İzmir Light Rail and Real Estate Boom

Share on Facebook0Share on Google+0Tweet about this on TwitterShare on LinkedIn0

It has been noted that the recent light rail system initiated by İzmir Metropolitan Municipality, has greatly promted a rise in real estate prices in the area. The light rail (tram) grid was first mobilized in Karşıyaka in April 2017, then it was continued in Konak in February 2018. The combined effort has increased the rail length throughout the whole city to 180 kilometers, while providing a tremendous boost to the rental business.

Sales Statistics Around Trams

REIDIN has recorded important data in terms of the real estate prices in İzmir. The research showed that there has been a considerable rise both in rental and sale prices. The Konak tram line which starts from Fahrettin Altay transport hub and ends at Halkapınar hub is 12,7 kilometers long, and the most expensive real estate sale in February 2018 has happened around Fair tram stop with 20,8/m2 while the cheapest sale has happened around Mithatpaşa High School stop with 2,261/m2.

Booming Around The City

In terms of rental increase in İzmir, Küçükyalı has showed the most significant rise around Konak tram line in the last 5 years; around Valikonağı tram stop area. In Karşıyaka line, the tram line which starts from Alaybey and continues until Mavişehir, the most real estate prices increased in 2018 February has been observed around Bilim Müzesi (Science Museum) tram stop. It has been underlined that around Ataşehir tram stop area, rental prices have risen 129,2% in the last 5 years.

You may also like...

Leave a Reply

Your email address will not be published. Required fields are marked *