Commuter rail will link the Asian and the European parts of Istanbul, according to ee24.com citing antalyatoday.ru.
The "Marmaray" is a railway tunnel under the Bosphorus aimed to relieve pressure on roads and bridges and to link the city centre with new districts in outskirts and in suburbs. This commuter rail line will be connected to the subway system. Thus, the project will become not only actual, but also comfortable for passengers. It is expected that in October 2013 the system will work in normal operation mode.
"Project "Marmaray" will shake all of Istanbul with its high stimulating effect. Many areas will get real benefit from the project", says Julian Walker, head of Spot Blue real estate agency. According to him, the tunnel will connect existing lines into a coherent efficient transport system.
It is obvious that such a major infrastructure project will directly affect the real estate market in Istanbul. Firstly, the prices growth is expected in areas along the commuter rail's new line. Secondly, experts predict a boom of residential construction. The market will attract not only Turkish but also foreign buyers, including those who purchase a property to rent out.