Mega Transports Projects Activate the Real Estate Sector in Turkey

Turkey's massive transportation projects have significantly and positively affected the real estate sector...

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2017-07-05 Last update 2020-02-13

Mega Transports Projects Activate the Real Estate Sector in Turkey

Turkey's massive transportation projects have significantly and positively affected the real estate sector. Recently, large-scale transportation projects have resulted in a price per square meter of land donated from 5 lira to more than 150 Turkish liras.

Studies indicate that the price of land surrounding the new bridges that have been built and are currently being built has increased significantly.

The Osman Ghazi Bridge and the road connecting it to Izmir, which connects Izmir with Istanbul, will ensure access between the two cities within a maximum of 3.5 hours. The mega project has increased the demand for the lands on both sides of the road, to increase prices in the cities through which the road passes.

The third bridge project in Istanbul (Yawoz Sultan Sulayem Bridge) is one of the most lucrative projects for investors, especially in the real estate between the Sariere and Pikuz regions. The remaining part of the project, which will enter service in 2018, is currently under construction.

The third new airport in Istanbul, currently under construction, is one of the largest projects in Turkey's modern history, which has been a major opportunity for profit-taking by residents of the areas around the airport. Studies indicate that the price per square meter was in 2013 between 500-600 Turkish liras, while this figure reached the level of 1250-2000 TL with the airport project.

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