Latest Updates on House Prices in Istanbul 2023
Last Updated: 2023-08-29
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Latest Updates on House Prices in Istanbul 2023
Each property and house in Türkiye has its price, which is determined depending on several factors and elements. In general, the prices of real estate in Türkiye, including houses or apartments, are affordable and even competitive, especially when compared to other similar properties in European countries. Thus, the competitive prices of houses and real estate in Türkiye are one of the most prominent specifications of real estate, as they increase its importance and attract investors from around the world of various nationalities.
In this article, Mersat Real Estate will discuss factors affecting the price of the property and the latest updates on house prices in Türkiye.
You will read in this article:
-Apartment prices in Istanbul 2022.
How Can the Price of a Property in Türkiye Be Set?
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Location:
The location of the apartment is one of the most important factors that raise its price, as the price of a house in Istanbul increases as the importance of the site increases and being near to public transport and major roads.
The neighborhood or the city in which the apartment is located also gives it some special and distinctive qualities that go into determining its price.
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View and Size:
The price of an apartment in Türkiye increases as its view expands and becomes more important, so of course the price of the apartment overlooking the Bosphorus Bridge will not be equal to one of the apartments located on the outskirts of Izmir, for example. Also, the more the size of the house increases, the more its value increases.
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Ready or Under-construction:
The price of a ready for habitation house in terms of furnishings, designs, electricity, water, telephone and internet is different from the price of the house that is still under construction. Of course, the price of the property or ready for habitation house will be more expensive, but in proportion to the degree of readiness and quality of the designs, furnishings and others.
Each of these two types of homes in Türkiye has its own specific features and characteristics, which in turn attract different segments of the population and investors.
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Cladding:
Each design, type of furnishings, colors, extensions and other equipment, even the materials used for construction have an impact on how the house is priced in Türkiye.
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Services:
On top of all these factors, the availability of services such as security, hygiene and certain facilities, such as a garden or swimming pool, are factors that have a fundamental impact on determining the level of luxury as well as the price of the property. Naturally, the more the facilities and services are there, the higher the price of the house in Türkiye.
Apartment Prices in Istanbul 2023
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Level I: an apartment in a luxury project such as "Emaar Square Residences" in Üsküdar.
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Level II: an apartment in an upscale project in a downtown area such as "Taksim Saray Project" in Taksim.
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Level III: an apartment in an exquisite project in an area far from the city centre like "the Luxury Oasis Project" in Başakşehir.
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Level IV: an apartment in an average residential neighborhood in the city centre such as "residential apartment in an average neighborhood" in Fatih.
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Level V: an apartment in an average residential neighborhood far from the city centre like "residential apartment in an average neighborhood" in Esenyurt.
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Level I
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Level II
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Level III
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Level IV
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Level V
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$5,000
Per square meter
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$3,000
Per square meter
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$1,750
Per square meter
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$1,000
Per square meter
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$500
Per square meter
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Purchasing an apartment or property in Türkiye gives investors many advantages, such as obtaining real estate resident permit or other privileges such as tax exemption, obtaining Turkish citizenship and enjoying the same rights as Turkish citizens. To get the best investment in terms of the feasibility of financial returns, just connect with the team of Mersat Real Estate and learn about the most important investment opportunities which our company offers in Türkiye.
As well as, you can benefit from the after-sale services of Mersat Real Estate, such as property management through renting out the property, making the necessary contracts, obtaining Turkish citizenship and conducting real estate transactions.
Edited by Mersat Real Estate Team ©
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