The giant projects such as the bridges, tunnels, metros, Istanbul’s third airport, and the cultural transformation projects contribute to raising the real estate value of the city of Istanbul. For that, the real estate prices in the city rose up twice, during the last three years, since the total value of the current real estates of the city is 1.5 trillion.

 Mr.  Gökhan Karahan, the operations manager of the global Re/Max Turkey real estate company, stated that the total real estate value in Istanbul, excluding the villas on the strait’s coast, amounted to 665.5 billion Turkish Liras in 2013, Yet, this value increased as a result of the giant projects and the cultural transformation projects to amount 1 trillion and 139.2 billion Turkish Liras in 2016.

According to the data provided by Mr. Karahan, the difference in the city properties value during these three years is about 473 billion and 600 million Turkish Liras. Mr. Gökhan stated that there were approximately 3 million and 100 thousand units in 2013, and as a result of the cultural transformation projects, the number raised to 200 thousand units.

Mr. Karahan added that the main reason behind the rising of the real estate value in Istanbul is the giant projects rather than the increased number of the properties. If we add the value of the land to the total value of the city properties, then the total value of the city properties becomes 1.5 trillion Turkish Liras.

In terms of figures, the rate of the properties' prices in Istanbul that was affected by the giant projects reached 71% during 2013-2016. The cultural transformation projects and the establishment of new transportation lines should also be added to the up mentioned reasons of the value raising.

During the last three years, within Silivri district, the prices rose by 91% due to Istanbul Canal Project, which may pass though the region.

Furthermore, Kadıköy witnessed a rise reached 92% during the same period, while in the Ataşehir, the raising reached 102%. The reason behind this raising is the expansion of branded real estate projects, "branded properties" which is the most lucrative properties in the city.

The table below shows the price raising during the last three years in Istanbul:

District

Property price of 100 m2 in 2013

Property price of 100 m2 in 2016

Price rate raised during the three years

Adalar

369000

560000

52%

Arnavutköy

105500

191000

81%

Ataşehir

218400

441500

102%

Avcılar

154500

224200

45%

Bağcılar

168800

262300

55%

Bahçelievler

188000

354500

88%

Bakırköy

484500

777200

60%

Başakşehir

186000

348000

88%

Bayrampaşa

189400

301500

59%

Beylikdüzü

123400

219000

77%

Beyoğlu

358400

439000

22%

Büyükçekmece

139000

257000

85%

Çamlıca

118000

203500

72%

Çekmeköy

135300

276800

81%

Esenler

182500

258000

41%

Esenyurt

102000

169200

66%

Eyüp sultan

172000

299500

74%

Fatih

193600

382000

97%

Gaziosmanpaşa

148000

257000

74%

Kadıköy

401500

770000

92%

Kağıthane

184000

329000

79%

küçükçekmece

143400

265800

85%

Mltepe

193600

378900

96%

Silivri

104100

199000

91%

Şişli

295500

504100

71%

Şile

149500

275000

84%

Sultanbeyli

154200

252500

64%

Sultangazi

130800

226400

73%

Ümraniye

178800

329000

84%

Üsküdar

212500

411000

93%

Zeytinburnu

181000

356000

81%

Center of Istanbul

208000

356000

71%