The Eurasia Tunnel is opened today in Istanbul President of the Republic of Turkey Erdogan and Prime Minister Binali Yıldırım attended the ceremony.
Istanbul's Eurasia undersea tunnel will link Asian and European continents. The cost of the 2 storey tunnel is 1.3 billion dollars. The tunnel was built 15 kilometers long and 106 meters below the sea level. Asian and European sides of up to 100 minutes of journey time will be reduced to 15 minutes with this tunnel.
Manhattan in Istanbul
In many other cities around the world, tunnels make it easier for inner-city transportation. Manhattan is the heart of New York. 4 tunnels serve for recent 50 years in here. Thanks to A86 Tunnel passing under Paris, it is very easy to get out of the city. The tunnel in Malaysia's capital city, Kuala Lumpur is multi-purpose. This tunnel doesn't only facilitate the transportation of the city but also helps vehicles are being evacuated during periods of heavy rainfall.
The name "Eurasia" comes from combining two words Europe and Asia. With the Eurasia Undersea Tunnel, Istanbul is expected to gain a charm like Manhattan.
How Will Eurasia Tunnel Affect the Real Estate Prices?
The Eurasia Tunnel connects Zeytinburnu-Kazlicesme on the European Side and Kadikoy-Goztepe on the Asian Side of Istanbul. A considerable amount of families doesn't want to live in the Anatolian side of the city because their working places are located on the European side. The undersea tunnel will provide a fast link between the two sides of the city with ease. As expected, this will increase the value of the real estate projects in the Anatolian side. The tunnel is expected to add value the European side regions such as Zeytinburnu, Bakirkoy, and Bahcelievler located close to the exit point of the tunnel.
Which Real Estate Projects Will Gain Value?
Istanbul Homes offers many construction projects in areas that will be valued thanks to Eurasia Tunnel. The prices of the apartments close to the entrance point of the tunnel on the European side start from 150.000 Euro. The prices for the Bosphorus view apartments close to the tunnel on the Anatolian side start from 235.000 Euro. The apartments in these regions appreciated by 20% and 30% last year. According to experts, this year is expected the appreciation of 30-40%.