Owning a real estate in Istanbul is the dream of many. Istanbul is Turkey's largest city with its population and economy. With a population of more than 15 million, it is more crowded than 131 countries in the world. It is also known as the 34th largest economy in the world. We can say that the most important detail that makes Istanbul attractive and makes people want to live is its historical and geographical beauties. Istanbul with its unique Bosphorus view, deep-rooted history and cosmopolitan structure; An important value for the world. Especially, The Bosphorus separates Istanbul from many world capitals. It is a bi-continental city with districts in both Asia and Europe. There are 9 large and small islands around Istanbul. There is the opportunity to settle and visit 4 of these islands with ferry services. Due to these features, Istanbul also attracts the attention of those who want to invest in real estate with its affordable real estate prices.
Istanbul is one of the world cities where foreigners want to live as well as locals. Buying real estate in Istanbul, which connects Asia and Europe and is at the center of tourism, education, business, economy and commercial activities, is considered a promising investment. When it comes to long-term investments, Istanbul is a city that is in demand among the real estate markets in the world. Each of the 39 districts in Istanbul has different real estate prices. There can be serious price differences between central districts and newly established and developing districts. Criteria such as whether the property is in Asia or Europe, whether it is close to public transportation lines, and its distance from airports, health facilities, schools, shopping centers affect the average real estate prices in Istanbul. On the other hand, aspects such as the square meter of the residences, the number of rooms, the age of the building, swimming pool, sauna, sports field, landscaped garden and view also play a role in determining the real estate prices.
Real Estate Investment Areas and Average Prices in Istanbul
As of the end of October 2021, the unit price per square meter in Istanbul has been calculated as 5.092 Turkish Lira. This figure also explains the average real estate prices in Istanbul. The depreciation period of the houses in Istanbul (return of investment), has been determined as 22 years. Istanbul is ideal for those who want to make a long-term real estate investment. Average real estate prices in Istanbul have increased by 3.39% in the last month and by 28.95% in a year. When this figure is taken as a criterion for the last 2 years, it is an increase of 53.55%, and an increase of 48.27% in the last 4 years. When we look at the districts of Istanbul that gained the most value; As of the end of October 2021, Beyoglu, Adalar, Beykoz, Bakirkoy and Besiktas districts are at the top of the list. Esenyurt, Sancaktepe, Sultangazi, Beylikduzu and Cekmekoy are seen in the properties for sale that provide the fastest return when their return of investment periods are taken into account. Adalar, Beykoz, Bakirkoy, Besiktas and Beyoglu, which have long depreciation periods, can be recommended for those who want to make a longer-term real estate investment in Istanbul.
Real Estate Project in Istanbul, European Side
Average Housing Price in Istanbul
The average gross area of real estate for sale in Istanbul is 115 m². The average price calculated over this gross area is 585,580 ₺. Considering the minimum and maximum values of the unit prices, which vary according to the district, the amount per square meter varies between 2.651 ₺ and 14,887 ₺. If you want to buy a 100 m² property in Istanbul, its price will vary between 265,100 ₺ and 1,488,700 ₺. It is important in which region the property you buy is located in Istanbul. The unit price per square meter increases in districts where business and shopping centers are dense, easy access to schools and hospitals, and other parts of the city can be reached by Marmaray, metro, ferry and bus services. On the other hand, areas that are heavily visited by tourists and where historical and touristic places are located also have higher average prices. Especially in Sariyer and Besiktas, the prices of the properties for sale are more expensive compared average real estate prices in Istanbul.
Many mega projects are being implemented in Istanbul. You can choose between flats, residences or duplex residences. The regions close to Istanbul Airport, where flights are made to 323 different regions of the world, also have a rising trend in the housing market.
Residences in districts such as Besiktas, Sisli, Kadikoy, Basaksehir, Kucukcekmece and Kagithane, where you do not have to go far from your home to socialize; It has a profile that preserves the real estate value over time. Especially the newly built residences attract attention with their social facilities and security systems. For prestigious housing projects, you can examine the houses for sale in these districts.
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