Istanbul ranks top for real estate prices in Turkey
Posted by meb at February 13th, 2007
SELMA ŞENOL
ISTANBUL – Referans
Just as one might expect, the highest real estate prices in Turkey are to be found in its commercial capital, Istanbul.
Research conducted by Referans Real Estate Index (REE) into Turkish real estate prices in December 2006 gave an average price per square meter of 1,875 YTL in Istanbul, followed by Ankara, 1,164 YTL; İzmir, 1,137 YTL, Bursa, 935 YTL; and Antalya, 854 YTL.
The most expensive district in Istanbul was Beşiktaş at 3,413 YTL per meter square, closely followed by Sarıyer at 3,334 YTL, with Beyoğlu, 3,227 YTL; Bakırköy, 2,373 YTL; and Şişli, 2,137 YTL next in line.
In Ankara, Çankaya kept its usual first place as the most expensive neighborhood at 1,339 YTL per square meter. It was followed by Yenimahalle at 1,044 YTL and Keçiören at 813 YTL.
Prices in İzmir were only a little below those in the capital, with Karşıyaka the most expensive district at 1,221 YTL per square meter, then Bornova, 1,128 YTL, and Konak, 1,039 YTL.
Istanbul is also the most expensive city to rent, with average rates of 11 YTL per square meter, followed this time by İzmir at 7 YTL; Ankara, 6 YTL; Bursa, 5 YTL; and Antalya, 4 YTL.
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