The most important factors affecting apartment prices in Istanbul
- Investment in Turkey
One of the first questions that comes to the mind of everyone who wants to buy apartments in Istanbul is (the prices of apartments in that city) are they high? Is it suitable for different people? Is it restricted to certain people and not others?
Let us tell you that if you want to buy real estate in Istanbul, one of the important things that you should know the affecting factors on the prices of apartments in that city because they help you to make the right choice and avoid paying money elsewhere.
What influences the prices of apartments in Istanbul?
Istanbul is one of the most expensive cities in Turkey and is the most populous city at all. The prices of apartments can be affected by a number of different factors in it. Some of these factors are external, such as the economic situation of the state, and others are internal, such as the location and condition of the apartment. Here are the full details:
- State of the economy: When the economy is in good state, people have much money to spend on real estate, so prices go up. Similarly, when the economy suffers, people are more likely to keep their money, thus prices go down.
- Interest prices: Low interest prices make to borrow money to buy an apartment, so prices tend to go up when interest prices are low. It has the opposite effect.
- Location: Apartments located in the center of Istanbul are usually more expensive than those in the hinterland. This is because the center of Istanbul is considered a more desirable place to live, so people are ready to pay more for an apartment there.
- Condition of the apartment: the apartment that needs big repairs or renovations needs to spend more than modern apartments, so you should take this into consideration.
- Another important factor is the size of the apartment as smaller apartments will be cheaper than larger apartments.
- Another factor that affects prices is whether the apartment is furnished or not, as the furnished apartments will be more expensive than the unfurnished ones.
- Prices also depend on the type of building that the apartment is in it because old buildings are cheaper than newer ones. - Old apartments are usually less expensive than new ones due to reduce their value over time. However, some people prefer old apartments for their charm and character.
The future of real estate in Istanbul
The real estate market in Istanbul has been booming in recent years, as residential and commercial real estate prices have rised and make the city’s reputation as a tourist destination and its status as a major commercial center has made it an attractive place to invest in real estate. However, the future of the real estate market in Istanbul is uncertain as the Turkish economy is currently passing through a period of Stagnation, and this has led to lower demand for real estate. In addition, the Turkish government has cracked down foreign buyers of real estate, which has also stop investment. It remains to be seen how these factors will affect the real estate market in Istanbul in the future. However, it is still a destination Attractive for those looking forward to invest in real estate.
The most expensive areas of Istanbul to buy real estate
Have you heard of someone looking for high-priced properties in Istanbul? This is normal if he is looking for luxury, nice living and other advantages, the most important of them are:
1. Sariyer District
Sariyer is located in the northern part of Istanbul and it is one of the most beautiful places in the city and it is an ideal place for those who want to live in a peaceful and natural environment but what you should know that real estate prices in Sariyer are very high but there are still some good deals to be found.
Sariyer has many advantages for buyers who are looking for a place to live or invest in Istanbul and these some details about it
- Sariyer is only a 20-minute drive from the city center and is close to the airport and other transportation centers.
- Although the prices are high but, this does not mean that there are not many opportunities that you can benefit from them.
- The quality of life is very high as Sariyer has many parks, green spaces and fresh air
- It's a safe neighborhood with little crime-
- There are many new construction projects in Sariyer so that buyers can find modern apartments and houses.
2. Besiktas region
It is one of the most popular districts in Istanbul, not only for its central location and beautiful scenery, but also for its real estate potential. Here are some of the advantages of investing in real estate in that region:
- It is located near the most popular areas where it is in the heart of Istanbul, it is close to some of the city’s most famous attractions such as Dolmabahce Palace, Ortakoy Mosque and Istiklal Street makes it a great place to invest in real estate, whether you are looking for a vacation home or investment property.
- Besiktas has an excellent infrastructure, with plenty of public transportation options good schools and hospitals
- The value of real estate in Besiktas has increased significantly in recent years, making it a good investment.
3. Maslak area
The advantages of buying real estate in Maslak are different and various, and one of its most important advantages is that it is close to the city center and has excellent public transportation. There are also many international schools in the area, making it an attractive option for families with children. In addition, there are a number of hospitals and clinics in Maslak This makes it a convenient place to live for those need medical care. Finally, Maslak is home to a number of malls and other sales establishments by other retail, making it a great place to shop for groceries and other essentials.
4. Bahcesehir area
- Bahcesehir is located in strategic site at the cross of the major fast ways E-5 and TEM highways. It is also close to the new Istanbul International Airport, and this makes it an ideal location for those who move for work or have to travel a lot.
- Real estate prices in Bahcesehir are still relatively reasonable compared to other areas of Istanbul and this makes it a great choice for those looking forward to invest in real estate in the city.
- Due to its location and the means of comfort that has, the real estate in Bahcesehir has great rental potential and this can provide investors with a good return in their investment.
- Bahcesehir has a modern infrastructure and is connected well to the rest of Istanbul by means of a self-sufficient district.
5. Uskudar region
It is one of the most popular places to buy real estate in Istanbul. It is located in the Asian side of the city and offers a variety of properties. Here are some of its advantages:
- Uskudar is center site with excellent public transportation.
- Safe neighborhood with low crime rates.
- Uskudar has many parks and green spaces.
- It is home to a variety of restaurants, cafes and shops.
- There are many schools and hospitals in Uskudar.
The cheapest areas of Istanbul to buy apartments
There are also many people looking for high-priced apartments. It is also common that there are those who are looking for cheap or moderately priced apartments and properties, and the most important of these areas are:
1. Silivri area
- Silivri is located only 50 kilometers west of Istanbul and takes only an hour to reach from the city center by car. This makes it an ideal location for those who want to live in a quiet and peaceful environment, but still be close enough to the city for work or other activities.
- One of the best things about Silivri is that it has a lot of green space and in fact, more than 70% of the area is covered with forests and parks and this makes it a great place to live for those who love nature and want to be surrounded by greenery.
- The real estate market is growing rapidly in Silivri as more people are discovering all that this area offer it and the prices of apartments and houses have risen significantly over the last few years, making it an excellent investment destination.
2. Esenyurt area
Esenyurt is one of the most populous districts in Istanbul with a central location, as it is located on the European side of Istanbul, between Avcilar and Beylikdüzü and its properties are attractive to buyers for several reasons:
- Esenyurt has a central location and good infrastructure and there are many hospitals, schools, universities, shopping centers and parks in the area.
- It is one of the most populous districts in Istanbul and the population is increasing rapidly and this makes it a good investment for those who want to buy a property for rental purposes.
- Apartment prices in Esenyurt are relatively low compared to
other neighborhoods in Istanbul.
3. Ortakoy District
- Ortakoy is one of the most popular districts of Istanbul it is located on the European side of the city and offers its residents stunning views of the Bosphorus, as well as easy access to some of Istanbul's best shopping, dining and nightlife.
- The popularity of the area has increased in recent years, and the prices of both apartments and villas have increased significantly.
- There are many new projects in it and there are many new construction projects underway which means that there are a lot of opportunities for investors to buy real estate in the area.
4. Maltepe region
Maltepe is located only 10 kilometers from the historical center of Istanbul, making it a great choice for those who want to be close to all activities .
- It connected to public transport well, with various bus lines and a metro station.
- Maltepe is home to many parks and green spaces, making it a great place to live for those who love nature.
- In recent years, Maltepe has witnessed a great development, which makes it a great place to invest in real estate.
How to buy cheap apartments in Istanbul?
If this option of apartments is actually available in that city, despite all the manifestations of modernity and development that you live in, it contains options that suit everyone without exception. If you are looking for cheap apartments in Istanbul, your best bet is to search in the outer neighborhoods of the city and that For many reasons, including:
- Apartments in the outer neighborhoods are generally cheaper than those in the inner neighborhoods, and this is because they are usually smaller in size and are located in undesirable areas.
- Many outdoor areas are undergoing improvement, which means that there are often good deals on renovated apartments.
Also, one of the ways to get a cheap apartment in Istanbul is to search projects on the map, meaning projects that are still in the early stages of construction and have not yet been completed.
You should also ask friends or family if they know of any good apartment opportunities in Istanbul and they may be able to give you some great advice or even help you find the perfect apartment for you.
Prices of apartments in European Istanbul are cheaper or Asian
There is no definitive answer to this question as prices can vary greatly depending on the specific location and the type of apartment you are looking for. However, in general, apartments in European Istanbul tend to be more expensive than those in Asian Istanbul due to a number of factors, Including the total cost of living in European Istanbul, which is higher than in Asian Istanbul.
Use the experts of Ista Property Real Estate to buy an apartment in Istanbul and to learn about the latest developments in this field as we have great experience in this field, and we will be able to help you find the perfect apartment for your needs.
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