Sea tunnel to give turkish property a boost

Universal21.com predict that the project, the first sea tunnel to link two continents, will be a “major step” in reducing Istanbul’s congestion and improving travel times between the European and Asian sides of the city.

The reduction in journey times from outside the city into the Centre will also encourage investor interest in previously overlooked areas.

The 47-miles tunnel is estimated to have cost $3 billion to construct and it will opening on the 90th anniversary of the founding of the Ataturk's Republic.

Adil Yaman, Director of the investment property specialists, comments: “The significance of this project cannot be underestimated. This tunnel is about to link Asia to Europe and speed up journey times significantly. This will make it easier to do business and travel far more comfortable. It is a truly historic moment for the city and Turkey.”

The tunnel arrives as Turkey’s property market continues to accelerate. Indeed, prices of Istanbul property have jumped by more than 12 per cent year-on-year, according to Turkey’s Central Bank.