Property prices growth Istanbul Turkey
Property prices in Istanbul has grown last year by 20%
According to the recently published report of the global property guide magazine, the average cost of property per square meter in Istanbul has increased by 20% during the period from March 2014 to March 2015.
The level of real estate prices in the area of Besiktas rose to 24.7%, making it the most expensive in Istanbul: 1 square meter of real estate is worth 6000 TL. Besiktas is considered to be a central district of Istanbul, as it is located near the Bosphorus. In addition, there is Bogazici University, the majority of jobs and several luxury hotels. One of the most luxurious residential complexes in the city are located in this area, where just five minutes you can reach by ferry to the Anatolian side, and on a minibus in the absence of congestion – to Taksim Square.
Sariyer District framing Bosphorus and the northern forests of the city, got the second place in the ranking of the cost of property with the price per square meter 4000 TL Housing prices in Sarıyer and districts for the last year increased by 22 %.
Even in the low-cost areas of the city, where prices per square meter of living space seven times lower than in affluent areas, the cost of real estate has grown over the past year. One of them is Beylikdüzü and Esenyurt regions, where the property growths is 20.5% per year and 1 sq m costs around 1500 TL.
During the first three months of 2015 Istanbul was the most popular city among foreign property buyers. Second place in terms of sales of real estate to foreigners occupied the province of Antalya.