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Does Istanbul International Airport Affect Real Estate Prices?

: 2019-09-20 Modified date : 2019-10-15

Does Istanbul International Airport Affect Real Estate Prices?
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Today, Istanbul plays an active role as a global hub connecting the East and the West through the new Istanbul International Airport, which has acquired an important position on international air traffic from the moment of its inception.

The city of wonderful civilization, the city of the two continents extends on important and strategic geography. However, its history and originality transformed into a global destination by tourists to enjoy its beauty and charm. Not to mention investors who come and take advantage of its growth and prosperity.

New Istanbul International Airport Transport and its impact on the real estate

As is well known, the city of Istanbul is constantly evolving, constantly advancing at all levels and areas, and this development and expansion required the development of a transport network befitting this great metropolis. Today, it hosts one of the largest and most modern and extensive interconnected transport networks. It has the largest airport in the world and the East-West connection, so it also had to be connected throughout the city to perform its unique global mission to the fullest extent possible.

Istanbul International Airport

Perhaps the real estate sector, both residential and commercial, has been affected mostly by the extension of the transportation network. After operating, the airport has made a qualitative leap in the importance of real estate within its surroundings, in terms of location and investment value.

The new Istanbul International Airport is awaiting a real estate revolution that is commensurate with its global significance. Furthermore, Airport-related transport projects also play an active role in raising the real estate value of the areas they pass through.

In an article published by Emlak Kulasi on the impact of the Metro Gayrettepe - Istanbul Airport, the following is stated:

"The Gayrettepe -Istanbul Airport metro line, the first of which will enter service this year, followed by the second phase next year, has started to make a quantum leap in the investment value of the real estate in the areas it passes, namely: Besiktas, Sisli, Kagithane, Eyup, and Arnavutköy. "

Istanbul's new airport

The most important areas taking advantage of the new Istanbul International Airport Transports

The metro line project, which is planned to connect the city center with the new Istanbul airport, is 70 kilometers long, 37.5 kilometers of which is from the new Istanbul airport side.

In a survey published by Endeksa.com on the prices of real estate in the areas that pass through this line, the following are:

Besiktas area

The average price per square meter in the Besiktas area in the first half of this year: 10,222 TL, one of the areas where the average investment life of the building is 35 years.

Besiktas

The value of real estate investment in Besiktas is expected to witness 0.1% in the second half of this year. Given the average annual increase in the value of real estate investments, the most-developed neighborhoods in the value of real estate investment, according to statistics at the end of April 2019, were as follows: Dikilitaş, Etiler, Ulus, Levent, Akat and Nisbetiye.

Sisli

The average price per square meter in Sisli in the first half of this year: 5,450 TL, one of the areas where the average investment life of the building is 24 years.

Furthermore, the investment value of real estate in Sisli is expected to witness an increase of 0.72% in the second half of this year. According to the average annual increase in the value of real estate investments, the most-developed neighborhoods in the investment value of their properties according to the statistics of the end of April 2019, were as follows: Harbiye, Mahmut Shawkat Pasha Mahmut Şevket Paşa, and Cumhuriyet Republic ...

Kağıthane

The average price per square meter in Kağıthane in the first half of this year: 3,693 TL, one of the areas where the average investment life of construction is 22 years.

On the other hand, the investment value of real estate in Kağıthane is expected to witness an increase of 0.25% in the second half of this year. The most developed neighborhoods in the investment value of their properties, according to the statistics of the end of April 2019, were as follows: Seyrantepe, Yeşilce, Telsizler, and Hamidiye.

Kağıthane

Eyup

The average price per square meter in Eyup Sultan in the first half of this year: 3,634 TL, one of the areas where the average investment life of construction is 18 years.

Moreover, the Investment value of Eyup is expected to witness a 4.69% increase in the second half of this year. In view of the average annual increase in the value of real estate investments, the most-developed neighborhoods in the value of real estate investment at the end of April 2019 were as follows: Güzeltepe, Defterda, Düğmeciler, Alibeyköy, and Mimar Sinan.

Arnavutköy

The average price per square meter in Arnavutköy in the first half of this year: 2227 TL, one of the areas with an estimated investment life of 25 years.

The investment value of real estate in Arnavutköy is expected to increase by 0.36% in the second half of this year. In view of the average annual increase in the value of real estate investments, the most-developed neighborhoods in the real estate investment value according to the statistics of the end of April 2019 were as follows: Hicret, Nenehatun, Haraççı, Mustafa Kemal Paşa, and Mehmet Akif.

In general, we at Imtilak Rael Estate emphasize the importance of properties that are well served in their transportation. It is quite normal that the price of real estate in Istanbul is affected by the importance of its location and services, and one of the most important advice that we recommend to those who want to own their new property in Turkey; studying the chosen location and its transportation, choosing the place closest to the city's most vibrant points.

 

Edited by: Imtilak Real Estate ©

Sources: Emlak Kulasi

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