Galataport Project Has Doubled Up The Prices in Kadikoy

EVA Real Estate that has been conducting researches in Karakoy field, states that Karakoy area, which showed an increase in value in real estate prices since the last five years, has started to rise thanks to Galataport project. While hotel projects are gaining intensity in the area, it is stated that there have been an increase in house prices at 250% since the last 8 years in Karakoy, which is getting ready to become one of the world’s leading tourism regions.

LODGING INDUSTRY HAS THE BIGGEST BOOM

EVA Real Estate Value Assessment Project Coordinator, Sefik Ercan Keskiner, who states that the biggest boom belongs to lodging sector in Karakoy, also says that most business places and office buildings tends to become a guesthouse or a hostel and plungers has started to make investment in hotel projects in and around Karakoy.

TRANSFORMATION HAS BEGUN 5 YEARS AGO

Keskiner, who states that the transformation in the area has begun 5 years ago, says that the highest demand in the area is for Bankalar Avenue, Kemankes Avenue, Meclisi Mebusan Avenue, also Zurafa Street, which has a bad image, has also joined this group now.

THE AREA WILL SHOW ITS POTENTIAL WITH TRANSFORMATION

Keskiner, who states that square meter prices will increase after transformation, says that Karakoy will show its potential with the transformation.

HIGH PROFIT MARGIN

Keskiner, who states that the last users haven’t been settled in the area yet, says that there is still an on-going circulation in terms of real estate purchase and sale in the area. Based on the field research that EVA Real Estate has been conducting in the area, Keskiner says that those who make investment in real estate and make sale in one year gain profit approximately at 50%.

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    fatma Written by:

    Fatma Şahin fatmasahin@istanbulinvestments.com

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