Where are real estate prices in Istanbul?
The value of real estate in Istanbul is increasing year after year, which makes many wonder: Where will real estate prices reach in this beautiful city? Will it continue to rise or will it see a decline? What are the factors that affect the rise in prices? If you are interested in real estate investment in Istanbul, you should see what we will talk about in this article.
Table of Contents
Reasons leading to a rise in real estate prices in Istanbul
Below we will talk about the factors affecting real estate prices in Istanbul
The type of property
The effect of the type of real estate on its price is unquestionable, the desires of investors differ and vary, and the demand for certain types of real estate is an important factor affecting the rise or fall of its price and the property may include villas or apartments in residential complexes, separate properties, or studios and in addition, the number of rooms in the property plays a role in determining its price, as the greater the demand for a certain type of real estate, the higher the price of this type more than others.
The condition of the property
The condition of the property is a factor that positively or negatively affects real estate prices in Istanbul, especially if the property requires repair and renovation procedures and many investors may back out of the purchase if the property is worn out; Since the renovation process can be expensive, in this case the price of the property is reasonable compared to luxury properties that were built on strong foundations and with modern technologies.
The location of the property in Istanbul
Location is one of the main factors affecting real estate prices and determining its market value and if the property is close to the city center, transportation, schools, universities, and hospitals, its value increases in proportion to its proximity to these services, and vice versa, as it is known that the price per square meter in the city center differs from the price per square meter in the outskirts and countryside of the city.
The interior finishes of the property
The quality of high-quality cladding and finishes, and luxurious and modern decorations, is an important factor in raising the value of apartments, especially if luxury building materials such as marble and multiple ceiling designs are used, in addition to modern equipment and smart devices inside the properties that play a role in increasing real estate prices in Istanbul.
The area of the property from the inside
The opposite relationship is evident between the area of the property and the price per square meter in it, where the price per square meter in a studio apartment is higher than the price per square meter in an apartment consisting of three rooms in the same building and a five-bedroom apartments will be more valuable than other apartments.
The property is close to transportation lines
The value of real estate in Istanbul increases when it is close to modern transportation, for example if the investor chooses to buy a property near the Tramway station, the price of the property will be higher compared to buying apartments in areas far from Tramway and therefore, the proximity of apartments to transportation is an effective factor in increasing real estate prices.
Advantages of buying real estate in Istanbul
- Istanbul is one of the most important cities in Turkey and has a strategic location linking the European and Asian continents, and this means that it offers great economic and commercial opportunities.
- It is witnessing rapid growth in the real estate market, as the demand for real estate is increasing, whether from local or foreign investors, and this enhances the opportunity to obtain a good investment return.
- There is a wide range of real estate options, from apartments and villas to luxury residential projects and apartment complexes, you can find the property that suits your needs and budget.
- It enjoys a developed infrastructure that includes public transportation, public utilities and services and the city provides multiple means of transportation such as the metro, buses, and tramway, which makes it easy to move around the city.
- Istanbul embraces a rich history and diverse cultural heritage and you can enjoy visiting the famous sights such as Hagia Sophia, the Grand Bazaar and the historical palaces.
- The advantage of obtaining Turkish citizenship by purchasing an apartment in Istanbul worth $400,000.
- Obtaining real estate residence when buying a property in Istanbul worth $75,000.
- After being granted Turkish citizenship, you can obtain a Turkish passport and enjoy the rights of a Turkish citizen.
- You can buy an apartment in the residential complexes in Istanbul and enjoy the high-end services in the complex.
- Reap huge returns when renting your apartment to tourists during the tourist seasons.
- When investing in real estate in Istanbul, you will have the opportunity to obtain tax incentives offered by the Turkish government to foreign investors.
- The city includes many mega projects, such as: the new Istanbul Airport, the new Istanbul Canal, and the highways.
- Real estate prices in Istanbul are suitable for everyone compared to real estate prices in other European countries.
- The city includes many malls and huge commercial centers, such as: Mall of Istanbul, Istanbul Cevahir Mall.
Will real estate prices increase in Istanbul?
With the increase in population growth in Istanbul, the demand for real estate is expected to increase, especially in promising areas such as Basaksehir and Beylikduzu and in addition, the Turkish government implements policies that encourage real estate investment, which enhances the demand for apartments and real estate in the city, so real estate prices in Istanbul are likely to rise in the coming years, but that depends on several other factors such as the global economy and domestic politics.
How to take advantage of the high real estate prices in Istanbul?
- Buying a property in a desirable tourist area such as: Beylikduzu or Basaksehir and renting it to tourists, as rental prices can be high in these areas.
- By buying an apartment in Istanbul, you can benefit from real estate residency and obtain associated rights and benefits, such as traveling freely to Turkey and benefiting from public services.
- Buying a property in Istanbul and benefiting from the increase in real estate prices in the future, then selling the property after several years to make a profit from the price difference.
- You can buy an apartment at a price that suits the conditions for obtaining Turkish citizenship, and after meeting the required conditions, you can obtain Turkish citizenship and a Turkish passport, which is considered one of the most powerful passports in the world.
Common questions
What are the most popular areas in Istanbul in terms of real estate prices?
The most popular districts in Istanbul include: Besiktas, Sisli, Sariyer, Nisantasi, Basaksehir, and Beylikduzu.
Are real estate prices different in the interior and coastal areas of Istanbul?
Yes, real estate prices differ between inland and coastal areas. Luxurious coastal areas are usually more expensive.
What are the factors affecting the rise or fall of real estate prices in Istanbul?
Real estate prices are affected by several factors such as location, area, surrounding facilities, view, quality of finishes and design, and market demand and supply.
The idea of buying real estate in Turkeyhas become popular among those interested in obtaining an ideal opportunity for housing or investment and take advantage of the appropriate real estate investment options in Istanbul to obtain a high return by communicating with our real estate consultants.
Do not forget that investing in real estate in Turkeyis only a way to gainTurkish citizenship orreal estate residencepermit that allows you to stay in the country legally and then acquire many of the privileges that a Turkish citizen gets.
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