A view of the Bosporus view is the most important factor that affects home prices in Istanbul's Arnavutköy district, a favorite with those who want to live hand in hand with history on the Bosporus coast. There is a big price difference between a house with a full view of the Bosporus and a house that barely sees it.
Arnavutköy is located between the districts of Kuruçeşme and Bebek on the European side of the city. The district borders Ulus and is opposite the districts of Kandilli and Vaniköy, located across the Bosporus on the Anatolian side. The district, with the most beautiful view of the Bosporus, also features a bay and flora found only near the Bosporus.
“The price of a mansion sold in the near future is taken as the base price in such popular areas as the Bosporus. The view of the Bosporus increases the price of houses by $200,000 to $250,000,” said Nurettin Bolluk, owner of NBR Emlak.
“We expect house prices to rise with the coming of spring. Purchases generally take place for ready money around these districts. The number of those who buy with housing loans is quite a few given the fact that the houses are addressed to a certain class of people. The firms, on the other hand, grant credits for the purchases via the companies, which want to keep the cash money safe,” added Bolluk.