In Istanbul, projects are being developed to facilitate and speed up transportation. Transportation projects also directly affect housing prices in the region. Uskudar-Cekmekoy subway line, which started construction work in 2012 and is planned to open in the last month of 2017, is expected to affect real estate prices closely.
First driverless subway line
With Turkey's first driverless subway line, transportation from Üsküdar to Sancaktepe will be reduced to 27 minutes. It will pass through the stations of Üsküdar, Fıstıkağacı, Bağlarbaşı, Altunizade, Kısıklı, Libadiye, Çarşı, Ümraniye, İnkılap Neighborhood, Çakmak, Ihlamurkuyu, Altınşehir, High School, Dudullu, Toplu Konutlar, Çekmeköy and Sancaktepe.
According to Zingat.com's Regional Report results, house prices for sale for the last 5 years increased by 131 percent due to subway projects. With the new subway line, housing prices have increased in Üsküdar, Çekmeköy and Sancaktepe over the past year. Here is important information for those who want to invest in real estate in these regions…
Depreciation runs for 23 years
Üsküdar, one of the central points of transportation network, is on the agenda with Üsküdar-Çekmeköy subway line. According to Zingat.com Regional Report 2017, the sale price for a 100 square meter residence in Üsküdar ranges from a minimum of 352,688 TL to a maximum of 587,813 TL. The sale price for an average 100 square meter residence is 470,250 TL. The return on investment for the property given to the rent is 23 years.
According to the report, the average selling price for a 100 square meter residence in Çekmeköy, which is one of the developing provinces of Istanbul, ranges from a minimum of TL 224,480 to a maximum of 374,134 TL; the average residential sales value is stated as 299,307 TL. Rental prices in Çekmeköy vary between 843 and 1405 TL. The average rental price of an area of 100 square meters in the district is 1124 TL. The depreciation period for the property given to the rent is calculated as 22 years.
The average sale price of a 100 square meter residence in Sancaktepe is 237,906 TL. Veysel Karani was the neighborhood with the highest increase in the price of housing for sale, with a monthly increase of 2 percent. The price of the flat for sale in Veysel Karani Mahallesi is 3,915 TL.