Natalie To know where rich people live in Turkey is to glance into affluent neighbourhoods of the upper elite. Even though, Turkey has a reputation as the ideal destination for budget holidays and living, this country has its fair share of wealthy people and billionaires.
With more than enough Turkish lira to buy a house ten times over, these Turks flock to wealthy neighbourhoods for time-honoured luxury living, the Turkish way. Buying exclusive villas, many also have summer holiday homes in luxury coastal resorts on the southern and western coasts. Let’s look at the top destinations to follow in the footsteps of rich Turkish people.
Where Rich People Live in Turkey
1: Prestigious Neighbourhoods in Istanbul – The Largest City
The first misconception is that rich Turks base themselves in Ankara, the capital. While this might be true of anyone based in politics, many wealthy people live in Istanbul instead. There are many opportunities to spend their cash because the city is home to Turkey’s most expensive property market, and two districts stand out.
Sariyer: Let’s start in the district of Sariyer, home to the most heavily priced real estate per square meter. Sitting on the European side of Istanbul and flanking the Bosphorus shorelines, this prestigious neighbourhood is compared to the Hamptons in the USA. To understand real estate prices here, consider upmarket waterfront properties with panoramic views. The district is also home to Belgrad forest, an impeccable and much-needed green space in Istanbul.
There is much outstanding property, but part of the fame to claim comes from the large Yali mansions that date from Ottoman times. These even fetch seven digits and are legally protected, so owners need permission for modernisation. However, the status isn’t something new; but a trend that dates back centuries. Upmarket neighbourhoods within the Sariyer district, including Tarabya, Yenikoy and Istinye. If you are in the Sariyer area, stop by their famous seafood restaurants.
Besiktas: The average property price in Besiktas is more than the Middle class can afford, but this is a high-profile neighbourhood for real estate investments. Also sitting on the European side of the Bosphorus, this popular destination earns fame for Ottoman landmarks, like Dolmabahce Palace, former residence of the Ottoman sultans, and Yıldız Palace, which was an summer imperial residence.
One famous neighbourhood, Ortaköy earns picture postcard fame for the iconic mosque (Ortaköy Mosque) and picturesque Bosphorus setting. At the same time, Arnavutköy’s historic neighbourhood boasts of beautiful wooden Ottoman houses, and seafood restaurants. Levent and Etiler are upscale residential and business areas, with modern skyscrapers, luxury shopping malls, and elite schools.
2: Sandy Beaches on the Bodrum Peninsula
Meanwhile, wealthy people head to the Bodrum peninsula on the western Aegean coast for beachfront properties. Home to the ancient city of Halicarnassus, this destination is all about hedonism at its highest point. Think beautiful beaches, beach club jetties, water sports, and clear waters.
Turkish elite has been flocking here since the 1950s. To understand the wealth that sits on every corner, this is where billionaires like Jeff Bozo, the wealthiest person on the planet, and the Saudi royalty family dock their mega yachts into. Three distinct areas draw in wealthy investors for short-term and long-term profitable investments.
Yalikavak: For stunning views, Yalikavak commands respect with luxury residential complexes and gated, seven-figure villas for sale. Thanks to the elevated status of the land, Aegean views are just about everywhere, and Yalikavak has yet to suffer the downsides of a construction boom since this is where high-profile architects like Emre Aralot and Richard Meire have designed homes. This tourist destination is nothing short of amazing, but traces of its roots as a humble fishing village are in the old quarter.
Bodrum Town: As a significant Blue Voyage destination, the town is the beating heart of the peninsula and where the trend for wealthy socialites to flock began. The marina sits near the major tourist attraction of Bodrum Castle. But besides that, there is little to do apart from indulging in time-honoured leisure, shopping, and dining experiences.
Golturkbuku: Meanwhile, real estate prices in Golturkbuku also fetch seven figures. This resort maintains a more discreet, exclusive identity than the above two, boosting the outstanding property market to another level. Owners have instant access to the beach jetties that serve breakfast and brunch and, by night, turn into party venues, which are very much a case of who you know, not what you know.
3: Mediterranean Kalkan
Now, we head to the Mediterranean coast for summer holiday home destinations, specifically hilly Kalkan. Likewise, average property prices are hefty, but for that, buy a luxury villa with an infinity pool, incredible views and all modern cons. Most villas here take advantage of the hilly landscape, and should you tire of your infinity pool, head down to the luxury beach clubs. Most owners are Turkish, yet Kalkan also attracts many foreigners buying luxury holiday homes.
4: Yachting Gocek
If you have yet to notice, there is a trend here, with rich Turks and yachting. The reason is the Turkish Riviera, equivalent to France’s version. Gocek is another destination with a low-key presence, but impeccable homes. One residential complex of villas allows owners to get straight into their yacht and sail out to the Mediterranean. The significant aspect of Gocek is that there is a limit on building heights; hence, buildings cover up to three stories. This helps Gocek to maintain its elite status and high price on the property market.
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