New Istanbul airport

The opening of the biggest airport in the world, the new Istanbul airport (Code: IST), was one of the most prominent events that changed the course of economic and development events in the world due to its greatness, its magnitude, and its service capabilities, and for Turkey to achieve its vision centered on making Istanbul the most significant financial, economic and commercial center in the region, where Turkish President Recep Tayyip Erdogan inaugurated on October 29, 2018, Istanbul's new airport, which is the largest in the world after completing all its stages and coinciding with its opening, a significant movement in the field of real estate ownership in Turkey. And its impact on the real estate market in Turkey.

New Istanbul Airport Location

The new Istanbul Airport is located in Arnavutkoy on the European side of Istanbul, within a forested area and nature reserves. The airport area is estimated at 76.5 million square meters, and the area of ​​the main airport building is 1.3 million square meters, which is the largest airport in the world.

Istanbul's new airport extends along the Black Sea coast; the airport is built on Çatalca, Göktürk Arnavutkoy junction, and close to Terkos Lake; the airport's location is ideal. The distance between the new airport and Ataturk Airport is 35 km which will be at the bridge connection point where you will reach The most convenient way from the city of Istanbul.

The importance of the new Istanbul airport

This airport had to be built, especially after the increase in the population in addition to the increase in the number of tourists who come to Turkey; where nearly 90 million people live in Turkey, and the population increases with the increase in the number of tourists throughout the year, and the presence of two airports in Istanbul with this air traffic Density is never enough for these numbers, so the government has embarked on building a new airport in Istanbul, which has a population of about 22 million people, including no less than 4 million residents.

In this regard, the Turkish government has sought to attract and acquire the most significant number of commercial centers and giant companies in the world and established the new airport in coordination with significant projects that all converge at one point, as it combines the airport area, the express transport line, the express train line, and the parallel sea channel to the Bosphorus "Canal Istanbul" "One road, and the site also provides travelers with the opportunity to access air, land, and sea transportation centers at the same time.

The airport is connected to Istanbul's city center with a modern and developed network of subways, where work is currently continuing to establish this subway network.

Istanbul's new airport is witnessing an increase in interest fromforeign investors.

Istanbul airport map

Advantages of the new Istanbul airport

The airport is considered the largest in the world. In addition, it contains more than 300 flight points, 250 of which are international.

The airport has a car park and a garage that can accommodate about 40,000 cars at a time.

The airport is characterized by being the safest airport in the world, as security radar systems have surrounded it in addition to very advanced surveillance systems and cameras, as well as internal security devices characterized by installing and identifying explosives before detonating.

Planes can go to the airstrip at the airport containing 143 pedestrian bridges and 655 between walkways, electronic stairs, and elevators.

The airport will secure flights that will take 3 hours to travel to approximately 41 countries and flights that will take 5 hours to travel to 66 countries worldwide.

The airport includes children's play centers, conference rooms, health centers, places of worship, and a hotel with 451 rooms.

Istanbul airport Code: IST

A new metro line will be opened linking the new airport with the Halkalı metro, passing by the Kayaşehir – Başakşehir metro, covering a distance of 34 km.

The importance of the geographical location of Istanbul throughout history, as Turkey became, with the entry into service of Istanbul Airport, the essential transit center between the four northern, southern, eastern, and western axes of the world.

Istanbul's new airport and its impact on the real estate sector

After the opening of Istanbul's new airport, its effects have appeared on the most prominent sectors in Turkey, the most important of which are the sectors of the economy, tourism, and real estate. 

At the level of the tourism sector, tourist demand has increased in Turkey, and tourism rates and daily and seasonal returns have risen.

As for the real estate sector, there has been an increase in real estate investment opportunities in the surrounding areas and close to Istanbul Airport, and this particular thing has begun to see its signs through the high prices of apartments in Istanbul in the areas surrounding the airport, especially the real estate of Basaksehir.

Finally, the new Istanbul airport has constituted a significant turning point in the path of Turkish economic progress and development, as Turkey aspires to reach one of the top ten countries in the world in terms of the economy by next year. It is expected that the return from the airport's revenues will amount to about 5% of the total revenue Turkish economy.

The importance of Istanbul's new airport:

This vast project has gained the city of Istanbul additional strategic importance and created a new transportation network and transport routes that construction and real estate companies in Turkey have worked to exploit and employ to achieve an additional benefit. Therefore, the construction of the new Istanbul airport has been positively reflected. On real estate prices in Turkey.

Many find that the real estate investment sector in Turkey is the sector that benefits most from the new Istanbul airport project and the associated transportation network, as the prices of real estate located near the airport or in the surrounding areas have witnessed an impressive jump as they have a strategic location and value. 

High investment and real estate experts expect that real estate in the vicinity of the airport will witness further growth and gain additional importance due to the global importance enjoyed by this airport and thanks to the projects of express transportation routes that work to connect the airport with the rest of Istanbul, which contribute to raising prices Real estate more and more as the areas through which these roads pass are witnessing a quantum leap in the investment value of their real estate, such as the Besiktas area, the Sisli area, the Kagithane area, in addition to the Ayoub and Arnavutkoy regions.

Areas where real estate prices have increased thanks to the new Istanbul Airport:

1) Besiktas area in Istanbul:

Real estate prices in this region have increased dramatically since the start of the new Istanbul airport. The launch of its transportation network, one of its express lines passes within this area, as the average price of one square meter in any real estate in the Besiktas area in Istanbul has reached 50.000 Turkish liras. According to real estate analysts, the average expected investment life for real estate in such a region is about thirty-five years. For real estate, therefore, the investment value in the Besiktas region is expected to increase equal to zero, one percentage point.

Depending on the values ​​of the annual increase in the value of real estate investments, the neighborhoods that witnessed the most significant growth in the investment value of their real estate properties can be classified into Besiktas, Etiler, Ulus, and Levent, in addition to a relative neighborhood.

2). Sisli area in Istanbul:

Sisli also benefited from the new Istanbul airport and the transportation routes that pass through it, as real estate prices in it witnessed a good increase, as the average value of the price per square meter in the region reached about 5.450 Turkish lire, for the average expected investment life for real estate The Sisli district in Istanbul is twenty-four years. When studying the average annual increase in the values ​​of real estate investments in the region, we find that the Harbiye district, the Republic, and the Mahmud Shaukat Pasha area are the neighborhoods that top the list of the most developed area in the Sisli district in Istanbul.

3). Kağıthane area in Istanbul:

Despite the high real estate prices in the region, they are less than those seen in the two previous regions, as the average price of one square meter of Turkish real estate in the region is 3690 Turkish liras, and the average expected investment life for construction is 22 years. According to the average annual increase in the values ​​of real estate investments in the region, the district of Seyrantepe, Yeshilji, Telesizler, and Al-Hamidiyah neighborhoods are the most developed neighborhoods.

4) Eyup Sultan area in Istanbul:

As for real estate prices in this region and their impact on Istanbul's new airport, the average price per square meter has reached a value of 3,600 Turkish liras, and the average expected investment life in it is 18 years. In contrast, according to the average annual increase in investment values. T, the most-developed neighborhoods in real estate, is the district of Güzelepe, Ali Beyköy, and Mimar Sinan Street.

5) Arnavutkoy area in Istanbul:

Like others, this area has been affected by the new Istanbul airport, as it is located on its periphery. As a result, real estate prices have increased so that the average price per square meter reaches more than 2.000 Turkish liras. The average life expectancy of real estate in the Arnavutkoy area in Istanbul reaches an estimated 25 years, According to the estimates of real estate experts.