It was natural and expected that the new Istanbul airport would have an impact on all related investment projects or real estate construction, leading to a noticeable rise in real estate prices, and affecting the real estate investment market before others.
Istanbul Airport affects real estate prices on a record in four regions
With the start of the work trip of the new Istanbul airport, with its enormous capabilities, its positive effects began to appear on all the sectors surrounding it, or those related to its field of work, which befit its capabilities and size as one of the largest air terminals in the world .
There is no doubt that the real estate sector is one of the important sectors on which this airport had a great impact, especially in the areas adjacent to the airport in Istanbul, as evidenced by the house prices in Basaksehir 2019 .
According to data from the real estate statistical website Endeksa.com , real estate sales during the past year showed an increase of 0.22% in real estate prices in the areas near Arnavutkoy near Istanbul's new airport, and the rent of homes in the same area increased by 3.85%, with the price per square meter In Arnavutkoy, an average of 2,227 Turkish liras, while the average house rent was 802 Turkish liras. It is one of the areas where the estimated investment life of the property is 25 years .
Increasing real estate value in neighboring areas
The impact of the real estate airport was not limited to the Arnavutkoy region alone; Rather, it had a positive impact on all its neighboring areas and some of the most important areas of Istanbul. The increase in real estate prices in Büyükçekmece in the past year amounted to 8.95%, while house rents increased by 4.58%, where the average price per square meter reached 3150 Turkish lira, and the average house rent was 1364 Turkish liras, and the estimated period for the investment life of the property was 27 years .
Among the areas where the impact of Turkey's new airport has reached are; Esenyurt district, as it was one of the areas affected by Istanbul Airport due to its proximity to it. The increase in real estate prices in Esenyurt during the past year amounted to 8.33 % , while the value of rents increased by 20.85%, as the average price per square meter in Esenyurt was 2243 Turkish liras, and the average home rent in it was 960 Turkish liras, and the estimated life For real estate investment in Esenyurt 20 years .
The Basaksehir area was one of the areas that was clearly affected by the new airport near it. Real estate prices in it witnessed an increase of 7.94% during the past year, while house rents witnessed an increase of 7.32% , as the average selling price per square meter in the Basak region reached It is famous for 3496 TL, the average house rent is 1599 TL, and the estimated investment life of the property is 26 years .