Last Updated on 06/10/2022
Istanbul rea estate investment opportunities: Kagithane district
In this article we would like to present Kağithane neighborhood, situated on the European side of Istanbul. We will point out the benefits of investing in this area. In fact, Kağıthane stands as a perfect destination for investors who target Istanbul rea estate investment opportunities at competitive prices. Moreover, it constitutes at the same time a promising investment area in the future.
Kagithane: an advantageous alternative in Istanbul real estate investment
Location of kagithane
Kağıthane is a neighborhood located on the European side of Istanbul, Turkey, at the far northern end of the Golden Horn. It spans along the Kağıthane and Alibeyköy river shorelines, which empty into the Golden Horn. The district used to be formerly a working-class neighborhood. Yet, nowadays it has become a significant spot for Istanbul real estate investment.
History of kagithane
Kâgithane, originally Sadabad, was a heavily forested region frequented by the Ottoman court for hunting, riding, and other equestrian activities during the reign of Suleiman the Magnificent. The region gained popularity in the 17th and 18th centuries, particularly under Sultan Ahmed III’s Tulip Age rule when numerous aristocrats had houses and palaces constructed there.
Some of the mansions and palaces were renovated after Sultan Selim III’s resignation, and they were reconstructed once more in the middle of the 19th century.
A paper factory and printing house were constructed at Sadabad in 1727, but after the religious authorities forbade the printing of Korans, both structures collapsed. Kağıthane is a modern name that honors such progression.
The northern end of the Golden Horn was converted into an industrial area when the Turkish Republic was established in 1923. The city of Sadabad started to host many factories. Therefore, millions of migrants arrived to work in the factories, construction sites, or services sector in the 1950s. The area was first settled by illegal slums ( “gecekondus” in Turkish). Then structures with residential zones replaced them.
Due to its strategic location and connections to the new intra-city transportation networks, Kağıthane underwent a rapid transformation in the early 21st century as a result of urban regeneration projects which gave the district a remarkable potential for Istanbul rea estate investment.
A successful model of Urban regeneration in Istanbul
Beginning in 2007, Kağıithane’s urbanization accelerated during the ensuing years. The beginning of the metro line project, the reclamation of the valley in addition to the area near the central roads, and the opening of the well-known Bila Pasha tunnel attracted the attention of both local and international to Kağithane, which in turn stimulated the development of projects and the expansion of real estate investment in the region.
What facts give kagithane an attractive potential in Istanbul real estate investment
Promising location
As we mentioned above, Kağithane has very advantageous geographic characteristics because it stands in a central location and it straddles two major roads. Moreover, it is close to the greatest investment districts in Istanbul such as Şişli, Maslak and Levent. Yet, kağıthane includes many property opportunities with more affordable prices compared to its neighboring areas. This factor makes kağıthane a preferred destination for middle-class people who need to reach their offices in the nearby business districts. Thus, the housing demand in the area increased dramatically. Consequently, kağıthane started to grab the attention of investors as one of the most appealing Istanbul real estate investment hubs in terms of ROI.
Competitive prices in the market
As we already mentioned, the importance of Kağıthane always stands from its comparison to the adjacent areas that constitute Istanbul’s main business centers. However, the lack of new developments in these areas and their developed infrastructure increases the property’s price. We can say that the meter square price in Maslak area is almost 4 times the price in the adjacent Kağıthane. This makes it adequate for middle-class people. Meanwhile, if we would like to think about Real estate investment in Istanbul, kağıthane is still an attractive alternative. For example, Foreign nationals who would benefit from the Turkish Citizenship investment program can afford more than one property for the required investment value especially if they consider second-hand opportunities.
Continuous growth potential in Istanbul Real estate investment
Bomonti area is the best example of the impact of new towers’ entry in the past eight years, which led to the rise in the price of the meter to double. Likewise, new projects have already started in the Kağithane area, and civilization development is continuing to expand and continue giving the district as a whole an important advantage for Istanbul real estate investment.
Strong infrastructure
Due to the significant urban change that the area is undergoing, Kağithane might be regarded as an attractive investment area and the unique destination with extensive property opportunities in the surroundings. In fact, it connects directly to Taksim. On the other side, Kağıthane includes the only direct metro line to Istanbul airport that will start operation soon. As a result, reaching the airport from Kağithane district will take less than 30 minutes. Additionally, upon completion of the urban regeneration projects, the area’s real estate investment value will unquestionably increase substantially.
Keep a watch on our blog area if you’re thinking about investing in Istanbul real estate, especially in the resale market. You will have access to a more in-depth series of articles written by the professionals at MEO Consultants that explain and evaluate the top areas in Istanbul for real estate resale potential.
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