What is the effect of Istanbul Canal on real estate investment?
The Istanbul Canal is considered the largest waterway of the Turkish Republic in this century.
The Canal is expected to generate strong Istanbul investment opportunities in the region from which it will pass, as well as the construction of many of the infrastructure facilities associated with the canal such as bridges, roads, islands and many other facilities.
The Canal has now significantly affected the areas to be overlooked and the adjacent in terms of the demand of investors, where the surrounding areas witnessed a significant increase in Istanbul real estate Prices and the prices of lands.
Studies indicate that the name of the Canal was sufficient to increase the prices of real estate in these areas, where the price per square meter in apartments on average during the month of May reached 3 thousand and 458 TL, this figure is the highest taking into account the rates of the last three years, In some areas, the ratio reached 51.52 percent and in other regions 56.41 percent.
The project is called the dream of the century because of its magnitude, as Turkey progresses confidently on its way to become the center of the world with the Bosphorus Strait, which is similar to it, and Istanbul will be the most beautiful waterway as it follows the project of the century.
A new waterfront city in Istanbul will be built on the banks of this huge canal when the project is completed.