Endeksa.com, a proptech startup in Turkey, has analyzed the real estate prices of Istanbul various neighbourhoods. The analysis shows prices in USD kept constant, despite rise in USD/TRY rates. Here are the TL increases in real estate prices in various neighbourhoods of İstanbul:
When adjusted to USD, they demonstrate that values are generally kept constant or even rose for a limited number of neighbourhoods in Istanbul.
This actually is a great sign for foreign investors of Turkish property. Many investors have been waiting for the bottom prices for Turkish real estate, to profit off the appreciation more. Seeing the crisis to not have a significant impact on prices clearly indicates the prices to recover and rise with the post-Corona economic recovery and boosts.
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