Earthquake fears are changing the housing market in Istanbul. Buyers are increasingly avoiding old buildings in central districts and are turning their attention to newer construction on the city's outskirts. The trend is intensifying after a series of collapsed buildings and amid growing attention to the structural sustainability of homes.
The shift in demand is particularly noticeable in the central districts of Besiktas, Sisli and Kadikoy, where a significant portion of the housing stock is 50-60 years old. Despite the good infrastructure and proximity to the main business areas, buyers are increasingly putting the safety of the building ahead of its location.
According to the Turkish specialized publication Ticarigm360, among the preferred alternatives are Başakşehir, Bahçeşehir, Arnavutköy and Beylikdüzü on the European side of Istanbul, as well as Kartal, Pendik and Kurtköy on the Asian side. These areas attract interest with newer housing complexes, parking options and improving transport links.
The change in attitudes is observed against the background of a decline in transactions with already existing homes. According to data from the Turkish Statistical Institute, in the first eight months of 2026, second-hand property sales in the country decreased by 9.2% year-on-year to 642,135. In new construction, the decrease was significantly weaker – 1.4%, up to 308,394 transactions.
These figures apply to the whole of Turkey, not just Istanbul, and cannot be explained solely by the fear of earthquakes. However, they show weaker activity in resales compared to the new housing market.
Additional pressure on the old housing stock is exerted by repair and maintenance costs. Depreciated installations, problems with elevators, roofs and facades increase the necessary investments after the purchase. In central districts, the lack of parking spaces is also becoming a factor in choosing a home.
A study by the Central Bank of Turkey, published in December 2025, confirms that seismic risk is already having a measurable impact on property prices in Istanbul. The analysis found that after the devastating earthquakes in Turkey in February 2023, house prices and rents increased more slowly in neighborhoods with higher seismic risk compared to safer areas.
The study also shows that homes built before the introduction of Turkey's 2007 building codes are selling at a significantly larger discount in areas with high earthquake risk compared to newer properties.
Concerns about the condition of buildings also intensified after the incident on October 8, 2026, when part of a seven-story residential building collapsed in the Maltepe district of Istanbul. The incident has once again drawn attention to the need to renovate the old housing stock and to urban transformation programs.
According to representatives of the real estate sector, buyers are now paying more attention to the year of construction, the materials used, the structural condition and the possible costs of strengthening. However, the age of the building is not a sufficient indicator of its safety, as the quality of execution and compliance with construction requirements are important.
Thus, the housing market in Istanbul is gradually being divided not only according to location and price, but also according to the assessment of seismic risk. For owners of older homes, this could mean longer sales and greater pressure for price discounts, while newer and structurally sound buildings gain an additional advantage in attracting buyers.
Detailed statistics on average property prices in Bulgaria by city and neighborhood can be found at imot.bg