Branded projects changing the face of Istanbul property
Branded residential projects are being built in almost every district of Istanbul. At the expensive end they’re creating revenue for the city as investment properties, and at the lower end they’re providing much-needed accommodation for the ever-growing city, accommodation that’s regulated and soundly built. A study conducted by EVA Real Estate Consultancy shows that branded residential projects are on the rise, with new developments being built in almost every corner of the city.
Turks at the top: the 32 Turks on Forbes’ billionaire list
Yesterday Forbes Magazine released its annual billionaire list, profiling the 1826 wealthiest people over 70 countries. As well as containing a few familiar faces (hello again, Bill Gates) it also contained 32 Turks. From the former Russian secret service agent-turned-tycoon to the rocky fortunes of the yogurt king of America, we’ve profiled the top Turkish billionaires who are making their mark at home and around the world.
Online sector boosted by investment in the Amazon.com of Turkey
A group of Gulf investors has just bought a stake in Turkey’s largest online retailer, Hepsiburada, in a 350 million Euro deal that is set to propel the company - and the country - into a new era of online shopping. Half of Turkey’s population is under 30, and they are becoming increasingly educated and online-savvy, a fact that hasn’t escaped investors looking to capitalise on this emerging demographic. Hepsiburada.com receives 14 million unique visitors a month and is aiming to become the next Amazon.com - a goal that looks achievable with the might of Abraaj’s investment behind it.
“Big Three” Istanbul streets in Europe’s top ten for rental increase
Three Istanbul streets have made the top 10 ranking for rental increases in Europe, according to a real estate consultancy. Istiklal, Bagdat and Abdi Ipekci avenues are three arteries that make up Istanbul’s beating heart - and as such they are prime real estate locations, commanding eye-watering rents. Istanbul’s growing population is propelling a rental and investment boom, and the scramble for property in this huge city is rarely out of the news. With so much potential for investment it’s unlikely that demand will flag anytime soon, earning this huge city its much-deserved reputation as one of the top investment locations worldwide.
BA’s new Turkish routes testimony to tourism success
The news that BA will increase its flights to Turkey, offering services from Gatwick to Bodrum and Dalaman, is expected to not only boost tourist numbers but increase interest in real estate in Turkey. British home owners in Turkey will enjoy better links with the UK, while those with rental homes can expect increased bookings and rental income. As well as BA’s new routes, there are also now flights offered year round by other carriers, allowing those living in Turkey’s southern regions to fly home even during off peak months.
Turkey lures American and Japanese tourists
2015 might be the year of tourist diversification for Turkey, with plans to attract new markets to the country. Turkey is still relatively unknown to most Americans, but this might change as the Turkish Tourism Office makes plans to entice US travellers - including lucrative business travellers - to event-rich Istanbul. Japanese tourists are also being targeted with the more offbeat areas of the country - and with Turkish cuisine.
Help to buy scheme for Turkish property buyers
A new ‘help to buy’ scheme is aiming to close the gap between foreign and domestic property investment, with the government offering help to Turkish first home buyers. The scheme will not only help provide accommodation for Turkey’s burgeoning middle classes, but also bolster the construction industry and overall economic growth. Meanwhile, an upturn in the demand for serviced apartments in Istanbul could herald this year’s big investment opportunity.
Greek anti austerity vote play into Turkish hands
This time it seems Greeks have indeed borne gifts for Turks with their Trojan Horse showing its teeth to ruling parties. Left-wing Syriza Party's election victory poised to send a wave of uncertainty throughout Europe, not a welcome sign for most of us, yet bears excellent news for Turkish real estate. Find out how and why..
Turkey to build first church in nearly 100 years
In a showing of the continued diversity and acceptance of other cultures, Turkey has announced plans to build a brand new Church in the country for the first time in nearly 100 years. Since the Republic of Turkey was founded in 1923, there have been no new churches built, only restoration and renovation of existing buildings, making this a significant announcement of intent by the current government.
Foreign sales of Turkish real estate set to top $5 billion in 2015
As we move into 2015, foreign sales of property in Turkey are set to top more than 5 billion USD in sales as the market continues to grow and more and more expats and people look to relocate to Turkey. Date released by the Turkish Statistical Institute shows that sales in 2014 increased a huge 59% from the year before - is there any stopping the Turkish real estate market?
Giant underground city found in Turkey from 3000 BC
A major underground city, believed to be the largest archaeological find of 2014, has just been discovered in Nevsehir, Turkey adding to the area's already acclaimed culture tourism fame, thanks to its fairy chimney rock formations that attract millions of tourists to this central Anatolian province each year. The underground city, which is believed to occupy a 7km zone under Nevsehir fortress is made up of 1000's of inter-connected rooms and towns. The discovery came as a result of..
Erdogan and Putin sign $100 billion bilateral trade deal
Russian President Vladimir Putin visited Ankara, Turkey on Monday, meeting with Turkish President Recep Tayyip Erdogan in a huge meeting revealing intentions to increase bilateral trade between the two nations up to a huge 100 billion USD annually by 2020. We take a look at the importance of this, as well as the relationship between two of the worlds most outspoken leaders.