The Istanbul Canal is a waterway that is planned to open in 2023 and stretches from the Sea of Marmara in Istanbul to the Istanbul Strait. This channel aims to reduce the density of maritime traffic passing through the Sea of Marmara and to increase the safety of maritime transport.
The Istanbul Canal will eliminate maritime travel through the Sea of Marmara, which is unsafe due to traffic jams in the Bosfor Strait. It will also be a solution to the pollution of the Bosfor Strait because the canal will facilitate sea travel despite natural obstacles such as submarine tunnels in the Sea of Marmara and currents to the Sea of Marmara.
The Istanbul Canal will also make a serious contribution to the tourism sector. Touristic facilities and touristic settlements to be built along the canal will contribute to the development of the tourism sector and increase the touristic value of Istanbul.
The Istanbul Canal project will also have an impact on the real estate market in Istanbul. Touristic facilities and touristic settlements to be built along the Istanbul Canal may cause real estate prices to rise. In addition, marinas and marinas to be built along the canal will create an important potential for sea tourism in Istanbul and may cause sea tourism-related real estate prices to rise.
On the other hand, a great acceleration is expected in the construction materials, furniture, equipment and service sectors in Istanbul during and after the construction of the touristic facilities and touristic settlements to be built along the Istanbul Canal. This will be economically beneficial in Istanbul.
The Istanbul Canal project can have positive impacts on the real estate market in Istanbul, but it can also have negative impacts, such as the increase or decrease in real estate prices due to the construction process and increased tourism. Therefore, after the completion of the Istanbul Canal project, it will take some time to fully understand how the real estate market will be affected.
