Real estate prices in Istanbul are one of the first issues that preoccupies any foreigner who wants to buy real estate in this city. Is it suitable for him or is it expensive?
One of the questions raised in this regard is (What is the future of real estate in this city?)
For accurate information on this topic, we advise you to follow the following article, in which we will provide the most important information in the field of real estate in Istanbul, and we will talk about its prices.
Are real estate prices in Istanbul high or low?
Did you know that there are those who believe that real estate prices in this city are very high and are only suitable for people with huge budgets, is this true? Of course not, Istanbul is witnessing a very large real estate diversity that suits all tastes and budgets without exception, and this is precisely what made it the focus of attention of investors and foreigners in general.
In general, there are specific factors and constants that help determine the value of real estate in this city or in other Turkish cities, and here are the most prominent of them:
1 – Geographical location is one of the most important factors that help determine the value of the property. The more distinguished it is, the higher the value of the property and investment.
The privileged location is meant to be close to public services such as schools, universities, hospitals, transportation, etc., to be close to huge strategic projects such as airports, water canals, bridges, tunnels, and others.
Do not forget to take a look at the future of the region and the upcoming plans. Will there be huge strategic projects near it?
2 – Also, the view of the property plays an important role in determining its value. Does it overlook the sea or the green spaces, or does it overlook the city streets?
3 – The internal property specifications certainly have a significant impact on the value of the property. Are they modern or traditional? What is the age of the build? (It is well known that new properties are more expensive than old ones.)
4 – Is the area in which it is experiencing significant urban and real estate growth (these areas are markedly increasing in real estate prices).
What is the future of real estate in Istanbul?
Before you buy a property in Istanbul, take a look at the future of real estate in this city. Is it on the cusp of a boom period? Will prices rise in the coming period?
According to expectations, it is expected that real estate prices in Turkey in general this year will increase by up to fifty percent for many reasons, the most important of which are:
– The high population density witnessed by Turkey in general and Istanbul in particular, as it ranked fifth in the world in terms of population density.
– The demand for buying real estate in it has increased significantly, especially after all the many facilities provided by the Turkish government.
– Because of its advanced and modern infrastructure that competes with the most important cities in the world.
– It contains the largest air transport station in the world (Istanbul New Airport).
– Work is underway to construct one of the largest projects in the world in its European section (the new Istanbul Water Canal), which will have a great impact on the economic and real estate side.
– The spread of urban transformation projects that aim to replace old real estate projects with modern and high-end ones.
Among the reasons that lead to the rise in real estate prices in Istanbul is the great economic recovery that the Turkish state is witnessing, in contrast to the situation in many other countries in the world, especially in Europe.
Turkey’s economy has proven that it is resistant to crises, and this was fully evident during the Corona crisis that swept the world. This prompted many international companies to choose to build their corporate headquarters there, especially after the start of the Ukrainian-Russian war.
Political stability also plays an effective role in the rise in real estate prices, especially with the crises and wars that the neighboring countries are witnessing.
The highest real estate prices in Istanbul:
It is natural to find high-priced and low-priced properties with this great diversity in the real estate sector in Istanbul, but apartments in residential complexes are considered the highest, despite that, statistics have proven that the demand for them is very large because of what they provide to the residents of a sophisticated and integrated life.
Also, the prices of the villas are rather high due to its distinguished geographical location and its wonderful view, which is either freely or over the forests, in addition to its large area.
Which areas are best for buying an apartment in Istanbul?
Through the following paragraph, we will present to you a group of areas in Istanbul that are suitable for everyone and the most famous.
1 – If you want to live among the Arabs in a conservative and developed environment, you should choose (Bashakshehir), which is located on the European side of the city and is famous for its high-end complexes and great modernity. It is suitable for housing and residence, as well as for real estate investment, as real estate prices have recorded a remarkable increase during the last three years.
2 – If you are looking for an affordable apartment with great specifications, you can go to (Beylikduzu) also located on the European side and is characterized by its modern buildings and the development of its infrastructure, and the value of real estate investment in it has increased in particular after the Metrobus line passed through it.
Real estate prices in Beylikduzu are distinguished, but they will rise in the coming period due to the increased demand for real estate in it and also as a result of its proximity to the most important strategic projects in the city.
3 – The cheapest real estate prices in Istanbul can be found in the Silivri area, which is characterized by its rural character and the vastness of its green spaces (it should be noted here that it has received great government attention, as it works to provide it with public transportation to make transportation to and from it easy).
We have provided to you through this article with Important details about real estate prices in Istanbul. If you have any other inquiries, you can contact us, or if you want to get a property in this city, do not hesitate to make your dreams come true with us.
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