Istanbul, Turkey, is one of the world’s great cities, a historic treasure-trove, and an eclectic, diverse lifestyle option. Though not the capital, Istanbul is the country’s beating heart.
Most importantly, Istanbul offers the best of any European city—from lattes to the latest Hollywood releases (in English)—but with a superior nightlife.
You really can watch the world go by beneath a skyline of minarets and modern office blocks as ships from all over the globe trundle up and down the Bosphorus, the narrow straits that divide Europe from Asia.
Lief Simon is the managing editor of Global Property Advisor, Simon Letter, and Offshore Living Letter. He has purchased more than 45 properties, investing in 23 different countries around the world.
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Megacity Istanbul straddles the shores of both Europe and Asia and is the only city to have been a capital to both Christian and Muslim empires, as evidenced, inside its great Roman walls, by an architectural legacy like nothing else anywhere on earth.
Istanbul has long been referred to as the Paris of the East. The cafes, gardens, parks, and river walks of Istanbul are all a la Paris.
The windows of bakeries and confectioners can be picture-perfect arrangements of breads, pastries, and sweets.
The people dress smartly and wish each other good day as they come and go. The old city is ancient, but spreading out from it are many and diverse other quarters, from bohemian and artsy to chic and modern.
Istanbul owes its place in world history to these waters, which, since the days of Byzantium, have meant tolls, harbor fees, trade, and prosperity. Today, this metropolis with such a unique and enviable geographic situation is again thriving.
Officially, the population here is 14 million, but some estimate that the city’s true current population is closer to 20 million.
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Istanbul is attracting foreign investor and entrepreneur attention right now.
Increased business activity means expanding economies and healthy though not always convenient employment scenes.
The cost of living city-center has outpaced them…but city-center is where the work is.
The best part is that this world-class city is also exceedingly affordable, perhaps the best place in the world to enjoy the best of city living on a budget.
A couple could retire in Istanbul on a budget of as little as 980 euros per month.
| Expense | Monthly Cost | Notes |
|---|---|---|
| Rent | ₺1,148 | |
| Gas | N/A | Included with electricity. |
| Electricity | ₺227 | |
| Water | N/A | Included with electricity. |
| Telephone | ₺43 | |
| Internet | ₺65 | |
| Cable TV | ₺11 | |
| Groceries | ₺542 | |
| Entertainment | ₺227 | |
| Total | ₺2,263 |
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Property in Turkey—even in the most desirable Mediterranean resorts—remains affordable. It’s priced well below the cost of comparable buys in more established retirement destinations along the Mediterranean.
Property prices in Turkey can be less than half the cost of similar beachfront properties in Spain, even in the most popular coastal spots.
Note that some restrictions remain in place on foreign ownership of property in certain areas.
Foreigners can own land in Turkey only if Turks are allowed to own land in the foreigner’s country.
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Lief Simon is the managing editor of Global Property Advisor, Simon Letter, and Offshore Living Letter. He has purchased more than 45 properties, investing in 23 different countries around the world.
We Value Your Privacy! We will not share your email address with anyone else, period.
Istanbul has long been referred to as the Paris of the East. The cafes, gardens, parks, and river walks of Istanbul are all a la Paris. Also, the city is worth visiting because of the historic landmarks.
Istanbul, Turkey, is known for the best of any European city—from lattes to the latest Hollywood releases (in English)—but with a superior nightlife.
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