There were residence prices decreasing in Suadiye, Erenköy, Fikirtepe, Kadıköy, Caddebostan and Göztepe neighborhoods of Istanbul. The main reason for that was shown as the on-going urban transtitions in these areas.
5.000 of buildings are renewing in Bagdat Street.
The renewing and contruction works are going on especially in the area of Bagdat Street. In fact, the high number of requests were lead to stay incomplete of some projects. Melih Tavukçuoğlu, Head of the Construction Contractors’ Association of Anatolian Side had given a statement situation. He said that the construction works and urban transition projects are affecting residence prices. Urban transition projects are quite necessary for cities. Thus, the decrease in prices should be tolorate.
Prices decreased in urban transition areas.
Tavukçuoğlu said that prices decreased especailly in negihborhoods as Erenköy, Caddebostan, Kadıköy etc. Previous price of metersquare of residences was 9000-10000 Liras, but now it is only in between 6000-7000 Liras in Bagdat Street.
Completing time for Kadıköy is 35 years.
According to the report prepared by TSKB Real Estate Appraisal, urban transition times are changing from village to village. In accordance to this, the time of urban transition for Kadıköy is 35 years while Fikirtepe is 32,6 years and others are approximately 31 years. This may bad for selling a property but it is a very good time to buy a house. It will be renewed house with all properties and will have reasonable price. Thus, it is perfect time for investors in real estate market.