Why Invest in Crystal Heights The New Istanbul Property Opportunity?
Istanbul property is now tipped as the place to invest for 2010. Istanbul is said to be the gateway from the west to the east and that it provides western society and security as well as the promise of the east’s captivating cosmopolitan culture and vibrant environments.
The newest Emerging Trends in Real Estate Europe Report recently released by Price Waterhouse Coopers and the Urban Land Institute ranked Istanbul, European Capital of Culture, number 1 in City Development Prospects in 2010.
property investment in Turkey has been attractive for a good few years now but a high percentage of the developments and marketing in the overseas property industry was focused on more holiday lifestyle homes on the Mediterranean coast and has investors from around the world.
This non eurozone country has benefitted from its warm climate, stunning Aegean and Mediterranean coastlines, low cost of living and ease of access to the UK with 73,000 overseas nationals (Turkish Statistical Institute) already calling Turkey home.
We would like to highlight that Turkey’s property boom is also due to rapidly growing cities such as Istanbul where the significant Istanbul property market deficit presents opportunity.
As Managing Director of Experience International, Steven Worboys, comments,
“The success of Istanbul’s property market is a simple matter of supply and demand. Due to the fast growth of the city (some 400,000 new inhabitants arrive each year to work or study) the existing housing stock has reached capacity. It is estimated that 250,000 new homes per annum are required until 2015 according to the Real Estate Investment Trust Association to meet the demand generated by foreign as well as domestic investment.”
Istanbul is now establishing itself as the economic powerhouse of Turkey, offering some of the most attractive investment opportunities available.
Crystal Heights Istanbul
Crystal Heights is an apartment tower of 337 luxury contemporary styled 1 & 2 bedroom apartments and duplexes and a great example of one of the latest and most interesting Istanbul property investment opportunities on the market. Investor can get involved for as little as a £13,500 outlay (fixed in sterling) when taking the 70% finance option. Crystal Heights provides a 7% p.a. guaranteed rental for two years protected on completion in 2011 through collateral from the rental management company. Average rental incomes in Istanbul are very good and because of high demand combined with the quality of the development investors can expect similar if not higher rental income from the properties after the first 2 years guarantee.
For information about Crystal Heights and to receive a complementry invester report please visit www.istanbul-property.com.
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