(PRWEB UK) 14 November 2012
Fortunately, according to Colordarcy investment analysts, there is still a place on the continent where investors can get the best of what’s to come now and avoid having to endure, poor returns on their savings and gloomy news about property markets. That place is Istanbul or more specifically Istanbul property
Loxley McKenzie, Managing Director of Colordarcy commented “There are of course bad areas away from the centre as with any other city, however there are also certain micro-markets that are growing at a furious pace at the moment. These are driven by foreign investment, local demand for property in good areas and a strong, growing national economy, to which Istanbul, like London in the UK, contributes the lion’s share of this economic growth.”
Colordarcy highlights that areas such as the super suburb of Beylikduzu have been a property investors dream in recent years with prices rising 30% from off-plan to completion within a period of just 18 months. Not unusual in a city that has seen a doubling of the prices per square metre from £1,244 to £2,800 in 7 years. (Source: Gyoder)
Unlike most many established European economies like France, Spain and Italy, even the credit ratings agencies are starting to notice the potential of Turkey and this is largely due to the emergence of Istanbul as one of THE places to invest in Europe.
Fitch lifted Turkey’s long term currency debt to BBB- from BB+ (Source Bloomberg November 2012). This is significant, given the ratings agencies harsh treatment of Turkey over the years. If even the ratings agencies are taking notice, then this is a clear indication that Turkey must be getting its act together.
Can the same thing be said about the banks?
McKenzie added, “Keeping money in a bank account these days is more likely to lose investors’ money to the silent killer – inflation. The point is, if someone offered an investor 10% on their money every year and another 7% on top, the answer is unlikely to be that they would prefer the 2.5% or possibly less offered by savings in the bank.”
Notes to the editor:
Colordarcy is a leading property investment company that specialises in finding positive cash flow investment properties worldwide. Colordarcy investment property portfolio includes some of the best properties for sale in Brazil, Florida, Turkey and the United Kingdom.
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