It was natural and expected that the new Istanbul airport will have an impact on all associated investment projects or real estate construction, leading to a significant rise in property prices, and affect the real estate investment market before others.
Istanbul airport affects real estate prices as record in four regions
With the start of the new Istanbul Airport business, with its enormous capabilities, it is beginning to show positive effects on all the sectors surrounding it, or related to its field of work, befitting its capabilities and size as one of the largest air stations in the world.
There is no doubt that the real estate sector is one of the important sectors that this airport has had a significant impact, especially in the vicinity of the airport in the city of Istanbul, as reflected in the prices of houses in Basaksehir 2019.
According to the data of the real estate statistical site Endeksa. Last year, real estate sales showed a 0.22% increase in real estate prices near Arnaout Koy near Istanbul's new airport. Rents for homes in the same area increased by 3.85%. The average fare for the house is 802 TL. It is one of the areas where the estimated investment age of the property is 25 years.
Increasing the value of real estate in the vicinity
The airport's real estate impact was not limited to Arnaout Koy alone; it also had a positive impact on all its neighboring areas and some of the most important areas of Istanbul. The increase in property prices in Buyukcekmece area last year was 8.95%, while house rents increased by 4.58%. The average price per square meter has reached 3150 TL, the average rent of the house is 1364 TL, and the estimated period of investment life of the property is 27 years.
One of the areas where the impact of Turkey's new airport has reached is Esenyurt, where it was one of the areas affected by Istanbul airport because of its proximity. The increase in the price of real estate in Esenyurt during the last year was equivalent to 8.33%, while the value of rents increased by 20.85%, where the average price per square meter in Esenyurt 2243 TL, the average home rent in which 960 TL, estimated life For real estate investment in Esenyurt 20 years.
Basaksehir area was one of the areas that were noticeably affected by the real estate near the new airport, where real estate prices witnessed an increase of 7.94% last year, while house rents witnessed an increase of 7.32%, where the average selling price per square meter in Basak area Famous for 3496 TL, the average rent of the house where 1599 TL, and the estimated investment life of the property where 26 years.