Category: Turkey

Location Focus: Bahcesehir

Bahcesehir - Turkey Property investmentLocation Focus: The Turkish city of Bahcesehir is one of the hottest places to buy investment property.

Turkey is currently the hottest destination for travel and property, the 16th largest economy in the world which welcomes 30 million tourists per year and rising according to ABTA. The economic powerhouse of Istanbul is the destination in Turkey ranking as the number 1 city for new property acquisitions and developments according to the latest Emerging Trends in Real Estate Report Europe from PwC and the Urban Land Institute. And Bahcesehir is the hot new destination in Istanbul for property investment with a growing university, high demand from the middle classes for quality property and impressive transport links to the central business district.

Turkish Property Market Rise Set To Continue

Bodrum propertyAt a recent press conference held by the Turkish Real Estate Investing Partners Association (GYODER), it was revealed that property sales in Turkey to foreigners in 2010 were up 40% reaching sales of $2.5 billion compared to the previous year.

Not quite eclipsing the pinnacle of Turkey’s property performance, between the economic peak in 2006 to 2008 sales to foreigners approached $3 billion, the recent figures disclosed in their “The Real Estate Sector of Turkey and The World, Fourth Quarter 2010” report, clearly show that Turkey’s popularity as a holiday home and investment destination, unlike some countries, is far from waning.

Hotel rooms spark investor interest in Istanbul property

Elite Perla Palace hotel roomEven though Turkey’s surging economy is the current driving force behind the latest wave of interest in Istanbul, this is a city that is making a name for itself off its own back too, and drawing the attention of the European property investor, one expert has claimed.

A recent PricewaterhouseCoopers (PwC) survey has unveiled as the most popular location in Europe for real estate investors, and there are probably two crucial reasons for this: tourists and big business.
And, next month (March) the city will get another significant boost when it launches its first 40-day shopping festival. The event will dominate the entire city and is likely to see hotel room occupancy soar once again.

Istanbul: A 2011 Property Investment Hot Spot

Turkey remains a great place for overseas property investors to buy, particularly in the capital city of Istanbul.

In January alone, according to the Turkish Culture and Tourism Ministry, Istanbul saw a 28.5 pc increase in the number of tourists visiting the city – meaning many foreign property investors are keenly watching the local property market.

The was a large mix in the tourists visiting – Germans topped the list followed by Russia, Italy, Iran, the UK and the US. With new international airport already in the pipeline, it is unsurprising that many real estate investors are contemplating Turkey for their property portfolios.

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.

Istanbul Records Over 27% Increase in Levels of Foreign Direct Investment

Istanbul Property For SaleTurkey continues to buck global trends with GDP growth rates of 12% recorded for Q1 2010, domestic banks increasing the availability of credit by up to 30% and now levels of foreign direct investment in Istanbul are up by 27% according to the Istanbul Chamber of Commerce (ITO).

Turkey’s second city and economic powerhouse, Istanbul, has become a honey pot for international investors with the number of foreign investors planning to establish businesses or expand their operations in Istanbul up by over 6% in the first half of 2010 (compared to the second half of 2009). The ITO released data also revealed a 27.16% increase in the total value of these investments for the same period.

Record Number of Brits Now Own Turkish Property

property in TurkeyAccording to the latest data released by the Turkish General Directorate of Land Registry, demand for Turkish property is not showing any signs of slowing with a record 32,000 Britons now owning property in the country where east meets west.

The last couple of years have seen interest in second homes especially along the stunning Aegean and Mediterranean coastlines swell with foreign investors purchasing twice as much property than they did in total over the past 79 years since the founding of the Republic, the data reveals. European buyers in particular have been attracted to Turkey due to the affordable property prices, low cost of living and direct access from the UK.