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Prices of apartments in Istanbul and the status of the Turkish economy in 2019

Prices of apartments in Istanbul and the status of the Turkish economy in 2019

 

The price of apartments in Istanbul depends on several factors to be able to categorize correctly and these factors are:

1- The project site (includes Istanbul 39 sectors)

2. Status of the project (ready for housing or under construction)

3. Purpose of purchase (investment or housing)

4 - proximity to transportation, major roads and airports

5- Proximity to the sea, forest or city center

6. Services available within the project

This is what we will separate in the article, but before starting it is necessary to talk about the Turkish economy during the past few years and expectations for the current year and the near future because most people who want to buy a property in Turkey, whether for housing or investment have heard a lot about the volatility of the Turkish economy, The exchange rate of the Turkish lira against the US dollar reached 7.2 after it was about 4.5 in one month

But what is the reality of this volatility in the Turkish economy?

Is it a sign of moving away from owning a property in Turkey or vice versa?

To start revealing the facts about the Turkish economy during 2019, we must return a little to last year 2018, which has seen clear inhibitions that can’t be denied as one of the most prominent manifestations:

- Decrease of the Turkish lira against the US dollar and other currencies in October 2018

1 USD = 7.2 Turkish Lira

- Thus, the total loss of the Turkish lira in 2018 until October is equivalent to about 60%, which is very high and can be considered a real collapse

- The interest rate on bank loans reached 24%, the highest rate ever

- Inflation rates reached 25% from January to October 2018 while the normal inflation rate is about 10% per year

- Thus, unemployment rose to 11.1%

These data were taken from the Turkish Statistical Institute

Perhaps these previous results mentioned above were not caused by weakness in the Turkish economy as such, but the external pressures and relations that fell between America and Turkey was the main reason for the decline of the exchange rate of the Turkish lira against the remaining currencies and the evidence of what we say is the following:

- The balance of trade in 2018 within the month of October was a win as imports were worth 15.6 billion dollars, while exports amounted to 16.4 billion dollars, which means that the balance of trade was a profit of 800 million dollars and this difference rarely achieved within one month

- The balance of services achieved a profit of 3.8 billion dollars and thus became the deficit during the year 2018 to October, the value of 27.1 billion dollars, a good figure compared to the previous year, the year 2017 if the deficit in that year was $ 47 billion.

- The exchange rate of the Turkish lira against the dollar rose at the beginning of the new year 2019 to 5.2 against the dollar

There are other external incentives to help the Turkish economy to rise again, including:

• The drop in the price of a barrel of oil globally from $ 80 to $ 63 by the end of 2018 and this will be of great benefit to a country such as Turkey depends on the import of energy by 100% because of the Treaty of Lausanne, which prevents Turkey from exploration for underground resources until 2023

• Lower fuel prices in the market This helps the markets to highlight their best, especially in the sectors of industry and foreign export, which in turn is aware of the drop-in inflation from 25% in October 2018 to 21% by the end of 2018

• The large facilities provided by the Turkish government to foreigners to invest in the real estate sector and the acquisition of Turkish nationality contributed significantly to the increase in demand for investment in the real estate sector and thus the introduction of more external pieces to the state treasury and support the local currency

So, can we conclude that the Turkish economy will not suffer any problems in 2019?

Of course, all of the above is not a sufficient indicator of the soundness of the Turkish economy of confusion in 2019 and beyond and let us not forget that the rate of interest on loans has reached 24%, a high value will undermine the ability of the state to meet the debt can’t reduce the interest rate also in time As this will increase the fears of foreign investors and therefore we will return to the lira falling against the dollar due to lack of foreign exchange in the country

 

But it is important and constant that the Turkish economy is a strong economy ranked 17th in the world and therefore it is solid that the desire to buy a property in Turkey to move forward and there is no need for fears

All in all, the Turkish economy is an emerging economy and therefore its growth is rapid and extensive. At the same time, unrest is always available, even if its base is not solid. Investment in Turkey would have been a big risk.

Finally, before moving on to the apartment prices in Istanbul, we should mention that the Treaty of Lausanne will end in 2023, after which Turkey will be able to extract and benefit from its underground resources, as well as to benefit from the wages of ships crossing the Bosphorus. Investment or housing is safe

Those who are considering a short-term investment within Turkey should study their project well before they begin

Prices of apartments in Istanbul

As we mentioned at the beginning of the article that the prices of apartments in Istanbul vary according to several factors and now we will begin to detail these factors enough can be willing to buy a property in Istanbul to get a sufficient and adequate answer to everything that might be thought of when choosing the right property

Property prices in Istanbul are rapidly changing and we take examples of the prices of two-room houses and a small lounge:

 Can start with the equivalent of $ 20,000 in unsafe neighbourhoods

Up to $ 35,000 in residential compounds away from transportation or with poor recreational services

But if we want to talk about a real estate suitable for life and stability in Istanbul, we are talking about a property starting from 60.000 US dollars and continues to rise according to its location and whether it is ready or under construction and also by proximity to transportation and whether it is freely or not

Thus, the price of the property in the same area can be up to five times that amount according to the above variables

In view of the fact that the price of real estate in Istanbul is very uneven and because of the increase in the number of misleading ads promising promises unrealistic, we saw in the right home company to write this article in detail to be sufficient evidence to explain to the reader what he should know about the price of apartments in Istanbul fully

1- Location of the property: Istanbul has 39 municipalities divided on the Asian and European continents, and we will mention here the most important sectors in which the prices of real estate changes with practical examples of each:

A-Zone Maslak Path: Located in the European section of Istanbul as shown in the picture below

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It is characterized by its high buildings and luxury, which reflect the world's architecture and luxury complexes and is characterized by the fact that it is already on a high plateau of Istanbul and thus its enchanting on both the Bosphorus Strait and the forests of Belgrade

In real estate investment alone, real estate prices rose by 1.46% during the month, while in the past five years the total price of real estate has increased by 19.6%. Thus, we can conclude that real estate investment in the course is not to be foreseen by the rapid increase in real estate prices, The price of the property for 100 square meters is about one million Turkish liras and can be rented monthly for more than 4000 Turkish liras a little, so the property needs an investment cycle of 21 years to restore the full price

For the price per square meter of a property in the course is an average of 8700 Turkish lira for the old real estate, the new projects is up to more than that

These general statistics for the region there are projects with a much faster return on investment

You can find our properties in this area from here: Maslak Real Estate Property

 

B- Basin Express road:

It is also located in the European section of Istanbul and connects this road between the two main roads E5, the main road in Istanbul, which passes through the line of the most important means of public transportation in Istanbul and the other route is TEM, which is also the main road connecting Istanbul with other states and through it can Access to the new Yagouth Sound Bridge

It is worth mentioning that the Basin Express Road includes many hotels, large corporate centres, banks and a large business forum, which is considered the first destination for business class investors

And the Basin Express Road, which includes the Mall of Istanbul, the largest mall in Europe, and is a fast link to the Ataturk airport, which will now be converted to the largest park in Turkey

 Due to the importance of this road has been opened many of the investment projects in the hotel or residential to see it can visit the following link: Basin Express Properties

C- Sisli area Sisli:

Sisli is one of the most luxurious neighbourhoods in Istanbul, close to the city centre, service centres and universities. It is also characterized by its picturesque surroundings, charming ruins and the borders of the Sisli region.

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As for real estate investment in Cheshire, real estate prices rose by 1.38% in one month. The increase in the value of real estate over the past five years was 64%. Thus, real estate prices have increased in recent years. Of high real estate prices and again of rental leases

As it is possible to rent an apartment with an area of ​​100 square meters at a price of 700.000 Turkish liras in the amount of approximately 3.000 Turkish liras per month. Therefore, a house can pay for it from the monthly lease in about 20 years. If the value of the profits from the lease is collected with the value of the profits from the high prices, good

The price of a meter in the Sisli area starts at 5.500 Turkish liras per square meter

You can visit our projects in the Sisli area from here: Sisli Properties

D- A very famous area Bahcesehir:

Welcome to the city of gardens or Bahçeşehir in Turkish, which is actually a famous name Bahcesehir city is dominated by green areas and beautiful landscape also has a clear air away from the congestion and pollution of the city is a luxurious area inhabited by people of the upper class and characterized by rapid urban development

 

A popular area is 20 km from Ataturk International Airport and 25 km from the city centre

 

As for a famous terrain, it is an area with lots of hills, small plateaus and valleys, adding to the splendour of the place and giving you a sense of life in the heart of nature

It is worth mentioning that the region is brisk and famous with natural life, this does not mean that the services are not at a high level .. It includes a lot of commercial centres and local and international brands in addition to popular markets, cafes and restaurants

It is generally characterized by a calm atmosphere which will provide you and your family with a well-nourished and healthy life

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As for real estate investment in Bahcesehir statistics showed that during one month property prices rose by 2.66%, while in the past five years has increased by a total of 70%, which indicates the rapid urban development of this region and this is caused by a continuous rise in prices

For an ordinary apartment in a famous area of ​​100 square meters, the price is about 450,000 Turkish liras and its monthly rent is about 1,500 Turkish liras per month. Therefore, the house needs to compensate for the price of the lease to a period of 25 years, which is a big period, but this statistic was presented for the current situation. The above signals also indicate that this region has a great future in real estate investing

The current price per square meter starts at 3.600 Turkish lira

You can learn about our projects in this region from here: Bahcesehir projects

 

 

 

E- Basaksehir area:

In the European section of Istanbul in a modern quiet area with advanced infrastructure, the municipality of Basaksehir was separated from Kucukcekmece in 2008

 

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Situated near the famous Basaksehir Valley, which is full of pine trees and evergreen trees throughout the world, as well as the largest artificial lake and the largest health centre, this area has added importance and is relatively close to the city centre

The prices of real estate in Basaksehir rose by 0.78%, which is not high, but if we look at the rate of rise in prices during the past five years, we will find that it reached 78%, which is really high if a house can be sold for almost seven years Purchased by

For the apartment of 100 square meters, the minimum price is about 480.000 Turkish liras and its monthly turnover is 1,700 Turkish liras and therefore the investment return from the lease will be after 24 years

Price per square meter in the area of ​​ Basaksehir starts from 4000 Turkish lira

To visit our real estate in this area from here: Real Estate at Basaksehir

F- beylikdüzü area:

 The new centre of Istanbul is also invited by many people

The beylikdüzü area is characterized by the arrival of the metro line, which is the most important means of public transport in Istanbul through which you can reach the centre of Istanbul in one hour

With its clean surroundings and a lot of urban beauty, the organization and tranquillity are also close to the Sea of ​​Marmara and by sea port you can easily navigate to other states

The importance of the beylikdüzü area is growing as it is developing very rapidly and property prices are very suitable compared to those in areas such as sisli,

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For real estate investment, real estate prices rose by 1.1% in one month, while the rise over the past five years has reached 76% and this percentage is increasing

It is worth mentioning that for the apartment of 100 square meters you can get it for 300.000 Turkish liras and rent it at 1.400 Turkish liras per month and therefore a house can compensate for its price within 18 years which is an excellent number for residential real estate

The price per meter in beylikdüzü starts at 2,400 TL

Many of the new landmark projects are being built in the beylikdüzü area with charming sea views

To view our properties in this area: beylikdüzü Properties

G- Esenyurt area:

Located on the European side of Istanbul, it is one of the largest and most densely populated areas of Istanbul (2,770 sq km). It is a densely populated popular area with many employment opportunities and a mix of Arab, Turkish, Kurdish and African nationalities.

Esenyurt has two distinctly different characteristics of life:

The first type is the densely populated areas in the structure and characterized by a pattern of life of activity and movement and also the real estate is cheap in terms of purchase or rent, and for transportation, facilities and services are available well near these neighbourhoods

The other is the style of residential complexes which are characterized by calm and provide a higher level of services and also these residential complexes come at several levels on demand, including cheap services acceptable, including the average price of VIP services It is worth mentioning that Esenyurt area is relatively cheap for the real estate market and Tartar rapid growth so keen Many foreign investors to buy their homes or open their projects in it because it is a promising area for investment and also will pass the metro line of them by next year, so there will be no problem in transportation

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If we want to talk about the appropriate section of housing and investment is the southern section near the highway E5 is characterized by very rapid rise in prices as prices rose during one month by 1.88%, while in the past five years only rose by 92.1%

The apartments in Esenyurt are priced at the right price. For an apartment of 100 square meters, you can find options ranging from 265,000 Turkish liras and you can rent them up to 1,400 Turkish liras, so your home can make up for 16 years if you rent it.

The talk about the Esenyurt area is long because the rumours around it are many and there are many companies offering cheap properties in Esenyurt in order to mislead but in fact the area of ​​ Esenyurt already has a proud aspect so it is better to visit the place of projects in this area before judging it

To view our projects in the Esenyurt area here: Esenyurt Projects

 

H- Avcilar area:

If you are a beach aficionado, the area of ​​ Avcilar is the best option for you. This area on the European side of Istanbul has a coastline of 12 km. It also includes several malls and universities. The E5 motorway, which includes the fastest metro line and the most important means of transport General in Istanbul

Between Istanbul's old and modern center, Avcilar took on additional importance, especially after the establishment of a number of luxury projects where everything you may need is available in one place

 

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As for real estate investment in the region of Avcilar, apartment prices rose by one month by 1.24%. For the past five years, the rate of increase was 61%, which is good and promising to rise more

For an apartment of 100 square meters, the price starts from 335,000 Turkish liras and can be rented for 1,500 pounds per month. Therefore, the investment return of this apartment is complete after 18 years

It is a very lively area if you like to see our projects in this area from here: Avcilar Properties

We have chosen 8 of the most active areas for real estate investment in Istanbul and we would like to talk about it in this article. For the points we mentioned at the beginning of the article you will talk about it in each property on my own (what does it include From services, transportation, real estate, etc.)

You have to study the market well before choosing to get the best result and if your time does not allow you to do so, our real estate consultants specialized in this field and have years of experience, you only have to contact us for a free real estate consultation