Istanbul Finance Center Project and Its Effect on Regional Real Estate Prices

Abstract

The region called Istanbul West Atasehir neighbourhood is planned to be the area where Istanbul Finance Center Project is settled. It is expected that the underlying project will strongly affect the real estate prices in the neigbouring areas. Therefore, it would be a valuable information for investors who are planning to invest in real estates relating to the Istanbul Finance Center Project. By the theory of Huff’s the attractiveness of a location is strongly related to the distance. In order to determine the expected future increases in real estate prices for the neighbouring locations, a number of regional experienced real estate agents was inteviewed. Moreover, the factors that are expected to influence the real estate prices are identified and ranked by their significancy levels.