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Investor's Favorite Istanbul Neighborhoods |
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Friday, 01 February 2008 01:08 |
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The following list shows the change in sales prices of residential properties in different locations of Istanbul and the criteria used is the home prices per square meter observed on October 2006 and October 2007. The average price increase for the city from October 2006 to October 2007 is approximately 7.5 percent. Uskudar, a neighborhood located on the Asian side of the Bosphorus, is home to the properties that has gained 43.7% in value only during the past year. However, selling price to rent ratio at Uskudar is around 19 years and 10 months.
This means that the market price for a property in Uskudar is almost 238 times the current rent that can be obtained form the same property. This is not a good enough yield and price to rent ratio is well above the city average. The average sales price to rent ratio in Istanbul is currently around 14 years and 11 months.  | October 2006 - October 2007 Residential Property Prices per sqm in Istanbul | |  |  |  |  | | Neighborhood | Average price per sqm | Average price per sqm | Change | |  | October 2006 | October 2007 | % | | Avcilar | 742 | 949 | 27,9% | | Bahcelievler | 1.388 | 1.304 | -6,1% | | Bakirkoy | 2.276 | 2.469 | 8,5% | | Bagcilar | 920 | 1.181 | 28,4% | | Beykoz | 2.125 | 2.816 | 32,5% | | Beyoglu | 2.679 | 3.643 | 36,0% | | Besiktas | 3.664 | 3.884 | 6,0% | | Buyukcekmece | 1.071 | 1.155 | 7,8% | | Esenler | 1.415 | 1.358 | -4,0% | | Eyup | 2.248 | 3.045 | 35,5% | | Fatih | 1.565 | 1.473 | -5,9% | | Gaziosmanpasa | 890 | 1.129 | 26,9% | | Gungoren | 1.164 | 1.230 | 5,7% | | Kadikoy | 2.030 | 2.269 | 11,8% | | Kartal | 1.215 | 1.339 | 10,2% | | Kucukcekmece | 1.725 | 1.498 | -13,2% | | Maltepe | 1.126 | 1.383 | 22,8% | | Pendik | 1.225 | 1.275 | 4,1% | | Sariyer | 3.454 | 3.504 | 1,4% | | Silivri | 987 | 1.370 | 38,8% | | Umraniye | 1.447 | 1.547 | 6,9% | | Uskudar | 1.650 | 2.371 | 43,7% | | Sile | 1.760 |  |  | | Sisli | 2.033 | 2.550 | 25,4% |
Source: Hurriyet Emlak |
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Last Updated ( Sunday, 03 February 2008 04:51 )
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