Foreigners living in Turkey are renting apartments that are within a walking distance to the Bosporus - in addition to renting apartments in a compound or building with a view of the Bosporus. Zafer Erkan of Funda&Zafer Real Estate, who has worked as a real estate agent in the Bosporus villages for 17 years, says that foreigners are so interested in the Bosporus area that they would even rent historic Greek houses that do not have a sea view in addition to homes with a sea view in Arnavutköy.

Foreign residents are increasingly renting historic houses in famous districts of Istanbul such as Bebek, Ortaköy and Çırağan. Erkan says that mainly foreigners prefer the dorsal sides of Bebek because Turks think that the area is not safe. 

Because of the foreign demand for real estate along the Bosporus prices in the region have increased, says Zafer Erkan. “Foreigners prefer old renovated wooden houses even if they do not have a sea view. From these homes people can go down to the shore and take a walk.”  The districts of Yeniköy, Tarabya, Bebek, Rumeli Hisarı, Arnavutköy, Çırağın Çitlembik, Gümüşsuyu and Cihangir are also preferred by Turks. 

The rent for some apartments along the Bosporus is denominated in U.S. dollars. But many rental prices are slowly starting to be advertised in euros as the dollar is losing value.