An increase of about 60% in the prices of apartments in some areas of Istanbul

Istanbul leads the Turkish states in increased prices of its apartments, according to a report prepared by Endeksa real estate platform.

An increase of about 60% in the prices of apartments in some areas of Istanbul
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2021-11-08 Last update 2021-11-30

An increase of about 60% in the prices of apartments in some areas of Istanbul

The real estate sector in Turkey is witnessing a great movement that began with the increase in demand in the real estate market after life returned to normal as a result of the lifting of restrictions imposed by the spread of the Coronavirus pandemic, and the large movement led to a steady increase in apartment prices in Turkey over the course of the current year 2021.

The movement reached its peak after the Turkish Central Bank's decision to reduce interest rates, which resulted in reducing interest on housing loans, which led to a large movement in the internal market that contributed to a further rise in prices.

Istanbul comes first

Being the main real estate market, Istanbul tops the list of the Turkish states considering the increase in prices of its apartments.

The rates of increase vary from an area to another according to their investment value, as some areas recorded an increase in the average price of a residential apartment valued at 1 Million TL.

Real estate in Istanbul

5,000 TL per square meter

According to a report prepared by the real estate platform Endeksa, Istanbul apartments have witnessed a significant increase in their prices after the great demand recorded by the real estate market in Turkey.

The average price per square meter in Istanbul apartments reached 5,111 TL.

While the average price of a house in Istanbul, according to the aforementioned report, was 577,543 TL, while the average investment life for a residential apartment in all of Istanbul was 22 years.


Istanbul comes first

Five districts in Istanbul whose apartments exceed one million TL

The aforementioned report pointed to a significant increase in the investment value of apartments in some areas of Istanbul.

As the average price of a residential apartment exceeded one million Turkish liras in five districts of Istanbul, namely: Islands, Besiktas, Beykoz, Sariyer, and Sile. The average prices of apartments in these areas were as follows:

 

Number

Area

Average apartment price

1

Sariyer

2 million and 667 thousand and 332 TL

2

Beykoz

2 million and 593 thousand and 626 TL

3

Besiktas

2 million and 10 thousand TL

4

Adalar (islands)

1 million and 612 thousand and 800 TL

5

Sile

1 million 30 thousand and 400 TL

 

Şile is the district with the biggest annual increase

Regarding the annual increase in the prices of apartments in Istanbul, Sile ranked first among the regions of Istanbul with an increase of 59.14%, as the price of one square meter in Sile reached 6,953 TL.

Then the islands (Adalar) region came in second place with an annual increase of 50.71%, where the average price per square meter in the islands region reached 11,716 TL.

The Kadikoy region ranked third, with an annual increase of 43.33%, bringing the price per square meter to 13,062 TL.

The annual increase figures and average prices in all areas of Istanbul were as follows:

 

Number

Area

Average price per square meter (TL)

 

Average apartment area (square meters)

Average apartment price (TL)

 

Average investment life of the apartment (years)

Annual increase (%)

1

Şile

6.953

160

1.030.400

27

59,14

2

Adalar

11.716

140

1.612.800

37

50,71

3

Kadıköy

13.062

135

1.610.415

40

43,33

4

Sarıyer

17.252

163

2.667.332

55

40,84

5

Büyükçekmece

5.314

150

768.150

27

38,28

6

Beylikdüzü

4.303

130

525.070

19

38,01

7

Avcılar

4.585

119

515.389

21

37,23

8

Çatalca

4.165

120

466.680

31

36,16

9

Silivri

3.793

130

471.900

27

34,65

10

Başakşehir

7.074

132

890.472

25

33,57

11

Bakırköy

12.943

140

1.733.900

40

32,97

12

Bayrampaşa

5.217

100

494.200

25

30,23

13

Arnavutköy

3.527

103

341.548

25

29,62

14

Maltepe

5.835

110

608.520

26

28,89

15

Çekmeköy

4.341

100

414.500

26

28,81

16

Esenyurt

3.248

106

327.858

15

28,18

17

Beşiktaş

15.285

134

2.010.000

46

27,41

18

Kartal

5.028

110

520.410

28

26,71

19

Sultangazi

3.670

105

369.285

24

26,33

20

Bağcılar

4.374

110

458.590

20

25,94

21

Beykoz

11.816

222

2.593.626

61

25,93

22

Tuzla

4.472

110

475.640

26

25,51

23

Şişli

7.229

105

734.055

26

25,5

24

Gaziosmanpaşa

4.170

101

404.707

21

24,29

25

Bahçelievler

4.392

105

440.475

22

24,03

26

Sultanbeyli

3.675

110

382.470

30

23,9

27

Sancaktepe

3.525

116

389.760

25

23,86

28

Eyüpsultan

5.751

109

626.750

24

23,36

29

Ümraniye

4.989

100

478.400

26

23,19

30

Pendik

4.054

110

424.490

27

23,07

31

Zeytinburnu

5.644

100

545.200

23

21,98

32

Üsküdar

6.290

110

672.100

29

21,9

33

Esenler

3.935

100

381.000

23

21,56

34

Küçükçekmece

5.092

100

498.200

21

20,95

35

Kağıthane

5.299

90

463.050

24

19,21

36

Güngören

4.019

100

389.400

20

18,87

37

Beyoğlu

6.462

96

623.040

24

18,2

38

Fatih

4.894

90

432.000

20

12,32

39

Ataşehir

5.835

111

631.812

24

11,38

 

Edited by Imtilak Real Estate ©

Reference: Emlak Kulesi + Endeksa

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