Turkey is still bucking global trends with GDP growth rates of 12% recorded for Q1 2010, domestic banks increasing access to credit by up to 30% and now levels of FDI in Istanbul have increased 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 foreign investors with the amount of foreign investors planning to establish businesses or grow their operations in Istanbul by spinover 6% in the first half of 2010 (compared to the second half of 2009). The ITO released data also showed a 27.16% increase 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 2010. We have investors for 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 more than 1,400 overseas 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 especially Istanbul remains high. Being located outside the troubled euro zone is of great appeal and Turkey appears to have side-stepped the negative effects from neighbouring Greece.”

GDP forecasts for the remainder 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 currently offers 1, 2 and 3 bedroom luxury Istanbul apartments situated in the up and coming suburb of Beylikduzu, on the European side of the city. Currently Istanbul has a housing shortage of some 250,000 units per annum and so the demand for quality rental accommodation is high. Only 20% of units are to be allocated to

overseas buyers and can be purchased from as little as £23,250 with 70% finance available for European Union members.

For more details simply call the experts at Experience International on +44 (0) 207 321 5858 or go to Experience-International.co.uk.