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İstanbul Airport Excitement in Turkish Real Estate Sector

İstanbul Airport Excitement in Turkish Real-Estate Sector

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

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

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

Not Just an Airport! Istanbul Could Be Aerotropolis!

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

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

Property Sales to Foreigners will Accelerate with İstanbul Airport

İstanbul 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 the first two months of 2019, sales increased by 87% compared to the same period of the previous year. This year, sales will accelerate even more with İstanbul Airport. İstanbul is a top destination for foreigners to buy Property in Turkey. Last year, 14.270 properties were sold to foreigners in İstanbul. 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 İstanbul, Antalya and Trabzon."

Tekce expressed İstanbul 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 the importance of economic growth. PwC’s study alone reveals the importance of İstanbul Airport."

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