How Marmaray Affects Housing Prices

How Marmaray Affects Housing Prices: According to EVA Gayrimenkul Değerleme, the Marmaray project will bring serious action to the real estate market.
Marmaray will move the real estate market to Yenikapı-Sirkeci-Üsküdar line
The Marmaray project, which will be put into service on October 29, is the first rail system transition between Europe and Asia, while real estate prices in a wide area
and rents will also be a decisive factor. EVA Real Estate Appraisal General Manager Cansel Turgut Yazıcı examines the developments in the real estate market with the Marmaray project.
According to the study carried out by EVA Gayrimenkul Değerleme Danışmanlık A.Ş., one of the leading companies in the valuation sector, the 'Bosphorus crossing' of the Marmaray project, especially between Kazlıçeşme-Yenikapı-Üsküdar-Sirkeci-İbrahimağa, has a special quality in terms of the real estate market.
Connection points come forward
Expressing that the Bosphorus crossing will further consolidate the identity of being the 'center' of the historical core of Istanbul, considering that the suburban lines are also connected, Yazıcı considers the Yenikapı-Sirkeci-Üsküdar line as the nodal points in terms of rail system and seaway connections. Yazıcı states that at these two points, especially property prices will move more than their surroundings, and that property owners are currently holding their rental residences in neighborhoods located in the Üsküdar central region, a maximum of 10 to 15 minutes away from the exit of the station.
On the other hand, many houses currently rented in the central area of ​​the Marmaray opening will not have much influence in the buildings in the old buildings that stated that the printer, demanded apartments are waiting for the opening of the property by the owners of Marmaray. Sirkeci-Yenikapı region is located within the boundaries of the historical peninsula is already limited to the land supply and new housing or branded housing is a region where the rare stating that the printer, the nearest branded to this region is located in the Yedikule-Zeytinburnu-Bakirkoy line, due to the proximity of Kazlıçeşme station he also emphasizes that an increase is expected in these regions.
Commercial sites will be valued on the European side
On October 29, 2013, the stations between Kazlıçeşme and İbrahimağa, known as the 'Bosphorus crossing' stage of the project, come into operation. These stations will also be integrated with other regions and all targeted connections will be completed by 2016. Therefore, according to Yazıcı, real estate movements of the regions will also differ from time to time.
In the first place, the area around the stations indicated in the throat transition zone is expected to increase in unit square meters. Currently, there are many luxury branded residences in Kazlıçeşme-Yedikule region, such as Yedikule Mansions, 16 / 9, Ottomare Suits, Istanbul Veliefendi, Coastal Park, The Istanbul Residence, Bakırköy 46, Real Istanbul. It changes between TL / m5.000.
In the interviews conducted with branded projects in this region, the printer states that although it is not a price policy for the opening of the Marmaray project, it is difficult for the price changes made in the periodical periods to be effective, but how much increase will be provided. Moreover, as most of the projects are about to be completed, the price policy of investors is not known.
However, according to Yazıcı, the housing market in this region is not expected to react in the first place, as there are no residential areas between Yenikapı and Sirkeci, which is one of the regions with which the project is directly connected, and there are limited housing conditions in the historical peninsula. However, it is claimed that there will be an absolute increase in the rental prices of the old business inns in Sirkeci and its surroundings and the shops on the street. As a result, Yazıcı noted that the Sirkeci-Yenikapı region, which will become an easily accessible region from many points, will play a very important role in the transfer center of Istanbul in a few years, especially from which point a person who will travel by rail system between the two sides started his journey. He points out that he will have to stop by Yenikapı, Sirkeci or Üsküdar stations no matter what.
At least% 10-15 increase in rent on the Anatolian side
The Üsküdar center region, which is the first stopping point on the Asian side of the project, is already a prominent area of ​​ancient settlements. The printer notes that, since rented houses are more suitable than the European side, it is a preferred location for university students, and the prices are at 1 million Euro at Üsküdar Prestij Park, which is the only project within walking distance to the center, even if no branded houses are found.
Marmaray project will affect the Üsküdar real estate rental housing will be more expressing that the printer, currently in the center of the region there are problems in finding housing for rent, the reason that the owners of the project waiting for the project and the emergence of universities, the emergence of housing needs.
100 m2 apartment in the center of Üsküdar is rented between 900-1.500 TL. When the landscape element is activated, rents can even exceed the 3.000 TL. Nevertheless, Marmaray is expected to accumulate demands and act according to the demands of the owners who are waiting for the project to be put into service. However, the printer expects property owners, who are waiting for the real estate market to move for a long time, to raise their rental prices by at least 10 to 15. On the other hand, it is estimated that this rate will increase even more within a year. In terms of this development, the effect of the rail system projects is a means of transportation that makes it feel clearer. underlining.
Anatolian side metros affect the real estate market
In connection with the study, Yazıcı determined a 2012 percent increase in the unit square meter value of branded residences in the Kartal-Maltepe region in the period of April 2011-December 2012, that is, 19 months, within the scope of the “Branded Housing Sector Report” published by EVA Gayrimenkul Değerleme, in December 30. It also reminds you what it does.
The factors affecting this increase in Kartal-Kadıköy Metro, the world's largest court of justice, Kartal Courthouse, and the long-awaited transformation project is mentioned as a solution phase. Expressing that investments have increased in the Kartal region as a result of all these factors, Yazıcı emphasizes that the real estate market has also gained speed in this region.
From Marmaray and Ibrahimaga station KadıköyYazıcı stated that the Eagle metro connection will be provided, so that it can be reached by rail systems from Kartal to Kazlıçeşme as of 2013. HalkalıUninterrupted transportation can be provided until. The printer, the development of the Eagle region will increase the attraction of this underlines.
Yazıcı, who noted that the current unit square meter values ​​of branded residences in the region, which made 30 percent premium in about two years, are currently in the range of 3.000-5.500 TL / m2, and also that the urban transformation problems in the region have been solved and the process has started, DKY İnşaat, Ege Yapı, İş GYO, Dap Yapı, Fer Yapı, He states that it is certain that branded companies such as Ağaoğlu will make new investments in the region. Yazıcı emphasizes that an important breakthrough has started in the office sector with the opening of the Palace of Justice, that Kartal has become a region that has covered a lot in real estate in a short time, and that the connection of Marmaray's project will contribute to this momentum.
Marmaray's Üsküdar station will be connected to the Üsküdar-Ümraniye subway until Çekmeköy-Sancaktepe'ye reminding the printer, the project will be launched in 2016, metro-based mobility will be lived in the Çekmaköy-Sancaktepe region.
Since the land supply to new investments can be more easily met, the projects are mostly developed in the Çekmeköy-Sancaktepe area. Printer units in this region of the unit square meters in the range of 2.750-4.000 TL / m2 in the range of changes in the printer, the last two years, an increase of approximately 15 to 20 rates are recorded. This increase in the metro connected to the Üsküdar metronının that the effect of the printer, Marmaray Halkalı 2015, Çekmeköy-Üsküdar subway in 2016 and Çekmeköy-Halkalı The transportation will take place in less than a minute with the 70 rail system. The printer will see an increase in demand due to more preferable places, especially today's investors will see high demand when they are rented after a few years. Even though there will be an absolute increase in rent values, it is stated that a percentage is not true for the time being. for several months after opening.
Marmaray to integrate with other investments in the region
As of 2015, when Marmaray will be completely finished, the Istanbul Strait Tire Wheeled Tunnel (Kazlıçesme - Göztepe Junction) project, known as the Eurasia tunnel, will also be completed and the travel time between Kazlıçeşme and Göztepe will be significantly shortened. These regions where Marmaray's stations are located will thus stand out as advantageous regions in terms of both vehicle and public transportation. Apart from that, Üsküdar Square will undergo a great transformation with the Marmaray Project and with the completion of the Marmaray station, Üsküdar's identity as the center of transportation will be much stronger.
Yazici says the following about what the Marmaray project means when evaluated together with other related projects: “In Istanbul, especially after 1960, the residential areas that developed unplanned around the suburban lines have entered a transformation process with the Marmaray project. Looking at the transformation and transportation plans, it is better understood that Marmaray is an upper scale transportation plan. The suburban line, which "lost its appeal" due to the highway-centered development policy in Istanbul, becomes attractive again with the Marmaray project. Real estate values ​​of residential areas located on or around the line have already increased. The intensity of "urban transformation" projects planned by the municipality or by private sector initiatives in settlements with increasing rent value is remarkable. On the European side along the Marmaray route Halkalı, Küçükçekmece, Zeytinburnu, Kazlıçeşme, Sulaymaniyah are the regions with urban transformation plans, the tender of the Cruise Port project known as Galataport was made this year. On the Anatolian side, Haydarpaşa, Kartal, Pendik and perhaps with this project, there are transformation plans in Gebze, which will be closer to Istanbul. On the other hand, Kartal and Küçükçekmece are planned to be developed on the Marmaray route as the central business area (CBD). While rail systems such as Paris, London use forty percent of the population in developed metropolitan areas, this figure is only 10 percent in Istanbul. In this respect, Marmaray is a very important project that will both increase the share of rail-based transportation and bring mobility to the real estate sector.