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Property Prices in Central Istanbul

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valuation report for foreign investors
Nova Property

A study has been carried out by EVA Real Estate in Büyükdere Caddesi (street) and the surrounding areas which revealed that the square meter unit prices of the residential properties in the area, and the projects which are currently being built, range between 5.000-38.000 TL, and that the compounded increase in value in the last three years has reached 74%.

Bomonti, Istanbul
Bomonti, Istanbul

The study has also revealed that Bomonti is beginning to stand out more and more in terms of the increase in value within the region, and that business centers are also seeing a great deal of demand, due to the fact that it is the central business area of Istanbul.

All of the property Pprojects in the region are A+ and A

Cansel Turgut Yazıcı, stating that the property projects are especially preferred by those working in the business centers in Maslak and Levent and by families from top income groups also said that all of the real estate projects examined in the region are targeted at the A+ and A socio-economic group. 

Cansel Turgut Yazıcı
Cansel Turgut Yazıcı

Yazıcı stated that luxury residence type of projects have  increased in number in the region recently. She also added that such opportunities are being offered as social facilities, swimming pools, fitness centers and car parks. Besides, a great deal of property projects are delivered together with white goods as.

Compound increase in value in the last three years is 74%

Yazıcı states that the increase in values in the region reached 8% in 2013, were at record levels with 31% in 2014 and also reached 23% in 2015, according to the “2015 Istanbul Branded Residential Property Sector Report”. She also expressed that when the values in the region over the last three years are examined, the average compounded in value is around 74%, and this puts the region in 13th place in the 34 regions of Istanbul in general, in terms of the increase in values.

Increase in House Prices
Increase in House Prices

Emphasizing that both the branded residential property sector and the office sector is displaying a fast development in the region depending on its host role to the central business area, Yazıcı also stated that the branded property market had actively started in the region in 1999, and that around 59 companies were in competition for almost 16 years. She also noted that the projects with the highest prices are those that offer ultra luxury services together with factors such as location, transport and views.

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