Canal Istanbul Project, which is known as Crazy Project, has been remained on the agenda since 2011. Explanation of an official route for the project to unite the Black Sea and Marmara has not yet been made. According to the report of Okhan Şentürk from “Para Dergisi”, Silivri was called at the first stage, then Küçükçekmece, Başakşehir and Arnavutköy line were spoken for Canal Istanbul. The Ministry of Transport, Maritime Affairs and Communications expedited matters for Canal Istanbul. The surveying of the project has been brought to a certain degree. There is an intensive activity in the area where the canal pass. This surveying is targeted to be completed in the first half of next year. It is estimated that the project can be done in the second half of the year at the earliest.
Land prices are rising rapidly
Although the official route to "Canal Istanbul", one of Turkey's largest projects in the last period, has not been announced, the real estate movement in the regions where the project will pass is increasing steadily.
Most price increase in Arnavutköy
Canal Istanbul will be on the line of Küçükçekmece-Başakşehir-Arnavutköy. The project caused an increase in real estate prices in Küçükçekmece, Başaksehir, Esenyurt and Arnavutköy. When the real estate value increase of the last three years is taken into consideration in the regions affected by the project, it is seen that the greatest increase is in Arnavutköy. As of the end of September, the average residential sales price in Arnavutköy is 2,200 TL per square meter, and the return period of the housing investment is 25 years. Başakşehir comes second in real estate value increase. Güvercintepe, Şahintepe, Kayabaşı and Altınşehir districts offend the eye, where the most value increase will be seen due to the project.