Why Invest in F2 Istanbul?
Emerging property market;
The west side of Istanbul has experienced a huge transformation over the past decade, fast becoming a commercial hub and experiencing a dramatic increase in land and property prices. Today, the property prices have levelled in the West, pushing investors to look elsewhere for emerging property markets within Istanbul.
All focus has turned to the eastern side of Istanbul. Not only are prices around 50% cheaper than the West side, the difference between the two areas is narrowing as homeowners are beginning to demand the superior urban planning, better infrastructure, additional space and green areas.
The standard has been set. The experience and knowledge gained from developing one side of the city will be invaluable to developers and investors; the eastern side will benefit enormously from Istanbul’s’ new expertise. Property in Istanbul
Massive investment in infrastructure and the new international airport is further increasing the growth potential of the East side of Istanbul.
Discover more about Istanbul property market
Istanbul - European Capital of Culture;
Selected to become the European Capital of Culture for 2010, Istanbul brings huge national and international visibility, employment growth in the culture and tourism sectors and external investments.
Attracts record amounts of foreign investments:
Dubai government owned Emaar Properties are investing US$5-10 billion over the next few years. Istanbul is fast becoming a regional centre for global economies such as Coca Cola, General Electric, Microsoft and Proctor and Gamble. Ikea opened its first Turkish Store in Istanbul in 2005 and Harvey Nichols soon followed in October 2006.
Housing Shortage;
It is estimated that the Turkey needs approximately 400,000 new residences each year, of which only 200,000 are being built. The majority of the demand for the new dwellings is in Istanbul, where urban immigration continues at a rapid pace. This equates to a massive housing deficit. The deficit combined with a rapidly growing young population, rising personal wealth, and the increase of urbanisation, indicates a strong and growing demand for residential property in the city.
A popular Tourist destination:
Istanbul is the most popular tourist destination in Turkey. It attracted 4,849,712 visitors in 2006, 23% of the total arrivals. Istanbul juxtaposes the past and present with its ancient monuments and contemporary skyscrapers and continues to attract an ever increasing number of tourists. The emergence of low cost airlines such as Ryanair operating direct flights to the city will further increase the accessibility of the city to the global tourism market.
Formula 1 track; Istanbul Park
Although new to the calendar in 2005 the Istanbul Formula 1 track has already established itself as one of the truly great circuits on the Formula 1 calendar. Bernie Ecclestone described it as “the best track in the world” and has signed a 15 year lease to show his commitment.
Transformation to a Global Business Centre:
Istanbul's strategic setting at the intersection of Europe and Asia, its proximity to the Middle East, Africa and the Black Sea area, and its resources and wealth endow the city with the external dynamics to emerge as a global business centre in 21st century.
The central and the municipal government have the political will to accelerate Istanbul's transformation into an international commercial and service centre by undertaking an action plan that calls for:
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• Providing incentives to multinational companies to establish production and communication facilities.
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• Establishment of research centres to promote innovation and technological advances.
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• Development of information transmission systems
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• Improvement in communications, real estate, marketing and insurance services.
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• Attracting international financial institutions, organizations, companies and centres.
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• Development of international and intercity transportation by air, land, and sea.
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• Promotion of Istanbul as a destination for tourists, congresses, conferences and meetings.
