10 Popular Regions of the Office Market

Istanbul / Ataşehir

Prices Soar in Ataşehir
Istanbul – Atasehir

The average square meter office prices in the region rose from between 5 thousand 200 to 8 thousand TL in 2013 to the range between 13 thousand 500 – 16 thousand TL in 2016. This is a region which is easy to access with both bridges on the Anatolian side, as well as hosting the Istanbul Finance Center, which is a project on a countrywide scale. It is among the office regions which have come to the fore due to both transport facilities and ease of access and development. In addition to this, it is expected that the Ümraniye – Ataşehir – Göztepe metro line and the Kadıköy – Ataşehir railway system project will have a positive impact on the office stock in the region.

Istanbul / Maltepe – Kartal

The average square meter office prices in the region rose from between 5 thousand to 5 thousand 500 TL in 2013 to the range between 6 thousand  – 7 thousand TL in 2016. The M4 (Kadıköy-Kartal) metro line, which was opened in 2012, had a considerable impact in the development of the Maltepe-Kartal region, which runs along the length of the D-100 axis, and which stands out with its new generation office stock. It can be seen that office unit values are rising in the qualitative projects in the Kurtköy region, which has lower office prices when compared to Maltepe and Kartal. While in general, projects directed at the need for large offices are located from Maltepe onwards, for the length of the D-100 axis, there is a tendency towards smaller office areas nearer to the Kartal and Pendik regions. It can be seen that projects are concentrated along the Kartal Metro route, for reasons such as the diversity of the transport facilities in Kartal, when compared to other regions, the higher number of existing investments and its entry into the transformation process at an earlier date. It is expected that the railway system project recommended in the Kartal-Kurtköy-Tuzla-Gebze corridor, which is to be integrated into Marmaray, on the Anatolian side, will have a positive impact on the office stock being developed along the length of the axis.

Istanbul / Seyrantepe

The average square meter office prices in the region rose from between 10 thousand to 12 thousand TL in 2013 to the range between 14 thousand  – 18 thousand TL in 2016. The factors which will ensure that the investments to be undertaken in the region increase and gain pace are the Cendere Vadisi transformation project, the urban transformation projects, the opening of the Seyrantepe connection of the 4th Levent – Hacıosman metro, the entering into service of the Kağıthane – Piyalepaşa Tunnel, the strengthening of the links with the TEM, the move of the şişli Etfal Hospital and the realization of public sector projects, such as the Turkish Telekom Stadium.

Izmir / New City Center

izmir bornova
Izmir

The average square meter office prices in the region rose from between 6 thousand to 8 thousand TL in 2013 to the range between 9 thousand  – 10 thousand TL in 2016. The completion of the projects planned and under construction in the region will cause prices to rise even further.

Izmir / Bornova

The average square meter office prices in the region rose from between 3 thousand to 3 thousand 500 TL in 2013 to the range between 4 thousand 500  – 5 thousand TL in 2016. The completion of the projects planned and under construction in the region will cause prices to rise even further. The fact that it is an alternative region to the city center and sales are realized with lower prices than in the center, increases the demand for the region. As it is also possible to convert the projects built as business centers into residential properties, sales of the projects in the region are quick and the likelihood of them being preferred is high. The demand for and development of the region are also influenced by the fact that there are industrial and university areas in the region and the fact it has strong transport links.

Izmir / Alsancak

The average square meter office prices in the region rose from between 5 thousand to 6 thousand 500 TL in 2013 to the range between 7 thousand  – 9 thousand TL in 2016. The nostalgic tramway (Kordon tramway – 2,2 km), which performs a ring journey on a single line between the Alsancak TMO silos and Cumhuriyet Square, at Kordon is to be put into service, and this will solve the traffic problem in the city center. An opening – closing tunnel is to be built, with two lanes each way, on the route between the Alsancak tunnel and Vahap Özaltay Square, and the Gas Factory. While a museum is planned at the location of the Sümerbank Print Works Factory, Alsancak will be transformed into a cultural center with the conversion of the Kültürpark exhibition halls into a convention and exhibition center. There is a cable car project from Kültürpark to Kadifekale. Transformation is also being carried out on-site in the region, with the region being regenerated with a change to its existing texture.

Ankara / Eskişehir Road

ankara with flag
Ankara

The average square meter office prices in the region rose from between 4 thousand 500 to 5 thousand 500 TL in 2013 to the range between 6 thousand  – 6 thousand 500 TL in 2016. The Eskişehir Road is the region which is seeing the most interest, due to the strength of the transport links, the desire of companies to be a part of prestigious regions and projects and the fact that bureaucratic organizations, universities and prestigious living areas have chosen areas in this region. It is expected that this demand will also continue in the next three years.

Ankara / Konya Road

The average square meter office prices in the region rose from between 3 thousand 750 to 4 thousand TL in 2013 to the range between 4 thousand 500 – 5 thousand TL in 2016. Due to the fact that there remains only a limited number of vacant estates on the and the high prices of land on the Eskişehir Road, and its strong transport links, the Konya Road is the second most preferred region, as well as being among the regions seeing the most interest. It is expected that this demand will also continue in the next three years.

Bursa / Nilüfer – Odunluk

Bursa, Turkey
Bursa

The average square meter office prices in the region rose from between 2 thousand 500 to 3 thousand TL in 2013 to the range between 4 thousand 500 – 5 thousand 500 TL in 2016. There is a serious amount of office stock in the region as a result of the projects which have been completed in the last two years, or are currently under construction. Its occupancy rates are rising every day due to the transport alternatives when compared to the old center of Bursa and its car park advantages.

Bursa / Yıldırım – Ankara Road

The average square meter office prices in the region rose from between one thousand 500 to 2 thousand TL in 2013 to the range between 2 thousand 500 – 3 thousand 500 TL in 2016. The occupancy rates at the office projects which were commenced and completed at the same time as the Metropolitan Municipality of Bursa and the Bursa Title and Cadastral Directorate moving to the Ankara Road, are causing values to rise in the region.

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.