Istanbul's waterfront mansions are up for sale! The new route is Bodrum, Alaçatı, Çeşme

The 6.2-magnitude earthquake that struck Istanbul on April 23 has caused great anxiety among citizens who own property along the coastline. The fact that seismologists have pointed out that structures along the shoreline would be in great danger due to the risk of a tsunami in a potential Istanbul earthquake has turned eyes toward the historic waterfront mansions on the Bosphorus.

According to a report by Türkiye Gazetesi, there are approximately 600 waterfront mansions in total on both sides of the Bosphorus. The vast majority of these structures have a history of about 200 years and hold the status of historical monuments.

Built with wooden materials and traditional techniques, these historic structures are insufficient to meet modern earthquake safety standards.

FIVE MANSIONS PUT UP FOR SALE AT ONCE

Following the 6.2-magnitude earthquake, there has been remarkable activity in the Istanbul real estate market. Real estate consultants announced that within just two days, five mansion owners took action to sell their properties.

According to experts, home sales in coastal areas have gained momentum due to safety concerns following the earthquake. Although these special structures located along the Bosphorus line are known for both their historical and aesthetic value, they have begun to be seen as risky due to their lack of resistance to earthquakes.

NEW ROUTE HAS BEEN DETERMINED

The direction of demand for luxury housing has also begun to change. Moving away from the historical texture of Istanbul toward safer, newly built, and detached houses, buyers have turned their route to Aegean coasts such as Bodrum, Alaçatı, and Çeşme.

Real estate consultant Handan Bozanoğlu described the change as follows:

“Istanbul has faced the reality of an earthquake. Of course, Istanbul is a unique city, but people have to prioritize their safety first. For this reason, departures from the coastal areas, especially the mansions along the Bosphorus line, have begun. People want to either rent them out or sell them completely and move to regions like Bodrum and Çeşme. However, the prices of valuable real estate have dropped significantly due to earthquake anxiety. This makes the owners think twice.”