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Overseas Property News
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Istanbul property delight
Country: Turkey
24 March 2009 The market for properties in Istanbul is holding up well despite the global economic slowdown, according to Jones Lang LaSalle’s new report Istanbul Real Estate Overview. The property firm reports that the long-term prospects for the city’s residential property market looks good, with residential demand continuing to outpace supply. The report says that yearly requirements for residential units are set to remain at 250,000 until 2015 while supply is estimated to only reach 180,000 units per year, according to the Real Estate Investment Trust Association. Avi Alkas, chairman of Jones Lang LaSalle Turkey, said: “The residential market in Istanbul has undergone rapid development over the last five years, and market drivers remain strong, creating further room for continued growth. The city offers huge potential with an expanding middle class and their strong investment intentions, ongoing migration into the capital, as well as the need to replace the existing earthquake-vulnerable stock. The global economic downturn may result in a slowdown of some luxury residential projects in the coming years, but demand from the middle classes is expected to remain strong.” The shortage of available land in the centre of Istanbul has pushed up market prices, and forced residential developers to expand towards the city’s periphery. These emerging areas are being supported with planned transport links, while regeneration plans aim to move industrial production to the outskirts of the city to help the development of residential areas within the city centre. Alan Robertson, Managing Director of Jones Lang LaSalle Turkey, said: “The global economic slowdown has caused a modest correction in residential prices but on the whole Istanbul’s residential sector is proving more resilient compared to other major cities around the world. The population is projected to reach 14.5 million by 2015, creating an estimated 1.18 million extra households and this potential growth means that major developers are continuing with large residential projects. The city’s combination of size, scale and location, strategic commercial position as well as strong retail market will also enhance the residential sector’s potential over the long term.” Currently, the lack of an efficient mortgage funding infrastructure has caused an imbalance in the residential market. The greatest level of demand comes from the middle and lower income groups while private developers aim projects at upper-middle and top income groups due to high land prices. However, the mortgage market in Turkey is still in its infancy and shows strong potential for growth. Avi Alkas concluded: “Supported by the rising purchasing power of the middle income groups, there will be a substantial rise in the availability of mortgage loans over the coming years and this will cause market potential to enhance as the need for mid-range residential projects increases over the medium-term.”
See Also: Turkey
Some properties in Turkey
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Overview
This land has got an amazing bafa lake view .its our own land great investment opportunity or best place to build a villa.Located between Bodrum and Didim only 40 mins from airport and 20 mins from all amenities and town centre.
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Overview
This land located between Bodrum and Didim only 25 mins from airport and 30 mins from all amenities and town centre. Superb area to build your dream villa, you can also use our design and construct services.
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Overview
Great investment opportunity by bafa lake. Superb area for building your dream villa. This land 300 sqm, has got building permission which is ready to build. Stunning views of Bafa Lake,mountain and bodrum sea.220
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Overview
This land has got an amazing bafa lake and bodrum sea view.its our own land great investment opportunity or best place to build a villa.
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Overview
If you are thinking buying land to invest you are on right place. Great investment chance in popular resort yesiltepe (greenhill). squaremeters of lands from 300 to 900 and prices starts from 8.600.
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Price: £17,000
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Type: Apartment
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Bedrooms: 1
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Overview
Bargain properties in didim, This properties situated in didim, its only 50m from marina road where you can get minibus to town centre in couple of mins and to the beach front in 10 min.
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Price: £17,000
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Type: Apartment
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Bedrooms: 1
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Overview
Cheap apartments for sale in didim, This apartment has situated in central of didim, just of the main Ataturk Bouleward. Its walking distance to the didim town centre.
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Price: £18,000
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Type: Land
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Overview
Plot of land in Greenhill (Yesiltepe) very relaxing place. Superb investment chance ready to build for your dream villa. You can also use our design and construct service build your dream home. 300 sqm permissioned land ready to build.
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Price: £19,000
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Type: Apartment
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Bedrooms: 2
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Overview
Green apartment situated by the famous temple of apollon only 100mt from marina road and 30mt from the main road where you can get dolmush to get didim town centre and altinkum.
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Price: £22,000
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Type: Apartment
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Bedrooms: 1
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Overview
Altinkum apartments on the beach front. This apartments situated 100mt to the altinkum beach front, this is a well kept complex with swimming pool and security. This is an ideal apartment for just to have a holiday home in altinkum.
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