Istanbul apartment prices 2023
Residential apartments in Istanbul and their price levels:
The types of residential buildings vary in Istanbul, between old traditional buildings and modern-style buildings. As well as between individual buildings and buildings within residential complexes, which leads to a discrepancy in the prices of apartments. In general, the building systems in Istanbul enjoy high technical standards. These regulations place all residential buildings, old and new, under the supervision of the municipality, in terms of the safety of the building and the availability of health conditions in it.
The buildings usually vary between their locations, sizes, and levels of luxury. There are buildings designed for people with limited income, and buildings designed for luxury seekers, and between these and those degrees. So that everyone can find in Istanbul the appropriate property or the appropriate residential house.
And in Istanbul, as in Turkey in general, there is no specific tariff for real estate prices, as it enjoys a free economy, in which prices are determined according to the supply and demand rule.
However, to ensure the integrity of real estate contracts and the non-occurrence of fraud or deception, the law stipulates that at every sale transaction, a report from a specialized and duly licensed company called the “real estate appraisal report” be among the papers required to register the contract in the real estate records. The report must include the following data:
1- Information about the resident company, its licenses and the certificate it obtained from the Banking Supervision and Regulatory Agency.
2- The engineering plan of the real estate and its net area, and how its area and divisions are distributed.
3- A copy of the title deed (Tapu) and information about the real estate registry of the deed.
4- Information about the location of the property, its surroundings, and means of transportation leading to it.
5- A statement of the property’s specifications, condition, date of establishment, and defects, if any.
6- A statement of the suitability of the drug for use in the required or designated destination.
7- Indicating the extent to which the building is capable of demolition and rebuilding.
8- Institutions, buildings, and service centers surrounding the real estate, such as schools, hospitals, health and recreational centers, places of worship, and others.
9- Legal papers: such as the building permit, its ability to transfer ownership easily, and the fact that the property is free from any legal problems or entailed rights for others.
10- Estimating the price of the property according to the prevailing prices at the time of organizing the report.
This report can be obtained before entering into a contract or purchase. And we had explained more details about the real estate appraisal report in a previous bulletin.
And noting the quality levels in the residential buildings and the areas in which they are located, we note that the Istanbul apartment prices are moderate to a large extent compared to similar conditions in European and American cities, and they may not have exceeded half of them.
What plays a major role in the moderation of Istanbul apartment prices in particular, and Turkey in general, is the interest of the municipalities in preparing new lands for construction and providing the necessary infrastructure for them, as well as the large number of major construction companies that have high efficiency, operating in Istanbul and competing with each other. , which provide a large supply to meet the demands. This is in addition to the many faculties of engineering and architecture that are concerned with building economics.
Statement of residential building prices for ownership or rent
Istanbul apartment prices may range between 50 thousand dollars and several million dollars . So that it allows very wide segments of those who want residence or real estate investment to find what suits them. The price difference is usually related to the location of each property, its area, and the type of its cladding.
Anyone who does not wish to own property can rent the residential house that suits him, as the homes offered for rent are always available in all areas of the city. And rental prices vary to suit everyone who wants to reside in Istanbul, as rents range between ($ 300 – $ 1000) according to the location and area of the property.
What follows is a brief and approximate overview of the levels of apartment prices in each of these areas. It is obvious that the highest levels of prices are in the main areas of the city, such as the Bosphorus Strait, which separates the European and Asian parts of the city, and the Sariyer area, which has an average price of an apartment. It has a million dollars, with a discrepancy between half a million and several million dollars.
Followed by the downtown area such as Taksim Square and Istiklal Street, where prices range between $300,000 and $1 million. Then the Al-Fateh area, which is predominantly commercial in nature, and its prices are close to that. Then there are some high-end residential neighborhoods, such as Sisli, Arnavutkoy, Basaksehir, and Zeytinburnu, in which apartment prices range between 400 and 700 thousand dollars.
This is followed by areas a little further from the city center, such as Avcilar, Esenyurt, and Beylikduzu Büyükçekmece, in which the average apartment price is approximately $150,000.
And there are popular areas with traditional housing in which prices fall to about 50 thousand dollars, especially as areas on the outskirts of the city.
It is clear that prices are increasing and rising at a faster rate in areas overlooking the sea, near public parks, or close to major projects such as Istanbul’s new airport, or public transportation (metro and metrobus).
Among the most important projects of Al-Hayat Company in Sariyer district :
Ramas Beyond 418 Project
Flamingo Zekeriyakoy 341 Project
The most important projects in Basaksehir district :
Mension Başakşehir 415 project
Artea Bahçeşehi 375 project
The most important projects in Beylikduzu district :
Empire Sea 414 Project
Deniz Park Evleri 387 Project
The most important projects in Esenyurt district :
Önay Life 393 Project
GEZGEN REZIDANS 337 project
City Center 420 project
The most important projects in Büyükçekmece district :
Boulevard Istanbul 408 project
Flamingo Panorama 413 project
Finally, Al-Hayat Company is at your service to provide all the assistance or advice you require in order to choose what suits you from the residential real estate, through a phone call or Email .
Email address: [email protected]
Phone: 00905383726510
