New Istanbul Airport Plans Create Opportunities For Property Investors

Istanbul could be an excellent place to buy property in 2011 with plans for a third airport for Turkey’s capital approved.

The Silivri district on the European side of the city will house the site for the new airport which is expected to have a capacity several times that of the main airport Ataturk International. Ataturk International saw almost 30 million arrivals in 2009, and 2010 saw a 13% increase in this number in the first four months alone. On the other side of the city, Sabiha Gökçen airport is popular with budget airlines with over 11 milion passengers expected to pass through the airport this year.

The new airport means that Istanbul will become even more accessible to tourists from around the world. With an increase in tourism, there is also likely to be an increase in demand for rental properties, and this in turn should help keep property prices in the capital city stable. Many large hotel chains are already reportedly preparing to expand the number of hotel rooms they offer in anticipation of increased traveller numbers and many developers and contemplating building more buy-to-let developments in anticipation of increased property investor interest in Istanbul.

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