Istanbul Is Tipped As Property Investment Hotspot For 2010
Istanbul property is now predicted as the place to invest for 2010. Istanbul is said to be the gateway from west to east and that it provides western society and security along with the promise of the east’s captivating cosmopolitan culture and vibrant environments.
The latest Emerging Trends in Real Estate Europe Report just released by Price Waterhouse Coopers and the Urban Land Institute rank Istanbul, European Capital of Culture, number 1 in City Development Prospects in 2010.
Turkey investment property has been attractive for a good few years now but most of the developments and marketing in the overseas property industry was focused on more holiday lifestyle homes on the Med for example and has proven very popular with from around the world.
Turkey has traditionally capitalised on its attractive weather, stunning Aegean and Mediterranean coast, low cost of living and easy access to the UK with 73,000 overseas nationals (Turkish Statistical Institute) already calling Turkey home.
We would like to highlight that Turkey’s property boom is also due to rapidly growing cities such as Istanbul where the significant Istanbul property market deficit presents opportunity.
As Managing Director of Experience International, Steven Worboys, comments,
“The success of the Istanbul property market is a simple matter of supply and demand. Due to the fast growth of the city (some 400,000 new inhabitants arrive each year to work or study) the existing housing stock has reached capacity. It is estimated that 250,000 new homes per annum are required until 2015 according to the Real Estate Investment Trust Association to meet the demand generated by foreign as well as domestic investment.”
Istanbul is now establishing itself as the economic powerhouse of Turkey, offering some of the most attractive investment opportunities in the world.
Crystal Heights Istanbul
Crystal Heights is an apartment block of 337 luxury contemporary styled 1 & 2 bedroom apartments and duplexes and a great example of one of the latest and most attractive Istanbul investment properties available. You can get involved for a low cash outlay of only £13,500 (fixed in sterling) with the 70% available finance. Crystal Heights provides a 7% p.a. guaranteed rental for two years protected on completion in 2011 through collateral from the rental management company. the average rental income in Istanbul is around10% and because of high demand combined with the quality of the development investors can expect similar if not higher rental incomes from the property after the first 2 years guarantee.
For more information about Crystal Heights and to download your free invester report please visit www.istanbul-property.com.
