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Like any other international city, Istanbul real estate is very diverse in terms of location and price,
As there are high-end places with high prices there are also new residential areas with affordable and competitive real estate,
In this article we try to shed light on the prices of the cheapest real estate in Istanbul,
Hoping to give you dear reader a useful general idea guiding you to the right places to buy cheap property in Istanbul.
Overview of real estate prices in Istanbul
There is no doubt that the real estate market in Istanbul is a vibrant and interactive market that is attractive to foreign investments, as well as the city's heritage and its belonging to a country with high economic growth and among the twenty largest economies in the world; The city is also diverse in price in terms of real estate and generally low when compared to the real estate market in European countries, so after the amendments to the Turkish laws during the past few years with regard to foreign ownership, which has become allowed to own and even obtain Turkish citizenship through specific investment conditions, there is a demand Turkish real estate is steady by investors.
Factors on which prices are determined in the Turkish market:
Specifications that distinguish a property from others and includes:
Geographical location, proximity to public transport, land area, building area, interior and exterior design of the building, services provided to the population, age of construction, materials used in construction and finishing materials, and its importance in terms of tourism and economy, and many others.
Accordingly, we can divide the real estate in Istanbul into three categories:
1- High Value Properties:
It is located specifically in the historic old Istanbul and its neighboring tourist places overlooking the different coasts of the city, such as Yenikapi, Taksim, Sisli and Askodar.
Where prices in these places are private and high price, where the price per square meter at around $ 4,000.
A small apartment is a bedroom and lounge estimated at approximately $ 230,000 can be increased.
2- Medium Value Properties:
These properties are mostly located in the vicinity of Ataturk Airport and the third airport
Such as Kucukcekmece, Basaksehir and Basin Express area in general.
It is a high-quality investment areas and a profitable investment future,
and the value of a small apartment with a bedroom + lounge estimated at $ 120,000
can be increased depending on the location and privacy of each property.
3- Cheap Value Properties:
These areas are located outside the city center within new construction projects,
In areas such as Esenyurt, Baglar and Beylikduzu.
Among these places are also the area after the new airport, also known as New Istanbul,
Where the value of a residential apartment consisting of bedroom + lounge about $ 55.000 can be increased depending on the location and privacy of the property.
Cheapest real estate areas in Istanbul
As mentioned above, cheap properties are available in Istanbul in many relatively new places and outside the old city center.
The following are examples of some of these places and their most general features.
Istanbul countryside
It is intended for rural villages near the city of Istanbul and located in its space, such as the village of Bolenskoy which is located 30 km from Istanbul
and the village of Riva which is 40 km and other villages and places
These villages are characterized by a quiet and charming rural nature as well as distinctive landscapes that make it a destination for many tourists.
Sultanbeyli
Located on the Asian side of Istanbul specifically in the east, this area is characterized by being densely populated, and real estate value is low compared to other places in Istanbul.
Esenyurt
One of the most popular areas of Istanbul, located in the European part of the city, is characterized by high population density, and has multiple low-cost housing complexes compared to other places in Istanbul, a suitable destination for those who want to buy cheap homes.
What is the nature of cheap real estate in Istanbul?
The condition of Istanbul real estate is certainly linked to the price offered as low or high
but also where the property is located determines its price.
The new construction areas that are located outside the urban space
of Istanbul in what is known as: “New Istanbul” are often the condition of real estate
in it and services are very good, and the low price comes from the fact that the place is probably not new, while cheap areas in Istanbul
such as Esenyurt, the real estate situation is different from one to the other,
but many of them are old, due to the population density of these places and being popular.
In light of the contrast between the distance from the city center
and the modernity of the property, it is good to hire a real estate company experienced in Istanbul real estate for the following reason.
What is the role of real estate companies in ensuring the price?
Real estate companies provide buyers with a wide range of options, ranging from places with high value for money to cheap homes.
The role of real estate companies does not stop there,
but contributes effectively in providing reliable and non-fraudulent property prices in Istanbul, in addition to providing the best prices to their customers
in proportion to their desires and perceptions for the housing they want to buy,
and as a result will be better for foreign buyers,
especially those who do not know the Turkish market well, go to secured real estate companies and seek their desire through them.