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Investment in commercial offices in Istanbul 2021

Istanbul is, in addition to being the economic cornerstone of Turkey, the greatest logistical gateway and commercial, financial, tourism and investment center connecting the continents owing to its strategic position as the bridge connecting Europe and Asia as well as the huge projects situated on both sides. This turned the city into an attraction hub for major regional and international companies, entrepreneurs, and worldwide economic investments.

Styles and classifications of commercial offices in istanbul:

1- Commercial offices styles:

In Istanbul, office searchers encounter a variety of patterns, yet, the ideal office for them is determined by their type of activity, purchasing power, and investment target group. These patterns can be summarized as follows:

  • Normal offices:

    They are traditional offices with a variety of types and objects based on location, style, quality, services, and other factors.
  • Prefabricated offices:

    These are ready-to-work offices that do not require any further effort or expenditure to equip and lease.
  • Joint offices:

    Although the workplaces are shared here, each business owner has his or her own address.   This sort of workplace is typically favored by self-employed individuals who do not require huge workspaces for their job.
  • Virtual offices:

    There is no private office here, and the main objective is to get an official address for individuals who want to start a business without having to rent a space.

2- Commercial offices classifications:

Bureaux are categorized by their age, location, transportation facility, building quality, design, and services as the following:

  • Class A+ offices:

    They are the most prominent and profitable, and they are situated in the central office zone. They are distinguished by their close accessibility to public transportation and social amenities, and they are less than 10 years old. They feature fantastic interior and exterior design concepts, smart building systems, and special social amenities such as eating spaces, conference rooms, gyms, barbershops, cafes, garages, and security 24 hours a day. They also adhere to occupational safety regulations and offer green spaces. They usually belong to one owner. Their rental costs are 15% more than the average rent in the area. They are usually rented by internationally known companies.
  • Class A offices:

    With the exception of a few social facilities, Class A offices have the same attributes as Class A+ offices. The maximum age restriction for this group is 15 years. The majority of these offices are owned by a number of different persons. This category has a higher rental cost than the average in the region, and they are commonly rented by well-known worldwide and local firms.
  • Class -A offices:

    They are not only located in the central business zone, but are also dispersed across all Istanbul office sites, with an upper age limit of 25 years. They lack a green building system and are frequently preferred by both domestic and foreign enterprises. Their rental rates are higher than the average rental rates in the nearby offices.

  • Class B and C offices:

    They are the most common and demanding, and they do not have an age restriction. They are not as well equipped as the preceding groups in terms of methods and technical equipment.

The most prominent areas for investment of commercial offices in Istanbul:

In several districts of Istanbul, offices and stores are developing as major investment tools. Its investment relevance varies according to the economic activity traded in each Istanbul region and the demand for renting offices and stores. Among the most prominent and profitable areas of commercial offices and shops investment in Istanbul are:

1- Office areas on the European side of Istanbul:

Several regions on the European side are more important than areas on the Asian side in terms of investment in commercial properties such as offices and shops, which is due to excessive market movement, high demand for leasing, and, as a result, high rental gains in these regions. The most significant of which would be:

 

  • Lavanda – Maslak line:

    It is nicknamed as MIA, or Istanbul's central business square, and it is the most sought-after location for large international and Turkish corporations. It is also in the vanguard of the Istanbul area in terms of the importance of investing in the office and retail sectors.
  • Şişli – Besiktas line:

    They are regarded as one of the most attractive locations due to their central location and proximity to the Bosphorus Bridge, roads, public transportation lines, and the metro. In addition, their prices are slightly lower than those of the Lavanda-Maslak line.
  • Kağithane - Seyrantepe line:

    On the European side, this region accounts for around 5% of the office stock. The sector of real estate development in the area is booming, especially since the urban change. Because of its closeness to the Lavanda-Maslak line and its low rental costs, the Kağithane region looks to be a feasible alternative to the Lavanda-Maslak line in terms of commercial unit investment.
  • Basin Express line:

    This area has become one of the most lively and appealing areas of Istanbul for businesspeople, firms, and investors due to its proximity to the World Trade Center and major vital highways in Istanbul, such as the E5 and TEM. The area is also known for its affordable rental rates. In the near future, many anticipate the region to become a new destination in terms of investment importance.

On the European side, Zeytinburnu, Bakırköy, Küçükçekmece, Avcilar, Beylikdüzü, Esenyurt, and Başakşehir are among the areas receiving high demand from investors for offices and shops. The demand for office rentals has risen exponentially in the last three regions, which have recently begun to transform into essential economic hubs capable of attracting investors.

 2- Office areas on the Asian side of Istanbul:

Many neighborhoods on Istanbul's Asian side are major economic hubs, attracting investors, firms, and businesspeople, particularly in the retail, financial, and banking sectors, where a considerable number of public banks can be found. The appeal of the regions around the Istanbul Financial Center rose following its development, particularly for investors in the domain of offices and commercial stores. The following are the most notable of these areas:

 

  • Umraniye area:

    The neighborhood is regarded as one of the most significant high-quality workplaces and contemporary shops in Istanbul due to its location and convenient transportation. Following the adoption of the Istanbul Financial Center project, the area has become the most popular destination for investors and major corporations, particularly international corporations that utilize the neighborhood as public hubs and headquarters for their commercial activities.
  • Ataşehir area:

    Ataşehir, which is densely packed with mixed-use developments (apartments, offices, and stores), is one of the most white-collar areas in Istanbul. The region is defined by its placement on Istanbul's key highways, such as the E5 expressway and the TEM road, the city's transit artery. The Istanbul Financial Center also placed a high value on it in terms of office and retail investment.
  • Kadıköy area:

    It is the core of Istanbul's Asian side, with a robust transportation network connecting it to the city's center. It is also a major commercial hub, and considered as one of Istanbul's most costly districts in terms of workplace value and one of the most beautiful in terms of structure.
  • Kartal area:

    Despite its distance from the city center, it is connected to a solid transportation network that connects it to the city's key amenities. There are several mixed-use projects in the neighborhood, including apartments, offices, and stores, all of which are reasonably priced in comparison to other locations, so companies choose to utilize the area as their headquarters. It is projected to experience a tremendous growth in economic activity.

Average office prices in Istanbul:

The cost of an office in Istanbul varies depending on where it is located and what category of office it is. Lavanda's central business area, which is sought after by multinational businesses, leads the way in terms of business office value, with the majority of offices classified A+.

 

The table below illustrates the average office rental prices in various districts of Istanbul:

Average monthly rent per square meter in TL

Area

157

Lavanda

110

Etiler / Esentepe

103

Beşiktaş / Taksim

98

Şişli/ Mecidiyeköy

96

Kozyatağı

91

Maslak

89

Umraniye

86

Altunizade

80

Maltepe

60

Kağithane / Seyrantepe

50

Western Istanbul (European side)

40

Easteren Istanbul (Asian side)

Invest in the Istanbul office sector with damasturk and ensure Turkish citizenship:

damasturk Real Estate Company, with its extensive expertise in the field of real estate investment in Istanbul, offers consultations and facilities to investors looking to engage in the commercial real estate sector in Istanbul. damasturk also provides the valued clients with a variety of investment alternatives in the commercial office sector, which will contribute to a successful investment and the acquisition of Turkish citizenship.

 

Instant real estate consulting

+90 555 160 50 00
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Instant real estate consulting

+90 555 160 50 00
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