: 2016-03-05 Modified date : 2019-10-25
In a study conducted by one of the most important Turkey's real estate appraisal institutions, about the district of Başakşehir explained that this district is in the tops of the districts of Istanbul in the European side in terms of the increasing residential spaces, for embracing several infrastructure projects established in the city.
Istanbul's mega-projects such as Istanbul’s Third Airport and Istanbul’s Third Bridge have led to an increase of %27 in the real estate prices in Başakşehir district over the past year. The cumulative rise in the real estate prices over the last two years in the district to 47%. The study also added that Başakşehir district will enter within the first five districts expected to rise in prices after the completion of the mega-projects mentioned above.
It is expected that the real estate prices in the region will continue to rise after the completion of these projects, especially the region is hosting the Bio-Istanbul project, the Medical City complex, which is the biggest medical city in Europe and includes scientific and educational research and development units, Hospitality units, commercial units, cultural centers and conference centers, which will contribute to local and foreign tourism in the region. The study also confirmed that the district is considered one of the biggest housing districts in Istanbul, and also it is one of the preferred areas by investors enjoying the medium and high economic level, moreover, it is a rich district in terms of land reserves, and that the Turkey real estate projects will continue to increase rapidly.
The study emphasized that real estate gains in Başakşehir District are expected to be above the average of the Turkey real estate profits for Istanbul properties during the coming period. Investors also recommending to invest in it before the completion of the infrastructure projects, noting that property prices will continue to rise in the district. Prices will reach its peak after the completion of the above-mentioned infrastructure projects.
Başakşehir District is witnessing a popular influx of foreign investors dramatically in the recent years, as many foreign investors, especially the Arabs, coming from the Arab Gulf countries prefer to invest in Başakşehir district, and there are some Arab real estate giant companies whom are trying to enter the region to establish a real estate investment projects, where Saudi Arabian Zamil company in the partnership with some Turkish companies managed to obtain approval establishing the biggest real estate projects in the region, where 115 thousand square meters have been allocated for the project, which will be one of the biggest real estate projects in the district, This project will include about 1,500 housing units in addition to offices and business units, and this project will start working in mid-2016 which will mediate the region, and observers expect that the project will contribute significantly to the increase of the value of real estate district and increase trend of foreign investors to the district considerably.
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