NEARBY REGIONS HAVE RISED IN VALUE WITH THE NEW HIGHWAY AND THE BAY BRIDGE | Property in Turkey
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Property in Turkey

NEARBY REGIONS HAVE RISED IN VALUE WITH THE NEW HIGHWAY AND THE BAY BRIDGE

Posted by Property In Turkey on 9 May 2016
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With the opening of Izmit Bay Bridge that is going to be the 4th suspension bridge having the biggest center span in the world, it is observed that there have been great developments in the real estate sector thanks to the effects of the projects regionally both in construction and real estate.

It is expected that the new highway project will diminish the population of Istanbul that is the biggest city in Turkey and ease the city in many ways. Having made some explanations regarding the regional effects of the highway project, The board chairman of the Chamber of Real Estate Agents of Istanbul, Nizamettin Asa has said that the opportunity of the accesibiltiy to the nearby cities will increase and in this direction the settled population of Istanbul will decrease to some extent. He has continued by saying that the immigration to Istanbul continues every day and because of this fact Istanbul needs new suburb cities now. It is hoped that The Bay Bridge and the highway projects will find new solutions for this need in the future. Especially with Bursa’s being close to Istanbul makes the city even more attractive among investors who are interested in buying property in Turkey. With the opening of the new bridge, a new period will begin between Istanbul and Bursa.

The president of the Chamber of Real Estate Consultants of Bursa, Erdal Celebi has declared that the property values have rised significantly in Istanbul, Bursa and Izmir. This is connected with the development of the highway and the Bay Bridge in fact. The rise in value has been observed mostly in the lands and some popular areas.

The developments occured regionally have directly affected the real estate market. Particularly Bursa, Kocaeli and Izmir have experienced this since the industrial areas are located on this region and if the development happening in the West side of the cities is considered, this rise in value should be welcomed naturally. It is said by the experts that it is possible to experience a new rise in the future.

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