Foreigners Keep Housing Projects Alive

In Akzirve Gayrimenkul's Strada project rising in Bahçeşehir, half of the more than a thousand houses sold so far have been bought by foreigners. After the currency attack in August last year, foreigners show more interest in branded projects than domestic buyers.

One of Turkey's leading real estate companies, Akzirve Gayrimenkul continues its projects. Akzirve Gayrimenkul, which started the Strada project in Bahçeşehir at the end of 2016 after the 'Kartal Pega' project in Istanbul, completed the sales of the first phase of the project at a rate of 95 percent. In this context, Akzirve Gayrimenkul, which started the delivery of 747 residences, plans to complete the second phase of the project, Strada Plus, in 2020.

Akzirve Gayrimenkul Board Member Abdullah Müftüoğlu pointed out that Bahçeşehir, which has a more aesthetic and more planned settlement plan, continues to grow, although it is in the development stage. Noting that the Bahçeşehir region, especially white-collar and city professionals who want to escape from the city, showed great interest, Abdullah Müftüoğlu said, "Besides, Bahçeşehir has become a preferred region with its shopping, sightseeing, natural areas and parks."

Project with 2,300 residences

Stating that they will offer a new way of life to Bahçeşehir, one of the most valuable regions of Istanbul, with the Strada Project, Abdullah Müftüoğlu said, “Our Strada project, which means avenue in Italian, consists of 3 stages.

We have completed the sale of 747 residences at a rate of 95 percent in Strada, our first stage, and started deliveries. In the Strada Project, where we will reach 2300 residences when all stages are completed, life will begin as of July in the first stage.” Müftüoğlu stated that 90 percent of those who bought housing from the project bought houses for residence purposes, “Construction costs have increased considerably compared to 2016. Due to market conditions, we do not reflect the costs directly to the residences. Half of those who buy housing from the project are foreigners," he said. It was stated that most of those who bought housing from the project after the exchange rate attack in August last year were foreigners, and local buyers showed great interest in the project recently. The average square meter prices in the project are 7 thousand TL.