Are apartmens in Istanbul expensive?

When we say “expensive” we always compare it with something else.

Therefore, a reasonable question would be: “expensive compared to what?”

There are various possible answers here:

• Expensive compared to what it was before

Yes, of course, prices have risen because the country is developing, the city is developing, the standard of housing is becoming higher, which certainly entails an increase in value and makes it attractive for investment

• Expensive compared to other cities in Turkiye

Yes, it’s expensive, but this is Istanbul and in principle it cannot be compared with other cities in Turkiye.

For me, the primary evaluation criterion has always been liquidity.

If real estate is liquid at a high price, then it is a good investment.

You can buy cheap, illiquid real estate in the provinces as much as you want and not earn anything from it or you can buy an apartment in Istanbul and make profit in the shortest possible time.

To understand that real estate in Istanbul is liquid, it is enough to look at the statistics.

As of the end of 2022, the total population of Turkiye was 85,279,553 people. 15,907,951 people officially live in Istanbul, which is 18.65% of the total population of Turkiye (this does not include visitors and migrants).

It is the most populous city in Turkiye. With such a population, it is clear that the demand for real estate here is always very high.

Istanbul is also one of the largest cities in the world and can only be compared with other large cities.

Here are some price analytics of several major cities compared with Istanbul.