: 2016-09-26 Modified date : 2019-03-11
As the property prices rose unevenly in the city of Istanbul, Zeytinburnu, with its excellent location between the historic peninsula and the International Airport of Istanbul, is considered as one of the most important investment centers that attract the real estate investors. Zeytinburnu is separated from the historic peninsula, which is considered the center of Istanbul, by only historic walls. Moreover, it is only 20 minutes away from the International Airport of Istanbul, as well as, it is one of the most important transportation centers in the city since most of the public transportations gather there including the metro, Metrobus, tramway, Marmaray, and the sea transportations, in addition to an extensive network of bus lines heading to all areas of Istanbul city.
Zeytinburnu is surrounded by Fatih to ?? the East, Eyup to the north-east, Bayrampa?a to the north, Bakrköy to the west, Esenler to the north-west, and the Sea of ?? Marmara to the south. Its coastal location and central position between these main regions contribute to raising its property prices on an ongoing basis.
Talking about the process of the urban shift taking place in the region, Zeytinburnu was, in the past, a center for factories and industrial complexes before it transforms into an important center for branded real estate projects, where that old factories and complexes left its place for the modern offices, shopping malls, and real estate projects that spread in the region for more than ten years now, replacing those old factories and industrial complexes.
Once Kadir Topba?, the mayor of Istanbul, announced the municipality's desire for establishing a public park with an area of ??one million square meters in Zeytinburnu, the real estate prices began raising, and the market movement began activating more and more, thereby the modern real estate projects, which have begun spreading extremely in the region, increased, so the real estate value of the region raised and the property prices, as well, raised. Likewise, the price of the old (used) properties increased 50%, and it is expected to rise more in the near future.