Authored by the expert who managed and guided the team behind the Turkey Property Pack
Yes, the analysis of Istanbul's property market is included in our pack
Istanbul's apartment market offers diverse opportunities with prices ranging from $1,250 to $4,000+ per square meter depending on location and property type.
As of June 2025, central districts like Nişantaşı and Bebek command premium prices of €5,000-€7,000 per square meter, while affordable areas like Esenyurt offer entry points around €1,500-€2,000 per square meter. The market has experienced significant nominal growth over recent years, though real returns depend heavily on inflation trends and currency stability.
If you want to go deeper, you can check our pack of documents related to the real estate market in Turkey, based on reliable facts and data, not opinions or rumors.
Istanbul apartment prices range from $1,250-$1,800 per square meter on average, with luxury waterfront properties exceeding $4,000 per square meter.
The market shows strong nominal growth but faces inflation challenges, making district selection and timing crucial for investment success.
| Price Range | Districts | Investment Profile |
|---|---|---|
| €5,000-€7,000+ per sqm | Nişantaşı, Bebek, Şişli | Luxury, high-end rental market |
| €3,000-€5,000 per sqm | Beşiktaş, Sarıyer, Kadıköy | Prime residential, good yields |
| €2,000-€3,000 per sqm | Ümraniye, Kayaşehir, Zeytinburnu | Emerging areas, growth potential |
| €1,500-€2,000 per sqm | Esenyurt, Başakşehir, Beylikdüzü | Budget-friendly, family areas |
What's the current average price per square meter for apartments in Istanbul?
As of June 2025, apartment prices in Istanbul vary significantly by location and property type.
Central areas command $1,500-$1,800 per square meter (approximately €1,400-€1,700), while the citywide average ranges from $1,256-$1,930 per square meter. Luxury waterfront properties exceed $4,000 per square meter, representing the premium segment of Istanbul's residential market.
The wide price range reflects Istanbul's diverse neighborhoods and property standards. Modern developments and newly constructed apartments typically command higher prices than older buildings, even within the same district.
Currency fluctuations between the Turkish Lira, US Dollar, and Euro can affect these prices for international buyers, making timing an important consideration for property purchases.
How does the average apartment price vary across different districts and neighborhoods in Istanbul?
Istanbul's apartment prices show dramatic variation across different districts, creating opportunities for various budget levels and investment strategies.
| District/Neighborhood | Price per sqm (TRY) | Price per sqm (EUR) | Character |
|---|---|---|---|
| Nişantaşı, Bebek | TRY 100,000+ | €5,000-€7,000+ | Ultra-luxury, central location |
| Şişli, Beşiktaş | TRY 80,000-100,000 | €4,000-€6,000 | Prime business districts |
| Sarıyer | TRY 70,000-90,000 | €3,500-€5,000 | Waterfront, upscale residential |
| Kadıköy | TRY 60,000-80,000 | €3,000-€4,000 | Asian side, cultural hub |
| Başakşehir | TRY 35,000-45,000 | €1,700-€2,200 | Modern, family-oriented |
| Esenyurt | TRY 30,000-40,000 | €1,500-€2,000 | Affordable, suburban growth |
| Kayaşehir, Ümraniye | TRY 40,000-50,000 | €2,000-€2,500 | Emerging areas with potential |
Prime neighborhoods like Nişantaşı and Bebek represent the most expensive segment, attracting wealthy locals and international investors seeking prestige locations. These areas offer proximity to luxury shopping, fine dining, and cultural attractions.
Emerging districts like Kayaşehir and Ümraniye present growth opportunities with lower entry costs and planned infrastructure improvements driving future appreciation potential.
What are the average total apartment prices in Istanbul, including taxes, agency fees, and legal costs?
Total apartment acquisition costs in Istanbul extend beyond the purchase price to include various taxes, fees, and legal expenses.
A typical central apartment of 80 square meters costs $120,000-$144,000 for the property itself, while modern units in prime areas start from €150,000. Budget options in districts like Esenyurt begin around €45,000 for smaller units, and luxury apartments range from €500,000 to several million euros.
Additional costs typically include agency fees (2-3% of purchase price), legal fees (1-2%), property tax (0.1-0.3% of value), and title deed fees (4% of value, traditionally split between buyer and seller). New builds also incur VAT ranging from 1-18% depending on apartment size and specifications.
Total extra costs generally amount to 6-10% of the purchase price for resale properties, with higher percentages for new builds due to VAT obligations. International buyers should budget an additional 8-12% above the advertised price for complete acquisition costs.
It's something we develop in our Turkey property pack.
How have apartment prices in Istanbul changed over the past 5 years, past year, and what's the trend?
Istanbul's apartment market has experienced dramatic nominal growth over recent years, though real value changes tell a different story.
Over the past five years since 2020, apartment prices have increased approximately 20% annually in nominal terms, resulting in total growth exceeding 100%. However, when adjusted for Turkey's high inflation rates, real property values have remained relatively flat or even declined in some periods.
The past year from 2024 to 2025 saw nominal price increases of 29.6% in central areas, but real prices decreased due to inflation rates exceeding 40%. This creates a complex investment environment where property serves as an inflation hedge while potentially losing purchasing power value.
Current trends suggest continued nominal growth driven by urban population increases, infrastructure development, and limited supply in prime areas. The real value trajectory depends heavily on Turkey's success in controlling inflation and stabilizing the Turkish Lira exchange rate.
Foreign investors benefit from currency advantages when the Lira weakens, but face uncertainty from exchange rate volatility affecting long-term returns.
What are the 1-year, 5-year, and 10-year price forecasts for apartments in Istanbul?
Istanbul apartment price forecasts reflect both growth potential and economic uncertainties affecting Turkey's real estate market.
One-year forecasts predict 5-15% nominal growth in prime areas, with higher increases of 20-25% expected in emerging districts benefiting from infrastructure projects. These projections assume continued urban development and population growth supporting demand.
Five-year outlook suggests sustained nominal growth of 15-25% annually, though real returns depend critically on inflation moderation and economic stability. Infrastructure projects like the new airport, canal proposals, and transportation networks could drive significant appreciation in connected areas.
Ten-year projections lack official consensus, but Istanbul's fundamentals support long-term investment appeal. Population growth, urban renewal projects, and Turkey's strategic location between Europe and Asia create structural demand drivers. However, political stability, inflation control, and currency stability will significantly impact actual returns.
Investors should focus on location selection and rental income potential rather than relying solely on capital appreciation, given economic uncertainties affecting long-term price predictions.
Don't lose money on your property in Istanbul
100% of people who have lost money there have spent less than 1 hour researching the market. We have reviewed everything there is to know. Grab our guide now.
What are some recent examples of apartment purchase prices by area and size?
Recent apartment sales in Istanbul demonstrate the significant price variations across different areas and property types.
In Sisli/Osmanbey, a central 90 square meter furnished apartment recently sold for $220,000, representing approximately $2,444 per square meter. This reflects premium pricing for central locations with modern amenities and furnishing included.
Esenyurt new build developments offer entry-level opportunities starting from €45,000 for smaller units, typically 50-70 square meters. These properties target first-time buyers and rental investors seeking affordable options with growth potential.
Luxury projects in districts like Şişli and Eyüp command €330,000-€719,000+ for premium apartments featuring high-end finishes, building amenities, and prestigious addresses. These developments often include facilities like swimming pools, fitness centers, and concierge services.
Recent sales patterns show strong demand for move-in ready properties with modern specifications, while older buildings require renovation investments that should be factored into total acquisition costs.
Which areas in Istanbul are considered the most expensive, which are budget-friendly, and which are up-and-coming?
Istanbul's real estate landscape offers distinct tiers of pricing and investment opportunity across its diverse districts.
Most expensive areas include Nişantaşı, Bebek, Şişli, Beşiktaş, Sarıyer, and Beykoz, where luxury shopping, upscale dining, and prestigious addresses command premium prices. These neighborhoods attract wealthy Turkish families and international buyers seeking prestige locations with established amenities.
Budget-friendly districts encompass Esenyurt, Başakşehir, Beylikdüzü, and Pendik, offering affordable entry points for first-time buyers and rental investors. These areas provide modern housing developments, family-oriented communities, and good transportation connections to central Istanbul.
Up-and-coming areas include Kayaşehir, Sancaktepe, Ümraniye, and Zeytinburnu, representing emerging investment opportunities with planned infrastructure improvements and urban development projects. These districts offer moderate current prices with significant appreciation potential as development progresses.
Kayaşehir particularly benefits from new transportation links and planned commercial developments, while Ümraniye offers proximity to both Asian and European sides with ongoing urban renewal projects enhancing long-term value prospects.
What's the breakdown of average price per square meter by apartment type (studio, 1BR, 2BR, etc.)?
Apartment pricing in Istanbul varies by unit type, though market dynamics create some counterintuitive patterns compared to other international markets.
Available data suggests studios command approximately TRY 125,000-130,000 per square meter, while 2-bedroom apartments average TRY 11,761 per square foot, 3-bedroom units at TRY 10,339 per square foot, and larger 4+ bedroom apartments range from TRY 11,348-13,635 per square foot.
However, these figures require careful interpretation as market realities often differ from statistical averages. In practice, studios and 1-bedroom apartments frequently command higher per-square-meter prices in central locations due to strong rental demand from young professionals and students.
Larger apartments (3+ bedrooms) often offer better per-square-meter value within the same building or development, making them attractive for families or investors seeking space efficiency. Premium buildings may reverse this pattern, with larger units commanding premium pricing for luxury features and layouts.
Location significantly impacts these relationships, with central districts showing different pricing patterns than suburban areas where larger units may command proportionally higher per-square-meter rates due to family demand.
What are the financing and mortgage options for buying an apartment in Istanbul, and what do monthly payments look like?
Istanbul apartment buyers can access several financing options, though terms and availability vary significantly for domestic and international purchasers.
Developer installment plans offer attractive alternatives to traditional mortgages, typically requiring 20-50% down payment with the balance spread over 1-5 years. Many developers provide interest-free payment plans during construction phases, making new developments accessible to more buyers.
Bank mortgages require 25% minimum down payment with terms extending 5-20 years, though current interest rates remain high due to Turkey's inflation environment. As inflation stabilizes, mortgage rates may decline, improving affordability for financed purchases.
Monthly payment examples for a €150,000 apartment with 25% down payment and 15-year financing at 3% interest (example rate) would result in approximately €800-€900 monthly payments. However, current market rates may be significantly higher, requiring careful evaluation of actual financing costs.
Foreign buyers face additional restrictions and documentation requirements, with some banks offering specialized international buyer programs. Cash purchases remain common among foreign investors to avoid financing complications and currency exchange issues.
It's something we develop in our Turkey property pack.
What are the best options if I want to buy an apartment to live in, rent out short-term (Airbnb), rent out long-term, or resell later?
Istanbul apartment investment strategies should align with specific goals and target different districts for optimal returns.
For personal residence, consider central or emerging areas with excellent infrastructure and amenities like Başakşehir, Ümraniye, Kadıköy, or Şişli. These districts offer quality of life, transportation access, and community facilities suitable for daily living while maintaining good resale potential.
Short-term rental (Airbnb) investments perform best in tourist and business districts including Sultanahmet, Taksim, Nişantaşı, Beşiktaş, and Kadıköy. These areas attract both leisure travelers and business visitors, supporting higher occupancy rates and premium nightly rates throughout the year.
Long-term rental properties should target family-friendly or student areas like Başakşehir, Esenyurt, Ümraniye, and Kayaşehir. These districts offer stable tenant demand from families and young professionals seeking affordable, well-connected housing options with good schools and amenities.
Resale-focused investments should concentrate on emerging districts with major infrastructure projects like Kayaşehir, Sancaktepe, and Zeytinburnu. These areas offer current affordability with significant appreciation potential as planned developments enhance connectivity and desirability.
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Turkey versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you're planning to invest there.
How do apartment prices and ROI in Istanbul compare with similar large cities like Warsaw, Bucharest, or Athens?
Istanbul's apartment market offers competitive pricing and attractive returns compared to other major European and regional cities.
| City | Avg. Price per sqm (USD) | Rental Yield (%) | Market Characteristics |
|---|---|---|---|
| Istanbul | $1,250-$1,800 | 5-8% | High growth, inflation risk |
| Warsaw | $2,500-$4,000 | 4-6% | Stable, lower inflation |
| Bucharest | $1,500-$2,500 | 5-7% | Moderate growth |
| Athens | $2,000-$3,500 | 4-6% | Recovery market |
Istanbul provides significantly lower entry costs than Warsaw and Athens while offering competitive or superior rental yields. The city's 5-8% rental yields, with some areas achieving up to 11%, exceed most European capitals where yields typically range 3-6%.
However, Istanbul carries higher investment risks including inflation volatility, currency fluctuations, and political uncertainties that don't affect EU markets. Warsaw offers greater stability with EU membership benefits, while Bucharest provides similar emerging market characteristics with EU legal protections.
Athens represents a recovery market with established tourism infrastructure, though offering lower yields than Istanbul. Istanbul's strategic location, population growth, and development pipeline create superior long-term growth potential despite higher risk factors requiring careful consideration by international investors.
Based on today's market, what are the smartest choices for buying an apartment in Istanbul right now?
Current market conditions in Istanbul create specific opportunities for different investment strategies and living arrangements.
For personal residence, Başakşehir, Ümraniye, and Kadıköy offer optimal combinations of infrastructure, amenities, and community development. These areas provide modern housing with good transportation links while maintaining reasonable pricing compared to central districts.
Rental investment strategies should differentiate between high-end and moderate-income targeting. Central districts like Şişli, Beşiktaş, and Nişantaşı work best for premium rental markets, while Esenyurt and Kayaşehir offer affordable options with steady rental demand and growth potential.
Resale profit strategies should focus on emerging areas with confirmed infrastructure projects including Kayaşehir, Sancaktepe, and Zeytinburnu. These districts offer current affordability with planned improvements likely to drive significant appreciation over 3-7 year holding periods.
Short-term rental opportunities concentrate in tourist and business areas including Sultanahmet, Taksim, Nişantaşı, Beşiktaş, and Kadıköy, where consistent visitor demand supports premium nightly rates and strong occupancy throughout peak and shoulder seasons.
It's something we develop in our Turkey property pack.
Conclusion
This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.
Istanbul's apartment market in June 2025 presents compelling opportunities for various investment strategies, with prices ranging from budget-friendly €1,500 per square meter in emerging areas to premium €7,000+ per square meter in luxury districts.
Success requires careful district selection, understanding of local market dynamics, and realistic expectations about inflation impacts on returns, making professional guidance essential for optimal investment outcomes.
Sources
- InvestRopa - Buying Property Turkey Worth It
- Property Turkey - Turkish Property Prices Trend 2025-2028
- InvestRopa - Istanbul Average Apartment Prices
- Imtilak - Cheapest Apartment Prices Turkey
- Imtilak - Expensive Real Estate Areas Istanbul
- Properstar - Istanbul House Prices
- LinkedIn - Top 5 Emerging Neighborhoods Istanbul
- InvestRopa - Istanbul Which Area
- Global Property Guide - Turkey Price History
- InvestRopa - Turkey Price Forecasts