Posted on 31 May 2016
The Turkish city of Bursa, including its coastal suburbs, is gearing up to become a property hot spot, following the completion and imminent opening of a landmark road bridge over the Marmara Sea, which will drastically cut journey times to Istanbul, said Spot Blue International Property in May 2016.
Bursa, Turkey’s fourth largest city and third most popular in terms of foreign property purchases, lies along the route of the new six-lane Istanbul-Izmir Highway Project. The first – and most complex – phase of this super highway included the creation of the 3.3-kilometre Izmit Bay suspension bridge linking Gebze, just east of Istanbul, with the southern shore of the Marmara Sea. In April, President Erdogan attended a ceremony marking the completion of the bridge, which is expected to open to traffic in Summer 2016.
The new bridge and motorway will mean drive-time between Istanbul’s Sabiha Airport and the eastern part of the Bursa Province, including Bursa city, will be less than an hour. Completing the Izmit Bay bridge is a major achievement for Turkey – it is the fourth longest suspension bridge in the world and second longest in Europe. Meanwhile, the $6.3-billion Istanbul-Izmir Highway Project 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 from 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,” said 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.”
Bursa offers an alternative city investment destination to Istanbul, 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 Spot Blue International Property from $195,000.
Twenty minutes north of Bursa city centre is Mudanya, a resort on the shores of the Marmara Sea with a ferry service to Istanbul. The town became famous for the export of silk but today its main appeal are its sandy beaches, pretty promenade and desirable homes with sea views. Spot Blue Property International has a selection of property in Mudanya, ideal for Middle Eastern investors, starting from just $82,000 for an off-plan apartment within a gated complex.