Istanbul Train Link to Drive Turkish Property Investment

With the increased confidence shown in Turkey's improving economy being accompanied by ongoing developments in public services, it comes as no surprise to see the rise of an equally invigorated Turkish property market. As the highest performing European financial market, investors have been staggered by the results of the latest Knight Frank Global House Price Index, which demonstrated a 12.2% yearly rise in Turkish property prices by the second quarter of 2013.

 

As the second most populated city in the world, the credit for such a marked resurgence can be most duly attributed to Istanbul. Forming the centre of Turkey's financial renaissance, demand for residential housing has gone hand-in-hand with October's announcement of the Marmaray Project. Cross-funded via both Japanese and Turkish interests, this $4 Billion venture is set to have dramatic results, whilst justifying the ongoing confidence of those looking to invest in Istanbul Property.

 

Developed beneath the Bosphorus Strait. a 1.4 kilometre tunnel will provide a direct rail link between the city's European and Asian districts. Whilst marking an ongoing improvement in trade relations, the project promises to impact greatly upon Turkey's plan to develop a thriving economy based upon solid international property investment. Recent loosening of the country's reciprocity laws have allowed for less restricted  foreign ownership and, with the availability of new rail routes to various Istanbul districts, there promises to be an influx of new and appealing Istanbul apartments for sale.

 

Spot Blue director, Julian Walker, has been keen to praise Istanbul's resurgent property market, not only for the pace at which it continues to improve, but for the manner in which the city's expansion is taking place. Citing both residential and commercial developments as "cutting edge", city-wide renovation is seeing a demand-filling spurt of new property investment opportunities in Kavacik-Beykoz, Kurtkoy, Bahcesehir, Beylikduzu, Halkali and Erenkoy. The same level of demand is now expected to be mirrored across an array of districts set to enjoy the benefits of a more rewarding public transport system.

 

The Marmaray Project's priorities have always been focussed upon improving accessibility for local Turkish citizens. However, it's ongoing impact is likely to prove equally successful in continuing the recent revival of Istanbul tourism. The Turkish Tourism Ministry were able to quote a 10.64 percent growth in visiting foreign nationals between the August months of 2012 and 2013. It is hoped that such a cultural resurgence will allow for even greater international investment, with lifestyle property purchases accompanying those founded upon more fiscally rewarding foundations.

 

As one of the most exciting property markets in Europe, demand has been accompanied by a wide array of international investment opportunities. As one of the leading Turkish property agencies within the UK, Spot Blue are primed to maximise that investment. To browse our available properties, or seek the advice of our team, please Click Here.