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Kemerburgaz or Halkalı for Investment?

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Kemerburgaz or Halkalı?
Nova Property

Not every district is able to benefit at the same rate from the dynamism in the housing market. However, it is also salient that messages that ‘there is no chance of premium’ are being given in areas where the sales figures are low. We saw the latest example of this in the news in the press during the first week of March.

The newspapers which presented extracts of the “2014 Istanbul Branded Housing Survey”, prepared by Eva Real Estate Appraisal Consultancy, are stating that it has been determined that the regions of Istanbul where home sales are moving fast are Küçükçekmece – Halkalı, and that the region moving slowly is Kemerburgaz.

While the circulation of daily sales in Halkalı is 1.3, this figure falls to almost 1 per month in Kemerburgaz.

There are two factors which should not be overlooked here:

The first factor: While the prices of the secondary market homes in the Halkalı region start from between 100-200 thousand, 2 bedroom apartments at Göktürk are awaiting buyers at 500 thousand Liras.

The second factor: There is an ongoing transformation process in Halkalı. The number of alternative property projects is very high. Additionally, the share of sales and purchases for the purposes of investment within the circulation is quite high. On the other hand, the priority of the people seeking homes in Kemerburgaz is to live there, and there is a set number of projects they have to choose from.

Halkalı
Halkalı

Let us also state that the statement, “While estate agents in certain districts of Istanbul are just standing idly, others in other districts are selling homes like hot cakes – or in other words, like a pizza which is served in 30 minutes..”, may lead to Halkalı being perceived as valuable, while Kemerburgaz is perceived as not so. In reality, the only thing that makes the Halkalı real estate market dynamic is its pricing advantage. Quality branded and themed housing projects with social areas have begun to appear in the region in the last 10 years. While it is easily possible to buy a 1 bedroom apartment from this region for 150 – 180 thousand with a mortgage, let us also remind that at Göktürk, the only thing available for that price is a ground floor, second-hand apartment.

Our recommendation is first of all the Kemerburgaz – Göktürk axis.

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