Buying a property and investing in it is a difficult decision and requires a lot of research, scrutiny, deep study, and expert advice, especially if the investor is in a new country, and one of the most important general axes that must be understood before embarking on the purchase process is understanding the factors affecting the prices of apartments in the area you want. Investing or owning it so that you can evaluate the opportunities and options that appear in front of you objectively and be more aware of what avoids you from making a wrong decision or falling victim to fraud.

In this article, we will learn together about the factors affecting the variation in apartment prices in Turkey in general, and in Istanbul in particular, to give you a clearer picture of the nature of the real estate market in the country and make it easier for you to make a purchase decision that suits you…

Factors affecting the price of real estate in Turkey:
1- The location of the property:
The first and most important factor that makes a big difference between each property and others is the location of this property, where the prices of apartments vary greatly in different Turkish cities due to the different vital, tourist, commercial, and other features, whereas Istanbul comes in the first place in terms of high prices due to its commercial and tourist centrality, followed by other cities such as Ankara, Antalya, Izmir, and others, but you can get better prices in smaller cities.
The value of the property is also affected by the neighborhood in which it is located and its location in terms of the center of life, historical and tourist places, and other additional features such as its proximity to transportation and main roads, the availability of life services in its surroundings, and its distinctive view, among others.
2- The area of ​​the property:
The value of the property is affected according to its area. In Turkey, the larger the area of the property, the lower the price per square meter. For example, in an apartment with one room and a salon, the price per square meter is higher than that of three or four rooms and a salon.
3- Age of the Building:
One of the most important factors affecting the price of real estate in Turkey is the date of construction of the property, as the value of apartments in modern buildings certainly increases, and one of the reasons for this is that Turkey is located on the earthquake line, which places importance on modernizing real estate, especially old real estate before 1999, which may not match the modern real estate law earthquake resistance.
4- Condition of the Building:
The price varies from off-plan or ready-made properties, as the first one is cheaper but may require a longer waiting period before receiving the property.
5- Real estate design:
The exterior appearance of the property is a factor that affects the price of its apartments. If the property has a luxurious view or distinctive design and attractive appearance, its price will be higher than other properties in its surroundings.
6- Other privileges of the apartment:
The price of apartments within the same building varies according to the floor, apartment number, and any other privileges that the apartment may contain, such as interior decoration or others.
7- Ordinary building or residential complex:
Residential complexes offer additional features to their residents such as security, green spaces, and various services according to the nature of the complex. Therefore, the prices of apartments in them are higher than the separate residential buildings that may be located in the same surroundings, and the price increases as the services provided by the complex increase.

Apartment prices in Istanbul:
Istanbul comes first among Turkish cities in terms of high real estate prices, due to it being the most important economic and tourist capital in Turkey.

What affects the prices of apartments in Istanbul:
Its location and the residential neighborhood in which it is located, whether it is a quiet, upscale neighborhood or in a noisy tourist area, near or far from the historic city center, in addition to the proximity to the sea coast or the Bosphorus, which provides unparalleled stunning views, and apartment prices vary between the European and Asian sides of the city.
Proximity to important means of transportation such as the metro, Metrobus, and tram.
Proximity to huge vital projects such as Istanbul Airport, the Bosphorus Bridge, the new Istanbul Canal, and others.
The presence of the property near the famous huge malls or popular tourist attractions.

Being aware of all these features and evaluating them in the property you want to buy helps you determine your priorities, and makes you able to compare realistically so that your decision to own your dream home becomes one step closer to you.

Edited by: Aldar Real Estate ©