Is one of the most common and repeated questions in the Turkish real estate market.
We are going to try to answer this question in this article.
Hou much does an apartment cost in Istanbul?
The question of apartment prices in Istanbul is really hard to answer with one direct answer.
To answer the question of much does an apartment cost in Istanbul? we need to know more about Istanbul.
Why buy an apartment in Istanbul?
There are many good reasons to buy an apartment in Istanbul that can be summed up in the following points.
- The prices of apartments in Istanbul are low in comparison with properties in other countries.
- Istanbul provides a wide variation of properties that are suitable for residency, investment, and both.
- Istanbul has a central geographical and economic location that adds value to any kind of investment.
- Properties in Istanbul have a high rental yield with an average of 6-10%.
- Many international companies chose Turkey to be their headquarters because of the investment value.
- Mega infrastructure projects have a direct and positive impact on the economy.
The cost of an apartment in Istanbul
The figure for the cost of an apartment in Istanbul cannot be stated without listing the different types of apartments in the city.
There are many factors that determine the cost of an apartment in Istanbul, these factors are:
- Location: Istanbul district covers an area of 5,343 km², a city of this size provides different locations for properties.
- View: due to its size Istanbul has a variety of landscapes and geographical diversity.
- Demographics: as a central city Istanbul attracts people from all over Turkey as well as other countries, thus the high rental yield.
One of the factors that attract foreigners to buy properties in Istanbul is the low cost of living.
In addition, Jobs are also available to a very wide range of expertise.
Besides the high ranking of universities and the strong educational system, which is very affordable to many in comparison to other countries.
The Turkish passport through property investment is one of the easiest and cheapest citizenship programs around the world.
As well as the strong health care system that helped Turkey to be among the first countries who win the battle against the spread of COVID19.
The cost of apartments in Istanbul according to the above-mentioned factors can start from 50 thousand dollars.
The size of the apartment also plays a major factor in determining the cost.
For example, you can an apartment with a size of 90 m2 in Esenyurt for around 86,700 us dollars
But an apartment of 90 m2 in Maslak will cost around 127,280 us dollars.
We would advise that you start your search for an apartment in Istanbul according to your needs.
Communicating your exact needs with your real estate consultant could achieve the best deal for you.
Our consultants will be able, due to their deep knowledge and experience in the real estate market in Istanbul, to direct you to the right project that meets all of your needs.