Kanal Istanbul will increase real estate prices in four districts

Using the advanced possibilities of digital technologies in real estate valuation, the founding partner and CEO of the Endeksa, Görkem Öğüt, is planned as an alternative to the Bosphorus Strait and the route of the Channel Istanbul Project Avcilar, Küçükçekmece, Başakşehir and Arnavutköy, the real estate prices will increase considerably, he said. Öğüt, since the project began to take place in the region, the real estate prices have seen an increase in the area, the route will be determined with the demand increase, he noted.

Average price in Avcılar 2,500 tl/m2, 2,900 tl/m2 in küçükçekmece

According to Endeksa.com data, Avcılar has been featured in real estate investment in Istanbul in recent years. The last 5-year value increase is at 40% levels. The region, which is prominent with housing projects, is expected to gain more value with the finalisation of the channel Istanbul route. According to Endeksa.com data, the average residential square meter sales price is 2,500 tl, the average house price is 296,000 tl, the average rent is 1,285 TL and the return period of the housing investment is 20 years. Housing prices ranging from 1 + 1 to 5 + 2 with different housing types vary between TL 220,000 and 560,000 TL.

Küçükçekmece is the second region in the last 5 years which has seen the most increase in real estate value within the regions mentioned under the project. According to the Endeksa data 2017 the average residential square meter sales price in küçükçekmece at the end of November is 2,900 TL, the average house price is 310,000 tl, the average rent is 1,400 tl, the return time of the housing investment is 19 years. Housing prices from 1 + 1 to 6 + 2 with different housing types in küçükçekmece are between TL 220,000 and 560,000 TL.

Average price in Arnavutkoy district is 2,225 tl/m2, 3,300 tl/m2 in Başakşehir

On the agenda of the channel Istanbul Project, Arnavutkoy, the land square meter prices are yet lower levels compared to other regions, and because of the high supply of land, the potential for real estate development is the highest region. According to the Endeksa data, the average residential square meter sales price in Arnavutköy is 2,225 tl, the average house price is 250,000 tl, the average rent is 800 tl, the return time of the housing investment is 25 years.

Although it is far from the central business areas of Istanbul as a location, the commercial areas of the region, the Olympic Stadium and the health campus for some time on the agenda with major investments and transportation projects Başaksehir, the route of the Channel Istanbul Project More prominent. Channel Istanbul Project due to the most significant increase in the district of the districts Pigeon, Shahintepe, Kayabaşı and Altinsehir neighborhoods. According to the Endeksa data, the average housing price of Basakşehir is 3,300 tl/m2, the average rent is 1,525 tl, and the return time of the housing investment is 24 years. The Endeksa CEO, Görkem Öğüt, said Başakşehir's development speed will increase in the coming period.