Kartal is Playing The Summit in Housing Price Increase!
Istanbul's Kartal district continues to attract attention with increasing housing prices especially in recent years. Kartal has become one of the most important centers of Istanbul with its extensive investments such as Tavşantepe-Kadıköy Subway, Istanbul Anatolian Courthouse, coastal connection roads and urban transformation. With the increases in the last three years, Kartal has become one of the most valued cities of Istanbul.
The average square meter prices are at the level of 3 thousand 575 TL
According to the survey done by index.com, the average square meter prices in Kartal reached 3 thousand 575 TL. According to the survey, where depreciation periods are measured at 23 years, house prices have risen to an average of TL 320 thousand and TL 750 thousand.
Factors that led to the valuation of the Kartal
It is noted that the increase in housing prices in the district plays an important role in the fact that the vast majority of the housing projects that are passed down are near to the E-5 line. The E-5 line, which has been shown to be the strongest transportation obstacle in Istanbul, continues to exert upward pressure on the value of many public investments and houses in nearby areas. Some of these investments are as follows:
- Kadıköy-Kartal Metro: Kadıköy-Kartal Metro, which started to play an important role in the integration of the districts such as Tuzla, Pendik, Kartal and Maltepe with the Kadıköy-Haydarpaşa with the withdrawal of suburban lines, plays an active role on the housing prices. Proximity to metro continues to play an important role in the marketing strategies of the housing companies, while the tendency to appreciate the metro nearby districts is getting stronger. Kadıköy-Kartal metro has reached to the Tavşan Tepe from Yakacık and Pendik in 2017. It is expected that the line will be integrated with Sabiha Gökçen in the coming periods.
- Istanbul Anatolian Court of Justice: With the most comprehensive of the Justice Palace complex in Turkey and Europe, a large number of lawyers have flocked to the region, causing housing prices to rise. The complex has an active market power on its own with a large number of employees.
The most valuable districts of Kartal
Kartal district in some of the more upped the prices were determined. Especially in Kordonboyu coast, the price has reached 6 thousand 540 TL / sqm. In this segment where the average housing size is 130 square meters, the depreciation periods are at the level of 32 years. In these areas where the most precious dwellings of Kartal are located, it is seen that the average rental rates reach 2.400 TL. The average housing prices of TL 490 thousand and TL 1 650 thousand TL seems to be reached. Kartal's other valuable neighborhoods and price levels are as follows:
- Middle Neighborhood: 3 thousand 900 TL / square meter
- Petroleum Business: 3 thousand 800 TL / square meter
- Onion: 3 thousand 800 TL / square meter
- Orhantepe: 3 thousand 800 TL / square meter
- Çavuşoğlu: 3 thousand 600 TL / square meter
- Atlas: 3 thousand 600 TL / square meter
- Yalı: 3 thousand 600 TL / square meter
- Dolphin: 3 thousand 600 TL / square meter
- Hürriyet Neighborhood: 2 thousand 900 TL / square meter
- Uğur Mumcu: 2 thousand 900 TL / square meter
Rent average in Kartal district 1.570 TL
According to the published figures, the following average values are determined in the residential market in the province of Kartal:
- Average square meter prices: 3.575 TL
- Average residential house prices: 320.000-750.000 TL
- Average rental prices: 1.570 TL
- Apartment types: Housing types ranging from 1 + 0 to 5 + 1
- Amortization time: 23 years.