Istanbul tipped as next property hotspot
Tuesday, May 27, 2008
The Turkish Daily News has reported city mayor Kadir Topbas speaking in real estate investments and urban regeneration conference said that Istanbul is ideal overseas investors. Mr. Topbas has said that Istanbul is a good option because it presents a range of investment opportunities.
The official data released by the Land Registry Office has revealed that over 1 million properties were sold in 2006 with annual revenue generated by the sales rising 14.7% from 2005 and the sales revenue increased by 30% last year. This proves that Property in Istanbul is most valuable in the country. Today's Zaman reported that The Turkish Highways Directorate has sold land in Istanbul for $800 million which emphasize the lucrative investment opportunity provided by the real estate market in the city.
Foreign Property Buyer has stated that Istanbul is attracting high levels of interest from investors in other countries. Cultural attractions, a good transport infrastructure and Istanbul's accessibility from the UK are cited as possible reasons for its popularity with British investors. The recent PricewaterhouseCoopers/Urban Land Institute survey has revealed that Istanbul offers better real estate development scenario than any other city.
Moreover, the government is diverting significant amount of money with the purpose of restoring and preserving sites of local, cultural and artistic interest so as to make it the European Capital of Culture in 2010.
Social BookmarkingThe official data released by the Land Registry Office has revealed that over 1 million properties were sold in 2006 with annual revenue generated by the sales rising 14.7% from 2005 and the sales revenue increased by 30% last year. This proves that Property in Istanbul is most valuable in the country. Today's Zaman reported that The Turkish Highways Directorate has sold land in Istanbul for $800 million which emphasize the lucrative investment opportunity provided by the real estate market in the city.
Foreign Property Buyer has stated that Istanbul is attracting high levels of interest from investors in other countries. Cultural attractions, a good transport infrastructure and Istanbul's accessibility from the UK are cited as possible reasons for its popularity with British investors. The recent PricewaterhouseCoopers/Urban Land Institute survey has revealed that Istanbul offers better real estate development scenario than any other city.
Moreover, the government is diverting significant amount of money with the purpose of restoring and preserving sites of local, cultural and artistic interest so as to make it the European Capital of Culture in 2010.
Labels: Istanbul
