In prestigious districts of the Istanbul Bosphorus such as Bebek, Arnavutköy, Kuruçeşme, Ortaköy and Rumelihisarı, the supply of new real estate is highly limited for natural and legal reasons.
A large part of the area holds special status under the Bosphorus Law, conservation board decisions and zoning regulations.
While this makes the production of new yalıs, köşks and konaks difficult, it supports the value of existing prestige assets.
The fact that waterfront plots on the Bosphorus line have largely completed their development is another significant constraint on the supply side.
Yalı apartments and detached yalıs in particular can remain in the portfolios of the same families for generations without changing hands.
The balance of limited supply and strong demand turns Bosphorus properties into a privileged asset class on a global scale.
Family office structures, ultra-high-net-worth investors and international buyers therefore follow opportunities on the Bosphorus line closely.
In conclusion, the value of the yalıs, köşks and konaks on the Bosphorus line arises not only from their locations but also from a supply structure that cannot be reproduced and remains limited.