Factors affecting the prices of apartments in Istanbul

Factors affecting the prices of What are the factors that determine the price of a property in Istanbul in Istanbul

Factors affecting the prices of apartments in Istanbul
29-06-2021
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Last update 07-11-2023
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When you think to take the step of buying and owning property in Turkey, you must know exactly the dimensions of this step with its negatives and advantages, and when the investor chooses the city of Istanbul specifically, then he must know many details, the most important of which are affecting the prices of property in it and apartments, and thus the price is determined The real estate of an apartment without being scammed and defrauded, 

so what are these factors that any investor should be aware of?

 

The most important elements that have the power to determine the price of apartments in Turkey:

1- The area in which the apartment is located:

Istanbul is famous for its great real estate diversity, and it is also famous for its multiplicity of areas. There are luxury areas designed in high-level modernist styles to the point that those who watch them feel that they are dedicated to a certain social class, namely, money owners and businessmen, and there are medium areas that suit the majority of people, so the price of their real estate is not exorbitant to the point It is unbearable, and it is possible to find cheap apartments as well, but the buyer's task here is to determine his financial budget well before choosing the area because there is a large variation in the prices of apartments in each of them.

 

2- The view of the apartment:

This element also plays a very big role in determining any property or apartment price, especially since Istanbul has multiple unconventional or customary views. Some apartments overlook the Bosphorus, for example, and their prices are often very high in a way that does not suit most people, There are apartments with a luxurious view of the lush green spaces, and this view is often in residential complexes, so the focus should be placed on this matter, as every view has its price.

 

3- The proximity of the apartment to the service centers in the country:

This is a well-known matter. whenever the property be closed to a service center , its price goes up, such as being close to shopping mall, medical units, educational institutions, and transportation lines, or being close to highways, or being close to the new Istanbul airport or the vicinity of the water canal project The new ones, these details make their price high, and the farther away from them, the price will be lower. We must pay close attention to such signs, as they are essential in this matter.

 

4- If the property is old or new:

One of the remarkable things that we must pay attention to and take into consideration is the age of the apartment. Is it one of the newly established projects or has it existed for a long time? Automatically, the old ones will be less expensive because they are consumable and need maintenance, and their design will be old and not on modern models, and perhaps its internal infrastructure is not sufficiently robust, so you should pay attention to this aspect well so that the price of the apartment is accurately clear.

 

5- Crises, if any:

No country is free from problems and crises, whether economic, political, or otherwise, and recently Turkey, like any other country in the world, witnessed the epidemiological crisis that had a severe impact on the real estate sector. Indeed, it did not deteriorate as happened in other countries, but we cannot deny He was somewhat affected, and the epidemiological crisis was an obstacle in front of him that prevented him from progressing, but after the situation stabilized today and after offering more than one antidote against him, the real estate market resumed its activity once, and it is expected that by this year it will achieve revenues of seven billion US dollars.

 

6- Propety readiness:

Istanbul has many real estate options, there are ready-made properties and there is the property that is still under construction. The first option is more expensive than the second option. We must pay attention to this point well, and those who do not have enough money to pay for the property can choose one of the available instalment offers, but must He thinks then that the instalment property becomes more expensive because it entails several benefits, so it is good to be aware of these differences well before buying the apartment.

After reading these lines, we can discover that there are many things and details that have the authority to determine the price of the property in the Turkish city of Istanbul, and what was mentioned above applies to almost all other cities, so those who are about to take the step of real estate ownership in Turkey should pay attention to all That being said, they are golden rules.

 

 

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