The area was until the big fire of Pera, also called the big fire of Beyoglu in 1870, the center for rich foreign Levantines, Armenians, and Greeks, who later moved towards Sisli. The Naum Theatre, which was frequently visited by the Sultans Abdülaziz and Abdülhamid, was damaged during the fire, as well. The theatre had been reconstructed and opened as Cicek Pasaji, a famous and busy bazaar with small restaurants and pubs.
Deutsche Schule Istanbul and Galatasaray High School are well-known private schools in Istanbul, both in the Beyoglu area. There are also two universities, which makes Beyoglu also attractive to students: The Beykent University Taksim Campus and The Mimar Sinan Fine Arts University.
Buying a property in Istanbul Beyoglu district maybe a good idea for those who prefer to be in the heart of the city. However here're two points to consider; depending on the exact location, it can be noisy at the peak seasons due to the high number of visitors. And the property prices in Beyoglu will be higher compared to the other districts of Istanbul.