Prices of Apartments in Istanbul 2022 - 2023

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Prices of Apartments in Istanbul 2022 - 2023

A comprehensive report on the prices of apartments in Istanbul and the factors affecting them

Prices of Apartments in Istanbul 2022 - 2023
22nd August 2022
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Apartments in Istanbul are the basis of the real estate investment process , and it is the first destination for investors who are looking for great success in their investment business, so apartments in Istanbul are of great importance among their properties, especially after the diversity that occurred in the prices of apartments in this region, in addition to the great features they enjoy, which makes them at the top of the list of the most sought-after properties in the real estate market in the region, which in turn led to the increase of this market and made it rich and prosperous.

Prices of apartments in Istanbul

The prices of apartments in Istanbul in Turkey are variable and differ from one apartment to another, and after the great demand that these apartments are witnessing in the current year, as well as the large numbers that are expected to come to invest in Istanbul apartments in the next year 2023, we must clarify some points related to their prices and simplify Some important ideas that come to mind of everyone who wants to inquire about apartment prices in Istanbul.


Factors that play a role in determining the price of an apartment

There are several factors that characterize each of the Istanbul apartments and play a role in determining the price of this apartment and make identifying prices easy for those responsible for the real estate market in the region, and these factors include:

-geographical factors

Geographical factors are the visual factors that affect the prices of apartments in Istanbul, either positively or negatively, and they are called geographical, meaning everything that surrounds the apartment on the geographical map. These geographical factors include:


The location of the apartment plays an important role in determining its price, and it is the most important geographical factor affecting it. The location has a positive impact on the price of the apartment when it is in an important area of ​​a touristic nature and has great attractiveness and is very popular with people such as Sultanahmet and the Bosphorus area or simply the areas located in the European side of Istanbul, where the apartments in those areas have an excellent location, especially those located near tourist attractions such as palaces and castles in Sultanahmet, as well as mosques that attract families related to the Islamic religion to the neighboring apartments, but negatively, there are some apartments located in remote areas From the city of Istanbul or far from its service centers or tourist areas, so the location of the apartment has a major role in determining its price, especially in the famous areas of Istanbul.


-The view

As is the case in the location of the apartment here, we find that a large role lies with the view of the apartment so that the apartment is desirable and in great demand and therefore of a high price when this apartment has a beautiful view, and the view is beautiful when it is close to a tourist landmark or a historical place in the area, such as when the apartment overlooks the Bosphorus, the Marmara Sea, or the famous separator between the Asian and European parts of Istanbul.

Therefore, you will find a great demand for these apartments, especially those overlooking the historical monuments of Ataturk or the museums and castles in Başakşehir. This means that the apartments with a view are less important and far from the tourist atmosphere in Istanbul has a lower price, and from here we cite the great role that the view plays in raising the prices of apartments and improving them in the region.


-Designs and decorations

Urban designs and exterior decorations are also considered geographical factors because they are visible to people and therefore have a role in determining the price of the apartment, so that the apartment with beautiful designs and decor is more expensive than the apartment with ordinary designs, and beautiful designs are meant by designs inspired by ancient civilizations and artifacts found in museums of Istanbul, as well as the decorations taken from the doors and walls of palaces, castles, mosques and monuments found in Istanbul's historical landmarks, which make apartments similar in design among the most expensive apartments in the region.


-Economic factors

What is meant by economic factors are the factors that the investor cannot see or touch, but rather they are the factors that he can sense and understand by living in the area surrounding the apartment, and therefore he must know the differences between the economic and non-economic areas, the economic areas are full of service centers that surround the apartments. In these areas, the employee finds an apartment close to his place of work, meaning that he combines work and the apartment in one place so that he is able to work in any of the economic work establishments in the region, as well as easy to find work in it for any member of the family and this is what this means. The apartments in these areas are at a more expensive price and these apartments are located in the center of Istanbul around the government centers in it. As for the areas far from the city center, the search for work is difficult, especially when looking for jobs in state centers and not private businesses, so economic factors have a big role in determining the price of the apartment and making it in the list of the most expensive apartments in Turkey.


-commercial factors

The same applies to commercial factors, as they are factors surrounding the apartment, and they also mean the infrastructure surrounding the apartments. The commercial factors are the markets, the buying and selling centers and the malls that are widely spread in the city of Istanbul. The apartment that is located next to a commercial market or a mall is more expensive and larger than the apartment in which it is located there is no market near it and its residents are forced to go to a far place in order to shop and buy the necessary necessities, goods and merchandise required for the living life in Istanbul.


-governmental factors

The Turkish government plays a major role in determining the price of the apartment and is responsible for this according to decisions and regulations that the owners of these apartments are bound by. The government can raise the price of apartments in a certain area if it takes care of this area and serves it well by setting up new projects in this area or by building service centers in it such as health centers, hospitals, mini-medical centers or educational centers such as universities, institutes, and public and private schools, which in turn plays a role in developing this region which in turn raises the prices of apartments surrounding these development centers and attracts attention from all sides and even makes a boom in Turkey and in the city Istanbul in particular. Therefore, the government's role is very important in determining the prices of apartments, developing them and the surrounding infrastructure, and making them the best real estate in Turkey.


How to find a cheap apartment in Istanbul

Finding cheap apartments with good features is possible in Istanbul, but in order for this process to be done well and successfully, several steps must be followed, and it must be implemented carefully after reading its data. Then any investor or anyone else looking for a cheap apartment can buy it or make a real estate investment in it. These steps are:

-Putting the average features in mind

It is the primitive and first stage when searching for a cheap apartment in the city of Istanbul, and from saying cheap, medium features must be placed for the apartment before the search process, and the investor must bear in mind these features, which are represented by a medium-importance location, not close to the city center and the famous areas or far from it, but between the two. The same applies to the views, designs, drawings and other specifications that an apartment in Istanbul can have, so if these average features are placed in the search engine, the investor guarantees that he will find a cheap apartment in Istanbul through which he can live and settle in Turkey and practice life in its suburbs.


-Search by offers on ready-made apartments

In order for the investor to ensure finding a cheap apartment, he must follow the real estate exhibits that are on ready-made and known apartments that can be seen and visited. Follow up on all offers on apartments in Istanbul, and some of these offers include a significant decrease in price due to the apartment owner being forced to sell and thus the investor's ability to find apartments in Istanbul at cheap prices.


-Search by offers for apartments that are not ready

These offers are somewhat similar to the offers on ready-made apartments, but in this process, the apartments are not ready, that is, these apartments can only be seen on the plans, and these offers are submitted by large investors or by the Turkish government so that it establishes new housing projects that contain apartments and By selling these apartments before they are built at cheaper prices, and the process is similar to financing the process of building these apartments, as some apartments are offered only at a low price in order to finance the project and pay the debts resulting from it. Therefore, the investor must look for projects updated by the Turkish government or by Large investors or owners of capital in order to buy a cheap apartment in this project, but he has to wait until the completion of the project until this apartment is invested.


-Avoid installments in the purchase process

In the city of Istanbul, there is the sale of apartments in installments, but this results in a rise in the price of these apartments, so the investor has to stay away from installments and search for apartments in a traditional payment method (cash), otherwise the investor will have to pay extra money, and this process puts him in the traps of fraud, deception and real estate fraud.


-To have experience and real estate acumen

The element of experience is one of the most important elements that must be available to the investor or the person who is looking for a cheap apartment for sale in the city of Istanbul. The expert in real estate investment is a guide to apartments in Istanbul and knows how to find cheap apartments and knows how to find them. He is also aware of the prices of apartments in each area of Istanbul and knows the cheap and the expensive.


Apartment prices in Istanbul in 2024

In the current year, apartments in Istanbul have witnessed an increase in their prices, and studies and expectations have come that these prices will rise more when the next year 2023 comes. These studies were based on real estate and proved that there are many factors that will make these apartments one of the most expensive apartments because of the features that will be added to them, and among these factors:

-Urban development in Istanbul apartments

By the year 2023, it is expected that the apartments in Istanbul will have a beautiful and sophisticated urban character, which is assumed by the engineering offices responsible for these designs, which will mimic the designs of apartments in developed countries. The designs include the interior and exterior decoration of the apartment and the regular distribution of rooms and the large area in them, which contributes to raising the price of apartments in the real estate market in the region, which in turn contributes to placing Istanbul apartments in the category of luxury apartments in Turkey and makes their prices mimic the prices of villas in other regions.


-Attention that Istanbul Apartments enjoy

Istanbul is the economic capital of Turkey, so it receives great attention from the Turkish government, especially the apartments in it. This interest comes in the form of continuous financial support in order to develop the infrastructure of the apartments and make them at the top of the list of luxury apartments in Turkey. This was evident in the future plans of the city of Istanbul, where the Turkish government has allocated development programs to study how to make these apartments of a European character with high specifications and prices with the coming of the new year, which is expected to be a year of development and prosperity for the real estate market for apartments in the region.


-Modern and residential projects in Istanbul

Istanbul is a center for modern projects that aim to develop living life in this region, and these projects include the New Istanbul Water Canal project, which is expected to provide job opportunities for a large proportion of Istanbul residents, as well as modern housing projects, which in turn provide job opportunities for construction groups and construction project owners as well as commercial projects and public facilities that provide jobs for a large number of Istanbul citizens, as well as allow them to open new business facilities, which in turn affects the economic and commercial movement in the region.


-Tourists heading to Istanbul

The Turkish government is very interested in the tourism aspect of Istanbul, especially since this city is a large tourist destination in which all the elements of tourism perfection are available in terms of tourism components, the appropriate environment and guiding staff ready to receive tourists from all sides, and this in turn affects the prices of apartments in the region, which will witness an increase by 2023.


-Investors are heading to Istanbul apartments

It is not only the tourists whose numbers will increase in Istanbul, but so will the investors after all the advantages that the city apartments will enjoy, which is a center of attraction for investors, especially foreigners, who will be an important part of the population of Istanbul in the future.


-Increase of the chances of success in Istanbul apartments

With the advent of the new year and the new features on Istanbul apartments, the chances of success in real estate investment in this area will increase, and there are many options available to the process of buying and selling apartments and profiting from them, which will ensure the investor success in Istanbul apartments and thus will contribute to raising their prices by a limited percentage and make the demand for them great.

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