The most expensive real estate districts in Istanbul.. know it

Created: 2022-02-12
Last Updated: 2024-04-25
Views: 2874

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The factors affecting the price and value of each area in Istanbul:
The most expensive areas in Istanbul :

Many investors are wondering about the most expensive areas In Istanbul, although real estate prices in Istanbul are steadily increasing from year to another, the fact that is confirmed by recent statistics figures, there are some areas that are more expensive than others.

There are several criteria that control the degree of the price of each area over the other. If there is one or more factor in one of the areas, it is a major reason for the increase of its price, and the more the area combines with more than one factor, the higher its real estate value will be.

The factors affecting the price and value of each area in Istanbul:

1- The historical roots of the region: the more the region contains historical monuments back to the Roman and Ottoman era, the higher its purchasing value will be.

2- The closer the area to the center is and its distance from it, the higher prices will increase, especially its close to the Bosphorus.

3- how much far from the sea, as much as near to the sea, the price also will be change, and the sea itself has its levels, in order of their price value from the most expensive to the least expensive: (Bosphorus - Black Sea - Sea of Marmara).

4- How many sovereign institutions are there in the area; The presence of sovereign institutions such as embassies in some areas increases their purchasing value.

5- Urban planning and the social class that live in each region, the more the state cares about some areas in terms of urban planning, planted, widening its roads and providing it the infrastructure facilities in it, as well as the quality of the social class residing get different in each region.

6- The nature of each area. Each region has a general character. There are touristic areas, commercial and economic areas, and other areas for residential.

These are the most important factors influencing the prices of the areas. And the following list are the most expensive areas in Istanbul, as spotted by some Turkish press reports and the Turkish real estate market.

The most expensive areas in Istanbul :

1- Besiktas real estates

Besiktas is the most expensive area in Istanbul, and according to the real estate index data that issued In October 2021, Besiktas ranked in the first place, with a price reaches to 27,521 TL per square meter, to be the most expensive average for sale in all Turkey not just Istanbul.

This price came due to several reasons, first Besiktas is the heart of the old center of Istanbul. It is located directly in the middle of the Bosphorus in the European side, which makes it close to all other areas in Istanbul. It also includes the historical heritage of the Ottomans with the presence of Dolmabahce Palace and Ciragan palace. Yildiz Palce, which are a touristic attraction, Besides the presence of many sovereign and sensitive authorities such as foreign embassies and the old railway building, Besiktas, on the other hand, is the capital of culture, arts and education in Istanbul.

Besiktas region is characterized by the lining of luxurious mansions and villas its history back hundreds of years, so its residents are the Elite of Turkish people , so it is the most valuable region in the Bosphorus with the neighborhoods of Ortakoy, Arnavutkoy, Kurucecme and Bebek.

2- Sariyer real estates

Sarıyer has been ranked in the second place as the most expensive area after Besiktas in Istanbul, the price range is 27.517 Turkish lira per square meter, and it is one of the areas in which architecture is distinguished by luxury and history, as it is full of historical buildings of Byzantine and Ottoman architecture, and one of the most important landmarks there is the Emirgan Hotel The famous Grove, Sudberk Hanem Museum, and Fort Rumley.

Sariyer was historically known as "Simas", which means the holy mother, and was designated as a resting place for the Ottoman Kings, or as hunting and summer areas. Today, there are many consulates and embassies for Germany, Austria, China, Russia, the United States and Poland, which are embassies since the reign of Abdul Hamid II, along with The Presidential Summer Residence currently exists.

The elite and the wealthy Turkish live in Sarıyer, and its beaches extend on both the Bosphorus and the Black Sea. Beside the historical aspect, Sarıyer’s importance is due to the presence of the Maslak economic district, which is the capital of businessmen and the first center for the headquarters of all international and multinationals companies in all Turkey, while in the north it is home to luxury villas.

3- Kadikoy real estates

Kadikoy, located in the Asian side of Istanbul, and it is one of the best and most expensive places to live as well.

Kadikoy means "the village of the judge" in Turkish, and historical is back to 635 BC.

The price per square meter in the areas of Bakirkoy, Kadikoy, Beykoz and “Adalar” the Princess islands in Istanbul ranges between 17 thousand and 14 thousand Turkish liras per square meter, they are at the same price level as the purchasing value

Kadikoy is distinguished by its location on the Sea of Marmara, with direct views of the Princess Islands, and it is one of the old districts of Istanbul that its roots back to the Ottoman era. There are many historical sights like Aya Ephemia Greek Orthodox Church, built in 1694, Also there are the bull statue designed by a French artist in the 1860s.

4- Beykoz real estates

The history of this district back to 900 BC, and it is one of reasons for its presence among the most expensive areas in Istanbul, because it occupied an important place in the history of the Ottoman Empire. It was a destination for Ottoman Kings for hunting, the beautiful hunting lodges were built in Beykoz for kings and their men. Until the last period of the Ottoman Empire, Beykoz was famous for hunting parties and it was a markable of the Turkish Elite.

Also, the location of Beykoz is one of the most important reasons for classifying it as the most expensive real estate area in Istanbul, because it is located directly on the Bosphorus Strait from the Asian side and the Black Sea in the north, which made it like a fairy tale with its wonderful gardens, and its lush forests, which made it a favorite place for all the ruling classes From the sultans of the Ottoman Empire until now, and the presence of palaces in the Beykoz district is related development since the era of the Ottoman Empire. Therefore, Beykoz is classified as for elite and high-society people in Istanbul, and this is one of the reasons for its high real estate value.

5- Beyoğlu real estates

Beyoglu is one of the most important real estate investment districts in Istanbul, because it is the first touristic destination for all visitors to the city, and its historical origins go back to the era of the Byzantine state, in addition to its importance as a center of trade in the Middle Ages from the fourteenth century until the announce of the modern Turkish Republic.

The area includes Taksim Square and Istiklal Street, as well as its location as the entrance to Bosphorus. It includes one of the most important ports of Istanbul in Haydarpasa region. Also it was the main center for government institutions, diplomatic activities and financial center during the era of the Ottoman Empire. Beyoglu has a unique location by its presence between Bosphorus and Golden Horn, which facilitates access to all other areas in Istanbul. It is a first-class tourist area, as it includes Galatasaray Tower, Taksim Square and Istiklal Street, which is frequented by millions of tourists annually. In addition to its tourism importance, it is an economic and investment area, especially for real estate investment.

6- Bakirkoy real estates

Bakırköy, one of the oldest areas in Istanbul, the district age refers to 1500 years old has many historical and touristic places with its location on the coast of the city and its history dating back to ancient times.

The area, which was named Makriköy during the Byzantine period and Bakırköy after the proclamation of the Republic, The importance of Bakirkoy and its classification as one of the most expensive areas in Istanbul is due to a number of factors, including its location on the Marmara Sea, Sovereign authorities associated with the Turkish state such as Ataturk Airport, in addition to the presence of a number of tourist attractions in the region such as the Aquarium Museum, the Botanical Garden and Florya Garden, this is because it is the link between the old center of Istanbul and the new areas targeted by the state in recent times.

Despite the closure of this airport in 2018, the real estate value in this area was not affected, and Bakirkoy managed to maintain its commercial value, as well as the exhibition center there, which hosts many exhibitions every year, and attracts many investors to the area.

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