Istanbul Airport Excitement in Turkish Real-Estate Sector

Istanbul New Airport
All flights in Istanbul, will be transferred to Istanbul New Airport by 6th April. These news raised excitement in leading sectors of Turkish economy including aviation, tourism and real-estate.

Istanbul Airport has been officially opened on 29th October 2018 and the mobilisation of the airport will be completed in the first week of April. Istanbul Airport will be one of the strongest airports of the world with annual 200 million passenger capacity.

Istanbul has been a bridge between east and west, Europe and Asia throughout the history. With this new airport, the city is now more active in aviation sector. Bayram Tekce, Chairman of Antalya Homes Emlak Inc., the leading real estate company that operates in different regions of Turkey, defined Istanbul Airport as new driving power for Turkish economy and real-estate sector.

NOT JUST AN AIRPORT! İSTANBUL COULD BE AEROTROPOLIS!

Tekce stated that Istanbul Airport is a strategically important project for Turkey by saying that such projects will increase brand value of Istanbul for more investment and this new airport will consolidate Istanbul as “HUB” in international civil aviation:

“Projections show that Istanbul Airport will employ approximately 225.000 people in 2025 $4.2 billion household income contribution. This mega project will approximately have 4.9% share in GNP. These numbers alone can reveal how important it is for Turkey.”

PROPERTY SALES TO FOREIGNERS WILL ACCELERATE WITH ISTANBUL AIRPORT

Istanbul Airport, as one of the most important investments of Turkey, will positively contribute to real-estate and tourism sectors. Tekce explained that Turkey is top rank in property purchases by foreigners and foreigner interest will significantly increase in buying property in Turkey:

“Last year, in Turkey, 40.004 property was sold to foreigners. In first two months of 2019, sales  increased by 87% compared to the same period of previous year. This year, sales will accelerate even more with Istanbul Airport. Istanbul is top destination for foreigners to buy Property in Turkey.  Last year, 14.270 properties were sold to foreigners in Istanbul. We predict that this number will double in the next 3-years and reach 30.000 per year. We believe that we will have a success story with our offices in Istanbul, Antalya and Trabzon.“

Tekce expressed Istanbul Airport will be driving force of Turkish economy:

“According to PwC study in England, each 10% increase in country’s seat capacity in aviation has 1% contribution to short-term economic growth. Recent developments show importance of economic growth. PwC’s study alone reveals importance of Istanbul Airport”.

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