Real estate prices in Istanbul
Stabilizing real estate prices in a country or somewhere is very difficult .... Real estate prices in every place and time change according to certain circumstances or events that occur in the country in which they are located .... and Istanbul is one of these cities To which this rule applies .... As a result of the many questions that are raised about real estate prices in Istanbul, we decided to dedicate the following article in order to discuss this matter very carefully.
In this article, we will discover that there are general influences that contribute to real estate prices in Istanbul reaching their current image, and there are special reasons emanating from the property itself.
These are the general influences that contribute to the formation of real estate prices in Istanbul:
1- Crises, if they occur:
Any crisis that occurs in Istanbul would affect real estate prices in it.... This effect does not have to be negative, but sometimes it is positive.... For example, the Corona crisis that swept the world greatly affected the Real estate prices in Istanbul .... It was also a reason that it lost some of its material value .... But it is important to point out that this matter was a golden opportunity for many people, as they took advantage of this situation and bought these properties and they will not have to Except to wait for some time until conditions improve and their prices rise again in order to sell them and take advantage of the price difference.
2- If a sudden economic collapse occurs:
It is also important to point out that any economic instability would affect real estate prices and thus investors' losses would be large.... One of the most important advice given in this case is that the investor has long patience and a superior ability to bear any loss that may occur.
3- If it was hit by an earthquake or any natural disaster:
The Turkish state has many earthquakes and natural disasters, so if this happens in a certain area, the prices of its real estate are expected to drop dramatically... The smart investor is the one who takes advantage of this opportunity and buys the damaged real estate at a low price and works on restoring it and then selling it at a higher price later.
These details can affect real estate prices in Istanbul:
1- Type of property and its internal details:
The type of real estate has the largest role in determining the price of real estate in Istanbul .... For example, the prices of real estate that are located within the residential complexes are fundamentally different from those located outside, the first is very high, while the other is less expensive, due to the different advantages and advantages of each.
It is also important to mention that the internal specifications of the property have an important role to play in determining its price, and this aspect draws the attention of the buyer to it.... One of the most important of these specifications is the property's appearance/quality of finishes/design on which it was built, is it traditional or modern? On which floor is it located on the first or last floors, as the rule says that the lower the floors the higher the prices, because the higher floors are not suitable for many people for health reasons in most cases.
2- External Specifications:
In addition to the fact that the external specifications of the property also have a role in determining its price, the proximity of the property and its distance from service centers and its proximity to vital places .... Also, the presence of a public transportation network close to it / if it is close to important development projects in the country such as Istanbul International Airport The new or the new Istanbul Canal that is still under construction .... All these details are enough to raise the price of real estate in Istanbul.
After all these lines, we will be able to find the reasons that affect real estate prices in Istanbul as they are today .... We can also conclude that the prices of these properties vary from year to year based on certain influences and circumstances.
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Diyar Turk Real Estate team
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