There is a decrease in prices of residences in Kadıköy, Caddebostan, Erenköy, Suadiye, Göztepe and Fikirtepe. The reason for that is urban transition that has been continued for 2 years in that regions.
5 thousand buildings are renewing in Bagdat Street
Bagdat Street is one of the main point of Istanbul. Thus, especially in here the contruction works are continuing. In here 5 thousand builndings are going to renew. In fact, the requests from the region caused to stay undone for some projects. Chairman of the Anatolian Building Contractors Association Melih Tavukçuoğlu made a statement about the subject and said that the construction works are affecting the price of residences.
Prices decreased in the regions with urban transition workings
Tavukçuoğlu said that the prices has decreased in Caddebostan, Erenköy, Suadiye, Fikirtepe and Göztepe. For instance, in Fikirtepe square meter of an ordinary residence prices decreased nearly 3 thousand liras. This number is around 4 rhousand in Bağdat Street.
The urban transition will last 35 years in Kadıköy
TSKB Real Estate Appraisal represented a report. According to this report, times or transitions are changing from region to region. In this sense, the urban transitions will continue 35 years in Kadıköy, 32 years in Fikirtepe, 30,5 years Ataköy, Istinye, Zeytinburnu and Tarabya. By thinking so, the prices will stay low for at least 30 years in these regions. According to this thoughts, advisors have said that now is the right time to make investment in real estates.