There has been observed a rise in prices for residential real estate in Istanbul. Houses with a garden and large balconies located in the coastal areas of the capital have significantly risen in price. Demand for spacious homes further from the city center is also continuing to grow. The following districts have become the most popular among buyers of Istanbul real estate: Sariyer, Buyukcekmece, Çatalca, Silivri, Arnavutköy (European part of Istanbul); Beykoz, Şile, Çekmeköy (Asian part of Istanbul).
According to Hürriyet Emlak, citing experts on the Turkish real estate market, from February to May 2020, the average price per square meter of housing in Istanbul increased by 9.6 percent while the demand for houses with terraces and a garden doubled. Over the past three months, prices for villas, land plots and apartments with a garden in Istanbul have increased by 20 percent and there is a trend towards the development of green residential areas in the suburbs of Istanbul.
Mustafa Hakan Oselmacikli, CEO of Altin Emlak (Istanbul): “The average price per square meter in Istanbul has grown from 3,600 TL to 3,800 TL, while the cost of rent per square meter has increased from 16 TL to 19 TL. Detached houses with a garden located in the suburbs of Istanbul are in great demand."
Which districts in Istanbul are more preferred by foreign buyers of real estate in Turkey? Para Magazine names Beylikduzu, Esenyurt and Bahcesehir.