House prices in the cheapest and most expensive districts of Istanbul have been announced. The cheapest house in Istanbul located in Esenyurt and Arnavutköy. Where are the cheapest and most expensive houses in Istanbul?
Real estate data analysis platform Endeksa announced according to the study of housing prices in the districts of Istanbul that the most affordable houses are in Esenyurt and Arnavutköy.
In Esenyurt, where is lowest-priced housing, square meter average price is 2,209 TL.
Among the districts following Esenyurt is Arnavutköy with 2,240, Silivri with 2,300, Beylikdüzü with 2,322, Sancaktepe with 2,350, Sultangazi with 2,350, and Sultanbeyli with 2,493 TL.
The number of foreign investors is increasing
As a result of reducing interest rates on housing loans by public banks to 0.99% per month and extending their maturities to 180 months, the real estate market, which has been on hold for a while, triggered.
Foreign investors are increasing their real estate investments in different districts, especially in Istanbul due to the increase in interest rates in Turkey.
Land prices near to Northern Marmara Highway, which is expected to be completed in the coming months and connects the eastern end and west of Istanbul to Edirne and Çanakkale, have risen.
The value of the real estate market in the areas of Istanbul, which extends westward from the North Marmara Highway and Istanbul Airport, is increasing. The trading in Arnavutköy, which located near the new airport, has increased. However, Arnavutköy followed by Çatalca and Silivri.
The western section of Silivri from the North Marmara Road project is expected to open next month. Also, a massive influx of immigration and investments are expected to Çatalca, Silivri, and Çorlu. In this context, immigration will increase the demand for real estate.
Besides, the completion of the remaining part of the Istanbul Canal project to the east of this region by 2023 will further accelerate development and housing in this region.