Shop rents in subway transfer tunnels in Istanbul exceeded rents of luxury shopping malls. The rent of the shops under Zorlu Shopping Mall has increased almost 50 percent above the top.
Recently, the metro network in Istanbul has been constantly expanding, and the number of stations has increased in parallel. Underground tunnels, which are made especially for the integration of metro stations in the central points of the city to other transportation systems such as metrobus, are increasing accordingly. The expansion in rail systems began to attract all human traffic to these tunnels. In tunnels where the circulation is so high, rental prices have been burning recently. The shops in the transfer tunnels, which earn a lot of investors, surpass the averages of the shopping malls just above the rental prices.
90 DOLLARS PER METERS
According to the researches carried out by several different real estate research companies in Istanbul, the average square meter rental price in shopping malls is 35-40 dollars. This figure goes up to $ 45 on the European side. In shopping malls in the most luxurious districts, this figure forces $ 65. However, in recent years, $ 90 per square meter of shops in subways has displaced the seat of shopping malls.
MONTHLY 10 THOUSAND LIRA RENT
There are 13 shops in the metro transfer tunnel in Zincirlikuyu, including bijouterie, telephone, buffet, hairdresser, pastry shop and coffee shop. Each shop has an area of 30 square meters. Each of them is 10 thousand pounds per month. 89 million people used the metro line where the tunnel is located in the first nine months of this year. One of those who come and see the high circulation here is Murat Çini. While he is working at Koç Holding, he travels to the USA for a holiday and sees the concept of boutique coffee in Manhattan. Çini, who then came to Istanbul and was looking for a place to invest, explains why he came to the subway tunnel: “I have been operating this place for 4 years. I wanted to open a coffee shop and wanted to take advantage of the incredible human traffic here. People are constantly passing. The number of people who want to consult about a topic or want to ask an address is very high. They can see and buy the product on the side when asking a question. Apart from that, the number of offices around is very high, and in the evening, white collar people consume heavy coffee. We cannot keep up with demand during these hours. If you sell some quality products, you really have a lot of customers. While at least 250 customers pass by a day, it stops by my shop. ”
The common purpose of those investing in the tunnel is to benefit from traffic during business hours. The business journey of the people of Istanbul coincides with the most time spent in the tunnel. The hairdresser in the tunnel also says that the women who come to take a hair dryer in the morning make up a queue. According to the shopkeepers in the tunnel, the shop that does the most work in the tunnel is the telephone shop and the buffet. The tunnel was built by İBB with the Build-Operate-Transfer model for Zorlu. The main operator is actually Metro Istanbul. According to the last contract, 10 thousand lira is paid per shop. Tradesmen believe that they will sign new contracts with Metro Istanbul next year and rents will increase even more.
250 TL IN 333 TUNNELS IN THE SHOPPING MALL
The average square meter price of a small number of shops, which have a minimum of 100 square meters of space on a single floor in Istanbul, and which have the highest pedestrian traffic, are located in the shopping malls, and the number of these private shops is very low.
The average of the remaining shops is also $ 40. In addition, at the time of the figures, that is, at the beginning of 2017 when the rental contracts were signed, the dollar / TL was around 3.60. In a shopping mall in Zincirlikuyu, where average rents are the highest, the rental price per square meter to the environment is around $ 65, or 250 liras, at the current exchange rate. The average square meter price of the shops in the transfer tunnel, which connects the underground and metrobus, which also provides transportation to the shopping mall, is 333 TL. So most of them surpass the prices in luxury shopping malls. Prices in most transfer tunnels and metro stations in Istanbul are very close to the prices here.
Source : I www.gazetevatan.co