Due to the transportation difficulties in Istanbul, house and rental prices have increased considerably in regions where rail systems are predominant. Citizens who invest in these regions are gaining in rent.
Istanbul’s traffic ordeal does not end. Even though the commute times are regulated due to the coronavirus, the number of employees working from home has increased, the use of private vehicles has increased equally, so the roads can be blocked at all hours of the day. It takes hours to go from home to work. This is reflected in the housing choices. Proximity to rail systems increases the value of homes in Istanbul. According to the news in Milliyet, the metro line, Marmaray, Metrobus, Eurasia tunnel, funicular and trams in Istanbul facilitate transportation to distant districts, as well as speed up in central places where there is a lot of traffic. The new metro lines, which are expected to be completed in 2021, are as follows:
Sabiha Gokcen Airport – Tavsantepe Metro Line, Kabatas-Besiktas-Mecidiyekoy-Mahmutbey Metro Line, Atakoy-Basin Ekspres-Ikitelli Metro Line, Gayrettepe – Kemerburgaz – Istanbul Airport Metro Line, Basaksehir – Kayasehir Metro Line. The new 72-kilometer-long metro line HIZRAY between Beylikduzu and Pendik aims to connect both ends of Istanbul in 1 hour.
The lines that will be completed in the future but are already at the tender stage or have been started are as follows: Beylikduzu-Esenyurt-Sefakoy-Incirli metro line, Rumeli Hisari-Asiyan funicular line, funicular line between ITU-Istinye and Altunizade-Beylerbeyi.
Aiming to invest in real estate, when they are especially at the project stage, they are turning to centers that will be more relaxed in terms of transportation in the coming years. Residences in districts of Istanbul, which were considered far from the center in the past, can find buyers or tenants for prices approaching central districts with the development of transportation networks.
Source: Emlakkulisi / Translated by Irem Yildiz