Roughly 2.5 million m² of military land in Küçükçekmece Halkalı has been opened to residential and commercial use by a zoning amendment. Everyone who owns property in the area, or is thinking of buying there, asks the same thing: what happens to prices?
The answer is messier than most people expect. Start with the numbers.
What the plan provides for
According to the reported planning:
- Total area: approximately 2.5 million m²
- Housing and business space: 891,000 m²
- Total construction area: above 1.39 million m²
- Projected new population: around 28,736 people
For scale: 28,736 people is comparable to the combined population of several of Küçükçekmece's smaller neighbourhoods. This is not an addition to an existing fabric so much as a satellite town.
Why the price effect is not one-directional
"Land was rezoned, prices will fly" sounds reasonable and is incomplete. Development at this scale pushes on prices in two directions at once.
Upward pressure
- Infrastructure. A project this size brings roads, drainage, power and public transport with it, and surrounding neighbourhoods benefit too.
- Retail and amenities. Shopping, schools, healthcare and social facilities raise the general desirability of the area.
- Expectation. Investor interest reaches prices before construction starts.
Downward pressure
- Supply. 891,000 m² of housing space puts a substantial quantity of new homes on the market. Rising supply presses on prices, especially in the new- build segment.
- Competition. New, modern homes compete for the same buyers as the older stock nearby, which can leave that older stock relatively devalued.
So: buy new and you face the supply pressure; buy old and you face the competition. Both are real.
Timing: the distance between paper and concrete
A zoning decision does not mean construction starts tomorrow. Development at this scale typically proceeds in phases and the total is measured in years.
There is also a public objection in front of the process. Mukhtars across Küçükçekmece have reacted jointly to the plan, asking not for new buildings but for disaster assembly areas. Whatever the outcome of that objection, a decision made on paper is not evidence that delivery will be quick or smooth.
The practical consequence: if your horizon is three years, do not price this development in. If it is ten, price it in — but with the supply side in the calculation.
Where are prices now?
As of July 2026, apartments in Halkalı Merkez sell at roughly ₺61,900/m², up 28% over the year, against a district average of ₺59,109.
Given the transport infrastructure the neighbourhood already has, that is low — the Marmaray's terminus, the M11 airport link that opened in June 2026 and an M9 interchange all converge here. It stays low because the building stock is mixed: a 1995 block and a 2018 development can stand side by side on the same street, and a per-square-metre average hides exactly that.
If you are buying in this area
- Ask for the phasing map. How far the property sits from the development area matters far more than the fact that it is "in Halkalı".
- Look building by building. A neighbourhood average is not enough here; pull the permit year and the construction supervision record separately.
- Put the supply side in. Do not assume capital growth without knowing which segment the new supply lands in.
- Be clear about your horizon. If you are planning a short exit, this story is not for you.
We do not market a property on the line "military land has been rezoned". The decision is real; what it produces depends on phasing, timing and the supply balance — and a price set without those is a wish, not a forecast.