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Istanbul Property Market Expectations

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Turkey property figures

Aziz Torun, the Chairman of GYODER, says that new regions are coming to the fore in Turkey, in many cities – primarily Istanbul, Izmir, Ankara and Bursa – together with the transport projects and transformation activities.

aziz-torun-gyoder
Aziz Torun

Torun points out that Istanbul, in particular, is a city which rises in value by an average of 20 percent every year. Torun says, “When compared with the cities of the world, such as Paris and London, Istanbul is still a very cheap city. New settlement areas have come to the fore in the city, together with the transport projects. It is possible for the city to reach the values it deserves, by promoting it to foreign investors.”

Torun emphasizes that large public sector projects, such as the Third Airport, the Yavuz Sultan Selim Bridge, the Eurasia Tunnel and the Three-Storey Istanbul Tunnel are increasing values in the regions they go through, and that they would continue to raise values in the next 3-4 years.

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