The future of real estate investment in Istanbul near the new canal
The city of Istanbul in Turkey is currently witnessing a giant project that is the largest project in its history, which is the new canal project that connects the Sea of Marmara and the Black Sea, and since the announcement of this project, interest in the properties located near it has increased, and experts expected that the future of real estate investment in Istanbul will witness near the new canal great growth, so what is the future of real estate in this area? What are the real estate investment opportunities available in it? In this article, we will talk about the details of this huge project and its impact on the real estate sector in Istanbul.
Table of Contents
The route of the new canal in Istanbul
The Istanbul Canal project, which extends from the water isthmus between the Marmara Sea and Küçükçekmece Lake, has been started and the path extends from the isthmus to the basin of the Sazliposna Dam and from there to the city of Dorsunkoy and the course of the canal is followed from Dorsunkoy to Kuyu and from there to Baclalikuyu Lake until it reaches the Black Sea.
It is worth noting that part of the path extends for a distance of 7 km inside Kucukcekmece Lake and there is also a 3.1 km long section of the new track of the Istanbul Canal within the Avcilar region, and a 6.5 km long section of the track in the Basaksehir district, and the last section extends 28.6 km long within the Arnavutkoy district.
What is the future of real estate investment in Istanbul near the new canal?
- The new canal is expected to enhance the importance of Istanbul as a global trade and tourism center and this will lead to an increase in the demand for real estate in the areas adjacent to the canal, which enhances the value of real estate and provides excellent investment opportunities.
- It is expected that the value of real estate in the areas surrounding the canal will increase due to the urban development that will take place in these areas and the region will witness the establishment of new real estate projects and the development of infrastructure, which will enhance the attractiveness of real estate and increase investment opportunities.
- The areas adjacent to the new canal are within walking distance of major amenities such as airports, malls, hospitals and schools and this enhances the attractiveness of these areas for investors and residents.
- Istanbul already offers many famous tourist attractions, and with the construction of the new canal, the city's attractiveness as a global tourist destination will increase, leading to an increase in interest in real estate in the neighboring areas.
- Investing in real estate near the new canal is an opportunity for good investment returns in the long run.
- Providing new job opportunities in the surrounding areas, these areas will witness economic growth and an increase in commercial and tourism activities, which leads to an increase in the demand for real estate and opens new job opportunities in the real estate sector and related professions.
Areas near the new canal in Istanbul
Here is a list of areas that have stunning views of the new Istanbul Canal
Basaksehir
Basaksehir is located on the European side of Istanbul and it takes about 45 minutes to reach the city center using public transportation and the area has had major projects to develop infrastructure and improve public transportation in recent years, making it an attractive destination for investors and residents alike.
The region has seen significant growth in recent years, with prices increasing at an annual rate of up to 10% and the region's plans to establish a new airport in the region are also expected to increase the demand for real estate in Basaksehir.
Arnavutkoy
It is one of the finest and most beautiful areas on the European side of Istanbul, and it is characterized by its central location, as it is only 15 minutes from Ataturk Airport and 20 minutes from Taksim, Arnavutkoy is surrounded from the north by the Bosphorus Strait, from the south is Besiktas, from the east is Sariyer, and from the west is Sultan Eyup, Arnavutkoy has a coastline of 11 kilometers, and thanks to its natural beauty and central location, this area is a sought-after residential destination.
The real estate market in Arnavutkoy has been strong for several years, as it witnessed a clear rise in prices in recent years, and the region has witnessed an increase in the number of luxury projects, as developers have realized the potential and attractiveness of this region and in addition, a variety of luxury properties are available in the area, including apartments, villas, and luxury apartment complexes.
Basin Express
It is one of the main areas for real estate investment in Istanbul, and it is characterized by its central location and good connectivity to other parts of the city and the presence of many multinational companies in the area makes it a prime location for residential and commercial investment.
Upon completion of the construction of the new Istanbul Canal, it will have a significant impact on the area that the canal will link the Black Sea with the Sea of Marmara, and this will lead to an increase in the value of real estate in the region, and the region will become a more suitable place for living and working, which increases the attractiveness of investment in it.
The real estate market in Basin Express is expected to witness an increasing demand, with increasing interest in the area due to its development and its direct connection to the new canal and in addition, the area provides a variety of services and facilities, such as shopping malls, restaurants and hotels, which enhances the attractiveness of investment in it.
Reasons that encourage foreigners to invest in real estate in Istanbul
- Turkey is experiencing strong economic growth, and Istanbul is a major center for business and trade. This growth opens wide investment opportunities in the real estate sector.
- Real estate ownership laws in Istanbul allow foreigners to buy real estate easily and with full ownership.
- Despite the strong economic growth, the real estate price level in Istanbul is still reasonable compared to other cities of global importance.
- Istanbul combines different cultures and ethnic diversity, and enjoys a unique geographical location between the European and Asian continents.
- The city includes wonderful historical and cultural attractions in addition to charming natural landscapes, which makes it a popular tourist destination and a magnet for real estate investors.
- Istanbul is characterized by the high financial return of real estate investments. Foreigners can invest in real estate to generate rental income or to benefit from the increase in the value of real estate in the long term.
- Benefiting from the Turkish citizenship law by purchasing a property in Istanbul worth 400 thousand US dollars and enjoying the rights of a Turkish citizen.
- The advantage of obtaining real estate residency by purchasing an apartment in Istanbul at a value of $75,000, provided that you pledge not to sell for a period of 3 years.
- Benefit from the tax incentives granted by the Turkish government to investors wishing to invest in real estate in Istanbul.
- Istanbul includes a variety of malls and commercial centers, including: Mall of Istanbul, Istanbul Cevahir, Venezia Mall Istanbul.
- You can obtain a Turkish passport after being granted Turkish citizenship and enjoy freedom of movement and travel.
Common questions
What is the impact of the new Istanbul Canal project on the real estate market in the region?
The new Istanbul Canal project is expected to increase the value of real estate in the area adjacent to the canal, as the canal will connect the Black Sea and the Sea of Marmara, which will enhance the value of real estate and make it attractive to investors.
Is real estate investment near the new canal an excellent opportunity?
Yes, investing in real estate near the new canal is an excellent opportunity and it is expected that interest in the area will increase and demand for real estate there will increase with the completion of the project, which could lead to an increase in real estate value and good financial returns.
Do you expect an increase in real estate prices in the near future?
Real estate prices in the area are expected to increase in the near future, as with the progress of construction work and the completion of the canal project, the area's attractiveness to investors and residents will increase, and this may lead to an increase in demand and an increase in prices.
The idea of buying real estate in Turkeyhas become popular among those interested in obtaining an ideal opportunity for housing or investment and take advantage of the appropriate real estate investment options in Istanbul to obtain a high return by communicating with our real estate consultants.
Do not forget that investing in real estate in Turkey is only a way to gain Turkish citizenship or real estate residencepermit that allows you to stay in the country legally and then acquire many of the privileges that a Turkish citizen gets.
Related articles:
Renewal of real estate residence in Turkey 2023
Cheap villas in Turkey for sale 2023
Buying real estate in Turkey in installments
Endless options within the Turkish real estate market
The fastest way to obtain Turkish citizenship
Apartments for Sale in Istanbul
Successful real estate investment in Turkey 2023
Luxury real estate for sale in Istanbul 2023
Buying real estate in European Istanbul 2023
Obtaining Turkish Citizenship Through Real Estate Investment
Real Estate Investment in Istanbul 2023
Types of Turkish passport and the characteristics of each
Feature of residential apartments in Turkey
Advantages of buying a property in Turkey with Ist Homes
Commercial lands for sale in Istanbul
#Istanbul_apartments #real_estate_investment
#Turkish_citizenship #Turkish_real_estate #Isthomes
