Istanbul apartments prices 2022 – 2023
Last Updated: 2023-10-17Istanbul apartments prices 2023 – 2024
Istanbul is Turkey's economic capital, its most important investment city, and a pioneer in real estate investment in the region. In this article, Mersat Real Estate will discuss the prices of apartments in Istanbul in 2023-2024, What are the things that had a negative or positive impact on it?
What are the most important factors that had an impact on the prices of apartments in Istanbul for the year 2023-2024?
1- Emergency conditions that occur in the country: Any circumstance that occurs in the country would affect the prices of apartments in Istanbul or other cities, either positively or negatively. Among the most important events that were found was the epidemiological crisis that swept the world, not only Turkey, which led to a somewhat stagnation of the Turkish economy and reduced the movement of foreign investment due to the restrictions that were imposed and the preventive and precautionary instructions. But we must draw attention to the fact that this crisis did not have a negative impact at all, as it was an appropriate opportunity for many who tried to seize it. It is also important to mention that Turkey was able to overcome this crisis with all the measures it took. It announced the return of life to normal and as a result, the prices of apartments in Istanbul witnessed a significant increase in their price.
2- Apartment specifications: The specifications of the apartment have a major role in the increase or decrease in its price, as it is what most draws the buyer’s attention when choosing an apartment, as the age of the building has a hand in determining its price, whether it is old or modern. The second point is which floor the apartment of the property occupies on the first floors or the last ones because the rule says that the higher the floors the lower the prices. The third point is whether the apartment's decoration is modern or traditional. And finally, what is the view of the apartment, is it a luxurious view of the sea or what? The more beautiful its view, the higher the price.
3- The location of the apartment within the city: The city of Istanbul is not limited to a few areas only, but is made up of a number of diverse areas between luxury, medium, popular, historical, etc., as the apartments in each area have a certain price.
4- Its proximity and distance from vital places and service centers: This matter also draws the attention of those who buy apartments, whether they are in Istanbul or in other Turkish cities. Are they located near public transportation lines, which allows transportation to and from them very easily. And what about shopping centers such as malls and commercial centers, are they far from it? Are there health units and medical centers nearby, and the same applies to the proximity of educational institutions. If they are located near the apartment, they increase their price and vice versa.
* In general, anything, no matter how small, affects in one way or another the price of the apartment, so all aspects must be taken into account without neglecting any of them. Certainly, there are other factors and details that affect real estate prices in Turkey, and there are weekly real estate offers offered by Mersat Real Estate Company that can be viewed by visiting our website mersat.net
Edited by Mersat Real Estate Team ©
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