Shopping streets of Istanbul are recovering

Real Estate consultancy company Cushman and Wakefield, on the European side of Istiklal Street and Rumeli, Teşvikiye, governor’s mansion and Abdi Ipekçi, including the Nişantaşı region and the Anatolian side of Baghdad Street, Istanbul’s 3 main street viewing ” The fifth of the Istanbul shopping streets “Report has been released.

According to this, in 2017, the total of the streets was 65, and the urban renewal work decreased to 60 in 2018. 58 of the 122 stores, which were empty in 2017 in the total of the streets, were leased as of last year. 35 per cent of the rental in 2018 took place in the apparel and footwear industry.

The number of international brands operating in the 132 store in 2017 on three main streets increased by 24 percent last year to 164. The rental process, which was 109 in the 2017 in the streets in question, rose to 139 in 2018.

The number of vacant stores in Istiklal is at dip level of 4 years
Half of the 35 vacant stores in Nişantaşı region, the most important luxury retail center in Istanbul, were leased last year.

The commercial and Cultural center of Istiklal Street also gives healing signals with the re-opening of the nostalgic tram that has been taken into care and reduced security problems. In Istiklal, the most crowded street, although the number of rental transactions looks similar to the previous year, the number of empty stores has been recorded this low for the first time since 2015.

Total of 35 rentals in 2018 the number of vacant stores on the street was 18. According to the report, as of 2018, especially in the street, which increased the number of clothing and footwear stores, the food and beverage sector continued to grow.

Baghdad Street, which is the main retail center of the Anatolian side, was leased in half of the 59 stores that were vacant in the last year. 45 of the total 54 rental process was recorded as a new entry, 6 of displacement and 3 as the existing brands ‘ growth or renewal project. On the other hand, the number of international brands on Bagdat Street last year came from 45 to 60.

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