Istanbul is to be Europe’s premier ‘buy to let city’ in 2013 (Wall Street Journal). Turkish government forecasts the need for 2.5 million new homes by 2015. Anticipated 500,000 new buyers annually for both residential and commercial property. New mortgage legislation allows foreigners and locals to borrow, driving prices upwards. High rental yield with returns above 7.5% - 10%, long term local tenants. 35% rise in investment from Arab nations. One of the world's fastest growing economies GDP averaging 8% per annum in the last 5 years. Regional HQ for blue chip companies Including Sony Ericsson, Microsoft and Coca Cola.
Beylikdüzü has one of the strongest growth scenarios within Istanbul Turkey. This is due to its proximity to the city centre combined with the benefits of living in a well serviced property apartments environment away from the over-crowded city centre. Price indicators show 20% growth on current projects from off-plan to completion in 18 months. Beylikdüzü where is Istanbul’s newest and fastest expanding suburb with sports, cultural and shopping centres. Ataturk International Istanbul Airport is only 15 km away and Istanbul’s proposed third International Airport at Silivri will be only 10 minutes drive away. Great metro link now opened.
With the BOT model, several new motorways and bridges are now going to be constructed in Turkey and these will make a major impact on the country’s connectivity. In all 28 BOT projects will be implemented with 16 high priority projects being completed by 2023 and the other 12 identified as being of secondary priority to be completed by 2035. In total the extensions to the motorway network will total 9,680km.Those projects to be complete by 2023 total 5,550km in all and will cost in the region of US$47 billion. Three projects are already ongoing and total 523km, with a further 13 projects to be completed by 2023. Plans are in hand for a further four of the projects and these will cost around $14 billion in all. By the time the first 16 projects are completed in 2023, Turkey’s motorway network will have been extended by 7,500km.