properties and villas in Istanbul for sale

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properties and villas in Istanbul for sale

The development straddles the region’s hot springs, and each minicastle will have under-floor heating and Jacuzzis on every level, with an option for an indoor pool, the brothers promise.

“The thermal water can be used for drinking and steam therapy; it is first class in the world,” said Mezher Yerdelen. “You can drink the waters, and it cures stomach ailments and kidney stones. If you bathe in it, it heals skin problems, rheumatism and slipped disks.”


Now, the development is almost at a standstill as the partners work their way through bankruptcy court but are still allowed to trade, their futures debated regularly in the news media.

Turkey was feted as the place to invest in the early 2000s, its largest city dubbed “Cool Istanbul: Europe’s Hippest City.” Under the business-friendly leadership of Recep Tayyip Erdogan, first as mayor of Istanbul, then prime minister and now president, the economy boomed and Istanbul real estate prices soared.

The country was busy catching up with Europe in many ways. The government introduced mortgages in 2001 and reformed conditions for foreign buyers to increase investment in the sector. Rich Arabs and Russians joined European customers lining up to buy summer villas on the Aegean coast and luxury apartments for sale in Istanbul*and waterside palaces in Istanbul.