Property Investment in Istanbul
Istanbul is a rare city where investors have invested in real estate for years and is preferred by foreigners to live. Every year, thousands of foreign investors buy real estate in Istanbul for various purposes such as vacation and living.
Istanbul, one of the rare cities that connects two continents, has been an indispensable investment city for real estate investors for years. This city, which has great investment potential and hosts great opportunities, continues to attract the attention of investors in Turkey and around the world. Connecting the continents of Asia and Europe, this city is also one of the most important trade centers in the world. This is one of the most important reasons that make Istanbul attractive, besides the various opportunities and opportunities it offers. Because the opportunities it offers are opportunities that are available in very few places in the world.
Investors who know the geographical and commercial importance of Istanbul continue to invest in Istanbul by increasing their investments every year. We have prepared this article for new investors who have just decided to invest in Istanbul and want to get information about real estate prices in Istanbul. In this article, you can find valuable information such as how real estate prices are determined in Istanbul, the importance of the location of the real estate, what to consider when buying real estate, average real estate prices in Istanbul in 2024 and the best locations for investment in Istanbul.
How Are Real Estate Prices Determined in Istanbul?
One of the most curious subjects of real estate buyers is how real estate prices are determined. Many factors such as location, size, features, age, and social facilities are effective in determining real estate prices. However, as it is known, “LOCATION” is the most important factor in determining real estate prices. Important criteria such as the location of the real estate, its proximity to social facilities, its proximity to public transportation and main roads, and its view are the most important factors that directly affect its price. Of course, the “location” factor alone is not enough to determine the property price. In addition, many factors such as the size, age, facade, solid, interior, and exterior features of the real estate, and its social facilities and facilities play an important role in determining the real estate price.
What is the Effect of Property Location on Property Price?
Undoubtedly, the most influential factor in determining the price of a property is its location. Both the buyer and the seller evaluate the real estate from their own perspective and consider various factors while doing this. At this stage, while the seller determines the price, the first factor that the buyer considers when purchasing real estate is again the “location”. If the location of a property is good, it provides maximum profit to the seller and a good investment advantage to the buyer. A well-positioned property never loses value, it always gives its buyer a profit.
What are the Relatives Required in Real Estate Location?
Anyone who decides to buy real estate should pay attention to the social facilities and transportation facilities near the real estate. The criteria sought in the location of the real estate vary according to the personal needs and wishes of the individuals. For example, some buyers are looking for real estate close to their workplace, some close to their child’s school, some close to public transport stops, and some close to hospitals. For this reason, a buyer who decides to buy real estate should determine his needs and wishes well and do his research in this direction. Otherwise, buying a property in a location that does not meet expectations will be a bad investment that can cause big problems in the future.
What are the Points to Consider When Buying Real Estate in Istanbul?
There are some points that you should pay attention to when you decide to buy real estate, not only in Istanbul but anywhere in the world. These are the property.
Location: As we have mentioned many times above, “LOCATION” is one of the most important points to be considered. Purchasing a property in a location that is not very popular now but has a high potential for development in the future and where investments are made is one of the biggest investments that can be made for the future. At the same time, you need to pay attention to the fact that it is able to meet your needs, considering its proximity to your work, school, and other opportunities.
Size: It is possible to find hundreds of thousands of properties in various sizes suitable for every budget and every need in Istanbul. The important factor here is that you determine your needs well and start looking for a property that is suitable for these needs. In other words, how many rooms will the property have, will it have a balcony or a terrace, will it meet the needs of your family, etc. You should answer the questions well and make your decision in this direction.
Age (Status): The age of real estate in Istanbul is one of the important points to be considered. It is a factor that directly affects the quality of the real estate. At the same time, old real estate can cause extra costs such as maintenance and repair costs, causing a waste of both time and money.
Proximity to social facilities: Almost all the properties for sale in Istanbul are close to stops such as schools, hospitals, shopping centers and public transportation. Many are even within walking distance of many amenities. For this reason, it is possible to find the real estate you need easily.
Price: Like all over the world, real estate prices in Istanbul vary according to location, size, age and features. It is very important to determine your budget well and to choose the right property for you, considering the amount you can pay without reducing your quality of life. If you exceed your budget, you will inevitably experience payment difficulties in the future.
What are the Average Property Prices in Istanbul in 2024?
TUIK (Turkish Statistical Institute) announced that the sales of housing in Turkey in 2021 were 1,491,856. Istanbul was the province with the highest sales of 276,233 houses. Let’s take a look at the average housing prices in Istanbul.
What are the apartment prices in Istanbul in 2024?
Apartment prices in Istanbul vary depending on the location, size, façade and features of the flat. Independently of all these factors, the average flat price in Istanbul in 2024 is determined as 17,500 TL per square meter.
What are the villa prices in Istanbul in 2024?
Villa prices in Istanbul vary depending on the location, size, facade and features of the villa, as in the same flat prices. The average villa price in Istanbul in 2024 is determined as 29,300 TL per square meter.
What are the land prices in Istanbul in 2024?
Land prices in Istanbul vary depending on the location, size, view and quality of the land (field, vineyard & garden, zoned land, etc.). The average land price in Istanbul in 2024 is determined as 3,500 TL per square meter. The prices of the plots around the Bosphorus, with a sea view and located in the city center are well above this price. In addition, the zoning status of the plots is among the most important criteria that determine the price.
Where are the Best Places to Buy Real Estate in Istanbul?
Istanbul is the province with the highest investment value in Turkey. For this reason, it is a guarantee that the investment made in any part of Istanbul will gain value and gain. However, it is also possible to shorten the earning process significantly by following the infrastructure and superstructure works carried out in some places and making good use of the region’s potential. Istanbul’s Kagithane, Basaksehir, Arnavutkoy, Bagcilar and Kucukcekmece districts are the regions that promise high earnings in the future.
How Can I Find the Best Property in Istanbul?
Finding the best real estate in Istanbul can be thought of as finding the most suitable real estate for your needs, wishes and budget. It is not an easy situation in a metropolis with 39 provinces and hundreds of thousands of housing stocks. For this reason, determining your budget, wishes and needs well and working with a good real estate agent is the best way to avoid problems in the future. It is possible to find the best real estate in Istanbul with a real estate consultant who is an expert in his field.
Frequently Asked Questions About Property in Istanbul
What are the average real estate prices in Istanbul?
The average real estate prices in Istanbul are 17.500/m² for apartments, 29.300/m² for villas and 3.500/m² for plots. These prices will vary depending on location, size, facade, and features.
I want to buy real estate in Istanbul, which districts should I look at?
If you want to buy real estate in Istanbul, first, you should determine your needs and wishes well and look for the most suitable district for you in line with your budget. For example, if you want a house close to your work, your child’s school, and health facilities, it would be more appropriate to head to the houses in that area. However, if you are considering buying an investment property, as we have just mentioned, Kagithane, Basaksehir, Arnavutkoy, Bagcilar and Kucukcekmece districts are districts that promise high income in the future and can be evaluated.
Is property cheap in Istanbul?
From a global perspective, real estate in Istanbul is quite affordable and cheap compared to metropolises such as London, New York, Paris, and Berlin. It is far ahead of these cities in terms of the opportunities it offers. Compared to other provinces in Turkey, it is the most expensive province of Turkey in terms of real estate.
Is Istanbul an ideal place for investment?
Definitely, Istanbul is one of the most ideal places in the world for investment. Trust us 😊
Is it the right decision to buy real estate in Istanbul?
Definitely, it is the right decision. While all currencies lost their value in this time of global crisis, real estate became one of the most valuable investment instruments. Istanbul, on the other hand, always maintains its place at the top as an investment city with great potential. For this reason, it is the right decision to buy real estate in Istanbul, especially during these times.
Should I work with a real estate company when buying real estate in Istanbul?
You should definitely work. It will not be easy to find the real estate you want in a city this big and with thousands of supplies. For this reason, it is one of the right decisions to be taken to leave the job to the professionals and to minimize the problems that may arise afterwards.
