Factors that determine the prices of apartments in Istanbul

Factors that determine the prices of apartments in Istanbul

Today, Turkey has become a destination for a large number of Arab and foreign investors who come to it from various countries around the world to invest, especially in the real estate field, as the city of Istanbul occupies an important place in the Turkish real estate market, as it is the first tourist interface that most tourists and foreign investors go to for several reasons. Its geographical location and its tourist attractions on the one hand, and the urban development of the real estate scattered there on the other.

The variety of apartments in Istanbul

The city of Istanbul has a huge real estate market that is dominated by movement and activity compared to the movement of the Turkish real estate market in other cities. The Istanbul market is characterized by diversity and the ability to meet different desires. As an investor, if you want to invest in real estate in this city, you can:

Buy real estate.

- You can find old apartments scattered in the neighborhoods.

-You can buy apartments with a modern urban structure.

- You can buy huge villas with modern designs.

 You can buy smart homes.

 You can buy real estate for business.

 And other real estate that meets most of the requirements of investors, foreigners and even Turks

What distinguishes the Istanbul real estate market is the rental movement, as it is possible to obtain residential apartments for rent. It has been noted the spread of studio apartments that serve most students and young people, as they are apartments designed for rent, as well as the presence of commercial and residential complexes scattered in Istanbul in abundant numbers.

Apartment prices in Istanbul

Istanbul is the economic capital of Turkey, with a population of approximately 16 million people. Istanbul is located in the northwestern part of Turkey. Its geographical location, population density, and tourist attractions make it a destination for many investors for real estate investment, which makes its real estate market index high. We find that there is a great demand for real estate by outside investors on the one hand and native citizens on the other…Which led to an increase in prices, especially the prices of apartments of old and modern residential types and the prices of smart homes and villas, but there is no doubt that each area of ??Istanbul has its own privacy, in terms of its types of real estate, features, services, and transportation, and specifications and features differ between the European and Asian side, so if If you want to buy an apartment in Istanbul, you have to make sure to see every aspect of the area in which you intend to buy.

If we cannot set a specific and fixed price for the apartments in this city, the price of the property, especially the apartments, is affected by a number of factors that determine the price of the property in the Istanbul real estate market

The relationship of the specifications of the apartment to the price

This factor is one of the most important factors that affect and determine the general price of the apartment. The apartment of the old building differs in price from the modern apartment, despite the equality of space. We find modern apartments more expensive than the old buildings.

 The location of the apartment within the residential building also has an impact. The apartments on the ground floors differ in price from those on the higher floors. Some buyers prefer the upper floors, as they provide them with a private and quiet lifestyle away from the noise that the lower floors enjoy.

 The extent of service provided to the apartment of modern services and equipment related to lighting, sanitation, internet services, television broadcasting, modern gates and other services that achieve the concept of a smart home.

The urban design and methods of choosing decorations for the apartment is also a factor in determining the price.

 The space for this apartment also has a big role in determining the price. The space means the number of rooms, bathrooms, the balcony, the divisions of this apartment, the materials used in construction, finishing and cladding also play a role in determining its price.

Hence, we can say that the specifications of the apartment in itself is an important factor in determining its price in the Turkish real estate market.

The relationship of the location of apartments in Istanbul to their prices:

 The prices of apartments within Istanbul vary according to the location in which it is located. An apartment in the areas located in the city center is high compared to other suburban areas.

- Also close to or far from the tourist places.

- Aesthetic looks.

- The apartment's proximity to public transportation, bus stations, tunnels and highways, which makes it the preferred apartment for residents when choosing a property to buy or rent. This feature gives the property a higher price than if it is relatively far from public transportation lines.

- Proximity and distance from hospitals, schools, universities and health centers.

- Being near huge investment projects in Istanbul (Istanbul New Airport, Istanbul Water Canal), bridges and mega malls, where these apartments are witnessing a clear increase in price than others.

- The view that the apartment enjoys, such as being within the areas overlooking the sea, here the price is higher than that found in other residential communities.

Hence, we can say that apartments that are located in a vital location that meets all the needs and requirements, located in the city center near government and service centers, are more expensive than apartments located in the suburbs or remote places.

Important information about apartments in Istanbul:

There are many real estate apartments of all kinds and places in Istanbul for sale and purchase, but the price of the apartment is different from studio apartments and different from smart homes.

 However, for each of these types, there is a different movement of demands in the market. We notice that a number of investors wishing to purchase real estate for commercial purposes are buying studio apartments and renting them to students and workers, while the apartments that were built and finished with high-quality materials and from the best international materials are required for families and people who want to settle, while smart homes are a requirement of a certain category of people who want to use technology to obtain comfort.

Hence, we say that despite the rise in prices compared to other real estate markets around the world, the Istanbul real estate market is able to provide most of the requirements of investors, foreigners and others. This diversity is a wonderful feature that you cannot find anywhere else in the world.