Reasons for the different prices of apartments in Istanbul

Updated: Aug 17

Real estate in Turkey is consider cheaper than the rest of the European countries, this has encouraged many foreign and Arab investors to own real estate in Turkey in addition to that the Turkish state granting Turkish citizenship to real estate owners that amount to more than 250 thousand US dollars.

The price of real estate in Istanbul varies according to multiple reasons such as, the type of property, the size of the property, the nature of the building of the property, and the location of the property has great importance in determining the value of the property such as the property’s proximity to the city center, its proximity to the sea, or if there is basic services such as schools and Universities and public transportation in addition to shopping centers and parks.

The prices of real estate also differ from one city to another. In Trabzon, Sakarya and Samsun, the prices are very suitable for those whose budget does not exceed 35 thousand dollars.

In Istanbul, the prices are higher due to the commercial and tourist importance of the city, and it starts from 30,000 for small apartments in humble areas, and for good it starts from sixty thousand, with the need to take care against fraud, , Which requires going to reliable companies and checking official papers from government agencies or asking trusted experts.

Among the most important reasons for the difference in real estate prices in Istanbul:

Property type

The type of apartment or real estate plays an important role in its price, where the details and specifications of the apartment are considered one of the most important reasons for the high or low price of it. The apartments that are located within a building, or a residential complex, differ in value from those apartments that are not located within the complexes, due to the services in it (such as: protection, security and recreation such swimming pools, gyms, green spaces and car parking), Or a separate house or villa whose prices differ from each other , in addition to the size of the apartment, the number of rooms, balconies, the number of bedrooms, bathrooms, floor number and the side that the apartment overlooks. The apartments on the ground floors differ in price from the apartments on the high floors and buildings that have elevators its price varies, all of these factors play a big role in the high price of the apartment.

The condition of the property or the construction of the property

The condition of the property greatly affects with its price, so if the property is old and needs a process of renewal and repair and is used for a long time without repair, its price will decrease Because the repair and renovation process costs a lot of money and time, Also, apartments that have high humidity and do not reach to it the sunlight have lower prices than apartments that enter to it the sunlight.

In addition to that the age of the building plays a role in determining its price, heating system, water and electricity installations.

Also, high-quality apartments and various and luxurious decorations in addition to building materials such as marble, alabaster and ceiling decorations raise the price of the property.

Property location

The location of the apartment has an important role in determining its price ,its proximity to the city center and the availability of basic services such as schools, hospitals, universities and shopping centers in addition to its proximity to historical and archaeological areas or its proximity to the sea coast where the price of the meter in the city center differs a lot from its price in the outskirts of the city .

Also, the proximity of the apartment from modern transportation lines has a role in determining its price such as apartments that are located in an area where there is a metro station, or a metro bus , or a tram station and its prices higher than apartments that are located far from these stations.

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