Turkey continues to buck global trends with GDP growth rates of 12% recorded for Q1 2010, domestic banks increasing the availability of credit by up to 30% and now 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 become a honey pot for foreign investors with the number of international investors seeking 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% growth in the total value of these investments for the same period.  

Steven Worboys, MD of the UK based Turkey investment property experts, Experience International, stated,

“Istanbul has proved one of our most successful property investment opportunities of 2010. We have clients from not only the UK but 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 the year more than 1,400 overseas investors set up companies within Istanbul with the total value of capital investments made in this period up by a massive 44.68% compared to the last half of 2009.

As Worboys remarks,

“International investor confidence in Turkey and more specifically Istanbul remains high. Being situated outside the troubled euro zone is very appealing and Turkey appears to have avoided the negative effects from neighbouring Greece.”

GDP forecasts for the rest 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.

Forinvestors interested in investing in Istanbul then one particular opportunity is well worth further consideration.

No1 Knightsbridge currently offers 1, 2 and 3 bedroom luxury Istanbul Apartments located in the burgeoning suburb of Beylikduzu, on the European side of the city. At the moment Istanbul has a housing shortage of some 250,000 units a year and so the demand for quality rental accommodation is high. Only 20% of units are available to overseas investors and can be purchased from as low as £23,250 with 70% finance available for European Union members.

For more information simply contact the experts at Experience International on +44 (0) 207 321 5858 or go to Experience-International.co.uk.