Istanbul Apartment Buyer or Real Estate Investor? An ever improving city

May 2, 2014

Istanbul really is a city of opposites, where East meets West, where young meets old (people and buildings) and modernisers meet traditionalists, which is in part, what has fuelled protests of late. However, Istanbul is a constantly changing city.

Istanbul City Property-ever changing infrastructure

Istanbul property -old-new

At the end of 2013 we saw the opening of the Marmaray tunnel and the upgrade of about 76 kilometers of commuter rail from Halkali to Gebze, which is mainly over-ground, with a section going under the Istanbul Strait, joining the European side and the Asian side of Istanbul.

This uninterrupted, modern, high-capacity commuter rail system, will significantly reduce commuter time to the point where the city centre can be reached from the extremities of the rail network and also my Metro Bus (European Side) within an hour.

Now plans are proceeding for the World’s biggest airport, with ambitious talk of it opening in 2019, at Arnavutköy, north of European-side, Istanbul, 20 miles outside. The Turkish authorities, no doubt, have a stylish, modern, destination-type airport in mind with their plans to develop the “world’s largest airport terminal under one roof” with six-runways and capable of accommodating up to 150 million passengers a year. The ambition is to render Istanbul indispensable in East-West travel and to rival Dubai.

Until now investors in Istanbul property have been attracted by entry-level pricing under £100,000, in the Western parts of European-side Istanbul City. These are areas like Esenyurt, Beylikduzu, Gurpinar which is the coastal part of Beylikduzu, Bahcesehir with its marina and Büyükçekmece.

In the medium and long term, this new airport may start to draw interest to areas like Kagithane, near Sisli, which are close to the city centre but yet near the location of the new airport. It is worth bearing in mind that this should be more of a long term consideration than a short term one, given the time it will take to firm plans up and build the airport and prices here are higher, starting closer to £100,000 and above.

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