Istanbul is one of the most vibrant and dynamic cities in the world, with a rich history, diverse culture, and booming economy. It’s no wonder that many people are interested in buying property in Istanbul. However, the city is also known for its high property prices, which can be a barrier for some buyers. In this blog post, we will explore the options available for those looking for cheap properties for sale in Istanbul.
The Average Property Prices in Istanbul
Before we dive into the options for cheap properties, it’s important to understand the average property prices in Istanbul. According to a report by the Turkish Statistical Institute, the average price per square meter for properties in Istanbul is around 7,500 Turkish Lira (TL) (approximately $900). However, prices can vary greatly depending on the location, type of property, and other factors.
Options for Cheap Properties in Istanbul
Despite the high average property prices in Istanbul, there are still options available for those looking for cheap properties. One option is to look for properties in the suburbs or outskirts of the city. These areas are often less expensive than central Istanbul but still offer good transportation links and amenities.
Another option is to look for properties that require some renovation or updating. These properties can often be purchased at a lower price and then improved to increase their value. However, it’s important to factor in the cost of renovations when considering the overall price of the property.
Finally, buyers can consider purchasing properties that are still under construction or in pre-construction phases. These properties are often sold at a discount to early buyers, making them a good option for those looking for a cheap property in Istanbul.
While Istanbul is known for its high property prices, there are still options available for those looking for a cheap property. By considering properties in the suburbs, those in need of renovations, or those in pre-construction phases, buyers can find affordable options that meet their needs and budget. With the right research and guidance, anyone can find their dream property in Istanbul without breaking the bank.