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    What is the Average Property Prices in Istanbul?

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    1 minute, 49 seconds Read

    Istanbul, the largest city in Turkey, is a hub for real estate investment. The city’s unique location where Europe and Asia meet, its rich culture and history, and its growing economy make it an attractive option for property buyers. However, before investing in Istanbul’s real estate market, it is essential to have an idea of the average property prices in the city. In this blog post, we will discuss What is the average property prices in Istanbul?

    Average Property Prices in Istanbul

    The average property prices in Istanbul vary depending on the location, type of property, and the amenities it offers. According to the data from the Turkish Statistical Institute, in 2020, the average price per square meter for a property in Istanbul was around 7,000 Turkish Lira (TL) or 950 US Dollars (USD). However, this average price can significantly vary based on the district and the type of property.

    For instance, in the city center and the popular districts such as Besiktas, Sisli, and Beyoglu, the average price per square meter is much higher, ranging from 10,000 to 20,000 TL per square meter. On the other hand, in the suburbs of Istanbul, such as Esenyurt, Bahcesehir, and Beylikduzu, the average price per square meter is much more affordable, ranging from 3,500 to 7,000 TL per square meter.

    Factors Influencing Property Prices in Istanbul

    Several factors influence the property prices in Istanbul. One of the primary factors is the location of the property. The more central the location, the higher the price. Additionally, the proximity to transportation links, schools, hospitals, and other amenities can also impact the property prices.

    Another factor is the type of property. For instance, apartments with a view of the Bosphorus are more expensive than those without. Similarly, luxurious apartments with high-end amenities such as a swimming pool, gym, and parking lot tend to have a higher price tag.

    Conclusion

    In conclusion, the average property prices in Istanbul vary depending on several factors such as location, type of property, and amenities. However, as a general rule, the city center and the popular districts are more expensive than the suburbs. Hence, it is crucial to consider all these factors and do thorough research before investing in Istanbul’s real estate market.

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