How Cultural Projects are Boosting Istanbul Local Businesses
How Cultural Projects are Boosting Istanbul Local Businesses
Since the start of the cultural transformation projects by the Turkish government, years prior, to take out slums and broken-down houses and make areas that are more current, modern and resistant to the natural disasters for example as earthquakes, these project continue playing a noteworthy part in the redesign and modernization of a large part of Istanbul, also the production of the creation of new real estate investment openings in the region.
We will mention the areas most profited by the cultural transformation projects:
Bakirkoy : Which is considered as a standout amongst the most prestigious districts in Istanbul, as it is situated outside the walls of the old city. The cultural transformation processes have started in the area since the start of 1999, and these activities add to raise the rental and real estate prices drastically in the region. The transformation processes continue going quick, and the region today is considered as as standout amongst the most costly districts of the city of Istanbul regarding the real estate prices, as they have ascended by 12%.
Bagcilar : One of the biggest and most crowded regions in Istanbul, where there is more than 200 thousand housing units. The area has been seeing the cultural transformation projects for quite a while, where the municipality looks to ensure the security of the residents by establishing firm properties, and decorationg the area as Bagcilar is viewed as one of the imperative focal areas, that is the reason this region is seeing today the cultural transformation projects broadly, and that is pondered on the rental and real estate prices in the area, which is in a ceaseless expanding. Throughout the most recent year, the region recorded an ascent in real estate prices by 21%.
Bayrampasa : After moving Bayrampasa jail to Silivri, numerous empty lands showed up inside the district, which made the path open for the cultural transformation projects fundamentally. The municipality planed to build up various projects such as hospitals, substantial yards for parking, metro stations, and new real estate projects in these empty lands, the thing that added to bring the property prices up in the area amid the most recent year by 23%.
Esenler: One of the areas encountering the cultural transformation forms widely which added to raise the estimation of the real estate in the region during the most recent year by 10%.
Sariyer : The cultural transformation processes has started in the region since 2009, and positioned it among the most areas profited by the cultural transformation projects inside the city of Istanbul, the thing that prompted an ascent in the real estate prices by more than 18%.
