The renovated 90 m² apartment in the Nişantaşı‑adjacent neighborhood of Şişli offers a 5.5 % gross rental yield at a price of 950 000 TRY (≈ 140 000 USD). The unit includes a 10 m² terrace, high ceilings, a mezzanine level, and is fully furnished.
Property details
- Size: 90 m² living area + 10 m² terrace
- Layout: Open‑plan living/kitchen, large bedroom (≈ 25–30 m²) with optional walk‑in closet, mezzanine that can serve as a guest room or home office, modern bathroom, and a rooftop terrace.
- Construction: Recently renovated; high ceilings and contemporary finishes.
- Furniture: Included in the sale price.
- Utilities: Natural gas connection pending; will be activated before tenant move‑in.
Rental income and yield
- Tenant: American employee of an NGO, moving in at the end of the week.
- Monthly rent: 4 500 TRY.
- Gross yield: 5.5 % (4 500 TRY × 12 ÷ 950 000 TRY).
- Occupancy: Tenant secured before construction completion, minimizing vacancy risk.
Neighborhood characteristics
- Location: Central European side of Istanbul, near historic textile workshops and shops.
- Daytime activity: Commercial textile businesses create moderate daytime foot traffic.
- Nighttime environment: Quiet; bars and restaurants are a short walk away, but the immediate street remains low‑noise.
- Accessibility: Close to CBD high‑rises, city views include the Hilton Beaumonte; public transport and amenities within walking distance.
Buyer‑agent model
- The agency acts both as a buyer’s agent—conducting detailed client briefs, extensive phone outreach, and due‑diligence—and as a seller of its own limited inventory.
- Properties are offered to clients when the agency believes the price is attractive relative to the local market.
- In this case, the agency could have retained the unit for an additional ≈ 100 000 TRY on the secondary market but chose to sell to a client seeking immediate rental income.
Client demographics
- Buyers originate from a wide range of regions: Kazakhstan, Uzbekistan, Iran, the broader Middle East, Europe (including a growing number of Europeans returning to Istanbul), the United States, China, and occasional Irish investors.
Market comparison
| Metric | This property | Typical new‑development units (suburban) |
|---|---|---|
| Price per m² (USD) | ≈ 1 560 USD | ≈ 2 000 USD (often > 2 000 USD) |
| Gross yield | 5.5 % | 2 %–2.5 % |
| Location | Central Istanbul (≈ 15 million residents) | Suburban areas, ≈ 1 hour from city centre |
| Currency risk | Priced in TRY, rent in TRY | Often priced in USD, rent in local currency |
Developments marketed for rapid citizenship or residency often command prices above 2 000 USD/m² and deliver yields of 2 %–2.5 %, whereas this centrally located, fully renovated unit provides a higher yield at a lower price per square metre.
Investment considerations
- Yield vs. price: The 5.5 % yield is attractive relative to comparable Istanbul assets, especially given the central location.
- Currency exposure: Rental income and purchase price are in Turkish lira; investors should assess exchange‑rate risk.
- Tenant quality: An NGO employee may offer stable, long‑term tenancy, but verification of employment and lease terms is advisable.
- Liquidity: Central Istanbul properties tend to retain value better than peripheral developments, but market conditions can affect resale timing.
- Operational costs: Factor in utilities, property management, and potential maintenance of high‑ceiling interiors.
Overall, the apartment demonstrates how a modestly priced, centrally located renovation can deliver yields significantly above those of newer suburban projects, making it a compelling option for investors seeking cash‑flow and exposure to Istanbul’s large, historic market.
