New Areas Top Istanbul’s Real Estate Scene

Some areas topped the real estate scene in the increase in demand and prices...

2017-12-28 Last update 2020-04-16

New Areas Top Istanbul’s Real Estate Scene

Property prices in Istanbul rose significantly during the last period, and the price per square meter reached in average 3700 Turkish liras, thus, some areas topped the real estate scene in the increase in demand and prices.

Maltepe district in the Asian part of Istanbul saw a 168% rise in the price per square meter, to 153% in Atashehir as well as to 143% in Sheila. There was a similar situation in the European part of the city, with prices rising to 138% in Silvery, 134% in Buyukchekmece and 131% in Ghazi Osman Pasha.

The new projects in the transportation sector play a major role in increasing this demand, with metro and tramway areas experiencing an increase of three to four times of the normal areas due to easy access through these public transport means.

The new turnout was in Asian regions, especially after the construction of a wide network of roads, the Sultan Yavuz Selim Bridge and the Eurasia Tunnel, which reached the two continents and made access to both destinations more easily.

The impact of Arab investors in the real estate sector is one of the factors that led to the rise in real estate prices in Istanbul, where the islands' area is experiencing unprecedented demand by the Arabs, and similarly, there is a great tendency by Arab investors to new areas such as Tuzla and Avclar.

Source: Emlak Habar

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