Kadikoy, historically the meeting point for debate and judgement, is a desirable hotspot for Turks. Home to the elite, the wealthy, and the famous, foreigners lacking the knowledge tend not to buy here. Yet the uber rich of Istanbul all have a yacht in the Fenerbahce Marina. Caddebostan is famous for its cafes, restaurants, and private clubs along the coast, and Bagdat Avenue is Turkey’s most famous avenue – but only amongst the Turks! Bagdat Avenue regularly plays host to the famous TV stars of Turkey, with its high class brands and gourmet eateries.
Kadikoy is now undergoing huge regeneration, but unlike other regions of Istanbul, the uber wealthy are doing it themselves. Existing stock from the 70s – properly built buildings – are now being replaced like for like by their wealthy owners, with the highest quality of finishes and usually fantastic Prince’s island sea views. Hence at first glance, what likes a construction boom, is in fact, like for like replacement of existing stock by existing wealthy owners.
Hence, finding anything in these areas, is near on impossible. Where apartments are available, owners are turning down offers, preferring to ride out the current wave of construction, with anticipation of excellent returns in 2018.
Kadikoy infrastructure investment
- M4 Kadikoy Pendik metro line – built at a cost of 400 million dollars, opened in 2011;
- Marmaray linking Kadikoy to Sultanahmet under the Bosphorus with a ride time of 10 mins – opened in 2018 at a cost of 1 billion dollars;
- Eurasia Tunnel – opened in 2016 at a cost of 1.2 billion dollars, linking Kadikoy to Sultanahmet within 10 minutes
- Metrobus line – linking the region to the business district in under 15 minutes
Kadikoy famous institutions
- Marmaray university – Haydarpasa photo – one of the oldest universities in the world;
- Fenerbahce Football Club – Turkey’s biggest football club
- Akasya Mall and residence – Istanbul’s second largest mall, with 5 star residential apartments
- Fenerbahce Marina – home to the uber wealthy yachts and famous for its Marina front restaurants and parks
- Moda – a sumptuous peaceful and eternally clean part of Kadikoy
- Religious institutions – of all faiths, dating back centuries, in the main shopping district of Kadikoy, just by Bahariye Avenue
- Kadikoy investment performance in the last five years has exceeded 100%! This is true of only three regions of Istanbul.
Regeneration – in 2013, the government stepped in and demolished the poorest part of Kadikoy – Fikirtepe. This was the last remaining part of Kadikoy that required modernising. Like for like replacements were denied, and a huge 7 sq km of land was demolished in one fell swoop. Today, Fikirtepe regeneration continues, with the first batch of luxury complexes handing over to buyers. Completed options are well in excess of $3000 per sqm, with sea view apartments reaching the $4000 per sqm mark. Off plan options continue to attract investors at the $2000-2500 per sqm mark, with completed pricing so high. On full completion of the region, the only oasis of luxury complexes in the Kadikoy region will have formed.
