Turkey: Marmara Sea bridge to boost Bursa property

Bursa, Turkey Photo: Iriskh

The Turkish city of Bursa could become the country’s new property hotspot, following the completion of a landmark new bridge over the Marmara Sea.

Bursa is Turkey’s fourth largest city and is currently the third most popular in terms of foreign property purchases. The city offers an alternative to the high-profile city, with the added bonus of offering skiing at nearby Mount Uludag.

“The fashionable district of Osmangazi offers investment opportunities, such as apartments on a new complex available from $195,000,” comments investment specialists Spot Blue International Property.

It could become even more popular, though, with the expected opening of the bridge this summer. The 3.3-kilometre Izmit Bay suspension bridge links Gebze, just east of Istanbul, with the southern shore of the Marmara Sea. It forms part of the new, six-lane Istanbul-Izmir highway, which connects Bursa, including its coastal suburbs, to Istanbul.

The new bridge and motorway will reduce drive-time between Istanbul’s Sabiha Airport and the eastern part of the Bursa Province to under an hour, which Spot Blue highlights as a “major achievement”.

Indeed, it is the fourth longest suspension bridge in the world and second longest in Europe, while the $6.3-billion highway represents the largest infrastructure project in Turkish history. It will cut the average drive time between Izmir on the Aegean Coast and Istanbul to approximately four hours – over half the current nine hours.

“Property prices in Yalova, just over the new bridge on the shore of the Marmara Sea, have already rocketed on the back of the project,” says Julian Walker, director at Spot Blue International Property. “We now expect this effect to spread west into Bursa Province as construction of the motorway, scheduled to be completed in its entirety by 2018, progresses. Bursa city and its resorts along the Marmara Sea are already popular with Gulf investors, in particular those from Saudi Arabia, the United Arab Emirates and Kuwait, and we would expect demand to grow as more investors look to take advantage of the improved infrastructure.”