Real estate prices in Istanbul are one of the things that most concern those who are about to own real estate in that city. What is known about it is that it is the most expensive city in Turkey and for those who, when compared with European countries, find it moderate and very suitable for many.
In this article, you will see some information related to this aspect of the real estate market in Istanbul , and you will find answers to many of your questions.
The reasons for the high real estate prices in Istanbul:
Istanbul is one of the most populous cities in Turkey and the world, with a population of over 15 million people. The city has a rich history dating back to the Byzantine and Ottoman Empires and is also a major tourist destination, with more than 12 million visitors every year.
The city is located on the Bosphorus Strait that separates Europe and Asia, and it is the only city in the world that is located on two continents. This unique location gives that city strategic importance, which led to its nickname as "the crossroads of the world."
Istanbul's economy is also booming, and this growth has increased the demand for housing, driving up prices. The average apartment price in Istanbul increased by 18% in 2018 alone and has continued to do so in the following years up to the present day.
Istanbul has an excellent transportation system, including an extensive network of buses, metros, and trains. In addition, the city has a modern airport that serves both domestic and international flights.
The high real estate prices in Istanbul are due to a number of factors, including the city's population growth, economic prosperity, and strategic location. If you are looking to buy a property in Istanbul, you must be prepared to pay a higher price.
The most important influences on real estate prices in Istanbul:
There are certain factors that play a major role in determining real estate prices in the city:
- - One of the most important factors affecting real estate prices is location. Properties located in central business areas or near major tourist attractions usually have higher prices than those in other parts of the city.
- - Another factor that determines prices is the size of the property. Larger properties usually cost more than smaller properties.
- - Older properties tend to be less expensive than newer properties because they often require more maintenance and repairs.
- - The condition of the property also affects its price. Well-maintained properties that are in good condition usually cost more than those that need repairs or that are not well-maintained.
Search for cheap real estate for sale in Istanbul:
Off-plan apartments often sell for much less than apartments already built and this is because the builder company is looking to sell as soon as possible and is willing to sell at a discount in order to do so.
Rural areas usually have properties that are much cheaper than urban areas and this is due to the lower demand for apartments in these areas. If you want to live a bit outside the city, you can find some great deals.
You should consider buying an old apartment and renovating it, as this can be a great way to get a property for less, and of course, there are some things to keep in mind when considering this option. First, you will need to calculate the cost of renovations and this may vary depending on the scope of work required. But it is important to keep a realistic budget in mind.
Important tips when searching for a property for sale in Istanbul:
When you are in the process of buying a property in that city, there are many procedures that you must take in order to ensure that you get the best and most important opportunities. Below are the details.
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Doing field trips:
This is necessary for several reasons, firstly, you have to be able to see the property in person to really get a feel for it and you can't do that by looking at pictures online and secondly, you have to be able to talk to people who live in the area and get their insight into what it's like Living there and that's something you can't really do from afar. Thirdly, you need to learn about the different districts of Istanbul so you can make an informed decision about where you want to buy.
Hire a real estate consultant:
A real estate professional will know all about the different neighborhoods in Istanbul and can help you find the perfect property for your needs. He will also be able to tell you about any legal issues you should be aware of before making a purchase. He will be able to assist you with the negotiation process. Financing the purchase if you do not have the full price of the property.
Determine the purpose of the purchase:
Are you looking to buy a property in Istanbul for investment purposes or as a place to live? It is important to determine the purpose of purchase when buying a property in Istanbul so that you can make the best decision for your needs.
If you're looking to invest, you'll want to consider properties located in high-demand areas that can increase in value and if you plan to live in the property, you'll want to focus on finding a neighborhood that fits your lifestyle and budget.
If you want to learn about issues related to the real estate market in Istanbul , you only have to contact our real estate consultant, who will provide you with everything you need to know and view them. You will also get many options and many opportunities, and you will surely find among them what suits you and achieves your goals.
Zoom Real Estate company offers you:
-Free consultations and important tips to help you in the journey of buying a property in Turkey
- Luxury real estate for sale in Istanbul, Ankara and all Turkish cities.
- Apartments for sale in Istanbul suitable for Turkish citizenship.
-Helping you to obtain real estate residence and tourist residence in Turkey.
Zoom real estate is always here for you, contact us.
Finally, always remember that this is the best time to own property in Turkey because prices are still appropriate compared to other countries, but this will not last long as it is expected to rise in the near future.
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