Istanbul Real Estate Market Is Closely Following the Kanal Istanbul ProjectWed, Nov 2, 2022 12:00 AM
Thanks to the Kanal Istanbul Project, real estate prices are increasing at a great pace even in regions that did not attract a lot of attention in the past.
As a result, Istanbul Real Estate Market is closely following the developments in Kanal Istanbul Project. It is projected that the prices in Istanbul real estate market will be boosted with the completion of the project.
President Erdogan made important statements regarding Kanal Istanbul while he was returning from the 6th Summit of the Conference on Cooperation and Confidence Building Measures in Asia (CICA) held in Astana, the capital of Kazakhstan. Once again, he emphasized the importance and greatness of the project.
Kanal Istanbul is the Solution to Future Trade Problems
President Erdogan stated that the trade volume in the world is currently 12 billion tons, and this volume will increase to 25 billion tons by 2030. In addition to this, nearly 90 percent of the mobility of the trade volume is provided by the sea, and the problems in the Bosphorus are evident today, and this will increase much more in the coming years.
One of our goals is to create a corridor between East and West. Considering these, Kanal Istanbul is a must, especially in the north-south trade directions. This amazing project can provide a definite solution to increasing trade volume in the world.
The Project Also Increases Real Estate Prices in Neighboring Districts
Kanal Istanbul project is also known as the Crazy Project to the public and after its route is officially announced, it significantly boosted real estate prices. Real estate prices in the regions where Kanal Istanbul passes are increasing every passing day.
Moreover, ads such as house with the Kanal Istanbul view or a plot with the Kanal Istanbul view are increasing every passing day. Experts believe that there may be an increase of around 30 percent in land prices in the districts on the route within a year.
Some of the prominent districts, which will be affected by these increases are Küçükçekmece, Başakşehir, Esenyurt, Avcılar, and Arnavutköy. If you are planning to make an investment in real estate in Turkey, these years are the most profitable years to realize your investments.