The Central Bank of Turkey announced this year’s real estate index. With the percentage of 26,60 Istanbul has had the highest increase rate in prices amongst other cities. The average price of Houses for sale in Istanbul has reached 3,261 Turkish Liras per square meter.
As the sales prices have risen, prices of Houses for rent have increased 6 percent per square meter. New public transportation projects and the urban transformation have had the most impact on the values of the properties in Istanbul. The city’s current depreciation time is 13 years and the district where has had the highest increase rate is Şişli with 6,5 percent per square meter. After Şişli, Silivri came second with 5,9 percent and Bağcılar had the third place with 3,7 percent.
Experts stated that Istanbul real estate prices keep rising and called out for the people who consider in buying a property in Istanbul not to waste any more time.