Istanbul Channel, is the official route of the Istanbul project, which has been launched. It is hoped that the project will be completed as soon as possible, as work is in full swing. The project has made significant investments, starting with 65 billion TL.
But Istanbul’s house prices seem to have been affected by the Istanbul Canal project. Property prices around the project are starting to rise, especially in cities where rentals are not cheap. The average price per square meter of houses for sale in Kogek Jumjja is 3,800 TL. In this case, the house price of 50 square meters is about 180,000 Turkish lira, and this city has an annual increase of 4% in residential properties, 17 TL on average price per square meter of rented houses. Consequently, the average price of the house is about 300,000 TL. The average price per square meter of rented houses in the city of Pakak Shahir, which has an annual increase of 10% on the price of rented houses, equivalent to 13 Turkish liras on the average price per square meter.
Price per square meter of property for sale in Arnavtokoy is 316000 TL, meaning that the price of a house of 100 square meters is about 231,600 TL. This city has an annual increase of 5% on the prices of residential properties, ie an increase of 8 Turkish lira on the average price per square meter.
The price per square meter of residential properties in Esnioret is 850 TL. The increase on the average price per square meter of rented accommodation was 10 Turkish lira.