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The New Çanakkale Bridge Increases Real Estate Prices As Buyers Continue to Choose Agricultural Lands

The historical Gulf of Gallipoli is expected to be the home of a new bridge that will connect the two ends of the Marmara regions, and the European and Asian continents to one another by 2022. Receiving its name from the Turkish Naval Victory on March 18, 1915, the Çanakkale 1915 Bridge is expected to relieve traffic between Istanbul, as well as decrease the time of travel. The Bridge's surrounding villages and towns, around Lapseki and Gallipoli, have seen an increasing curiosity by the as a new investment center by non-locals. Since Çanakkale is seen as one of the most liveable destinations in Turkey, the agricultural, open fields, as well as property real estate market continues to pull people living in Istanbul especially. While the city has 1+1s from 100.000 TRY last year, now their prices have increased by %100. 3 + 1 properties in the city center are now on sale from 650.000 TRY, reaching 1.2 Million TRY. These prices are only expected to increase as the bridge's opening date nears.

While Turkey has seen an increase in property sales to foreigners in the last few years, the locals also seem to increase their demands from the real estate sector. Some provinces have seen a %300 increase in sales. According to the Turkish Title Deed and Cadastre general manager Mehmet Zeki Adlı, the daily property sales are in 20-22 Thousand. Turkey's January - October 2020 total sales were nearing 1.3 million in the real estate sector. According to Adlı, the land sales have increased %20 from last year, reaching 368.215 in total sales between Jan-Oct.