The metro line planned to be opened in 2018, which will reduce the journey time between Mahmutbey – Esenyurt to 40 minutes, has resulted in a 150% increase in property prices in Esenyurt in 4 years.
Those who invested in properties in Esenyurt have profited
Ömer Bulut, the Chief Executive Officer of ÖNTU Investment Partnership, which is bringing to life the Önay Life Residence project in Esenyurt, said that square meter prices in Esenyurt had risen from 800 liras to 4 thousand liras.
Bulut, stating that they had been continuing their investments in Esenyurt since becoming established in 2005, called to mind that they had completed the Esenbahçe and Önay Garden Residence projects. Bulut, who underlined that they are a company which has proven itself in Esenyurt, stated that the Önay life Residence project is still at the construction stage and provided details regarding the project:
The investment value of our Önay life Residence project is 120 million TL. It is comprised of 442 residential properties and 23 commercial units. Our target is a revenue of 180 million. There will be a 29-storey residential block and a 3-storey commercial units block in our project. The date of completion of our project is May 2018, and we have already sold 110 units.
Square meter prices of residential properties in Esenyurt were 800 TL in 2012, 3 thousand TL in 2015 and are 4 thousand TL in 2016
Bulut, who also gave details regarding the increase in residential property prices in Esenyurt, said that when they completed their second project in 2012, square meter prices were around 800 TL, when they had bought land in 2015, they were around 3 thousand TL, and together with the metro these prices had now reached 4 thousand TL, but that they would increase yet further when the metro opened. Ömer Bulut also emphasized that as the ÖNTU Investment Partnership they were offering their customers interest free payment terms of 30 months, and stated that they would be selling 80% of the 442 residential properties to foreign nationals.