New metro projects in Istanbul added 131 percent to housing prices for sale.
As the number of projects related to the metro, a mass transit system that greatly facilitates transportation in Istanbul, increases, housing prices in metropolitan areas are also increasing. According to Zingat.com's Regional Report results, the highest increase in the price of residential property for sale between the metro areas has occurred in İçerenköy with 131 percent in the last 5 years. In the same period, Kaynarca reached 97 percent with the increase in the price of the most rented house.
REAL ESTATE PRICES RISE ON SUBWAY LINES
Turkey's most populous city is given weight to the metro project to find solutions to the transportation in Istanbul. New metro projects that will relieve Istanbul traffic also increase housing prices for the regions they have reached.
The results of the Regional Report of the real estate and information marketing platform Zingat.com, which came out with the slogan "Real Estate.Info.Güven", show that in the last 5 years, there has been an increase of 131% in the price of residential house for sale and 97% .
THE PRICE OF HOUSING FOR SALE INCREASED MOST IN İÇERENKÖY
Due to the subway projects, the price of residential houses for sale increased by 131 percent in the last 5 years. It was followed by Ataköy with 118 percent, Altunizade with 110 percent, Kaynarca with 104 percent, Basaksehir with 99 percent, Bağzilar with 94 percent, Kirazlı with 94 percent, Dudullu with 90 percent and Tuzla with 65 percent.
According to the results of the rental housing price increase, Kaynarca took the top place with 97 percent. İçerenköy with 87 percent, Atakoy with 74 percent, Bagcilar with 65 percent, Tuzla with 64 percent, Altunizade with 62 percent, Başakşehir with 45 percent, Kirazlı with 44 percent and Dudullu with 35 percent followed Kaynarca with 87 percent.
Zingat.com Co-Founder and CEO Ahmet Kayhan said that the proliferation of subway lines and an increase in housing prices have been parallel to this. "The rail system in Istanbul is expected to reach 1001 kilometers in 2023. It is obvious that one of the biggest problems in Istanbul is transportation. Therefore, we anticipate that there will be at least an increase in these rates in the near future in regions close to metro lines that relieve transportation to a great extent. "