Megaprojects boost value of real estates in Istanbul

Obama to meet with Erdogan in China at G20 Summit
August 30, 2016
Turkey, China sign Nuclear Security Deal
September 3, 2016

Megaprojects boost value of real estates in Istanbul

Thanks to megaprojects such as the Yavuz Sultan Selim Bridge, the North Marmara Highway and Istanbul’s third Airport, housing and land prices have been on the rise in the nearby areas

Megaprojects including Yavuz Sultan Selim Bridge, North Marmara Highway and Istanbul’s third airport have allowed housing projects near these projects to rise in value.

While the value of land and residential properties including Eyüp, Çatalca, Arnavutköy, Sarıyer, Beykoz and Çekmeköy have increased nearly fourfold, the increase in the quality of housing in regions like Sancaktepe are drawing increasing interest.

Real estate agencies assess that after the construction of Yavuz Sultan Selim Bridge began and even following the announcement of its constructed route, activity on the housing market increased on the Halkalı-Başakşehir-Arnavutköy-Kayabaşı axis and in Zekeriyaköy on the European side of Istanbul and Beykoz, Çekmeköy and Sancaktepe regions on the Anatolian side. The price of land and real estate near the North Marmara Highway, access roads and the third bridge has increased; especially in Eyüp, Çatalca, Arnavutköy, Sarıyer, Beykoz and Çekmeköy.

The regions of Arnavutköy Karaburun, Beykoz Riva, Sarıyer Uskumruköy and Çekmeköy Nişantepe have seen the highest increase in real estate value thanks to construction of the third bridge and real estate prices reportedly increased fourfold in those regions. Among housing projects located on the North Marmara Highway route and near its access roads; namely, the Sancaktepe region, has drawn increasing interest and is undergoing urban transformation with new housing projects. There are approximately 4,000 new housing projects to be completed in the region of Sancaktepe by 2018, followed by Çekmeköy with nearly 930 projects. According to experts, the districts of Zekeriyaköy and Uskumruköy in Sarıyer are leading the way regarding the North Marmara Highway with 300 new housing projects.

Share this article with your professional network: