Azeri investors push land prices up near Istanbul's 3rd airport
by Seda Tabak
ISTANBULFeb 04, 2016 - 12:00 am GMT+3
by Seda Tabak
Feb 04, 2016 12:00 am
The ongoing construction of the Istanbul's Third Airport has caused a leap in both foreign and local investments. Especially Azerbaijani investors are purchasing 2B type land in the area. Ceylan Aksu, a consultant for Keller Williams Platin noted that especially Azerbaijani investors have been interested in the region for the past couple of years and the region has become an attraction center for the investors especially after title deeds started being issued for 2B type lands. "The districts of Kemerburgaz and Göktür are still rich regions in terms of land and they extend up to the districts of Arıcılar, Bolluca. Therefore, Azerbaijani investors continue to purchase the lands around these areas," said Aksu.
Parallel to the completion of the new airport, the metro line will also be commissioned in 2017, which pushed the land prices per square meters in and around Kemerburgaz and Göktürk. Villas that were sold for $330,000 to $350,000 now are sold for around $4 million according to Aksu.
Aksu further noted that despite being a small area, the interest in Göktürk has been gradually increasing within the last five years and especially the white-collar employees in the area of Maslak - another district close to Göktürk where a lot of businesses are concentrated - are preferring the area because of its high construction quality in line with the earthquake regulations, health facilities and car parking opportunities it offers and educational institutes to be close by plus the general safety and security of the area. "Göktürk and Kemerburgaz districts in time have evolved into districts that meet all needs," explained Aksu.