Housing prices in Küçükçekmece, which Canal Istanbul project will pass by have increased more than 50 percent in recent years.
The route of the Canal İstanbul project which has 45 km length passes through Küçükçekmece, Avcılar, Arnavutköy, Başakşehir districts.
1- Housing and Land Prices Increased More Than Fifty Percent
The avarage housing prices in Atakent in Küçükçekmece rised from 2500TL to almost 5000 TL. In 2015, while the prices of the square meters of the houses in Cennet Mahallesi were 1500 TL, today they are selling almost 3600 TL per metersquare.
The region is expected to receive more demand in the future due to its proximity to major transportation routes such as TEM Highway, E-5, Press Express, North Marmara Highway and Yavuz Sultan Selim Bridge. For this reason, prices are expected to increase more.
2- Prestigious Housing Projects
Although the Canal Istanbul project was announced in early 2018, the real estate market in the region has already gained value. Prestigious residential projects on the route of the project have begun to be built already.
The projects around the route can be divided into three mass housing areas; Hoşdere, Ispartakule, Kayaşehir. Some of the biggest projects are Tual Bahçekent, Avrupark, Cadde Flora, Bahçekent Emlak Konutları, Ağaoğlu My Town Ispartakule, Avrupa Konutları Başakşehir, Nidapark Kayaşehir, Evvel İstanbul, Kayabaşı Emlak Konutları, Kuzeyyakası Emlak Konutları.
3- The New Attractive Area for the Foreign Investors
The Canal Istanbul Project causes a new attraction in real estate sector. The Real Estate Housing REIT has a rich portfolio of properties on the canal project route.
In addition to Real Estate Housing REIT, local and foreign large construction companies are also investing on the region. Qatar companies are among the greatest investors on the projects on the route of the Canal İstanbul. The construction of prestigious residential projects are on the agenda in partnership with Qatar investors and Real Estate Housing REIT.
With these investments, house prices will continue to increase.