: 2016-03-02 Modified date : 2020-01-17
Bahcesehir, which is connected with the Basaksehir district, has attracted considerable interest from investors in the real estate sector, where in recent years has become an important center for attracting real estate investors. The district is witnessing a rise in real estate prices, especially in areas close to the lake. Observers expect real estate prices to rise by as much as 50 percent, after completion of the metro line project that will connect the district to the central areas of the city.
Real estate value of the district has increased in recent years thanks to the leading new real estate projects that have been established. In addition to these high-quality real estate projects, the presence of large green areas, with its calmness, made it one of the most favored areas for investors, it became as well one of the most important districts of Istanbul, and investors began to come to it with a noticeable increase, as reflected in the prices of properties, that saw a significant rise, where the price per square meter to 5000 liras after it was about 1500 liras.
The government is working to solve the problem of transportation, especially the lack of public transport linking the district to other vital centers in the city. This problem has emerged following the large expansion that the area saw as a result of the influx of investors and residents.
As part of the government's efforts to solve the problem of transport, the Ministry of Environment and Urbanization approved the construction of the new metro line linking the Esenyurt area with Bahcesehir, Ispartakule, Mahmutbey, and Mecideiakoy.
The length of the section connecting Mahmud Bey, Bahcesehir, Ispartakule and Esenyurt within this line is approximately 16.4 kilometers, which extends over 9 stations, thus reducing the length of traveling time between the districts of Bahcesehir and Mahmud Bey to 18 minutes. This line will also be linked to the Marmaray line connecting the two sides of Istanbul, Europe, and Asia, through a tunnel running from under the sea.
With the approval of the Ministry of Environment and Urbanization on the construction of the new metro line, the influx of investors to the area has increased in Istanbul, which contributed to the revitalization of the real estate market, The metro line project is expected to increase the value of real estate investments in the area, which will see an increase of 20 percent in the near future. This rise continues gradually to peak after the completion of the new metro line.
Bahcesehir and Ispartakule districts are close to the mega-project areas in the city, such as the Third Istanbul Bridge project, Istanbul Third Airport project, and the North MarmaHighwayway project, which connects these two mega projects, this will also have an impact on property prices in the district, which have a unique investment future.
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