Table of Contents
Are you looking for the cheapest apartment in Istanbul?
Do you find that the real estate offers that you receive are overpriced and not worth those prices?
Do you want the best residential and investment property with excellent finishes, close to transportation, the city center and the sea within your limited budget?
So this article is directed to you and I advise you to read it to the end because the information in it is not circulated and published to the public.
For the researcher looking for the first question, which is the cheapest property in Istanbul, let’s assume the request is a property with two bedrooms and a hall. We can find a property at a price of 25 thousand dollars in Istanbul.
As for the exaggerated real estate prices, this thing can be estimated after fully evaluating the advantages of these properties through correct factors that we will talk about today.
As for the last question, the answer to it is of course no, and if you have been searching for this property for many years, you are in fact only wasting your time and effort.
And we come to the most important question, which is what are the factors affecting real estate prices in Istanbul?
When you ask for a cheap property in Istanbul and find your request, then the real estate consultant will hide the defects of this property from you until the purchase process is completed and get its purpose, and then it will disappear completely to avoid facing your many questions about the negatives that you discovered now after you bought that property.
At the same time, there are people who want to buy a property in Istanbul and are fully aware that within their limited budget, it is not possible to obtain a property with excellent specifications, and this is normal for every person. to our company standards.
But our conversation today is for people with a budget that may be limited or a high budget, and at the same time they fully believe that an intensive search for a property with full benefits within a low budget is possible. For these clients, we would like to mention the factors affecting real estate prices in Istanbul to protect them from the frauds that we hear about. From time to time.
1- Real estate website
The cheap property that I found to which municipality of Istanbul belongs? Remember that the further away from the center of Istanbul (the Bosphorus), the real estate prices will be cheaper. When you get a cheap property in the Esenyurt district, west of Istanbul, or the Tuzla district, east of Istanbul, you actually got the farthest property from the center of Istanbul, and if going to the center of Istanbul does not matter to you, you should You know that real estate far from the center has several negatives, the most important of which are:
- Most of them are not suitable for investment because the supply is large and the demand is little.
- These neighborhoods have low standards of living and a high level of crime.
- Infrastructures are not as well taken care of as in central areas or near the center.
- The quality of life in general is much lower compared to the central areas
If you realize these points and are happy with the price you got, let’s move on to the second factor:
2- Quality of construction and cladding
There are hundreds of types of building materials, insulation, floors, doors, locks, kitchens, bathrooms, etc.
The modern era has taught us not to judge by shape because any substance or element can be manufactured with several different levels of quality while maintaining the same shape, and therefore will you really be able to discover the quality of the cheap drug you got just by walking around it for a few minutes?!
You will be surprised by the many breakdowns that will happen from time to time and the high repair costs. You will also discover things that you did not pay attention to when you walked around the house quickly.
Thermal insulation may be of low quality and therefore your property will not keep warm in the winter and cold in the summer, and the noise insulation may be of low quality or not at all, and therefore imagine the size of the inconvenience when there is a party at a neighbor and even ordinary speech can be It arrives at you and you can’t just relax and have some peace in your home!
There is no need to elaborate more. Everything you see in the cheap real estate was chosen to save the largest possible costs and thus the possibility of offering the property at a cheap price while maintaining a high level of the real estate developer’s profits.
Do you mean that the cheap real estate also includes a large profit margin?
Of course, no real estate developer will create a project with low real estate prices at the expense of its expected profit, the cheaper price is equal to the cheaper materials.
3- Is the property within a residential complex or not?
Green spaces, playgrounds, swimming pools, sports clubs and cleaning services are seen by many customers as unnecessary expenses (and the real estate consultant wishing to sell these cheap properties may alert customers to this point), and therefore they decide to buy a property outside a residential complex without paying attention to the following points:
- Protection and monitoring services around the clock ensure the safety of you and your family in a strange city that you often do not master its language and its residents do not master another language.
- Your children can spend recreational times in these playgrounds instead of playing in dangerous neighborhoods where cars pass and where there may be cases of kidnapping.
- Thieves do not even try to steal apartment complexes, while they have the opportunity to steal buildings without supervision or protection.
- Residential complexes are more desirable for rent than stand-alone buildings, and therefore the return in them is more high (even if we compare the prices of independent buildings and complexes, we will find the return in the complexes is higher as a value and percentage as well).
- Residential complexes are more desirable to buy and therefore you will be able to sell your property within the complex more easily than normal buildings (this does not differ with the idea that properties far from the center are more difficult to sell than central properties).
- Residential complexes are earthquake-resistant, and building permits are provided on this basis, while ordinary buildings return to their ability to resist earthquakes according to inaccurate standards, and therefore they are not as safe as residential complexes
4- What are the surrounding services?
The more real estate in a particular neighborhood and the fewer services, the lower the price of these real estate is due to the law of supply and demand. Therefore, when you find a cheap property in the neighborhoods of Esenyurt or Silvery, remember to check the surrounding services, such as transportation, medical and educational centers, and shops that meet your needs without having to travel long distances. .
5- What is the surrounding terrain?
Some may consider this factor just a filler or that it is exaggerated, but when you learn about the nature of Istanbul’s topography, you will find that it was built on 7 hills, and therefore the decrease and rise in it is normal in many neighborhoods, but is this suitable for you and your family?
For example, the Eyup and Kaitehana areas are areas close to the center of Istanbul, but some of their neighborhoods have really great highs and lows, and this reduces the desire of the tenant or the buyer’s desire later to obtain a property with these specifications, and therefore when you hear that the property is in the Eyup or Kait Hana area and is 15 minutes away Just about the center of Istanbul, this does not mean that you lose sight of the path that you will take to reach the center.
6- The property is on which floor?
The property on the ground floor or underground is known to be the cheapest at all. After that, the higher we rise in the floor, the higher the price per square meter.
7- What is the view?
In projects that have a sea view or a normal open view, the properties with a wider angle view are of the highest price.
Therefore, when you search for the price of a property without a sea view and compare it to a property from the same complex with a sea view, you will find a difference in prices of up to 40%.
8- What is the future of construction in the region?
If you got a property with an open view, but after a period of time, the construction of a new project began that obscures the view you obtained and thus reduces the desire of the tenant or the one who wants to buy later from you when you want to resell.
Are you happy that you got a remote and cheap property and the road to it never gets crowded even during rush hours?
So wait a few years for construction to be completed in the area and think again.
Compare the photos below for the same neighborhood after 6 years and note the overcrowding:
9- Is the project ready or under construction?
In fact, the fact that the project is under construction means that it is an investment (if all other investment conditions are met). At the same time, the price in it will be cheaper than it will be when it is delivered.
At the same time, buying in an under construction project is very risky if all the details related to this topic are not taken into account. We have written two articles about off-plan properties that you can refer to for more information.
10- What is the difference between gross area and net area?
In complexes with many services, this difference is justified by distributing the area of recreational facilities and gardens to all apartments in the residential complex, but what about complexes that do not include services and green spaces, and there is a big difference between the total area and the net area!!
Remember that you pay the gross meter price, not the net, and therefore the unjustified large difference is not in your interest.
There are a lot of other detailed points of medium importance that you can learn about by contacting us and getting a free consultation.