How much is a One-bedroom apartment in Istanbul
Real estate abroad is a long-term investment that will help preserve and increase funds during periods of economic instability. Housing prices in Turkey compare favourably with European and Russia. Our managers at SummerHome will show you a catalogue of real estate and inform you how much a one-bedroom apartment in Istanbul costs.
WHAT ARE THE BENEFITS OF BUYING A STUDIO APARTMENT IN ISTANBUL
Istanbul is considered the second most important city in the state and is more famous in the world than the official capital of Turkey - Ankara, being recognized as the unofficial centre of the country. The Istanbul Stock Exchange, vital industrial enterprises and the economically important Bosphorus Strait are here.
If your goal is to be in the centre of business life in Turkey, then real estate in its economic centre will become a profitable investment.
Advantages of buying an apartment and living in Istanbul:
- Transport. The city stands at the crossroads of world transport routes - there is an international airport, three international seaports and two railway stations. Istanbul is easily accessible from anywhere in the world. The city has a developed public transport network, including the subway, tram network, buses, trains and dolmus - a local type of city minibus. Also, Istanbul operates ferries for crossing the Bosphorus and cable cars.
- Rich story. For thousands of years, this city has been considered one of the world's cultural capitals. In total, 70 museums, 49 historic Christian churches and 64 mosques are open for visiting in Istanbul, and on the city streets, you can see an old fortress wall or an antique aqueduct. In specific periods of history, the city was considered one of the most important centres of the ancient, Christian and Muslim world.
- The city infrastructure is modern; new business buildings organically coexist with historical sights.
- Tourism. The historical significance of the city and the reputation of being the cultural treasury of humanity makes it a popular tourist destination. Numerous shopping and entertainment centres (SEC Cevahir, operating since 2005, officially recognized as the largest in Europe), traditional markets and baths, national cuisine and low prices attract millions of travellers to the city annually.
- Climate. The city is in the subtropical zone, which makes it favourable for living throughout the year. The climate is mild. Even in winter, the temperature is mostly positive, from +3 to + 9 ° C falling below zero about 21 days a year; not every winter sees snowfalls. Heat above +35 ° C also happens infrequently, which will be a significant plus in the conditions of a subtropical city. Although all residential complexes have high-quality heating and air conditioning systems, it is not always necessary to use them.
- Shopping. Turkey is one of the centres of world industry. Prestigious brands, such as Zara, Colin's, Koton, ADL, LC WAIKIKI, are sewn here, mainly well known for clothing and leather products - jackets, shoes and bags. Therefore, the quality of things in stores of famous brands in Turkey is often higher than in Europe and Russia.
- The colour of traditional oriental bazaars The famous Grand Bazaar is an old market, recognized as one of the largest in the world and occupying 61 streets. Shopping tours to Istanbul are one of the popular excursions for tourism. During your absence, you can rent an apartment for lovers of shopping.
- Visa-free visits to Turkey. Trips to Istanbul for up to 90 days, no paperwork is required - a valid passport is enough. And after buying a property, its owner receives a residence permit.
- Owning real estate in Turkey is recognized as the basis for obtaining citizenship. You can apply for citizenship after five years of owning an apartment or other property, or earlier if a property costs more than 250 thousand euros.
- The procedure for acquiring an apartment in Turkey is considered relatively simple (due to the small number of required documents than in some Western countries) and legally safe. You will need a passport, a photocopy of it, six photos 3.5x4.5 cm, a Turkish tax number and a bank account in this country. It is possible to conduct transactions by proxy.
The demand for renting one-room apartments in Istanbul is consistently high regardless of the season. Real estate can become a constant source of income amounting to 7-9% of the value of the apartment annually if you decide to rent it. We can also organize details relating to renting a property.
FACTORS AFFECTING COST
The price of real estate in Istanbul depends on the following factors:
- New building or secondary housing, In this case, both economic and psychological factors influence the price. The decision to sell the property by the previous owner is often urgent, which forces a relatively low cost.
- New residential complexes take into account modern architectural and technical requirements and improvement criteria. We guarantee the quality of construction of our facilities. Regardless of your choice of property, we provide a free orientation tour when buying.
- The footage of the apartment. One-room apartments in Istanbul can vary significantly in size, the larger the apartment, the higher the price.
- The location. The price is affected by the proximity of the apartment to the main transport arteries of the city, its historical centre and major attractions.
- The prestige of the area, location and the level of comfort of the residential complex are significant. A secondary housing apartment at the intersection of tourist paths can sometimes be cheaper than a similar living space in a comfortable business village on the quiet outskirts of Istanbul. In this case, you pay for the standard of living and a safe environment - and can monetize investments by renting housing.
- The apartments level in the building affects the cost, the ease of entry and exit from the residential complex, the view from the window and the distance from noisy public places.
- Architecture and design are not only aesthetics but also the convenience of housing depends on the elegant architectural solutions. New buildings take into account the different level of needs of residents. The project team includes not only classical architecture but also landscape designers who create a comfortable environment in the area of the residential complex.
- The buildings are constructed, taking into account the principles of a barrier-free environment and equipped with convenient elevators, ramps and passages. The barrier-free environment makes houses not only suitable for people with disabilities but also owners with heavy bags, suitcases and prams, i.e. for all residents in any life situation.
- Additional amenities the residential complex has includes; swimming pools of various types (open, closed and child-friendly) landscape park, fitness and spa complexes, bathing complexes (sauna or traditional Turkish bath). Also parking, an on-site restaurant, shops and shopping centres, children's venues, cinemas, security system and many others.
AVERAGE PRICES FOR 1-ROOM APARTMENTS DEPENDING ON THE AREA OF THE CITY
The difference in housing prices, depending on the area of the city, can be significant.
The average cost of a 1-room apartment in a comfortable new building in one of the central districts of Istanbul, for example, Sultanahmet, Sisli, is about 125 thousand euros.
The proximity to the economic, tourist and transport hubs will make such a property a profitable business investment.
An apartment in a newly built residential complex on the outskirts of the city costs around 50 thousand euros. The distance from the centre is compensated not only by price but also by a well-maintained natural environment - parks and pools are part of the residential complexes.
The average price for a mid-size urban 1-room apartment will be approximately 80 thousand euros.
We provide purchase support from the beginning to the completion of the transaction.