Planning to buy your dream home in Turkey? Our article for today will explain important information about the house prices in Istanbul Turkey, in addition to comparing the average house price in Istanbul Turkey with other European countries.
Read more: The Complete Guide to Istanbul’s Highways and Main Roads
General Information about House Prices in Istanbul Turkey
House prices in Istanbul Turkey differ depending on a number of criteria, and these residences are popular among international investors.
Due to its enormous success factors for all investment initiatives, including real estate investment projects in Turkey, Istanbul has emerged as Turkey’s economic and investment center.
Istanbul’s housing market experienced a wave of growth in 2021 that has continued to this day.
Read more: Advantages and Benefits of Buying a Property in Turkey
Average House Price in Istanbul Turkey
Due to a number of factors, most notably the high demand for real estate ownership in Turkey, the facilities provided by the Turkish government to investors, and the investment benefits for real estate investment in Turkey, house prices in Istanbul Turkey have started to gradually rise.
Read more: Full Guide to Owning a Property in Turkey for Foreigners
Contributing Factors to House Prices in Istanbul Turkey
The following are the most significant contributing factors to house prices in Istanbul Turkey:
- The geographic location of the area in which the property is located.
- One of the primary elements influencing houses prices in Istanbul Turkey is the proximity of basic utilities to the property.
- Malls, shops, entertainment services, etc. houses prices are impacted by all of these services.
Read more: Full Guide to US Citizens Buy a Property in Turkey
Main Reasons Determining Home Prices in Istanbul Turkey
There are several reasons that determine the houses prices in Istanbul Turkey and, especially the factors that contributed to the rise in the average house price in Istanbul Turkey in 2021:
- One of the most crucial elements affecting house prices in Istanbul Turkey, is the view of the home or property. For instance, home prices in Istanbul Turkey rise when there is a breathtaking sea view, a distinctive view of forests, or other special sights.
- Another aspect that affects home prices in Istanbul Turkey, is unquestionably the size of the property.
- One of the important elements affecting home prices in Istanbul Turkey, is a home’s architectural style and features.
Read more: Foreigners Purchasing a Property in Turkey | Full Process
Forecasts of Average Home Price in Istanbul 2023
Have you heard about the Turkish government’s 2023 plan? The new Istanbul Canal project, the Istanbul Third Airport project, and other highways and projects that attracted the attention of investors.
They are just a few of the large investment projects that have been implemented as part of the state’s comprehensive plan for the year 2023 to come with billions of foreign dollars.
As a result of this super economic and investment boom, the average home prices in Istanbul 2023 are expected to be higher than house prices in Istanbul 2022.
Read more: Buying a House in Turkey and Getting Residency | Full Guide
What Factors Influence House Prices in Istanbul Turkey?
House prices in Istanbul Turkey are based on a wide range of elements and standards, and as a result of these differences, we find that these standards can vary significantly.
The following are the most crucial determinants of house prices in Istanbul Turkey:
Read more: Istanbul’s Magical City | All You Need to Know
Location of Houses in Istanbul Turkey
Is it possible to estimate home prices in Istanbul, without mentioning the home’s exact location?
There are properties that have highly specific geographic strategic locations, whether close to a well-known tourist site, a shopping mall, or other essential or recreational amenities that affect house prices in Istanbul Turkey.
Read more: Apartment For Sale In Maltepe Istanbul | All The Info
Size of Homes in Istanbul Turkey
The second most important factor affecting house prices in Istanbul Turkey is the size, as prices of large areas usually increase.
Read more: Full Guide to Pendik Istanbul and Its Real Estate Sector
Specifications of Houses in Istanbul
The third most important factor that determines the average home price in Istanbul is the specifications of the property.
Is it in a separate building? Or in a modern apartment complex? Or in a luxury tower? What is the style of the house? Etc.
Read more: Questions about The Real Estate Residence Permit in Turkey
Find Out The Average House Prices in Istanbul Turkey
Are you wondering why Turkey? And why Istanbul in particular? Certainly, Istanbul offers a number of highly advantageous factors that encourage real estate investment. City of Dreams, a city whose fame is known around the world.
Read more: Basaksehir Cam and Sakura City Hospital in Istanbul
Average House Prices in Istanbul Turkey in US Dollars
Do you wish to purchase a house in Istanbul? The average house price in Istanbul Turkey can be estimated to be 150 thousand US dollars.
Home prices in Istanbul range from 100 thousand US dollars for small houses to 500 thousand US dollars for large ones.
Read more: Best Places to Live in Istanbul for Expats and Families
Average Home Price in Istanbul’s Countryside
The countryside of Istanbul has breathtaking natural elements that made living there a dream for many.
For this reason, some ask about the average home prices in Istanbul’s countryside, and the average price of these rural homes varies according to the rural areas themselves, as the price increases slightly according to the proximity to Istanbul’s city center.
Read more: Comprehensive Guide to The Cekmekoy Istanbul Turkey Area
Turkey’s Average Home Prices
Given the greater investment benefits that Istanbul, the Turkish capital of trade and investment, has, the average home price in Turkey outside of Istanbul is considerably lower than that of Istanbul.
Important Factors Affect House Prices in Istanbul Turkey
Many investors are wondering about the reasons that affect home prices in Istanbul Turkey, and why prices have taken a way to increase, since the start of 2021, up to the expected rise in 2023. Here are some explanations:
The increasing Demand for Purchasing Homes in Istanbul
Perhaps the most important reason for the rise in house prices in Istanbul Turkey, is the high demand for purchasing homes.
The greater the demand for a service, the higher its price. And this is the concept for increasing home prices in Istanbul Turkey.
Read more: Property for Sale in Sancaktepe Istanbul Turkey
Istanbul’s Housing Market | A strong Infrastructure & Excellent Location
After the development of numerous massive investment projects, this attractive city’s infrastructure became quite powerful and developed, and this undoubtedly helped the house prices in Istanbul Turkey to rise.
We, at Lale Real Estate Group, will be glad to accompany you through your real estate journey. Don’t hesitate to contact us by clicking here.
Read more: The Best Guide to Besiktas Istanbul Apartments for Sale
FAQs about Home Prices in Istanbul Turkey
How much is an average house in Turkey?
The average house price in Istanbul Turkey, is approximately 150 thousand US dollars, and it increases or decreases according to the house’s specifications.
How much does a house cost in Turkey?
The costs of houses in Turkey vary due to several factors, ranging $100,000 for small homes, and $500,000 for larger ones.
How much does an average house cost in Istanbul?
The average house cost in Istanbul is $150,000, and it differs due to the house’s features.
How to search for homes in Istanbul at affordable prices?
You can search for homes in Istanbul at affordable prices by contacting Lale Real Estate Group to get the best real estate offers and investment opportunities.
What criteria determine house price in Istanbul Turkey?
The criteria that determine house price in Istanbul Turkey are:
The geographical location of the property.
Size of the property.
Designs and other specifications of the property.What are the forecasts for houses prices in Istanbul?
Houses prices in Istanbul are expected to increase gradually due to the high demand for real estate investment in Turkey.
