How Are Real Estate Prices in Istanbul Determined?
How Are Real Estate Prices in Istanbul Determined?
Istanbul, one of the most popular cities in the world, is a metropolis with endless opportunities and unlimited options. Living in such a big and vibrant city is the dream of many people. Istanbul has always been and continues to be the center of attention in real estate investment. Istanbul, which is the trade and life center of Turkey, continues to grow with new investments made every year. Real estate prices in Istanbul are increasing year by year, which grows and develops day by day with investments. Real estate prices vary in every district and every neighborhood of Istanbul offers many options to buyers.
- The most important factor in determining real estate prices in Istanbul is location. The value of the location where a real estate is built directly affects the price of the real estate. As districts such as Besiktas, Kadikoy, and Sisli have a high value in terms of location, this situation is reflected in real estate prices. The most expensive properties in Istanbul are located in these districts.
- Another factor that stands out after the location is the quality of the material used in the construction of the real estate. The price of high-quality real estate built with quality materials is higher than the others. This factor, which is very important in terms of durability and comfort, is an important feature that should be considered in choosing a house where we will live for many years.
- Another factor that is effective in determining real estate prices in Istanbul is the properties of real estate such as the proximity to transportation facilities, facade, view, floor, size, and the social facilities like gym, sauna, and Turkish bath.
- Another factor affecting real estate prices in Istanbul is the intense demand from foreign countries.
- The megaprojects (Istanbul Airport, Istanbul Canal Project, etc.) that are or will be made in Istanbul are also effective in determining real estate prices.
As can be seen, there are many factors that are effective in determining real estate prices in Istanbul. When you decide to buy real estate, it is possible to reach the average house sale price by considering many features of the house. Thus, you can observe whether the house you want to buy is sold at its real value. Also, another method used in determining the price of the house is the calculation made over the rental price (Generally in second-hand houses). The average period of the turnaround of property in Turkey of 17-18 years. In some districts of Istanbul, this period is even shorter.
Districts with the Highest Investment Value in Istanbul
According to the index published by a reputable real estate portal in Turkey, Beykoz is the highest value of the investment district in Istanbul. In this published content, the districts with the highest price increase in the housing category in Istanbul in the last year were announced. In the housing for sale category in Istanbul, the highest increase in the average square meter price took place in Beykoz. Beykoz was followed by Sariyer, Avcilar, Basaksehir and Uskudar, respectively.
With the effect of the Covid-19 pandemic, the detached living areas have attracted attention at the moment, and the value increase in the houses in the regions where villas and large apartments are located in Istanbul has been quite high.
Districts such as Avcilar, Kucukcekmece, Basaksehir, and Arnavutkoy are also among the districts with high investment potential with the giant Istanbul Canal Project, which is planned to be structured in Istanbul and the first steps have been taken. These districts, whose surroundings will develop and change with the Istanbul Canal Project, offer investors unique opportunities to generate high profits. Especially with the construction of the Istanbul Airport, Arnavutkoy has become even more valuable. The developing district is one of the most ideal districts for real estate investment in Istanbul. The district, which includes two giant projects, awaits investors with its unique opportunities.
Districts to Buy Real Estate with Affordable Prices in Istanbul
Living in Istanbul, one of the largest metropolises in the world with its unique opportunities, is the dream of many people. However, it may not always be easy to find the ideal house suitable for the budget in Istanbul. Real estate prices in Istanbul vary depending on many factors. Centrally located real estates with various features have higher prices, while those located a little further from the center are more affordable. It should not be forgotten that there is no single center in Istanbul. In other words, in such a large and crowded city, every district has its own center and every district has all the social facilities that may be needed. What is meant by the center here is its proximity to tourist attractions such as Taksim Square, Sultanahmet Square, Eminonu, and business centers such as Maslak, Nisantası, Levent, and Mecidiyekoy. If we take a look at the districts in Istanbul where real estate can be purchased at the most affordable prices:
- Esenyurt is the district with the most suitable properties for sale in Istanbul. It is one of the developing districts of Istanbul and is the district where investors show the most interest. It is the district where most real estate sales are made to foreigners. The face of the district changes day by day with branded housing projects, large shopping centers, and business centers built in Esenyurt. This district with the lowest square meter price is an ideal place for investment in the future. The housing investment return period in Esenyurt is 16 years.
- Beylikduzu is one of the greenest districts of Istanbul. It competes with European cities with its regular urbanization and green areas. It is the district where the most affordable real estate properties are located after Esenyurt. Although it is relatively far from the center, it is easy to reach other districts by the E5 highway. Also, there are public transportation facilities such as Metrobus, buses, and minibusses in the district. The housing investment return period in Beylikdüzü is 18 years.
- Sancaktepe is one of the fastest developing districts of Istanbul in recent years. The real estate sector in Sancaktepe, located on the Anatolian side, is advancing rapidly and luxury branded housing projects are being built in the region. Real estate prices in Sancaktepe are also quite affordable, which stands out with its proximity to Sabiha Gökçen Airport and its quiet living space. The housing investment return period in Sancaktepe is 16 years.
- Arnavutkoy, which has made a name for itself with its Istanbul Airport and Istanbul Canal Project, is one of the most valued districts of recent years. Although there are still affordable real estate properties in the district, it is expected that real estate prices will increase rapidly with the completion of the Istanbul Canal Project. The housing investment return period is 23 years in Arnavutköy, which offers unique opportunities for those who want to make housing, land, and commercial investments.
- Silivri, located on the western border of Istanbul, is a district that draws attention with its farms and independent life. it is possible to easily reach other districts of Istanbul with the E80 and D100 connection roads. The housing investment return period is 22 years in Silivri, which is a good alternative for those who want to buy an affordable house in Istanbul.
If you want to own real estate in Istanbul, which is the center of attention of the whole world with its geopolitical location, commercial potential, touristic attraction, and huge investments, we recommend that you work with a trustable real estate agency. As Diyar Turk Real Estate, we offer you the most suitable real estate in Istanbul with the best price guarantee. With our before-sales and after-sales services, we are always ready to assist you in your real estate purchasing process in Istanbul. Please do not hesitate to ask any questions you may have. You can contact us via our website or firstname.lastname@example.org e-mail address.