Despite the decrease of prices in the housing market in the recent period, housing prices are still on the high level. According to the figures of Global Property Price Index issued by Knight Frank, a British real estate company, Turkey is the first country for the increasing of real estate prices. According to the data of the Central Bank of Turkey, housing prices in Turkey increased most in Istanbul.
Prices per square meter reached to 4000 TL
As stated in the report of Knight Frank, prices per square meter reached to the level of 4000 TL in Istanbul. The most expensive districts of Istanbul are Beşiktaş, Sariyer, Kadıköy, Şişli, Levent and others. The prices per square meter in Besiktas are approximately 15 000 TL. The price is 9 000 TL in Sariyer, in Kadikoy is approximately 8 000 TL.
Rental fees also increased and reached to the level of 21 lira per square meter.
The Cheapest Neighborhood is Silivri
The cheapest houses for sale of Istanbul are in Silivri. Average prices per square meter are approximately 1800 TL. Esenyurt and Arnavutköy follow Sariyer. The cheapest districts are Silivri, Esenyurt, Beylikduzu, Gaziosmanpasa in the European Side, Sultanbeyli , Tuzla, Kurtkoy, Sancaktepe, Pendik and Cekmekoy in the Anatolian Side of Istanbul. 1+1 apartment price in these localities is about 250.000 TL. When new transportation investments planned in these regions are introduced, home prices will increase in these regions.