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Rising Property Market in Turkey Sparks New Residential Istanbul Apartment Developments
Rising Property Market in Turkey Sparks New Residential Istanbul Apartment Developments
With its potential to become a member of the European Union, Turkey has had a population explosion in recent years.
Trafalgar Square,
London,
United Kingdom
(prbd.net)
07/02/2011
With its potential to become a member of the European Union, Turkey has had a population explosion in recent years. Beginning in 2005, foreigners were permitted to purchase land after a brief hiatus. If and when entry is given, Istanbul is poised to become one of the largest cities in the European Union. This has caused a great interest in Istanbul property and development of Istanbul apartment complexes is at an all-time high. Many foreign investors are buying up Istanbul property in the hopes of cashing in on the rising costs and demand if entry in the EU is granted.
Research
Recent statistics show that almost half a million people are arriving to work or study in Istanbul each year. This has also caused an increased demand for good quality Istanbul apartments.
In a recent Pricewaterhouse report on European real estate trends for the year of 2010, Istanbul property was given the position of number one for interest to developers. In comparison with major European cities like Paris, Rome, Belgium or Berlin, Istanbul property remains available at a relatively low price.
This has caused many expats and visitors to begin investing in Istanbul apartments as second and third homes. Another popular move for savvy buyers is to take an existing Istanbul property that was developed in earlier centuries and restore it to make it inhabitable once again. This has proved a very profitable move for some, as many foreign investors and visitors wish to own a parcel of this ancient and beautiful city.
Discover Istanbul Property
A good way to examine the availability of Istanbul apartments is to have a walk through the streets of the ancient city and have a look for yourself. In this way, you can see the condition and location of the different types of properties on the marketand also ensure that it is in a part of the city that you would wish to reside and that would be attractive to other people. Some specialist companies like Experience International who are a leading Istanbul property investment agent can arrange bespoke inspection tours to Istanbul so you can view the different properties available and experience the city first hand.
After you have found an Istanbul property that interests you, it is important to examine the titles closely and deeds that may be held on the property. This is a simple process and there are many reputable agencies that can help you navigate the procedure. It is best to work with a certified real estate agent to negotiate the price of the property and also appoint an independent lawyer to ensure all documents, deeds, titles and licences are official.
With its growing population and bright economic future Turkey and especially Istanbul is set to become an investor and property developers dream. Good quality apartments in Istanbul and other types of Istanbul investment properties are increasing in popularity for those looking to take advantage of this growing and emerging property market.
Crystal Heights – Strong Demand
One development of luxury apartments in Istanbul that is seeing a lot of interest from international investors is Crystal heights. Construction of the iconic C-shaped tower of Crystal Heights is well underway with site clearance completed, ground works in progress and much of the main structure completed.
The developer holds a sound track record of completing large projects in the city to specification, budget and schedule. Completion of Crystal Heights is due December 2011.
Demand for the luxury 1 & 2 bedroom apartments in Phase 2 of Crystal Heights has been overwhelming and now only a limited number remain. The apartments are due for a 10 % price increase on 15th February 2011which highlights both the demand and strength of the market.
For more details about some of the new Istanbul Apartments developed for investors including Crystal Heights then visit Experience International at http://www.istanbul-property.com/
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Attaining European Capital of Culture status has generally been regarded as resulting in demand for real estate in the cities concerned
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