"Istanbul" channel provoked a rise in property prices

Kanal Istanbul, which will connect the Marble and Black sea – is not just one of the most grandiose projects of Turkey, it's also a great project of the world.

The channel is 45 km long and has a width of 400 meters, the construction began last year and since then, prices for real estate along the channel are constantly growing.

On average, for the last 8 years in the northern part of Istanbul, the prices have grown by 60% caused by the brand new third airport of Istanbul which is still under construction.

At the same time, the prices for housing located along the canal has risen by 40%. Real estate in this part of Istanbul is very actively invested by foreign investors. And the government expects that while the channel is being built, the house prices and the number of purchases of real estate in this area will actively grow.

The completion of this project is scheduled for 2023.

18.07.2018

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