Monday, May 12, 2008

Construction Site

I took this picture this morning while going back home. This is down our street looking toward Mecidiyeköy. If you don't know the area, you have to know that the towers on the right (white : 41° 3'16.40"N - 29° 0'0.90"E) weren't there last year, as well as all the little buildings (brown ones : 41° 3'16.03"N - 28°59'55.31"E) on the left. Those places used to be public parks with trees and stuff. If you look on Google Earth you will see how it used to be. The constant growing of Istanbul population + the ever growing greediness of entrepreneurs scar the face of Istanbul. Those buildings will become luxurious condos and residences which will help increase the already increasing rent and sale prices.
250.000 people are settling every year in Istanbul. The non official population of Istanbul is near 17 millions. The total population (official) of Turkey is 72 million. The average debt rate of each 'Istanbuler' is 25.000 YTL ($ 20.000).

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