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Istanbul, Turkey - We've got it covered

There really is nowhere quite like Istanbul! The city is fast becoming one of the most exciting and prestigious cities in Europe leaving an impression on each and every visitor.

Istanbul is the economic, cultural and financial centre of Turkey. It is today a dynamic city with an energetic and innovative pulse. Located at the centre of two great empires, Ottoman and Byzantine, it is steeped in a fascinating history and still holds many of its traditions dear to its heart. Modern Istanbul is the contradiction, filled with over 15 million forward thinking, creative residents that are eager to embrace change and see their city grow. The increase in tourism and the cities growing popularity has resulted in around a 15% shortfall in residential housing. Older and more established residents tend to live in the buildings of traditional design throughout the cities central districts. The new wave of modern Istanbulus, the investors, foreigners and students opt for the modern city condos and luxury apartments springing up to cope with the demand in the suburbs.

Having been referred to as "Worlds Hippest City", Istanbul has for years been promoted by the design and fashion press as just that. Enchanting architecture, stylish bars and restaurants, modern business centres, fabulous art galleries and great transport links means today's Istanbul really does offer a little something for everyone. Istanbul is certainly the place to watch and invest in 2011

Top Tourist Attractions

Istanbul tourism figures rise dramatically year on year. Tourism is mainly centred on the European side of the city as the Asian side tends to be quieter and largely residential. There are four main areas of interest: Sultan Ahmet and the Old town, Bosphorus, Beyoglu (Pera district) and Princes Islands. Why is it so popular? A few of the main attractions include:

1 - The Blue Mosque (Sultan Ahmet Camii). A 'must see', the mosque dominates the skyline above Sultan Ahmet, it has become known as the 'blue mosque' due to its fabulous blue interior decorations made from blue Iznik tiles.
2 - St Sophie (Church of Divine Wisdom). Once known as the worlds greatest Christian church, it was built by Constantine the Great and designed to demonstrate the strength and wealth of the Roman Empire.
3 - Hippodrome. Think in terms of an open-air museum. The Hippodrome was the cultural focus of the Byzantine (Roman) empire and the scene of many chariot races. The remains of three great monuments can be seen; the Obelisk of Theodosius, the bronze Serpentine Column and the Column of Constantine.
4 - Topkapi Palace. Overlooking Istanbul Bogazici (Bosphorus) and the Marmara sea, the amazing Topkapi Palace was once the centre of the Ottoman Empire. Home to an impressive collection of china, artwork and jewels, it is a number of buildings arranged around a series of courtyards.
5 - Grand Bazaar. The world's largest covered historic Bazaar. One of Istanbul's main attractions and a hive of activity. Home to all manner of stalls and shops selling all manner of items from jewellery, clothes, leather, handicrafts, souvenirs, carpets, spices and fabrics.

"First for Development" Says PWC

Istanbul was voted No.1 European city in which to invest by The Financial Times in 2010. Turkey is now recognised as one of the most promising investment markets by many other trusted sources for 2011. Boasting one of the fastest growing economies, a favourable demographic, and having undergone many recent reforms in readiness for EU accession, Turkey certainly offers an intelligent investment choice.

Istanbul is a large metropolitan city and was the 'European Capital of Culture' in 2010. With a young, educated population and a large current housing shortage, it is no wonder that savvy investors are taking advantage of the cities real estate potential. The residential property market is rising constantly, around 15-20% per annum. Price Waterhouse Coopers December 2010 publication 'Emerging Trends in Real Estate 2010' ranks 'Istanbul first for development', above the likes of Berlin, Paris and London. They say 'the long-term economic prognosis for Turkey and Istanbul specifically is extremely positive'.

"City of the Future" National Geographic

Istanbul's population is set to reach 15 million by 2023 (Turkish Statistics Institute) meaning an extra 250,000 residential properties are required per year. This "City of the Future" as heralded by National Geographic, is now undergoing rapid modern development in its suburbs such as Beylikduzu and Esenyurt to meet the demand.

PWCs 2011 Emerging Trends Report tipped Turkey highly in terms of economic growth. The country currently ranks second in Europe for GDP growth, and has demonstrated a climb from 3.0% in 2009 to 5.5% in 2011 - further evidence supporting strong economic growth potential.

Istanbul offers the ideal buy to rent opportunity. With rapidly rising tourist figures and increasing numbers of international businesses setting up offices in the city, the opportunities to gain a healthy rental return are significant.

Affordable modern properties, many with bonded rental guarantees or superb launch prices, are currently available at excellent prices.

Invest in Istanbul

Turkeys fast-expanding economy is now more than double the annual average GDP growth forecast for the Eurozone. With a large and growing population continuing to undergo rapid urbanization, there is now a great demand for modern residential and commercial property throughout the country but most significantly in Istanbul.

As a candidature for European Union membership and with inflation stabilising, Turkey is now voted the place to invest by many respected parties and is well positioned to enjoy rapid growth.

With superb pre launch real estate investment offers starting at as little as £19,000, many projects offering guaranteed and bonded rental returns, flexible payment plans and up to 70% LTV mortgages available subject to status, there has never been a better time to invest in property in Istanbul and Turkey.

For information of specific developments and offers, please contact us.

Key Investment Points about Investing in Turkey

  • Due to population growth and continuing urbanization Turkey currently requires in excess of 500,000 new housing units per annum to satisfy current demand - 250 new homes identified as requiried in Istanbul
  • Mortgage lending commenced in 2007 and the Central Bank's policy of consciously decreasing interest rates has steadily increased demand and the rapidly emerging middle class has further fuelled the first time buyer market.
  • Democratic country with rich history and wealth of culture
  • 5 Universities located within the area, attracting students looking to rent.
  • Located at the junction of Europe and Asia
  • Population of 71.5 million and growing with significant shortage of housing
  • 15th largest economy in the world and 6th in the EU
  • Located outside of the Euro-zone
  • Over 73,000 overseas nationals already living in Turkey (Turkish Statistical Institute)
  • Rated among the Top 10 locations where real estate investors can safely buy residential or holiday homes in 2010 by the Financial Times
  • Booming tourism destination with 28 million tourists in 2009
  • Istanbul is a European Capital of Culture 2010
  • Low cost of living
  • Superb climate with long hot summers and short, mild winters
  • 279 Blue Flag beaches and 14 marinas
  • Mortgages now available to EU buyers
  • Named Golf Destination of the Year in 2008
  • Microsoft have recently moved their training centre to Istanbul.
  • Expected to become a full EU member by 2020
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