Land and buildings will see high value increase with the third bridge that is expected to open in May 2016 expressed by Minister of Transport, Maritime Affairs and Communications Binali Yıldırım and five new tunnel projects. In Istanbul metropolitian mayor Kadir Topbaş’s budget of 16 billion and 100 million liras of 2016, his expressions of opening new five tunnels heats up the real estate market. According to news, taking huge infrastructure projects which take place incounties like Maltepe, Kartal, Çekmeköy and Ümraniye into consideration, with the effection of third and fourth airport projects leading ways of transportation into the citycentre, investors’ immense interest are expected to be on Sarıyer and around of it.
Sarıyer is in the top list of most value gained area of İstanbul, surrounded with five new tunnels, the North –south axle and with the third bridge connection roads the east-west axle.
FAST VALUE INCREASE IN SARIYER
It’s explained that the tunnels to be carried out between Dolmabahçe-Levazım, Levazım-Baltalimanı, Baltalimanı-Ayazağa, Ayazağa-Çayırbaşı and Sarıyer-Zekeriyaköy will ease the traffic flow dramatically, moreover, it’s added that Sarıyer will be among the top of the areas where real estates gain most value.
Önder Akpınar, responsible for CBRE International Reas Estate Consulting, made statements about what opportunities will Istanbul’s new infrastructure projects enable to sector. “We believe that Zekeriyaköy, Demirciköy and the areas around are among the regions that will experience the most value rises. The route of the third bridge, in other words, Demirciköy, Zekeriyaköy and the close parts will get the high values with the effect of North Marmara Highway. There is no doubt that the Sarıyer-Zekeriyaköy Tunnel Project which was mentioned by Kadir Topbaş will contribute to this value rising.
%50 RAISE IS EXPECTED IN THE REGION
Önder Akpınar emphasized that the house values have been raised dramatically in Bahçelievler and Bakırköy with the metro and metrobus connections and in Kartal, in 2012 with metro services %60-%70 rises comes to the places which are close to the metro stations. He gave another example which is route of Üsküdar-Çekmeköy. “The name of Sancaktepe route metro Project was enough to increase the values” he explained.
Akpına said that the factors which affect estate projects most are building quality, the social opportunities that project has and trasportation ease. Moreover, he told that the demand for the project and the entegration of the project with the rest of the city are so vital as well. “We can say accessibility is the top of these factors. In big cities like Istanbul % 90 of estate values make ups the land value which is location.” He added.
Akpınar said especially, like the projects of the third bridge, the third airport or The North Marmara Higway will cause fundamental changes in Istanbul and these projects will create new and permanently increasing values of lands. Additionaly, he pointed out that in Istanbul the biggest value rising will be on the routes of the third project. Emphasizing the benefits of investments on estating, Akpınar said that “we expect city centres will stand out more with urban transformation.”
The projects in city centres are still attractive to investors. Nevertheless, like Sarıyer’s noth place which is located out of the city centre but has strong connections with city centre and Beykoz land values increased four or five times more in the last 10 years. Linked with this, the rise will raise the values of houses that are still acessible with the completions of North Marmara Highway and the third bridge.
THE TUNNELS WILL INCREASE THE VALUE OF ZEKERİYAKÖY
Önder Akpınar continued to his speech “ even th name of the tunnel projects increased the selling prices. It’s clear that the big projects have massive effects on determining the prices of houses around them. We saw the same examples with the big projects before. Nevertheless, with metro services, tunnels and bridge projects Çekmeköy, Ümraniye, Kayaşehir and Zekeriyaköy will have stronger relations with city centres and demands although these areas once thought as unlinked with city centers. As a consequence, we will not find the same prices after the projects’ completion. The rises in the last one year clearly proves this issue. We think that the effects that the third bridge and the third airport will cause are bigger than those of Atatürk Airport and Sabiha Gökçen Airport.”