Prime Minister Binali Yıldırım's announcement regarding the opening of the Çanakkale Suspension Bridge on March 18, 2017 has increased housing prices in the area by 700 percent. While one acre of land was sold at TL 10,000 ($3,200) last year, today the prices are now TL 70,000 per acre.

Prime Minister Binali Yıldırım announced during a Cabinet meeting on Friday that the Çanakkale Suspension Bridge project has started and the project will kick off on March 18, 2017.

The Çanakkale Suspension Bridge will be built between Çanakkale's Gelibolu and Lapseki districts. While the said bridge will have a 2,023-meter-long main span, its construction is expected to be completed by 2023.

Stating that Lapseki is ready in terms of construction and infrastructure, Lapseki Mayor Eyüp Yılmaz said an unplanned system will not be allowed in Lapseki. "It is important to meet the demands. Population growth is expected in Lapseki in the near future. We are currently arranging its infrastructure," Yılmaz said, suggesting that even though Lapseki's current population is around 15,000, infrastructure work along with water, natural gas and social facilities are carried out in accordance with about 60,000 people.

Speaking to DHA, Selahattin Bodur, working as a real estate dealer in Lapseki for the past six years, said there is "great mobility" in the district due to the construction of the new bridge. Pointing out that the land prices increased sevenfold compared to two years ago, Bodur said many investors from Bursa and Istanbul have asked for storage, apartments and lands for sale, suggesting that demand will soar during and after the holiday.

Another real estate dealer in the region Sadettin Atasoy said the prime minister's announcement about the opening of the bridge boosted the real estate sector.

The locals living in the area said the construction of the bridge will create a new source of income, pointing out that land prices in the district went up and it was becoming increasingly difficult to find land for sale.