The new Istanbul Water Canal and its impact on the real estate sector
Turkey will not hesitate to present important projects that have a reflection on the various areas of life in the country. Among the most prominent of what was presented is the new Istanbul Water Canal, which will have a significant impact on the real estate field in particular.
Certainly, you need to get accurate information about this Canal, and this is what we will present in this article, and we will also indicate its importance and you will know to what extent real estate will be affected by it.
We wish you a useful reading.
Important information about the new Istanbul Water Canal:
– It is a very important project and it will be an alternative to the Bosphorus (it will help relieve pressure on it).
– It is only one of the achievements that will fulfill Turkey’s vision of development and modernity.
– You should know that its impact is never only on Turkey, but on various countries of the world.
– It will raise Turkey’s national income, as its profits are expected to reach eight billion US dollars.
– On its outskirts, you will find two developed real estate cities with a capacity to accommodate more than five hundred thousand people.
– It is worth noting that, thanks to this Canal, many foreigners and investors chose to go to Istanbul for investment, and the areas close to it are considered.
– It is 45 kilometers long and 25 meters deep.
Where is the importance of the new Istanbul Water Canal?
– We have already mentioned that this Canal is one of the most important projects in the world.
– It is located on the European side of the city.
– It linked the Black Sea in the north with the Marmara Sea in the south.
– On top of it 8 bridges will be built.
– It provided a lot of job opportunities and had a great impact on the Turkish economy.
When will the construction of the canal be completed?
Work on the completion of this project started only from a short period of time, which did not reach the year, and it is expected that it will take 6 years, i.e. to the year 2027 AD.
In this regard, we must mention that the construction costs of this project will reach 25 billion US dollars, distributed between the costs of building the waterway and building real estate projects close to it.
What is the relationship of this Canal with the Turkish economy?
The most affected aspect of this Canal is the Turkish economy, and these are the most prominent results that Turkey will obtain thanks to its presence:
– Turkey will compensate for all the losses it has incurred thanks to the Montreux Convention.
– It will contribute to making Turkey among the top ten countries in the world in terms of economic power.
– Annually the financial profits it will provide will exceed ten billion US dollars.
– More than one hundred and sixty ships will pass through it daily.
You may be wondering if this Canal has negative effects? This project has been studied well and in depth. The information that you do not realize about this matter is that it is one of the very old schemes, but fate decided that it should see the light at this time and therefore it was concluded that it is environmentally friendly as it helps reduce pollution and will not have any damage.
The impact of the new Istanbul Canal on real estate:
It is natural for a huge project like this to have an impact on the real estate in Turkey field, especially those close to it, and the most important of those areas are (Basaksehir – Avcilar – Kucukcekmece – Arnavutkoy).
Since the announcement of this canal, construction companies to the adjacent areas have been racing with each other to present high-end and modern projects that are commensurate with international quality standards that are compatible with all tastes. In addition, the influx of foreign investors has increased in their desire to reserve their place in it.
Real estate prices in those areas have registered a clear increase and are expected to rise further when the construction works are completed. For example, real estate prices in Basaksehir have risen over the past three years by as much as fifty percent.
It should be noted here that many international companies have chosen to have their corporate headquarters near them.
If you are interested in real estate in Turkey or in Istanbul, you should know that near that canal you will find the most important and luxurious high-end residential complexes and distinctive villas.
Turkey is constantly working to strengthen and develop the infrastructure, and the canal project is one of the most important of these projects. Thanks to it, it has become one of the strongest competitors to European countries. Also, these projects were a strong attraction for investors. If you look closely, you will find that the real estate scene in Turkey is crowded with investors, traders and capital owners.
The development of the infrastructure combined with the many laws and facilities that were provided to investors, such as the law of obtaining Turkish citizenship in return for buying a property worth two hundred and fifty thousand US dollars, obtaining real estate residence, ease of ownership procedures and other motives.
If you intend to own real estate in Istanbul for real estate investment, you have made a very right decision, especially with expectations that prices will rise, it is likely that the rise will be one hundred percent.
One of the questions in this regard is whether real estate prices have risen at the present time near the new canal or not? You may be looking for an answer to this question if you are thinking of owning real estate in the nearby areas.
If it has risen, it will rise more during the coming period, so the opportunity still exists to seize the opportunity and reserve a place for you among the major real estate investors in the world to obtain abundant profits, whether you want to sell the property again or rent it.
You can contact us to present you with the most important investment opportunities that guarantee you obtaining distinctive profits, and do not forget to visit our website to see all that is new in the real estate market in Turkey.
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