In recent years, the Turkish government has worked to activate the foreign investment by providing regulations which help the investors to make things easy.
On the other hand, the Turkish government has given a big chance to the investors who are interested in the real estate market to get Turkish citizenship. Investing in real estate is always a successful and guaranteed investment that does not lead to any loss of capital and provides high profit returns annually.
In our long time of working in the property market in Turkey, we received a lot of questions about the reasons for the property price difference in Istanbul. In this context we are going to explain the reasons which make this difference.
What Are The Factors That Determine Property Prices In Turkey?
When you decide to invest your money in the property market and want to buy a property in Turkey, you must select the most suitable city for investment.
Investment options vary, as each city in Turkey has many qualifications between tourism, commerce and industry.
The tourist cities in Turkey attract businessmen who want to buy a property in Turkey to spend their holidays and annual vacations. On other hand, the large cities like Istanbul which is considered the economic capital of Turkey, attracted investors to buy properties in Istanbul.
Apartment prices in Istanbul also vary according to several main factors.
The location of the apartment plays a key role in determining its price. Whenever the location is close to the city center the price of the apartment will rise. For example, the prices of apartments in Sisli and Fatih areas are higher than other areas such as Beylikdüzü and Bahçeşehir.
Services available in the area where you want to buy a property, such as universities, hospitals, schools, shopping centers, parks, government service buildings, and public transportation. It is one of the most important factors that contribute to determining the price of the property.
It is worth noting, that the specifications of the apartment in terms of area, view, height of the floor, number of rooms, number of bathrooms, number of balconies, is it in a separate building or a residential compound, age of construction. “New, old, under construction” type of cladding and its quality, all of these things contribute to the varying prices of houses in Istanbul.
Some construction companies have recently built hotel apartments and home offices. This kind of apartment is a safe investment for those who want to buy apartments in Istanbul for the purpose of investment.
The home office apartments in Istanbul are characterized by strategic locations, as they are often in commercial and central areas, which contributes to the success of any business project that the investor desires. At the same time, the prices of these apartments are relatively high compared to residential apartments. But it provides very high annual profitability returns.
To find out more about properties prices in Istanbul, contact Homes and Beyond team to get your free consultation from our team of specialist consultants in the Turkish real estate market, and to help you choose the best property in one of our projects that cover all locations in Istanbul.