Istanbul Property Prices 2014

According to the central bank report, Istanbul property prices increased by 20 percent compared to the last year. 

The Data shows that THPI increased by 1.62 percent on a monthly basis and reached to 157.92 in June. Compared to the same month of the last year, in June 2014, THPI increased by 13.99 percent and by 4.42 percent in real terms. While house prices per square meter was 1,239.07 TL in 2013 June, and it reached to 1,405.43 TL in May of this year. 

New Housing Price Index (NHPI), that is calculated by analyzing valuation reports of newly built houses in last two years in 37 provinces of Turkey, rose by 1.54 percent in 2014 June compared to the previous month. Compared to the same month of the last year, in June 2014, index increased by 13.59 percent and by 4.06 percent in real terms.

For Turkey’s three large cities, house price indices increased by 2.35 percent, 0.76 percent and 1.69 percent in Istanbul, Ankara and Izmir, respectively, in 2014 June compared to the previous month. Compared to same month of the last year, index values rose by 21.38 percent, 10.27 percent and 12.95 percent in Istanbul, Ankara and Izmir, respectively.

Istanbul a new London for Arab property buyers

Russian and Middle Eastern investors are being lured to Istanbul to buy luxury real estate now that property laws have been relaxed, the economy is strong, prices are relatively cheap in comparison and Turkey is viewed as a safe haven

A new wave of wealthy investors from the Middle East and Russia is increasingly eyeing luxury developments in bustling Istanbul, lured by a relaxation in property laws, relatively cheap prices and a thriving economy.

A revision to Turkish property laws, announced in May, abolishes a reciprocity rule that only allowed investors from countries where Turkish nationals could buy real estate to buy property in Turkey. The bill also allows the government to double the amount of land foreigners can buy in Turkey to 600,000 square meters, although for now a limit of 300,000 square meters remains.

Turkish property prices marked the third-fastest growth in the world in the year to June, behind Brazil and Austria, surging more than 10 percent and outpacing Russia and Hong Kong, according to the Knight Frank Global House Price Index.

Rising prices and the prospect of relaxed rules for foreigners are fueling lofty ambitions in Turkish property circles for Istanbul to match the rapid rise of other newly fashionable property hubs such as Moscow, where prime real estate prices now rival London and New York.

Arab Spring draws big attention to Istanbul Property Market

Arab investors are now very much interested in buying property in Istanbul due to the political unrest in the Middle East and North Africa pushing Arab’s towards Turkey.

Wealthy Arabs generally can pay between $2 million to $30 million for luxury houses in top locations in Istanbul, whereas remaining Arabs look to spend between $70.000 and $250,000 for residence projects in outskirts of Istanbul.

One of the main reasons; ‘’Cultural Similarity ‘’ between Turkey and Arab countries and other religious connections play an important role for Arab buyers when deciding which country to invest in. Especially Turkish soap operas widely watched and followed in Middle Eastern countries also attract many wealthy Arab investors looking for luxury here. The country’s economic and political stability also encourages investors to consider Turkey for new investments.

Total Arab investments in Turkey totalled $10.6 billion last year as Arab’s looked to the Turkish real estate market to invest money in with a view to make a healthy profit.

''Musts'' how to pick a professional property agent before investing in Istanbul

Dear Visitors,

I got many inquiries about this topic from the property investors who invested in Istanbul with several property companies based out of Istanbul and then wanted to write this article for property investors to be well-informed for a better investment environment and not to have any single problem after you purchase. 

Frankly saying that there are only '' limited '' number of professional property agents in spite of the huge demand to invest in property in Istanbul.  Most of the companies on web ''Act'' like they have a knowledge about property market in Istanbul.  Once you choose these kind of  ''Only Web Based '' property companies , you will definately be ALONE after you get your title deed.

Please read the following advises before you proceed to have their service ;

* Mentioned '' Only Web Based '' companies  have no offices at all in Istanbul.  They insist telling to the clients that they have an office in Istanbul which is a '' Trick ''  because they only work with '' FREELANCERS'' who presents couple of companies at the same time , only to sell the project they have been promoting.  Please be sure that they will be invisible after the projects are completed !! 

So you should find a '' Trusted Company '' which has several offices with a dedicated property team.  Please go to their offices and find out that they are '' real or not ''.

You can contact with us to pick a professional property company. 

* Another important point is that you should definately find a  '' Trusted Company '' for PROPERTY RENTAL MANAGEMENT.  In Istanbul , the owners never pay property management fee to the estate agents to rent their properties because this fee is charged to TENANTS . 

 Therefore,  the company you will pick MUST have a office , already managing rental operations and provide you '' FREE RENTAL MANAGEMENT SERVICE''.

Please feel free to contact us about all your questions and to have a trustable service to invest in Istanbul Property

Best Regards

Melih Acikbas