Turkey is still bucking global trends with 12% GDP growth rates generated for Q1 2010, domestic banks increasing access to 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 evolved into a very attractive destination for international investors with the number of foreign investors planning to set up businesses or grow their operations in Istanbul by over 6% in the first half of 2010 (compared to the second half of 2009). The ITO released data also showed a 27.16% growth in the total value of these investments for the same period.
Steven Worboys, MD of the UK based Istanbul property investment experts, Experience International, stated,
“Istanbul has turned out to be one of our most successful property investment opportunities of 2010. We have clients from not only the UK but South Africa, Australia, Ireland, Scandinavia and the UAE capitalising on Istanbul’s significant housing shortage and investing in the domestic property market.”
In the first half of 2010 over 1,400 overseas investors established companies within Istanbul with the total value of capital investments made in this period up by a massive 44.68% compared to the last half of 2009.
As Worboys remarks,
“International investor confidence in Turkey and especially Istanbul remains high. Being located outside the troubled euro zone is very appealing and Turkey appears to have side-stepped the negative impact from neighbouring Greece.”
GDP forecasts for the rest of 2010 currently sit at a healthy 6-7% and with additional support for candidacy from the British Prime Minister, David Cameron, on his recent visit, accession to the European Union looks increasingly more likely for Turkey.
Forinvestors considering investing in Istanbul then one particular opportunity is well worth further consideration.
No1 Knightsbridge currently offers 1, 2 and 3 bedroom luxury Istanbul apartments located in the burgeoning suburb of Beylikduzu, on the European side of the city. At the moment Istanbul has a housing shortage of around 250,000 units per annum and so the demand for quality rental accommodation is high. Only 20% of units are to be allocated to foreigh buyers and can be purchased from as little as ?23,250 with 70% finance available for EU members.
For additional information simply contact the experts at Experience International on +44 (0) 207 321 5858 or visit Experience-International.co.uk.
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