Istanbul’s new airport and its impact on Turkish real estate

Istanbul new airport

Everyone is excited to see Istanbul’s new airport (the third), which will be the largest airport in the year when it enters the service on October 29 this year, In line with the 95th anniversary of the founding of the Republic of Turkey. Are you one of them?

First visitors to Istanbul’s new airport:

In a remarkable gesture, the Turkish Minister of Transport and Communications, Ahmed Raslan, invited 70 children from 7 provinces to be the first visitors to the airport, which was built 35 km from the center of Istanbul.

Children visited the control tower, as well as the airstrip, which will be one of Istanbul’s landmark landmarks.

Minister Ahmad Raslan pointed out that the airport will consist of 3500 square kilometers of interior space, which in turn consists of 120 units and a total area of 7300 km², accommodating 114 aircraft at the same time.

Istanbul airport will also serve as a hub for more than 130 destinations in 120 countries and more than 60 cities with an annual capacity of 200 million passengers.

Interesting Reads: Megaprojects will make Istanbul the capital of the world.

Istanbul’s new airport will change the world map

Erdogan’s government sees Istanbul’s third airport will be adding 4.9% to GDP by 2025, as well as to put the Turkish economy in the top 10 globally.

The new Istanbul airport will control the Air traffic for three continents: Asia-Africa-Europe, with its strategic location linking the east, west, north, and south of the world.

The airline’s operational plans also indicated that it will capture traffic and passengers at regional and international airports such as Dubai, Frankfurt, and Heathrow.

Istanbul’s new airport attracts investors

Many media channels like the Turkish newspaper Zaman reported that there is a notable increase in interest from investors, who want to buy lands and properties around the area of the airport, which leads to an increase allow in the prices of these areas.

In the previous report, Emre Erol – Keller Williams Turkey President” stated that before talking about the third airport project in Istanbul the square meters in the areas close to it worth 80 Turkish lira, and in 2016 the price reached 250-300 Turkish lira, and it is still rising since as the opening of the airport coming closer to the end of This year.

The investment will not be limited to residential units, but there will be shopping centers, offices, hotels and industrial investments, and the most prominent investors are those coming from the Arab countries such as Saudi Arabia, Lebanon, Qatar and Kuwait.

 

How will Istanbul’s new airport affect transportation?

The airport will be connected to the third Istanbul Bridge, the Istanbul Canal and the northern Marmara Highway, which will help to solve the problem of traffic and congestion in the city.

It is noted that the areas around which connecting to the Istanbul’s new airport have already begun to grow, as the property prices from land and housing units are gradually rising, areas include:

  • Bahcekent
  • BasinExpress
  • Arnavtkoy
  • Catalca
  • Yenikoy
  • Silivri
  • Basksehir
  • Bahcesehir

these areas have become an important center for attracting large and small investors, companies and institutions.

Another factor that will contribute to reducing the traffic congestion is the construction of the metro lines, which will contribute significantly to increasing the value of property prices in the region.

If you are thinking to invest in areas around this mega-airport, then you might ask yourself few questions:

What are the pros and cons of real estate investment near Istanbul’s new airport?

To make sure you make the right decision, we will review the disadvantages and benefits of living near the airport. Let’s begin with what people usually warn you when you tell them that you want to live near the airport.

  • Noise Pollution:
    There is no doubt that noise tops the list of concerns of many people when buying a property near an airport, but in fact, there is no longer the real problem in our time.
    For example, American Airlines is phasing out the noisy MD80 and replacing it with Boeing 737s.
    The DFW website also points to significant strides in aircraft noise reduction technology over the past three decades, Thanks to the efforts of NASA and the Federal Aviation Administration (FAA) as well as aircraft and engine manufacturers.
    With this technological advance, the problem of noise pollution can disappear forever.
  • Health Risks: Research has indicated that air traffic can pollute the air for up to 16 kilometers, a larger area than previously thought.
    This is a problem exists only in small airports and not in an airport that covers an area of 7300 km²! Such as Istanbul’s new airport, which is indeed reassuring.
    For further security, the zone identification systems allocate areas close to the airport for commercial and industrial activities. To keep residential buildings, schools and childcare centers in the second district.

On the other side, we can see the advantages as follow:

  • Near the airport: The biggest advantage of all is that you will be close to the airport, which means that your travel time for any local or international destination will be reduced, which is great if you are traveling a lot.
  • Transportation: Even on the internal level, the neighborhoods near the airport are also suitable for public transport lines, making your trip easier because you will not have to deal with traffic congestion, parking, and other mobility problems.

 

Conclusion:

Living near the airport has its advantages and disadvantages. On the positive side, air travel will be very comfortable, and you will be able to provide a long time, on the downside the noise and health risks may be real concerns, all depending on the proximity of the airport and flight routes and even the type of aircraft used.

If you are planning to take advantage of the opportunity to invest near the airport such as buying a property or a house near Istanbul’s new airport or you are looking for land for sale in Istanbul, then we are in Extra Property we are ready to help you provide all the information you need about the investment opportunities available in Istanbul and also assist you with any legal procedures you might need.
Let us help you now!

Sources:
iGA , investopedia , alkhaleejonline , haberturk , turkpress , thelenspost

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