Kagithane, the alternative investment destination in the center of Istanbul
The center of Istanbul, which is close to the Bosphorus, is the best place for real estate investment, especially in the European section of Istanbul in Beyoglu, Sisli, and Maslak, where there are few new projects and therefore the demand is high, whether for rent or even easy resale later.
Certainly, we did not mention the areas adjacent to the Bosphorus, such as Besiktas and Bebek, because there are no new projects in these areas in the European section of Istanbul, and in the Asian section we can find real estate’s worth more than $ 1.000.000 for a two-bedroom apartment in some of the new projects in Uskudar and Cengelkoy areas. For projects with a view of the Bosphorus and more affordable prices, we have detailed it in a previous article bosphorus view apartments for sale in istanbul
Today's topic is different and it suits investors who are looking for real estate at prices lower than the prices of the Istanbul Center and at the same time in a promising investment area in the future, let us define the Kagithane area in the European section of Istanbul and talk in detail about the investment advantages in this area.
We can see from the map that the Kagithane area represents the second line after Maslak, Levent, and Sisli areas in relation to the Bosphorus, and it has been an independent municipality since 1990, with a geographical area of 23 square kilometers and a population of about 450 thousand people. Kagithane meets Sisli on the E5 road in the south, while in the north it meets with Maslak and Eyup at the TEM road, and these two roads are considered the most important in Istanbul, as each of them connects between the European side and the Asian side through the first and second Bosphorus bridges, and from the west, Kagithane meets with Levent, which is famous for its high towers.
Now, after defining the geographic location of Kagithane, we come to the important question:
What are the investment advantages in the Kagithane area?
1- The investment site
Kagithane has very impressive advantages in terms of geographical location, as we noted above, as it extends between two important roads and is adjacent to the best investment areas in Istanbul and has competitive prices for nearby areas such as Sisli and Maslak.
2- Competitive prices
This bridge in the picture below separates the path of high-rise towers from the Kagithane area, and the idea of competitive prices is very clear if we know that the project behind the bridge in the path per square meter has about $ 3000, while the project on the side of Kagithane has a price per square meter of $ 1700.
For details on this point, we would like to clarify that the prices of a square meter in the Maslak area in the project under construction are about $ 2600 and in ready projects is $ 3000 and above. There are no permits to build new projects, as well as the lack of projects in them and the fact that they are serviced by transportation are all advantages that lead to high square meter prices.
But for the investor who wants to acquire more than one property worth $ 250.000, he will find in the Kagithane area really attractive specifications, as the prices per square meter for projects under construction start from $ 1100 to $ 1300 and in ready projects, the price per square meter ranges between $ 1700 to $ 1900. Here we are talking about almost half of the real estate prices in Maslak, which is only separated from Kagithane by this bridge.
3- Urban development in the area
In the picture below, the Kagithane area, where the small random buildings, and then the high-rise area on the right, is the Sisli area, followed by the Levent area, and thus the Kagithane area is surrounded by luxury projects that share the same central location.
But the question is what prevents the existence of luxury projects in Kagithane?
To answer this question, we attach the following image:
We notice from this picture that new projects have already started in the Kagithane area and the civilization development continues to expand and continue, and this gives this area as a whole an important investment advantage, which is the presence of new projects within a perimeter full of old buildings and the Sisli Bomonti area, the best evidence of the impact of the entry of new towers in the past eight years, this led to the rise in the price of the meter to the double.
4- The investment alternative in the area
With the rise in prices per square meter in the Sisli Towers overlooking the Bosphorus and with the completion and sale of Maslak projects almost completely, the market has become hungry for the presence of investment properties close to the center of Istanbul, but at reasonable prices, Kagithane was the best investment alternative to the center's projects for those with a medium budget or wanting to acquire real estate worth less than $ 140.000.
5- Expected growth in the future
Kagithane may be considered a distinct investment area during the next five years as a result of the great cultural transformation that the area is witnessing. In addition to that, it includes a metro station that connects between the famous Taksim Metro (haci osman) and on the other hand to the new Istanbul airport directly, and this means that access to the new airport from the Kagithane area, it will take less than half an hour. It is also an active environment and needs more infrastructure. Certainly, upon completion of these structures, the investment value of the area will rise completely.
6- Planning future modern methods
We cannot deny that the center of Istanbul is crowded with severe congestion at peak hours of the day, just like any large city center in the world, and since Kagithane is an area that is being planned again, it is characterized by a lower congestion rate than Sisli, Beyoglu, and Besiktas, and this gives it a residential advantage as well as an investment as we talked earlier.
7- Facilities and services
What is unique about the Kagithane area is that it is a renewable area within the old city that already exists and thus it surpasses entirely new areas far from the city center, such as Basin Express Street, which constitutes a completely new environment, and the investor who wants to invest in it bears the risk of his investment success or not, while in Kagithane it is an existing area in itself and it is fully serviced, as there are four universities and more than 24 schools for various levels, private and public hospitals in addition to state departments and everything that a resident in this area may need.
These are the main points that make the Kagithane area an alternative investment destination and we can say that investing in it has started now and will continue to reap its fruits. Investing in Kagithane is of the medium type as it is preferable to keep the purchased real estate there for a period of 4 to 7 years to obtain the largest possible amount. From the high prices upon sale and to be informed of all the details, contact us so that our consulting team will provide the appropriate offers for your request.
Some of the projects under construction in Kagithane:
Some ready projects in Kagithane: