A Market Leader Expands On Factors Affecting Real Estate In Istanbul

By Author: Justin Thomas
Total Articles: 6
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Over the recent months, property sales in Turkey simply boomed to an unfamiliar height. As a leader in the field with more than a decade of experience to their name, the team at Prime Property Turkey shared some insights into what are the factors that determine the prices of real estate in this Mediterranean country.

The city that is showing the highest interest from foreign investors is Istanbul and while it is one of the largest cities in the world, based on its massive population, it is also a city of which every neighbourhood seems to offer foreigners an attractive investment. While the investment opportunity in the city is very high, it is not only investors who are keen on putting their money into the local real estate. This is due to another factor contributing to the price of the property which is that it is also a highly attractive place to go and stay. Istanbul has a strong network of transportation. It also has numerous outstanding education centres and its public service delivery is of an outstanding rate.

The age of the specific real estate is another influencing factor. Newly built buildings are ...
... far pricier than their much older counterparts. The main influencing factor behind this is the much higher rental income you can obtain from your tenants in the more modern buildings in the city.

While on the topic of newly built buildings, the kind of finishes these buildings showcase is another major factor that determines the price of real estate when you want to add property located on Turkish soil to your name. The better the quality of the construction, the finishes and the interior and exterior décor, the more you can be prepared to cough up for your investment. In many of these buildings through the finishes are not of the best possible standard and it is often the case that you will be able to hear your neighbours when you opt to invest in a property that forms part of a multi-tenant building.

In multi-tenant buildings, the size of the property is often the determining factor when it comes to how much you would need to fork out to be able to call the place your home. When it comes to size, this will include both the floor size as well as how high the ceiling in these properties is. Another factor that influences the price of multi-tenant buildings is the number of units per block. While a much larger block can in some cases indicate a higher price, it is not always the case. Mostly, the more units in a single block, the cheaper the accommodation becomes as an investment.

A factor that does cause reason to increase the price of a property in any of these buildings would be if there is a shopping centre nearby or even on-site. Many blocks of flats in the city have integrated shopping centres into their plans and this is in general a positive sign to investors highlights the team at Prime Property Turkey.

Lastly, as always, location is everything. In the city of Istanbul, buildings with an incline are often more expensive to invest in and those who have side windows are even more so. The number of windows and the location of the windows all affect the amount of winter sun these properties allow in and how much of a view those living in the property can enjoy. Once again, this would mean that a corner flat in one of these Istanbul properties will be more expensive quite simply because the specific option has more wall space for more windows, better views and more sunshine.

About Us

Our team have more than a decade of experience in the local property market and is here to assist with a wealth of knowledge and skills. Every member of our team is experienced and capable to assist with helpful advice as we operate under the guidance of three of the best in the real estate industry, globally. While many believe that our success is the product of our expertise in the field, we rather believe it is due to our friendly team and our straightforward approach that instils the confidence our clients require. Visit our website at https://www.primepropertyturkey.com/ and see how we can make your property dreams come true.

I'm Justin Thomas co-founder of Prime Property Turkey an international real estate consultancy & investment firm.