THE REAL ESTATE MARKET IN TURKEY IS FULL OF SURPRISES
After the recent flourish in real estate market in Turkey, real estate and apartments prices are constantly changing due to the great demand for them from Turkish investors and foreigners. The prices of apartments differ from one city to another due to the requirements for living and life in this city, and one of the most beautiful cities suitable for investing apartments in Turkey is Istanbul, with its Asian and European sections.
MARKET MOVEMENT AND APARTMENT PRICES IN ISTANBUL:
Istanbul is the economic capital of Turkey, with a population of approximately 16 million people. It is located in the northwest 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 from foreign investors on the one hand and native citizens on the other, which led to an increase in prices, especially the prices of apartments of all kinds, old and modern, and the prices of smart homes and villas. But there is no doubt that each of Istanbul’s regions has its own peculiarity, in terms of its real estate types and features and its services and transportation, not alone its location on the European side of Istanbul or on the Asian side of it, and anywhere specifically. Therefore, we cannot determine 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.
FACTORS DETERMINING THE PRICES OF APARTMENTS IN ISTANBUL:
There are many factors that contribute to determining the prices of apartments in Istanbul, including:
APARTMENT LOCATION:
The location of the apartment plays an important role in determining its price, and that is based on the type of location in which the apartment is located, as an apartment with a good location attracts investors a lot and is always on demand, meaning that as soon as it is put for sale, offers come to it from all sides. Unlike an apartment with a regular location which receives less attention and less demand for purchase, so the investor always turns to apartments in beautiful locations, for example, in Istanbul you can find apartments with great locations as Basaksehir and other beautiful areas in the European section of Istanbul. Istanbul has natural tourism components that make it a great location attracting investors from all over the world to buy apartments in it, and this confirms that the location of the apartment has a major role in determining the price of apartments in Istanbul.
APARTMENT VIEW:
The investor is always looking for an apartment with a comfortable and beautiful view, and this view must have taken something from the location in which it is located, then the price of the apartment will be higher than the apartment with a good location but the view is normal, so choosing the view of the apartment is part of choosing the location of the apartment. If the apartment was with a beautiful location and a nicer view, the investors will go to it to invest in it, and large amounts of money will be paid for it compared to the regular apartments in terms of location and view.
APARTMENT DESIGN:
The investor is always looking for the distinctive things in the apartment that he/she wants to buy, especially in its external form, which is the front of the apartment. The apartments in Istanbul are characterized by the fact that most of them have a beautiful and attractive urban design, and this aspect was taken care of before starting the process of building apartments, so the apartment with beautiful urban design will be at a price higher than the apartment with the normal design, because the beautiful urban design costs more than the normal design and this will benefit the investor back.
APARTMENT SPACE:
The apartments in Istanbul are characterized by the fact that most of them have a large area, because most investors are attracted to large apartments, because of the good features they provide that allow a comfortable life for those who invest in one of these apartments. The price of any apartment differs from another apartment in terms of space factor. Its price is greater than the apartment whose space is smaller, and the size of the apartment is compared to the organized distribution of the apartment rooms and public facilities, so the organized distribution of rooms attracts more investors to the apartment and plays a role in determining its price.
WHY ARE THE PRICES OF APARTMENTS IN ISTANBUL SO HIGH?
Through the following paragraphs, you will learn about the main reasons that lead to the high prices of apartments in Istanbul:
INFRASTRUCTURE:
Istanbul has a very strong infrastructure represented by a great transportation network that connects the Asian regions of Istanbul with the European ones and makes access to the famous areas in it easy and possible, especially since the Turkish government paid great attention to this matter, because providing a strong transportation network contributes to reviving the tourism movement in the city .Thus, it revives the investment movement in it, which leads to a great demand for Istanbul apartments. Strengthening of the city’s infrastructure plays a role in determining the apartment’s price in Istanbul.
SERVICE CENTERS:
Various service centers are widely spread in Istanbul in most areas, and these services include health and medical centers, hospitals, commercial centers, markets, restaurants and malls that provide all the needs of citizens, entertainment centers such as cinemas, parks, children’s amusement parks, and other services provided in The city of Istanbul, which makes the movement of investment and living in it bigger and stronger. That is, investors are turning to Istanbul apartments to invest in it because of the services, advantages and improvements it provides that make life in the city easier and better, which means that the spread of service centers has played a major role in determining the prices of apartments in Istanbul.
ADVANTAGES OF INVESTING CHEAP APARTMENTS IN ISTANBUL:
• GREATER CHANCE OF SUCCESS :
When the investor chooses and buys a cheap apartment in Istanbul, the doors of success and profit are opened for him by investing this apartment in a correct way, either by selling this apartment and making money added to the capital, or by renting it and earning a fixed monthly or annual return while preserving the capital without loss.
• ENJOYING THE BEAUTY OF TURKEY:
Buying a cheap apartment in Istanbul allows you to wander around all regions of Turkey and enjoy the beauty of its scenery of forests, green spaces and water oases such as the Sea of Marmara or the Bosphorus Strait and many others in addition to many historical landmarks such as the Aya Sophia Mosque and many palaces, museums, other mosques , bridges and other archaeological and historical monuments that attract tourists from all sides.
• GETTING TURKISH CITIZENSHIP:
It is one of the most important advantages of buying an apartment or property in Turkey in general and in Istanbul in particular, but obtaining Turkish citizenship by buying a property or apartment must meet a condition, which is that the price of the property is not less than 400 thousand dollars, but by buying a cheap property in Istanbul, investment can be made more than once until you collect this amount and the capital increase, so getting Turkish citizenship will be possible.
