Factors affecting real estate prices in Istanbul 2022

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Factors affecting real estate prices in Istanbul 2022

All about real estate prices in Istanbul for 2022

Factors affecting real estate prices in Istanbul 2022
09th October 2022
  • 1857

If you are a fan of owning real estate in Istanbul, there are many aspects that you should know, the most important of which is (prices). Are real estate prices in Istanbul high or appropriate? Is it only for the rich? What are the most expensive and cheapest areas in it? What are the factors affecting the prices of apartments there? Many questions about this topic we talk about at Binaa company through this article.

 

What affects real estate prices in Istanbul?

There are many factors that have an impact on real estate prices in Istanbul that you must take into consideration when you are in the process of implementing this step and the reason behind this so that you do not pay the money in the wrong place or be subject to real estate fraud. Here are some details about this matter:

- The population of the city is increasing rapidly. In the past ten years, the population of Istanbul has grown by more than two million people and this influx of people leads to an increase in the demand for housing, and as a result, prices are rising.

- The Turkish economy is strong and growing and this attracts foreign investors to Istanbul, who are buying real estate and driving up prices.

- Istanbul is a world-class city that has a lot to offer to the residents and this makes its location, culture, history and tourist attractions an attractive place to live, further increasing the demand and prices.

- Limited Land Supply Istanbul is a large city with a limited supply of land available for development and the scarcity of land has led to high prices.

- The closer the house is to the city center, seashore or popular areas, the more expensive the house will be.

- A bigger house will cost more than a smaller house.

- Homes overlooking the Bosphorus or the sea will be more expensive than others.

- Newly built or decorated homes will cost more.

- Older homes usually cost less than newer homes.

- Houses in good condition, duplexes or apartments in luxury buildings will be more expensive.

 

The cheapest real estate prices in Istanbul

Istanbul is one of the most expensive cities in Turkey, but there are still some cheaper areas to live in. The most important of these areas and neighborhoods are:

Esenlar: A working class neighborhood that is undergoing improvement and is well connected to public transportation and contains various service and recreational facilities that meet the needs of the residents.

Beylikduzu: A new neighborhood on the outskirts of Istanbul is growing rapidly and has good transportation links and a lot of new projects.

 Fatih: An old neighborhood in the center of Istanbul that is revitalized and has a lot of historical sites and is close to many amenities.

 

The most expensive real estate prices in Istanbul

The most expensive real estate in Istanbul is located in the neighborhoods of Beyoglu, Sisli, and Mecidiyekoy. These neighborhoods are home to the finest real estate and apartments in that city and popular tourist spots including Istiklal Street and Taksim Square. Beyoglu neighborhood is also home to many luxury hotels, restaurants and nightclubs in Istanbul. Sisli is a major business area, Mecidiyeköy is home to several embassies.

 

How will real estate prices in Istanbul be in the future?

This is a difficult question to answer, as real estate prices can be affected by a number of factors, including economic conditions, population growth, and demand. However, some experts believe that real estate prices in Istanbul will continue to rise in the future, as the city becomes more and more popular among local and international buyers.

 

 

Tips when buying real estate in Istanbul

There are some tips and advice that you must take into consideration when buying a property in that city, so that some parts of things are clear to you and to avoid making the wrong choice, including the following:

- The city is divided into two main parts: the European side and the Asian side, and each side has its own unique characteristics.

- The European side is home to most of the city's historical attractions, as well as the business district and this is where you will find most of the city's luxury hotels and restaurants. If you are looking for a high-end lifestyle, this is the side for you.

- Prices on the European side are generally higher than on the Asian side.

- The Asian side is less crowded, quieter and more exclusive.

- Navigating the real estate market in Istanbul can be difficult, so it is important to do your research before making any decisions so work with a reputable real estate agent who knows the city well and can help you find the right property at the right price.

- It is easy to get caught up in the topic of buying a property in Istanbul as it is really interesting and attention-grabbing, but it is important to stay within your budget and make sure you have a clear idea of ​​how much you can spend before you start your search as this will help you narrow down your options and avoid overspending.

- You'll want to focus your search on areas like Beyoglu, Sisli, and Bakirkoy as these central neighborhoods are popular with expats and offer a wide range of housing options.

 

Advantages of buying real estate in Istanbul by using the agents of Binaa Real Estate Company

- The company provides comprehensive services to its clients from start to finish, as it takes care of all stages of investment, starting from searching for the best property according to the client's request and ending with obtaining all the papers and legal permits related to that, leading to ownership.

- The company has a large team of real estate experts who have experience and knowledge in the field and are able to provide guidance and advice to clients throughout the investment process.

- The company has a wide network of relationships with banks and financial institutions that enables it to provide its clients with easy payment options and attractive financing packages.

- The company has a strong marketing team working to promote and market properties through various channels such as social media, print media and electronic media.

- The company provides after-sales services to its customers even after the completion of their investment, as it helps them in that.

 

Related articles :
The guide of real estate investment in Turkey 2022
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Luxury apartments for sale in Istanbul
How to obtain a Turkish passport?
The journey of looking for apartments for sale in Istanbul
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How to obtain Turkish citizenship by real estate investment?
Steps to buying an apartment in Istanbul
Tourist Residency and Real Estate Residency in Turkey
The best real estate investment areas in Istanbul
#Binaa_investment    #real_estate   #Turkish_citizenship
#Istanbul_apartments    #real_estate_investment

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