Istanbul Records Over 27% Increase in Levels of Foreign Direct Investment

Turkey is still bucking global trends with 12% GDP growth rates recorded for Q1 2010, domestic banks increasing access to credit by up to 30% and the levels of foreign direct investment in Istanbul have increased by 27% according to the Istanbul Chamber of Commerce (ITO).

Istanbul, which is said to be Turke’s powerhouse. has evolved into a very attractive destination for foreign investors with the number of international investors planning to set up 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 Turkey investment property experts, Experience International, comments,

“Istanbul has turned out to be one of our most successful property investment opportunities of the year. We have investors for all over the world including South Africa, Australia, Ireland, Scandinavia, and the UAE capitalising on Istanbul’s significant housing shortage and investing in the domestic property market.”

In the first half of 2010 over 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 very appealing and Turkey seems to have side-stepped the negative impact 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.

For those considering investing in Istanbul then one particular real estate opportunity should not be missed.

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 a year and so rental demand is high. Only 20% of units are available 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 contact the experts at Experience International on +44 (0) 207 321 5858 or visit Experience-International.co.uk.


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