Istanbul Property Prices: Why They Double from One Neighbourhood to the Next

In Istanbul you can find two flats of the same size, one at a given price and the other at three times as much, an hour's drive apart. Understanding these differences properly is what lets you pay the right price for the right place.

Istanbul: cities within a city

Istanbul is home to more than 15 million people in 39 districts across two continents. Each district has its own economy, character and prices. The right question is not “What is the price per square metre in Istanbul?” but “What is the price per square metre in this neighbourhood, for this type of property?”.

The factors behind the differences

1. Proximity to centres and the sea

Central and Bosphorus-front neighbourhoods on both the European and Asian sides are the most expensive, followed by neighbourhoods close to business districts. The further out you go, the lower the price.

2. Transport

Being close to the metro, the Metrobüs or Marmaray clearly raises price and demand, because traffic makes time a currency in Istanbul. See the Istanbul transport guide.

3. Building age and quality

Istanbul is one of the highest earthquake-risk areas in Turkey. Modern buildings permitted under the 2018 code are valued more highly, while older ones need inspection. See the earthquake building safety guide.

4. Type of project

Modern complexes with full amenities on the outskirts compete with older flats in central neighbourhoods. You choose between a central location and modern amenities.

5. Urban transformation

Projects that demolish and rebuild old buildings are changing the face of entire neighbourhoods, and affect the prices of buildings earmarked for them. See the urban transformation guide.

A look at the areas we work in

• Başakşehir: modern family complexes and the City Hospital. See the Başakşehir guide.
• Beylikdüzü and Büyükçekmece: western coastline and the Metrobüs. See the Beylikdüzü guide.
• Esenyurt: the lowest prices and a large supply. See the Esenyurt guide.
• Arnavutköy: land and projects near the new airport. See the Arnavutköy guide.

A note on residence permits

Some Istanbul neighbourhoods are closed to registering foreigners' addresses for residence purposes. If residence is your goal, check the neighbourhood before reserving. See the guide to closed neighbourhoods.

How to compare smartly

1. Choose the side and district based on work, schools and transport.
2. Compare within the neighbourhood: size, floor, age and amenities.
3. Factor in monthly fees in complexes.
4. Rely on the valuation report before completing.

Summary

In Istanbul, the buyer pays for location, time and safety. A high price in the centre may be justified, and a low price on the outskirts may be an opportunity or a trap depending on transport and the developer. Compare within the neighbourhood, not across the city.

You'll find up-to-date median prices on the Istanbul page, and new projects on the projects page. Contact us to compare specific properties.