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Housing Profile in Istanbul is Changing

Branded Projects in Istanbul
Nova Property

The increasing number of new constructions in Istanbul in the last 10 years has also begun to change the housing profile in the districts. While new housing regions are being created on the perimeters of the city together with the new construction projects, the ratio of old and new homes in the districts in the center is also changing. 4 percent of the homes throughout Istanbul – that is 200 thousand of the 4.7 million homes in Istanbul – have become branded homes as a result of the new homes having been built since 2005. This has also resulted in a change in the districts where most homes are sold. The districts where branded homes are more concentrated have reached the top of the league table for sales.

Başakşehir in the First Place

Başakşehir, Istanbul
Başakşehir, Istanbul

EYG, the company belonging to Ömer Faruk Çelik, the Chairman of KONUTDER, has researched the group A and group B housing projects for which construction work and sales are continuing in Istanbul. In the ‘Istanbul Branded Housing Projects’ section of the study, it was revealed that the districts have also begun to become ‘branded’ together with the new housing projects. According to the study, the highest number of branded homes in Istanbul is in Esenyurt, with 40 thousand and 97 homes. The percentage of branded homes in Esenyurt, where there are a total of 321 thousand 468 homes, has reached 12 percent. On the other hand, in terms of the percentage of branded homes, the district with the highest ratio is Başakşehir. There are 21 thousand and 94 branded homes out of a total of 115 thousand 221 homes in Başakşehir, Accordingly, the percentage of branded homes in the district is 18 percent, putting it in first place in this respect.

Şişli also on the List

Şişli, Istanbul
Şişli, Istanbul

Having recently been developed in Şişli, the luxury residence projects have lifted the district to third place. 11 percent of the homes in Şişli – that is 14 thousand and 6 of the total of 122 thousand and 89 homes in the district – constitute luxury homes.

Şişli is followed by Küçükçekmece, standing out with the new projects built in Atakent. There are 13 thousand 706 new homes in Küçükçekmece. As there are a total of 260 thousand 961 homes in the whole of the district, the percentage of branded homes is reduced to 5 percent. Beylikdüzü and Sancaktepe follow Küçükçekmece, with the same percentages. To date, a total of 10 thousand 252 branded homes have been built in Beylikdüzü and 9 thousand 628 have been built in Sancaktepe.

Rising to the First Place in Sales

The districts at the top of branded homes league also have the highest share in the sales of homes. The same districts are also at the top of the list published by TÜİK, for the districts where the most homes have been sold. The 5 districts where the highest number of homes were sold in the first 8 months of this year were, in sequence, Esenyurt, Beylikdüzü, Pendik, Sancaktepe and Başakşehir. This shows the interest of homebuyers in new homes.

Transformation will Have an Impact

Urban Transformation
Urban Transformation

Branded homes in Istanbul are concentrated in the districts possessing the estates with large scale branded homes projects. As it is difficult to find large scale estates in the city center, the number of branded homes in these regions remains fairly low. For instance, only 120 of the 136 thousand 203 homes in Esenler comply with the definition of branded homes. The same is also valid for Güngören, with just 328 of the 96 thousand 551 homes in the district being branded homes, while the percentages in Sultanbeyli, Sultangazi, Şile and Beykoz do not exceed 1 percent.

Urban transformation is required in order to be able to increase the numbers of branded homes in these districts. Modern homes resistant to earthquakes will be able to be built and added to the stock of new homes, replacing the unhealthy structures in the districts, thanks to the transformation. In other words, the brand identities of cities will develop with urban transformation.

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