affluent foreigners working in what was Constantinople, the mansions, known as yalis, were made famous in novels and more recently through modern Turkey's hugely successful TV soap operas.
But dozens are now up for sale as Turkey enters a more troubled economic period and owners seek to cash in their luxury assets.
Prospective new owners can expect to pay up to $100 million (87 million euros) for one of the premium properties -- but have the chance of obtaining a Turkish passport thrown in.
With such a hefty asking price -- as well as the opportunity of becoming a Turkish national -- buyers are likely to be foreigners, heralding a drastic shake-up in the mansions' ownership.
real estate Istanbul turkey (https://www.damasturk.com/en/property-for-sale/istanbul) brokers in Istanbul, contacted by AFP, said that out of around 600 waterside yalis along the Bosphorus, 60 were currently up for sale.
The Turkish lira this summer plunged in value as markets reacted to a bitter spat with the United States and many buyers think now is the perfect time to snap up turkey property (https://www.damasturk.com/en/property-for-sale/turkey) assets while the currency is cheap.
"Our potential clients are largely from Middle Eastern countries. We see people from Azerbaijan and Iran but we have a customer portfolio dominated by Qatar," he told AFP.
- '$250,000 not enough' -
Along with the financial incentives, another attraction of buying a property is the possibility of gaining a Turkish passport, which offers eased or visa-free travel to key destinations.
Under a decree issued last month, Turkey made it easier for foreigners to become Turkish citizens by reducing the financial and investment criteria for citizenship.
Yet Ayhan said that, while the latest measures would ramp up demand for newly-built apartments in Istanbul, a yali was an ultra-luxury asset beyond the range of most buyers.
"It is not possible to buy a luxury apartment, let alone a yali with $250,000," he said.
Turkish soap operas, often with dozens of episodes lasting two hours each, hold the Arab world in thrall and have also tempted potential buyers from the Middle East.
Many of the soaps, which range from modern romances to historic dramas, have evocative settings in waterside mansions on the Bosphorus. Tour companies in Istanbul even offer Arab tourists bus trips to the locations.
https://c1.staticflickr.com/8/7011/27147792585_c2d832ae08_b.jpg
They are among Istanbul's most iconic sights -- magnificent waterside mansions strung out along the Bosphorus as the waters of the strait dividing Europe and Asia lap almost at their front doors.
Once the preserve of the Ottoman elite and affluent foreigners working in what was Constantinople, the mansions, known as yalis, were made famous in novels and more recently through modern Turkey's hugely successful TV soap operas.
But dozens are now up for sale as Turkey enters a more troubled economic period and owners seek to cash in their luxury assets.
Prospective new owners can expect to pay up to $100 million (87 million euros) for one of the premium properties -- but have the chance of obtaining a Turkish passport thrown in.
With such a hefty asking price -- as well as the opportunity of becoming a Turkish national -- buyers are likely to be foreigners, heralding a drastic shake-up in the mansions' ownership.
real estate Istanbul turkey (https://www.damasturk.com/en/property-for-sale/istanbul) brokers in Istanbul, contacted by AFP, said that out of around 600 waterside yalis along the Bosphorus, 60 were currently up for sale.
The Turkish lira this summer plunged in value as markets reacted to a bitter spat with the United States and many buyers think now is the perfect time to snap up turkey property (https://www.damasturk.com/en/property-for-sale/turkey) assets while the currency is cheap.
"Our potential clients are largely from Middle Eastern countries. We see people from Azerbaijan and Iran but we have a customer portfolio dominated by Qatar," he told AFP.
- '$250,000 not enough' -
Along with the financial incentives, another attraction of buying a property is the possibility of gaining a Turkish passport, which offers eased or visa-free travel to key destinations.
Under a decree issued last month, Turkey made it easier for foreigners to become Turkish citizens by reducing the financial and investment criteria for citizenship.
Yet Ayhan said that, while the latest measures would ramp up demand for newly-built apartments in Istanbul, a yali was an ultra-luxury asset beyond the range of most buyers.
"It is not possible to buy a luxury apartment, let alone a yali with $250,000," he said.
Turkish soap operas, often with dozens of episodes lasting two hours each, hold the Arab world in thrall and have also tempted potential buyers from the Middle East.
Many of the soaps, which range from modern romances to historic dramas, have evocative settings in waterside mansions on the Bosphorus. Tour companies in Istanbul even offer Arab tourists bus trips to the locations.