House prices in Istanbul are the first thing sought by those who continue or even want to live and settle in this beautiful city, which has become a destination for many individuals from different parts of the world.
The real estate market in Turkey in general and the Istanbul market in particular has become very popular recently, thanks to the facilities provided by the Turkish government as well as the incentives that made Turkey an ideal destination for investment.
An investor in Turkey can simply invest, fulfill a set of conditions, and then obtain either a two-year real estate residence permit or even Turkish citizenship, and this is what has made Turkey stand out as one of the most prominent investment destinations in the region.
Numbers and statistics about the Turkish real estate market talk about the extent of prosperity that the country has witnessed since 2012 until now, that is, since the moment the government decided to allow 183 nationalities to own property in Turkey.
In this article, we will take a quick look at the average house prices in Istanbul, as well as learn about the advantages of investment and some tips that play a role in determining the price of the property.
How to determine house prices in Istanbul
House prices in Istanbul are determined based on a number of factors, the most prominent of which are:
Location of the property: The location of the property plays an important role in determining the price of the property whether it is close to the city center or not, as well as its proximity to transportation, metro stations, airports, or the location of the property in relation to tourist attractions in the city.
The view of the property: The view of the property plays a major role in raising the price of the property. Properties with a picturesque view have a high price compared to properties with ordinary views.
Property specifications: One of the most prominent factors in determining the price of the property, as for example, properties that include swimming pools, bathrooms, sports clubs, central heating, or, for example, a distinctive design, have a higher price than properties that do not include the previous specifications.
Average house prices in Istanbul
As for the average house prices in Istanbul, according to the latest statistics, the price per square meter ranges from about 750 US dollars, and this number can increase up to 1500 US dollars based on the factors mentioned above.
For example, the price of a house in Beylikdüzü, the most luxurious area of European Istanbul, as the average price of a house with an area of 100 square meters is 38 thousand US dollars to 64 thousand US dollars.
Advantages of buying a property in Istanbul
After learning about house prices in Istanbul, you must learn about the advantages that you will get if you make the decision to buy in Istanbul, whether for investment or even for stability and housing and these advantages are:
The significant growth of the Turkish economy, which means an increase in the price of real estate.
The picturesque nature of Istanbul.
Many tourist attractions in the city.
Government support for foreign investors.
The government offers many tax facilities to those wishing to invest and reside in Istanbul.
The infrastructure that characterizes Istanbul real estate.
Possibility of obtaining real estate residency in Turkey.
Possibility of obtaining Turkish citizenship.
House prices are low compared to house prices in European cities.
Political and economic stability in Turkey.
It provides all logistical services in Istanbul, such as restaurants, schools, airports, etc.
Read also:
What is the difference between tourist and real estate accommodation in Turkey ?
