Bay Crossing Project increases housing prices in Yalova

Körfez Crossing Project has increased housing prices in Yalova: The Gulf Crossing Project revives Yalova Yalova is healing the wounds it took in the 1999 earthquake with the İzmit Bay Crossing project. The city, which has facilitated access to Istanbul with the project, has become a center of attraction for local and foreign investors.

Körfez Crossing Project revived Yalova Yalova is covering the wounds it took in the 1999 earthquake with the İzmit Bay Crossing project. The city, which has facilitated access to Istanbul with the project, has become a center of attraction for local and foreign investors. The city, where many local construction giants have developed projects one after another, has also become a center of interest for Arab investors. Luxury housing projects, thermal hotels, there is no large-scale land left in the city center.

Yalova, which joined the districts of Istanbul in 1930 at the request of the great leader Atatürk, became a province by taking Bursa's Armutlu, Kocaeli's Altınova, Subaşı and Kaytazdere into its borders with the Decree Law issued on June 5, 1995.

Yalova, which was used as a cure center by Atatürk and later became famous as a summer resort next to Istanbul and Bursa, was heavily damaged by the 17 August 1999 earthquake of Çınarcık and Altınova.

Yalova's fate changed with the Gebze-Orhangazi-Izmir Highway project, which was planned to open in the first quarter of next year. The fact that the project, which will make the distance between Istanbul and Izmir in 3,5 hours, will take place on Yalova, has led local and foreign investors to the city. Branded housing producers such as Ağaoğlu, Taşyapı, Demir İnşaat have taken the city under the spotlight. Arab investors who show interest in the city are also in the race to buy land.

Drawing attention to the fact that Yalova has made twice as much premium in the last year, TSKB Real Estate Appraisal General Manager Makbule Yönel Maya said, “Köfez Transition project, the interest of Arab investors coming to Yalova shifted to the city with the climate conditions and the presence of thermal waters, the ease of transportation to Istanbul contributes to the development of the city. provides. Arab investors are developing villa projects, especially by acquiring land.

1-Tourism potential with its historical and natural beauties and thermal resources.
2-The effect of the Gulf Passage and Gebze-Orhangazi-Izmit Highway.
4-Easy access to Istanbul, Kocaeli and Bursa provinces.
5-Arab investor interest.

Second-hand residences in the city center are sold at prices ranging from 2.250 to 2.750 lira per square meter, and new residences at a price ranging from 3 thousand to 4500 lira. Stating that Arab investors are particularly interested in Yalova, Altın Emlak General Manager Hakan Erilkun said, “With the Bay Crossing Bridge to be opened in March 2016, the distance between Gebze Dilovası and Yalova will be reduced to 6 minutes, and the distance between İzmir and Yalova to 3,5 hours.

New ferryboat and fast ferry services from Yenikapı, Eskihisar and Pendik will be added from Avcılar. Yalova will be the closest hinterland of Istanbul and Izmir from next spring. This will reflect on real estate investments as a premium of around 60 percent, ”he says.

Emphasizing that Termal and Armutlu districts receive demand in thermal tourism, Erilkun says that while the square meter prices of the land in these regions vary between 100 and 190 liras depending on the characteristics of the land, 20 percent of the sales are made to Arab investors.

Stating that the realization of new investments in Yalova increased the value of the city, Erilkun said, “The center of Yalova, Tavşanlı and Çavuşçiftlik regions are the other regions that receive the most demand. Here, proximity to the D100 Highway is the most important factor affecting the price of lands. In these regions, land square meter prices vary between 700 and 1.000 lira. In the residence, the sales price of a 100 square meter flat in Çiftlikköy and Altınova close to the center is between 160 thousand and 200 thousand liras ”.

The change in Yalova is remarkable. Yalova, which received 595 thousand tourists last year, became the province where housing sales to foreigners increased the most in the first quarter of the year. Housing sales to foreigners in the city increased by 191 percent from 100 to 291 in the January-March period compared to the same period last year.

Drawing attention to the great interest of Arab investors in Yalova, Yalova Chamber of Commerce and Industry (YTSO) Chairman Tahsin Becan says that the prices of real estates sold between 300 and 500 thousand liras in the past have increased to million liras.

Stating that Arabs tend to buy land and villas from the city, Becan said, “Three deputy mayors from Dubai have villas in Yalova. We are receiving high demand from Dubai. So much so that at the beginning of the year, people of Arab origin bought an average of 20 properties a day. Since there is a quota for foreign sales, the quota of Arab origin is full in the center. Those who want to take part are directed to Çiftlikköy ”.

Becan, along with the natural beauty of the Gulf Transition Bridge with ease of access to the city in the last one year increases the price of land in the square meter 150 liralara emerges.

According to the information we received from Yalova Municipality, approximately two thousand Dubai residents live in the city, which attracts tourists from Arab countries and the Middle East. In fact, four of Dubai's deputy mayors and police chief have villas in Yalova.

Yalova Mayor Vefa Salman, who pointed out that they had difficulties in showing a place to those who want to invest in the region because 59 percent consists of forest land, explained that they had difficulties in finding large-scale land in the city, and that the Jockey Club could not respond to the 450 thousand square meter space demand. While Yalova's population is increasingly low, it is predicted that the city population, which is currently 3 thousand, will double in 5-230 years after the Gulf Crossing Bridge.

It is pointed out that the number of thermal hotels and boutique hotels in the city's Termal district has exploded, and the region is very attractive to Arabs. The total bed capacity of the facilities in Yalova has reached 7 thousand. The 704-bed Zem Zem Hotel in Termal district opens this year, while Tuan Hotel is planned to be operational by the end of the year.

Stating that the interest of domestic and foreign investors brings with it different investments in the city, Cansel Turgut Yazıcı, General Manager of Eva Real Estate Appraisal, said, “The local investor, while investing in fields and lands in the districts and holiday regions on the Gebze-Orhangazi-İzmir Highway project route, mostly turns to commercial real estate. Local developers, on the other hand, develop villas and housing projects and market them to foreign investors. “Thermal, Çınarcık, Altınova and Armutlu Körfez attract the attention of investors”.

Printers, who settled in Turkey because of the war in Syria and the Iraqis they live here, they do emphasize the rich countries of the Gulf investment cottage.

It is stated that the zoning plan studies are carried out in order to construct the 100-bed State Hospital, which is on the agenda, in the city center on the Bursa-Yalova Road on approximately 400 decares of land. It is said that the construction of a project similar to the Highway Outlet Shopping Center in Bolu, in the Altınova section of the Istanbul-Bursa-Izmir Highway, is also on the agenda.

Demir Insaat's Chairman of the Board of Directors Hamit Demir said, “It is seen that the land prices have reached a certain saturation in Yalova, which has been a shining star in recent years and has received domestic and foreign investments. There is an expectation that the settled life in the city will increase in the next period. Therefore, we expect new real estate projects to be implemented in the city. We hear that there are studies in this direction. " said.
Demir said, “With large public projects, cities such as Yalova, which are quiet in terms of receiving investments, receive investors. We see Yalova as the most valuable location of the Istanbul-Izmir highway. The new projects to be made will increase the housing sales figures to foreigners and turn Yalova into an international brand. We see this potential in Yalova and plan an investment that will make a sound there. We also hear that many local and foreign investors are doing investment research in Yalova. " conveyed his opinion.

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