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Istanbul, Turkey

Q: How much is rent in Istanbul?

A 1-bedroom apartment in Istanbul rents for TRY 15,000/month in 2024.

Q: Is it better to buy or rent in Istanbul?

Buying may offer better long-term value in Istanbul. Price-to-rent ratio: 10.0x.

Property prices · 2024 · Middle East

Price/sqm — City Centre TRY 42,000

Price/sqm — Outside Centre TRY 25,000

1-Bed Rent / Month TRY 15,000

3-Bed Rent / Month TRY 28,000

Avg Mortgage Rate 28.50%

Price-to-Rent Ratio 10.0x Buying may offer better long-term value

Property price trend in Istanbul (2024–2026)

Property comparison — cities in Turkey (2024)

City	Centre /sqm	Outside /sqm	1-Bed Rent	vs Istanbul
Istanbul	TRY 42,000	TRY 25,000	TRY 15,000	—
Antalya	TRY 62,000	TRY 42,000	TRY 15,000	+47.6%
Izmir	TRY 55,000	TRY 37,000	TRY 14,000	+31%
Ankara	TRY 45,000	TRY 30,000	TRY 12,000	+7.1%
Bursa	TRY 38,000	TRY 25,000	TRY 10,500	-9.5%

Other Middle East cities (2024)

Frequently asked questions

How much does property cost in Istanbul in 2024?

In Istanbul, the average price per sqm in the city centre is TRY 42,000, and TRY 25,000 outside the centre (2024 data). Prices have risen 7% since 2024.

How much is rent in Istanbul in 2024?

A 1-bedroom apartment in Istanbul rents for approximately TRY 15,000 per month in 2024. A 3-bedroom apartment costs around TRY 28,000/month.

Is it better to buy or rent in Istanbul?

Buying may offer better long-term value in Istanbul. The price-to-rent ratio is 10.0x — it would take approximately 10.0 years of rental payments to equal the property purchase price. Current mortgage rates are approximately 28.50%.

What are mortgage rates in Turkey in 2024?

The average mortgage rate in Turkey is approximately 28.50% as of 2024. With a price-to-rent ratio of 10.0x, buyers should carefully weigh mortgage costs against rental savings.

What is the price per sqm in Istanbul?

The average property price per square metre in Istanbul city centre is TRY 42,000 in 2024. Outside the centre, expect to pay around TRY 25,000/sqm.