One of the many questions raised by those interested in the real estate sector in Istanbul is (what is the best time to own property in that city), especially those who wish to enter the field of real estate investment, as they are interested in obtaining the best, most distinguished and appropriate opportunities.
In this article, you will learn about the most important details related to the real estate market in Istanbul.
When is the best time to buy a property in Istanbul?
When it comes to real estate, timing is everything. Do you want to buy when prices are low and sell when they are high? But this is easier said than done because predicting the future is abstract. So, what is the best time to buy real estate in Istanbul?
There are a few things to consider before making a move. First, you need to consider the current state of the market. Is it stable or volatile? If prices are going up or down quickly, it might be best to wait for things to settle down.
In general, the best time to buy real estate in Istanbul is during a recession and this is usually from November to March. Not only do prices drop during this time, but there are also fewer buyers in the market and this means you will have more negotiating power and you can often get a better deal when buying.
Some say the best time to buy real estate in Istanbul is during the winter months as the city witnesses a high demand for housing during the summer months, so the prices are inflated. However, during the winter, the demand is lower and the prices are reasonable. In addition, many real estate agents offer discounts. during the winter months.
(These are all just studies and beliefs from those with expertise and experience, but in the end, who determines the best time is your budget, your goals, your need and compulsion to own property, and other details).
Forecasts about the real estate sector in Istanbul
In the next few years, Istanbul is set to become one of the most sought-after real estate markets in the world. Thanks to several factors - including a booming economy, a growing population, and the influx of international investors - the city's real estate sector is poised for significant growth.
If you are thinking of investing in the real estate market in Istanbul, now is the time to do so, as prices are still relatively low, and as the demand for real estate continues to increase, prices are likely to increase significantly.
Factors determining real estate prices in Istanbul
If Istanbul is your destination for real estate ownership, you must look at the factors that determine their prices to ensure that you will not be a victim of fraud or the like, and this is what we will talk about below:
- The closer a property is to the city center, the higher its price, because properties located in the city center have better access to public transportation, facilities, and schools.
- The size of the property also contributes to its price. Larger properties are usually more expensive than smaller properties.
- Older properties tend to be less expensive than newer properties because they often require more maintenance and repairs.
- The condition of the property also affects its price, as properties in good condition are usually more expensive than those in poor condition.
- The demand for real estate in a particular area can also affect the prices. If there is a high demand for real estate in an area, the prices are usually higher than in areas with lower demand.
Read more about Expectations about Real Estate Prices in Istanbul 2024
Buying a property on the European side of Istanbul is better or the Asian side?
If you are looking for property in Istanbul, you may be wondering if it is better to buy on the European or Asian side. Both sides of the city have their pros and cons, so it depends on what you are looking for in a property. Here are some things to consider when making your decision.
1 - If you want to be close to the city center, European Istanbul is the place for you but if you prefer a more residential area, Asian Istanbul might be a better option.
2 - Real estate in European Istanbul is generally more expensive than those in Asian Istanbul.
3 - As European Istanbul is more developed, the infrastructure is better but this also means that construction noise can be a problem.
Read more European or Asian Istanbul? ..Which is better for housing
Advantages of buying a property in Istanbul now
Here are some of the advantages of buying a property in Istanbul right now:
- Prices are still relatively low compared to other major cities.
- There is a lot of construction work going on, so there are many new and modern properties available.
- Istanbul is a fast-growing city, so your property value is likely to increase over time.
The most famous areas of Istanbul for real estate ownership
200,000$
Istanbul Asia,
Kadıköy,
Under construction
2024-12-30
0$
Istanbul Europe,
Beşiktaş,
Under construction
2024-01-01
750,000$
Istanbul Europe,
Fatih,
Ready
240,000$
Istanbul Asia,
Maltepe,
Under construction
2024-01-01
190,000$
Istanbul Europe,
Beylikdüzü,
Ready
Before choosing your property in Istanbul, you should take a quick look at the most important and most suitable areas for your project, including the following:
1 - Besiktas is one of the most affluent areas in Istanbul, it is located on the European side of the city center and is home to many embassies, high-end shops, and luxury hotels and is also a popular residential area for wealthy Turks and expats.
2 - Beylikduzu - one of the largest areas on the European side, as it includes many residential options in addition to a large shopping center and many parks.
3 - Esenyurt - Another large area, more affordable than some others but still has good public transportation and lots of green spaces.
4 - Fatih - the historic center of Istanbul, a great option for those who want to be close to the city's attractions but still have access to modern amenities.
5 - Kadikoy A modern and cosmopolitan area on the Asian side of Istanbul, famous for its lively nightlife and vibrant atmosphere.
Buying a property in Istanbul is a great idea to implement to preserve your capital as well as to ensure that you get a distinctive and high return over time, so do not hesitate and contact our real estate consultant, who will provide you with the most important available and appropriate options.
Read Also: Where are you Looking for Apartments for Sale in Istanbul?