overview

The prices of apartments in Istanbul vary from one city to another, and there are several ways in which you can buy apartments in Turkey, such as: buying apartments in installments, buying apartments with cash. There are also some distinctive cities in Turkey that tourists from different countries resort to, so these cities contain high prices. Compared to other cities, here are the prices of apartments in Turkey and some details on how to buy them.

Apartment prices in Istanbul - reports, and statistics

  • The prices of apartments in Turkey increased during a certain period during which law was issued in favor of foreigners and giving them the opportunity to own apartments, and that was specifically in 2012.

  • Also, many nationalities, most of them Arab, were allowed to own apartments in Turkey, which led to them rising from time to time until they became very expensive. 

  • Turkey has provided full nationals for a large number of countries, which may reach 129 Arab and foreign countries. Therefore, apartment prices in some cities have risen until the rate of increase ranges between 61 to 91 percent and has continued to increase for nearly five years.

Specifications of apartments in Istanbul

  • The price of an apartment that contains one room and a hall is approximately 60 thousand dollars. 

  • The price of an apartment with 2 rooms and one hall is approximately $85 thousand. 

  • An apartment consisting of 3 rooms of different sizes and one hall amounts to approximately $140,000.

 

Factors that affect real estate prices in Istanbul

Type of property:

 It is known that the price of the property varies according to its type, for example, shops have their own prices, as well as houses, apartments, and land as well.

The extent of the readiness of the property: 

the condition of the property affects its price, and it determines the rise or fall of its price, for example: if the property is still under preparation, its price is completely different from the ready-made property in everything, as when time passes and some steps are taken in preparing the property, this helps a lot in increasing the price.

The location of the property and its view: 

  • The location of the property and the location it overlooks also affect its price. If the distance between the location of the property and the Turkish states or some cities where commercial places are available, this leads to an increase in the price of the property compared to properties in other regions. 

  • It is known that most of the places in Turkey have elegant and beautiful views and this feature helps to increase the price of real estate. There are some tourists who want to own a property overlooking the bridge known as the Bosphorus Bridge, and this requires a large amount of money.

Property area:

There are some laws that real estate experts use, which is the decrease in the area of ​​​​the property, the smaller the area of ​​​​the property, the higher its price, and vice versa.

Interior and exterior finishes of the property:

There is a major factor that affects the price of the property, which is the shape of the property's design and the colors chosen in it, as well as the type of materials used in building and finishing the property. Also, choosing the home's furniture from the inside and ways to coordinate the furniture, helps in the price difference, with regard to the real estate that is sold with furniture and all the needs of the inhabitant.

Property condition:

There are some properties that have been inhabited before, and there are also completely new properties that no one owns. This factor affects the price and evaluation of the property. It is certain that the property used before becomes cheaper in many stages than the new property.

Istanbul is the best city to live in Turkey

  • Istanbul is one of the best cities to buy a place to live and invest in, as it helps in making a lot of profits. 

  • It occupies the first place in investment and is the resort to which many who want to choose a city suitable for work as well as investment if it is a real estate investment or a commercial investment, and there are many factories next to some commercial cities that are concentrated near it.

  • Istanbul is originally a tourist city and tourists come to it from all countries of the world because of its natural landscapes that attract tourists, in addition to the availability of some tourist attractions that have existed for a long time. 

  • The location in which Istanbul is concentrated helps the success of all the projects established in it and attracts foreigners, which leads to obtaining many profits within a short period of time.

  • The price of apartments rises a lot in Istanbul due to the presence of all the social and health services that the resident needs, and there are several medical cities, the largest of which is located in the Basak district.

  •  Istanbul also has the largest schools and hospitals, all of which are close to the living space.

Other cities to live in Turkey

Other preferred cities to live in Turkey are the following vital cities:

The city of Ankara: 

  • The city of Ankara has many advantages that cause the prices of apartments and real estate in general to rise, and the most important of these features is that it is the capital of Turkey, and the city of Ankara has also been recognized as one of the best cities in Turkey in terms of living places and others.

  • The city of Ankara has most of the government services that any citizen needs, besides the foreign embassy and some hospitals. Therefore, it is considered an important city, and most of the residents of Turkey go to it to pursue their interests.

  • It also contains low prices for real estate compared to the prices set for Istanbul, so living expenses become lower than other cities.

Konya City:

  • It is known that Konya is the capital of the Seljuks, and this city is considered one of the most important Islamic cities because it contains the person who has a high status in Turkey, the tomb of Jalal al-Din. 

  • This city provides some apartments at very low prices to help families who do not have a large income, and there is an advantage in Konya, which is special for education, which is that it contains a large number of public schools.

  • One of the most famous features of Konya is its agricultural scenery. It is also famous for its agriculture and the production of the best agricultural crops. It has all the means of transportation to move from one place to another.

Bursa City:

  • The city of Bursa is interested in the production of natural silk as well as textiles. It is famous for producing the best types of silk in Turkey. It is also able to manufacture some cars, so it attracts workers to it and provides job opportunities for many of its residents. 

  • It has all means of transportation besides the water ferry. This city has high real estate prices due to the presence of many different industries and features, and it also belongs to the chain of the best cities in Turkey.

Turkish economy in numbers

Real estate prices in Istanbul are related to the reality of the economy in Turkey and the developments accompanying the economic reality in the country. 

  • During the recent period, there was a significant rise in record jumps, which was achieved by the Turkish economy, and this economy reached first place in the Islamic economies.

  • Turkey is one of the most important countries that is making a great effort in real estate development, so it has been classified as the strongest country in the world's economies. 

  • Foreign investments broke records in Turkey, where the profits they obtained through real estate reached about 11 billion dollars, and that was specified in the year 2017.

  • Many foreign companies have also been established to invest in Turkey, and the number of companies has reached nearly 60 thousand companies in one year.

  • All the achievements that Turkey has achieved through foreign investment in real estate have helped Turkey's belonging to the European Union and the establishment of some other interests away from real estate investment. 

  • Also, Turkey's privileged location, which lies between Asia and Europe, helps attract Arabs to invest in Turkey.


 

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