This canal extends from the south of Istanbul to its north, i.e. to the borders of the Black Sea, and its length is

The impact of the new Istanbul Canal on the real estate market

Date:

Thursday, January 12, 2023

This canal extends from the south of Istanbul to its north, i.e. to the borders of the Black Sea, and its length is

The new Istanbul Canal is a modernist emergency that took place on the Turkish territory, and the negotiations regarding it and the research that was conducted around it abounded and many political disputes took place around it. This canal extends from the south of Istanbul to its north, i.e. to the borders of the Black Sea, and its length is forty-five kilometers, and it was named after this. In relation to the city located within it, real estate prices in this region are expected to rise a lot by nearly fifty percent, so investors who wish to own real estate in Turkey are advised to search for properties offered for sale in this particular area that extends from the Sea of Marmara to the Black Sea.

Features of the new Istanbul Canal granted to the Turkish state:

In the beginning, the new Istanbul Canal works to protect the Bosphorus Strait from the dangers and factors to which it is exposed, such as pollutants that fall into its waters when oil is transported by ships that run over its surface, and this disastrous matter threatens the Strait with everything in it, in addition to the environment that surrounds it as well. Also, that canal has an additional advantage, which is that it eased the burden of ship traffic on the strait, and those ships turned to transit on the new Istanbul Canal, and this canal will also be of great benefit to the Turkish government because it will authorize it to collect taxes from the ships that pass through it, and this matter is similar to the Bosphorus Strait, which You cannot impose a tax when the ship passes through it, due to the text of an old treaty that took place in the past. Finally, it increases the security of the straits in Turkey because it shares equal tonnage between them.

What is the importance of investing near the new Istanbul Canal?

The new Istanbul Canal project must have had a clear impact on increasing the investment movement in Istanbul in general and around the canal area in particular, and the European section of Istanbul has registered search requests for real estate in it, and these requests were not issued by the desire of non-Turkish investors only, but by Turkish citizens are likewise, and the value of agricultural land and real estate around the canal will witness a clear rise that increases the profits of projects, and it is likely that the economy in that spot will record a high jump that has recently started clearly.

- What are the returns that will accrue to foreign investors thanks to the new Istanbul Canal ?

Of course, it is certain that the benefits of this canal will include all the world’s population, but these benefits will differ according to each category of people. For example, Arab investors in Turkey began their intensive directions to the area surrounding the canal project in particular, and they showed increased interest in its direction because it would bring them financial income that is almost double. As for the Korean investors exclusively branching from South Korea, they had a good share of the benefits that emerged from the channel, especially since they had previous fingerprints distributed on the projects that were established in Turkey, and the Chinese investors had a good share of the channel, so they showed their excessive interest in it and the steps The rushers heading to it in order to explore the area surrounding the canal and the investment secrets it hides in it, and this interest will appear when their project revolving around securing services for ships passing through that canal is implemented, and the movements towards this canal are not limited to the countries that have been mentioned only, but rather they were from different countries Around the world everyoneHe is in a fieldInvestment put the area around the canal in mind.

The impact of the new Istanbul Canal on real estate prices in that city in which it is located:

A successful project like this has gained a strong reputation, in addition to the high demand for it. It will certainly change real estate prices in Istanbul in general and the surrounding area in particular, but this increase that came to the regions of Istanbul did not come with a single value, but rather there was a variation from one region to another. Among these areas are Kucukcekmece, Basin Express and many others, where the price of a square meter in that area has reached about two thousand and nine hundred thousand Turkish liras, while the price of a rented square meter has reached one thousand and four hundred Turkish liras, and these prices are considered high if we compare them to other cities and regions.

What was the reliance on in establishing the new canal project in Istanbul ?

In the beginning, the area was well studied, and since the canal extends from the Sea of Marmara to the Black Sea, the water situation in the Black Sea and the Sea of Marmara was studied, and it was found that storms and sea waves that could occur or tsunamis might occur, all matters related to nature factors and topography, even winds and their gusts A long-term feasibility has been established for it as well, as the negative effects that will result from this project are very few or non-existent.

In that quick tour of the Turkish city of Istanbul, the new Istanbul Canal project stands out, which is expected to be a successful project par excellence and reap ripe fruits in that green land. It exceeds imagination on the city in which it is located and on the region in which the canal is located, i.e. the European part of it.

Related Blogs:
Istanbul Apartment Prices Guide

How to buy an apartment in Turkey

Residence in Turkey by buying a property

The cheapest apartments for sale in Turkey 2020

Buying apartments for sale in Istanbul in installments

Ways to obtain Turkish citizenship

Real estate investment in Turkey

Tips for buying a property in Turkey

Obtaining a Turkish passport

Istanbul real estate 2020 _ 2021