The New $50,000,000 Marina is Expected to Raise Residential Property By Two Folds
Road work and natural gas operations in Silivri, marina expectations in Gümüşyaka and a prospective connection of the district to Çorlu airport caused residential property prices to increase by 95 percent
Selma Şenol
Istanbul- Referans
The environmental regulation act expected to pass this month, has increased residential and land property owners’ expectations in Silivri.
An act passed in April anticipating logistic depots, a marina in Gümüşyaka, and an integration plan of the district to Çorlu airport.
The second act to be passed in May is a more detailed plan of the project. Real Estate owners have already increased their prices by 95 percent.
The increase of real estate value is artificial:
Cahit Yardımcı of Yosun Real Estate which operates in the region says that the increase of residential property by 29 percent in March and up to 65 percent in April is artificial and that there have not been many transactions with these prices.
According to him, sellers request prices five years into the future. �To sell a residential property for YTL200,000 in this region, commercial and industrial development is necessary; and people need to settle down,� Yardımcı said.
The real estate sector is so lively for different reasons, said Onur Sevimliay, the representative of Turyap Silivri. He believes the reasons include demand for summer homes, road work, natural gas linkage, TOKİ (House Development Administration of Turkey) and Kiptas investments in the region.
Sevimliay said 75 percent of Çatalca has been declared a water basin by İSKİ (İstanbul Municipality Waterworks) and development has decreased; therefore, investors have changed course towards Silivri.
�Manufacturers who can’t find places for $1,500 a square meter in Istanbul find places for $100 in this region,� he said. According to Turyap figures, in May 2006, the price of one square meter of property in the industrial zone was YTL 50-60, which rose now to YTL 100-120. Silivri still has seven industrial zones.
TOKİ is planning on building a mass housing project on a 150,000 square meter property, while the Metropolitan Municipality will build on a four million square meter land in Ortaköy-Silivri, Sevimliay said.
�Infrastructure works have been going on for two years and 75 percent of central Silivri receives natural gas. The only thing needed is more development.�
Read the full story: Marina in Turkey
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