There is high demand for mansions along the Bosphorus.
With its thousands of years of history, Istanbul holds a special place that would make many cities around the world envious, and its historical and natural beauties make it world-renowned. The mansions (yalı) are among the most valuable elements that make Istanbul unique and add value to the city, captivating those who see them. Located along the Bosphorus, where there are a total of 660 mansions, 366 of which are historical monuments, the value of these mansions is not measured by their price per square meter.
There is a surge in the sale of mansions along the Bosphorus in Istanbul. In the last 1.5 years, 20 mansions have changed hands. Approximately 200 mansions are awaiting new owners. Fluctuations in exchange rates and the mandatory conversion of purchases to Turkish Lira have led to increased activity in mansion sales. Between March and June 2020, demand for mansions for sale was ten times higher than in the same period of the previous year. As of May 2021, demand increased fourfold compared to April. The total number of mansion sales between 2014 and 2020 has been reached in just the last 1.5 years, with nearly 20 mansions changing hands during this period. Sales were more prevalent in the Anadolu Hisarı, Kandilli, Kanlıca, and Yeniköy areas. During the pandemic, demand from domestic buyers for mansions with gardens and apartments on the Anatolian side increased significantly. All recent purchases were made by domestic buyers.
Nearly 200 mansions are still for sale, and those selling them are signing confidentiality agreements to prevent their properties from being publicized as being for sale.
Here are the prices of some of the mansions recently sold on the Bosphorus:
Mathematician İzzet Bey Mansion – $17 million
Esra Umur Mansion – $10 million
Üstünel Mansion – $18 million
Sadikoglu Mansion – $35 million
The Harem Section of Kıbrıslı Mansion – $19 million
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