Suburbs Where Buying is Now Cheaper than Renting

In a significant shift, buying property in some Istanbul suburbs is now cheaper than renting, with areas like Sisli and Kadikoy on the Asian side offering better value for buyers.

This trend matters now because Istanbul's property market has been driven by foreign demand, fueled by the citizenship by investment program, which has led to a surge in prices in premium areas like Besiktas and Beyoglu. However, with the average price per square metre at $2,500, some suburbs are becoming more attractive for buyers, particularly those looking for long-term investments. The current economic climate, with rising interest rates and inflation, has also made renting less appealing, as landlords increase rents to keep up with costs.

In Sisli, for example, the bustling streets of Cumhuriyet Caddesi and Halaskargazi Caddesi are lined with shops, restaurants, and cafes, making it an attractive area for buyers. Similarly, Kadikoy's Bagdat Caddesi, with its vibrant nightlife and waterfront views, is becoming a hotspot for investors. Organisations like the Istanbul Chamber of Commerce and the Turkish Association of Real Estate Investment Companies are also promoting these areas as viable alternatives to the more expensive city centre.

Market Trends

According to data from the Turkish Statistical Institute, the average rent in Istanbul increased by 15% in the past year, while property prices rose by 10%. In Sisli, the average price per square metre is around $2,200, while in Kadikoy it's around $2,000. In contrast, the average rent in these areas is around $1,500 per month for a one-bedroom apartment, making buying a more attractive option for those who can afford the initial investment. As of June 2026, the Turkish government has also introduced new incentives for first-time buyers, including a 10% discount on property taxes.

For those considering buying in these suburbs, it's essential to do their research and work with reputable real estate agents, such as those affiliated with the Istanbul Real Estate Agents Association. Buyers should also factor in additional costs, such as maintenance fees and property taxes, when calculating the total cost of ownership. With the right investment, however, buying in these suburbs could provide a lucrative long-term return, as well as a chance to own a piece of Istanbul's vibrant property market.