Urban transformation and transportation projects increased both real estate investments and prices on the Anatolian side. Kartal was the most notable location in the region that became competing with the European side in the value increase.
Kartal, one of the most active cities in the real estate market in Istanbul, has become the attraction center of the Anatolian side. Real estate investments are increasing rapidly thanks to subway and justice palace investments turning the region into an important attraction point. The proximity to the E5 and TEM highways, the transportation advantage brought by Kadıköy-Kaynarca metro, Marmaray, high-speed train, Sabih Gökçen Airport and Osmangazi Bridge have made the region a good alternative on both production and demand sides. While the interest in the area brought about the urban transformation in the land of limited space, contractors accelerated the conversion work in old factory land and housing.
73 percent choose Kartal to reside
Underlining the fact that Kartal is one of the pilot regions in urban transformation, experts point out that Kartal will be an important center in Marmara basin in the following years. The proximity to the long coastline, Aydos forests, geographical location, financial center and public investments, the landscape and the investor-friendly approach of the local government brightened the region’s star. It is known that 73 percent of household investors in Kartal, where currently 10 thousand 935 units are being constructed in the 36-brand projects, prefer the region to reside. Offering a high premium for investors in the last couple of years, the price range was ranging from 1 thousand 500 liras to 4,500 liras in 2011 whereas today this number varies between 4 thousand and 13 thousand liras. In the region, where the smaller apartments are preferred, 35 percent of the units in the rising projects constitute 1 + 1 and 33 percent 2 + 1.