Istanbul Apartment Are a Very Attractive Investment!

Turkey is still bucking global trends with GDP growth rates of 12% generated for Q1 2010, Turkish banks increasing the availability of credit by up to 30% and the levels of FDI in Istanbul have increased by 27% according to the Istanbul Chamber of Commerce (ITO).

Istanbul, which is said to be Turkey’s powerhouse. has evolved into a very attractive destination for foreign investors with the amount of foreign investors planning to establish businesses or expand 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, comments,

“Istanbul has proved one of our most successful property investment opportunities of the year. We have investors from all over the world including South Africa, Australia, Ireland, Scandinavia, and the UAE all taking advantage of Istanbul’s significant housing shortage and investing in the domestic property market.”

In the first half of the year over 1,400 foreign investors established companies within Istanbul with the total value of capital investments made in this period up by a remarkable 44.68% compared to the last half of 2009.

As Worboys remarks,

“International investor confidence in Turkey and more specifically Istanbul remains high. Being located outside the troubled euro zone is very appealing and Turkey appears to have avoided the negative impact from neighbouring Greece.”

Gross Domestic product forecasts for the rest of 2010 currently sit at a healthy 6-7% and with extra 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 comprises 1, 2 and 3 bedroom luxury Istanbul apartments located in the burgeoning suburb of Beylikduzu, on the European side of the city. Currently Istanbul has a housing shortage of around 250,000 units a year and so the demand for quality rental accommodation is high. Only 20% of units are to be allocated to overseas investors and can be purchased from as low as