Price of apartments in Türkiye
The legal changes approved by the Turkish government in recent years have had a significant impact on the price of apartments in Turkey, as the country has turned into an attractive destination for foreign investor and the government has opened the doors to real estate ownership for foreigners through a series of attractive incentives, making the process of investing in Turkish real estate linked to obtaining Turkish citizenship.
Until the present moment, the demand for real estate in Turkey continues to increase, and the numbers and statistics issued by Turkish statistical institutions confirm the strong demand for real estate, as these statistics gave a comprehensive view of the state of the real estate market in Turkey and its continued growth, making the Turkish real estate market one of the most attractive markets for investors at the present time.
In this article, we will take a quick look at real estate prices in Turkey and learn about the most important factors that either make the property expensive or its price reasonable.
Table of Contents
How to determine house prices in Turkey
There are many factors that affect the price of homes in Turkey, but the most notable are:
Property location.
Property specifications.
The importance of the location of the property in determining its price is as follows:
Location: The price of the property is affected by its proximity to major means of transportation such as airports, metro lines, and express buses, and also by its proximity to tourist attractions and vital areas in the city.
Major projects: Any property that is part of modern residential projects in Turkey is expected to double its price
Views: Distinctive views, such as the sea view, are an important factor in determining the price of the property, as the attractiveness of the property increases if it has an attractive view of the sea or picturesque landscapes.
As for the role of property specifications in determining its price, they are highlighted as follows:
Structure and construction history: Modern properties have a higher value compared to older properties. The condition of the property and its finishes also affects its price, as the value of properties with good services and finishes is not equal to properties with few services or poor finishes.
Location of the property: Location plays an important role in raising the price of any property in Turkey, as for example, a property with a sea view has a completely different price than the price of a property with a view of a side road, for example.
Services: Residential complexes equipped with facilities and services such as swimming pools, clubs, restaurants, and central heating services differ in price from a property located within a regular building that lacks these.
Price of apartments in Turkey
Let us start talking here about the price of apartments in Turkey exclusively in the city of Istanbul and according to the latest statistics, the price of one square meter ranges between 750 US dollars and 1500 US dollars and can increase or decrease according to the specifications, view, location of the property and many factors.
You can also get a house in the center of Istanbul with an area of 100 square meters at a price of approximately 80 thousand dollars, but the price of large apartments can reach up to 400 thousand dollars if it includes four or more rooms.
Here we have reached the conclusion of our article in which we talked about the price of apartments in Turkey in Turkey and what factors are taken into account when determining the price of any property in Turkey.
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