Road to success: Istanbul's Media Highway developments set to soar
Located in a pivotal central location of the city, investor eyes are turning towards Media Highway. With huge government investment, the fast-developing area is one of the city’s most promising prospects for significant - and rapid - capital gains.
Thanks to a staggering investment approaching almost $1 billion into the area in the last three years, Media Highway has become one of the fastest developing parts of the city. A number of projects are being developed in the area, with housing being built for city commuters as well as high-level investors seeking luxury apartments in close proximity to Ataturk Airport and the city centre.
High capital gain, high rental return
Thanks to increased investment - and investor interest - financial green shoots are already appearing in Media Highway, which is also known locally as Basin Ekspress. Property prices are approaching US$3000 per square metre, and are expected to reach $4000m2 within two and a half years time, attracting investors seeking a short to medium-term investment.
The knock-on effect of rising property values means rental returns will be extremely favourable in the Media Highway area. In fact, they’re already head and shoulders over the Istanbul average: last year, while rental returns for Istanbul were 5.1%, in the Media Highway area they reached 6.7%. With inflation standing at around 5% in the city, investors can expect 8% returns before 2020. With these figures it’s little wonder there is such a buzz surrounding the developments here.
Our map above outlines the government investment in Media Highway.
- This is the lake where the Kanal Istanbul project will be constructed. Construction is set to begin in December, taking around seven years.
- Along the lake, you can see the Marmaray extension metro line, which goes to Sultanahmet, under the Bosphorus, and continues to Ankara as a high speed train. This is set for completion in 2018
- This south to north metro line runs from Atakoy to Mahmutbey. Construction began this year.
- The existing Ataturk airport metro line.
- The light green lines indicate proposed metro lines. Construction of these is expected to begin in 2017.
- Ataturk Airport
- The Mahmutbuy Highway will take Media Highway residents to Istanbul New Airport in under an hour. The first phase of the airport’s construction is expected to be completed later this year.
The new developments, unique in this part of Istanbul, are attracting Turks living in neighbouring districts such as Bagcilar, Bahcelievler and Avcilar - suburbs where residential stock is old and doesn’t comply to earthquake regulations.
Buyers are also attracted by the hotel-style complexes in the area, which mean residents enjoy fully managed apartments, and buy-to-let investors have competent management schemes already in place.
A stone’s throw to the city and beyond
Money has also been plowed into infrastructure in the area, ensuring city-wide connections for Media Highway residents and workers. But it’s not just links to their offices drawing the city’s middle class to the area: Media Highway’s residents are attracted by the proximity to Ataturk Airport, which connects travellers to cities all over the world. Locally, residents can explore the coastal areas near Media Highway, specifically Bakirkoy, a large commercial seaside district packed full of shops and leisure facilities, and Atakoy, an elite residential area with five-star hotels - and the site of the Sea Pearl, Istanbul’s first seven-star hotel, tipped to open next year. Atakoy’s marina is the region’s hotspot, full of private mega yachts and upmarket facilities that attract the young, the beautiful, the wealthy and the famous of Istanbul.
If you’re looking to invest in this fast-rising part of the city, here are a few projects we recommend to get you started:
This complex is two years old, and the indicated prices are out of date. Currently, two-bed units here are selling for closer to $360,000. Looking at this project gives you some indication of how prices will move in this part of the city. The build quality on this project was high, making it a flagship development in the area.
This complex is half completed, and two-bed apartments are selling for around $330,000 - although list prices are always open to negotiation. This is an excellent starting point for anyone wishing to invest in Media City.
This off-plan complex is at the beginning stage of construction, which means prices are very low: 2 beds start at $235.000$ list price.
Contact us if you have any questions about Media Highway.