Istanbul’s Third Airport and Impact on the Real Estate Market in Istanbul
Istanbul’s Third Airport, Its Importance, Location and Impact on the Real Estate Market in Istanbul
The real estate market in Istanbul is the most controversial in recent times. Especially after the amendment of the law on the acquisition of Turkish citizenship through the acquisition of property. The door to investment in real estate buying in Istanbul has become wide open to encourage investors to penetrate this market. This undoubtedly serves the end of achieving the vision of 2023, which aims to strengthen the economy of Turkey, making it one of the top 10 economies in the world.
At the beginning of 2014, there was a huge uproar about the establishment of a large airport. It would be the largest airport witnessed by Turkey and the world around it. This airport comes as an important step to support development and raise investment rates significantly. As well as improve and develop the reality of tourism in Turkey, and thus support the Turkish economy.
Now, the question is: Will the new airport achieve all these aspirations? Let’s take a closer look to know those details.
The Third Airport In Istanbul
The third airport in Turkey is located on an area of 7659 hectares (hectares = 10000 m2). This area is located in the European section of Istanbul near the Black Sea, in the Arnaout Koy area. The total cost of building this project amounted to approximately € 24 billion.
The airport has a very large number of bridges, runways, waiting rooms, as well as lounges. For this reason, this huge area has been exploited.
As for the technical characteristics of the new airport: the airport has 165 bridges dedicated to the reception of passengers. Also a railway is established to connect the terminals of the airport. This makes it easier to move between them. The airport also has 6 independent runways for landing and take-off. The aircraft garage can accommodate up to 500 aircraft and parking for 70,000 vehicles.
Istanbul Airport also has three technical and electronic observation towers and eight other towers. And many more about the interior details of the new airport. This invited economic experts to say that the establishment of the airport by these specifications enhances the status of the geographical location of Istanbul as a basic station and a corridor for passengers around the world.
Support of the New Airport to the Turkish Economy
From the above, it is clear that Istanbul airport with these huge specifications will have a great impact in supporting and revitalizing the Turkish economy in a big and effective way. It is expected that the airport will contribute 4.9% of the total domestic income in Turkey.
As for the means by which the new airport will support the economy of Turkey, it is many and many, such as: activating the trade movement, reducing the unemployment rate significantly, and many other means. We will focus here especially on the real estate side in Istanbul, and what can happen Buying and selling real estate in Istanbul.
The new airport project has provided over 80,000 jobs during its establishment. And after its operation, this has doubled to nearly 130,000 jobs. By 2025, job opportunities are expected to reach 225,000 and contribute about US $ 20.5 billion to the Turkish economy.
It is also important that the airport will provide flights to more than 350 destinations worldwide. As well as cooperation with nearly 100 airlines, all from 2025. According to these statistics, the airport is expected to carry more than 35.5 million domestic, 85 million international flights.
All these things and others are driving the investment force to give a serious consideration to the area around the new airport. The exploitation of this area in real estate well returns the great positive impact on investors, and on the economy of the state in general.
Support of the New Airport to the Real Estate Purchase Market in Istanbul
The airport has a capacity of nearly 200 million passengers a year. The new airport is competing with Dubai airport, which is one of the busiest airports in the world. We think this will not last after Istanbul’s third airport.
These large numbers encourage the investment of the area surrounding the airport in the purchase of real estate in Istanbul. This will increase the population demand in this region. Not to mention the many who wish to acquire Turkish citizenship by owning a property, this area – surrounding the airport – is one of the most prominent and distinctive places to get the property there, especially for foreign investors.
One of the important things to think about is: the workers and employees – the former mentioned – who have jobs at the new airport. Where would they live?! Not only them, but the foreigners, passengers and travelers in large numbers – which we mentioned – where they stay until the date of their aircraft? Where they come down after coming from travel?!
Investors should seize the opportunity to purchase real estate in Istanbul. Specifically in these areas adjacent to the new airport. Because the presence of the airport in the region will have a significant impact on property prices in Istanbul. Therefore it is a golden opportunity for those who want to invest money in real estate.
The region around the airport is now well positioned economically to start investing in it without concern. Its promising future is shining on the horizon now. Imagine with me, when someone invests in this area now for a certain amount. How much will this amount be earned in one year?! So how many years later, or more?!!
If you are lucky to get Turkish citizenship by owning a property, you have bought property in Istanbul in this area adjacent to the airport. Then wanted to sell this property after three years – set by law to sell the property you bought – how much you will earn from this property Region specifically? What if you own two properties instead of one?! It is a very strong investment that should be well exploited.
The Best Way to Start Investing In This Area
Let us first emphasize that the purchase of real estate in Istanbul is the safest and most profitable way to invest. As we mentioned at the beginning of the article about the positive impact of this new airport on the real estate market in Turkey in general, and Istanbul in particular.
If you do not know how to start your own investment in this field, or would like to acquire a Turkish citizenship by owning a property, just Contact Us, to know what criteria and conditions you would like to have in your property. Then offer you the right property that meets your terms, your specifications, and the wishes you want to achieve.