Turkey's apple of the eye, Istanbul, continues to maintain its importance in the eyes of investors for years. This unique city, which is the meeting point of business people, tourists, and investors from all over the world, has become a profitable source of income with the unique opportunities it offers. The concentration of industrial zones in the region, historical and natural beauties, as well as wide business opportunities, make Istanbul the common point of people from different backgrounds. Of course, the demand for a city that has all these facilities is also very high. This demand for Istanbul shows its effect mostly in the real estate sector. The properties in Istanbul are becoming more valuable every year. Therefore, many investors want to take advantage of these opportunities. If you want to buy a property in Istanbul, we have compiled the information you need to know about prices.
Housing prices in Istanbul have been increasing steadily in recent years. This situation also increased the interest in properties. Foreign investors are particularly interested in houses in Istanbul. We can see this interest concretely by looking at the data of recent years. The construction of many housing projects in Istanbul has been completed and put up for sale. Besides, many new projects are on the way. In other words, the real estate sector in Istanbul is rising without slowing down.
The average size of residences for sale in Istanbul is 115 square meters. As of November 2021, the average square meter unit price of the houses in Istanbul is 5242 Turkish Liras. The average depreciation period of these houses is 23 years.
According to the data of 2021, the districts that gained the most value in terms of housing prices in Istanbul were Adalar, Bakırköy, Beşiktaş, Beykoz, and Beyoğlu. If we look in terms of depreciation periods, the districts that brought in the shortest time were Beylikdüzü, Çekmeköy, Esenyurt, Sancaktepe, and Sultangazi.
There is also a tremendous increase in the sales of commercial properties, which are among the most lucrative investment instruments. As of November, the average square meter unit price of commercial properties in Istanbul is 8291 TL. The average depreciation period for these properties is 24 years. Bakırköy, Beşiktaş, Beykoz, and Beyoğlu were the districts with the highest increase in commercial property prices. Beylikdüzü, Çekmeköy, Esenyurt, Sancaktepe, and Sultangazi were the districts that brought the investors the fastest income with their short amortization periods.