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.

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2021-11-08 Last update 2021-11-30

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.

Table of content

Istanbul comes first

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

Reference: Emlak Kulesi + Endeksa

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

Table of content

Istanbul comes first

5,000 TL per square meter

Five districts in Istanbul whose apartments exceed one million TL

Şile is the district with the biggest annual increase