Apartment prices in Istanbul are one of the most important topics that you are interested in looking at and getting to know its aspects when searching for apartments for sale in that city, especially if you did not have sufficient experience in the Turkish real estate market previously.
In this article, the editorial team at Zoom Real Estate chose to highlight the most important information related to real estate and apartment prices in that city.
Are apartment prices in Istanbul high?
Apartment prices in Istanbul are high, especially due to the city's popularity among tourists and the recent influx of foreign investment. The average price per square meter for apartments in the city center is around 2,500 to 3,500 Turkish liras (TL). The prices of apartments located in desirable neighborhoods can exceed 8,000 TL per square meter.
Istanbul's real estate market is also affected by fluctuations in foreign currency exchange rates, making it an unpredictable investment. Despite these factors, Istanbul remains a popular location for potential investors looking to take advantage of the city's cultural and economic growth.
Factors determining apartment prices in Istanbul:
The price of an apartment in Istanbul is determined by several factors. Location is a major factor as apartments located in the city center, such as Beyoglu, Besiktas and Sisli, tend to have higher prices due to their centrality and proximity to shopping and entertainment areas. Apartments located in the suburbs tend to have lower prices. Apartment size also affects the price, larger apartments cost more than smaller ones.
The condition of the apartment is another factor as a newly constructed apartment with modern amenities, such as air conditioning, will be more expensive than an old apartment with fewer amenities and the number of rooms in the apartment also affects its price; Apartments with more rooms are usually more expensive. Other factors that can affect the price include access to public transportation, proximity to schools and universities, and availability of parking spaces.
The most expensive neighborhoods in Istanbul:
The Bosphorus is one of the most expensive neighborhoods of Istanbul and is located along the European side of the city and with its stunning landscapes, this neighborhood offers a range of luxury homes and apartments with access to some of the most exclusive clubs and restaurants in the city.
Beyoglu is another prestigious neighborhood in Istanbul. It is located in the historical European side of the city. This neighborhood is famous for its vibrant nightlife, with a range of trendy bars, restaurants and clubs located within walking distance of each other. The area also has some of the most luxurious hotels in all of Istanbul.
Kadikoy is a district on the Asian side of Istanbul known for its beautiful waterfront views and vibrant cafes. Real estate is highly sought after due to its proximity to both sides of Istanbul, making it easy for residents to enjoy both sides of this unique city.
Cheapest neighborhoods in Istanbul:
Küçükçekmece is a great choice for budget travelers. Located on the European side of Istanbul, it is home to many affordable hotels, restaurants, and shops. It is close to Istanbul Ataturk Airport, making it a convenient base for visitors who need to get around the city quickly.
Another affordable neighborhood in Istanbul is Fatih. This district is known for its traditional Ottoman architecture, many mosques, churches, and other historical sites. It also has a wide range of affordable hotels and restaurants, making it an ideal choice for travelers who want to explore the city on a budget.
Another good option for budget travelers is the Esenler neighborhood, as this district is located on the Asian side of Istanbul and offers a variety of low-cost accommodation as well as affordable shops and restaurants.
The reasons for the high prices of apartments in Istanbul:
The high prices of apartments in Istanbul are a concern for many potential buyers. The city's status as a major urban center is a major factor in the price hike, and its strategic location as a gateway between Europe and Asia has led to an influx of foreign investment, driving up real estate values.
In addition, the city's population growth has contributed to higher apartment prices, as housing demand outstrips supply and the Turkish government has done little to address the problem, as most initiatives aim to support developers rather than buyers. This has led to an increase in the cost of apartments in Istanbul, leaving many of people are unable to buy the homes they desire.
The importance of buying an apartment in Istanbul:
The city is known for its high property prices, but these prices are likely to increase over time and investing in an apartment in Istanbul can be a wise decision due to the possibility of capital appreciation in the future. In addition, rental income from tenants can provide a steady stream of income for owners.
Istanbul's infrastructure is constantly improving with the construction of new roads, bridges, and public transportation lines. This makes the city more attractive to potential buyers who want easy access to amenities, services, and entertainment options. Moreover, Istanbul has many different neighborhoods with their own distinct character and style that appeal to different types of people. people and lifestyles.
Owning an apartment in Istanbul also gives access to various cultural institutions and events in the city, such as museums, art galleries, and music festivals. In addition, it allows owners to take advantage of tax benefits available in Turkey.
Many advantages of buying an apartment in Istanbul with Zoom Real Estate:
-Extensive knowledge and close relationships within the Istanbul real estate market.
–Cheap apartments for sale in Istanbul that satisfy all tastes.
–Buying an apartment in Istanbul in convenient installments.
-Choose an apartment suitable for obtaining Turkish citizenship and enjoying its advantages.
– Taking care of all the necessary procedures and papers for you.
If you have any questions about the real estate market in Istanbul, you can contact our real estate consultants, who will provide you with all the details that you need to know and view, as well as your questions will be answered and our staff seeks to help you find the right apartment for you without you having to spend a lot of time, effort and fatigue for that.
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