Some Turkish websites announced data about real estate prices in Istanbul’s Princess Islands and according to this data the average real estate price in the Princess Islands reached 725 thousand and 160 TL.
According to the data, the average total area of real estate in the Princess Islands was 120 square meters and the average price per square meter was 6043 TL, while the average payback period was 31 years.
In the Istanbul’s Princes’ Islands, there are many villas and properties of different sizes from 1+1 to 5+1.
The highest average price in Burgazada
The average price of a 1+1 property in Princess Islands was 405 thousand 27 TL, while the average gross area was 63 square meters and the average payback period was 29 years.
For 2+1 properties, the average price was 473,705 TL, the gross area was 85 square meters, and the payback period was 27 years. The average price of a 3+1 property was 720,720 TL, while the gross area was 120 square meters, and the payback period was 31 years.
According to the data for February 2019, the price per square meter on Burgazada island was 12,151 TL, on Heybeliada island 6,588 TL,and on Kınalıada island 7,797 TL, while on Büyükada island the price in the Madin neighbourhood was 5,872 TL and in was Nizam neighbourhood 5,819 TL.
The average rent of a 63 square meter property was 1,719 TL, and the average rent per square meter was 18 TL.
Prices increased by 10.88% Last year
Last year real estate prices in Istanbul’s Princes’ Islands rose by 10.88%. Considering the annual averages of price increasing, the neighborhoods that gained the most value in real estate in Princes’ Islands as of the end of February 2019 were Burgazada, Kınalıada, Nizam, Maden and Heybeliada, respectively.
When the payback period was considered, the neighborhoods with the shortest period in Princes’ Islands were Heybeliada, Maden, Nizam, Burgazada, and Kınalıada, respectively.
Edit By: Realty Group