Apartment prices in Turkey
The real estate market in Turkey is witnessing rapid growth and is immune to economic crises, as it is one of the sectors least affected by the change in the exchange rate of the Turkish lira against the US dollar, which has attracted many foreign and Arab investors in particular, and the real estate facilities provided by the Turkish government have increased the demand for the real estate market In Turkey, in addition to granting Turkish citizenship to foreign investors by purchasing a property at a certain value and under specific conditions, the demand for real estate purchases is increasing in the areas near the bridges of the new Istanbul Canal project, for which the foundation stone was recently laid.
Many foreigners residing in Turkey, for the purpose of work, study or seasonal tourism, prefer buying an apartment to live in instead of renting a property or staying in a hotel, for economic, cultural or other reasons.
And if you are thinking of buying an apartment in Turkey, allow us to provide you with the most factors affecting the prices of apartments in Turkey with a correction of some common ideas about the factors affecting the high prices of apartments in Turkey, and some important tips to help you find the perfect apartment at the best possible price.
What are the factors affecting the rise in apartment prices in Turkey?
First, define your goal for buying the property; Would you buy it for the purpose of residence or investment? You should also specify your budget and its maximum, and do not forget that no matter how conscious you are about the details, you should take the advice of a real estate consultant before buying any property or apartment in Turkey.
Second, there are a set of direct factors that affect the rise in apartment prices in Turkey, and there are also a set of secondary factors that may interest some people and not others, and let’s start with the direct factors and correct some misconceptions about them:
The location of the property: It is true that the price of the property increases as it approaches the city center, vital places and transportation lines, but you do not have to be strict about this factor. Turkey in general, and Istanbul in particular, has a strong and excellent infrastructure that connects all areas together, in addition to the various services such as commercial centers, schools and hospitals are spread all over the country.
Real estate space: Here is another surprising piece of information. The price of real estate in Turkey increases the smaller it is! That is, the price per square meter in small properties is higher than the price per square meter in large properties. Thus, you may find during your search one apartment consisting of 3 rooms, but it is more expensive than another consisting of 5 rooms, so choose the apartment whose size fits your needs and the number of people who will live in it.
The floor on which the apartment is located: the apartments in Turkey are of two types: they are either located in normal apartment buildings, or in complexes that include residential towers, and the floor on which the property is located affects its price, as the price of the property rises with the height of the floor and decreases with its decline, which makes buyers search for apartments located on lower floors, but be careful! Do not choose an apartment located on the ground floors or in the basement, as they often suffer from humidity, which is especially annoying in winter.
The interior finishes of the property: that is, the real estate’s cladding and interior decoration, which is certainly a factor that greatly affects the price of the property, especially if the decoration contains luxurious building materials such as marble.
The exterior finishes of the property and its view: that is, the exterior appearance of the property and the shape of the surrounding space. Buildings in large cities often have luxurious facades made of reflective glass, and there are historical buildings with archaeological facades. If the house overlooks a garden or a green space, this is definitely a factor influencing its high price.
Services: The residential complexes include a range of services intended for the residents of the complex only, including playgrounds, sports clubs, recreational areas, and children’s play areas, in addition to car garages and picnic areas, with security guards and surveillance cameras. These services are important for some of those looking for an apartment in Turkey, which are Certainly one of the factors affecting the rise in apartment prices in Turkey.
As we mentioned at the beginning, no matter how careful you are about the details, you must hire a real estate consultant to help you choose the right apartment for your budget and aspirations.Contact us to help you find your dream apartment in Istanbul!