Why Today’s Istanbul is Attractive to Non-Resident Turkish and Arab Investors
London (PRWEB) September 28, 2014 -- Turks and Middle Eastern citizens based around the world, including the Americas, who are looking for global investment opportunities could be missing out by not considering modern-day Istanbul and wider Turkey, said Turkey property specialist Spot Blue International Property in September.
“In the USA alone there are an estimated 500,000 Turkish Americans,” said Julian Walker, director at Spot Blue International Property. “Some – descendants of emigrants -- may never have visited Turkey, while those that have may have lost touch with how things have developed there in recent years, both commercially and in terms of infrastructure. Travel links between the USA and Turkey have improved hugely, thanks largely to Turkish Airlines, while arriving in Istanbul with dollars to invest puts you in a strong position.”
Recent statistics highlight Turkey’s growing attraction to foreign investors, in particular as an alternative to Europe, which is historically seen as a safer option. Statistics from the Turkish Statistical Institute confirmed that the country’s economy grew by 3.3 per cent during the first half of 2014, after GDP rises of 4.7 per cent and 2.1 per cent in the first and second quarters respectively. According to the Central Bank of the Republic Turkey, Turkey attracted $6.8billion worth of foreign direct investment (FDI) in the first half of 2014, representing a 28 per cent hike compared to the same period in 2013. Of that, real estate purchases by foreigners accounted for $2billion, while the European Union accounted for 68.1 per cent of FDI, worth $3.6billion.
“These latest positive statistics are especially poignant as they come at a time when a negative vibe has returned to economies in Europe, making Turkey a more attractive option for international investors from outside Europe,” said Mr Walker at Spot Blue International Property. “According to the Markit Composite Purchasing Managers’ Index, business growth in the Eurozone cooled in September for a second consecutive month, falling to its slowest pace since December.”
Foreign investors welcomed commentary from the fifth Istanbul Finance Summit held in September, which brought together leading finance experts from around the world. With its regulated markets and structure, Istanbul was labeled a candidate to become a global financial center, according to renowned international economist Cornelia Meyer. Turkey was again in the global investment spotlight at the Cityscape real estate exhibition in Dubai, where it had the largest pavilion of all foreign exhibitors and the highest number of exhibitors after the host nation the United Arab Emirates.
Meanwhile, in June this year Turkish Airlines added its tenth route between Istanbul and the Americas. Turkey’s national carrier now flies to Buenos Aires, Sao Paulo, Toronto, Chicago, Houston, Los Angeles, New York, Washington and Boston.
Spot Blue International Property has a range of property for sale in Istanbul and in major resorts on the Turkish coast, suitable for all types of investor. For more information, visit http://www.spotblue.com.
For further information or to enquire about selling property in Turkey through Spot Blue, please contact:
Julian Walker
Spot Blue International Property
Tel: +44 (0)20 8339 6036
Email: info(at)spotblue(dot)com
Website: http://www.spotblue.com
About Spot Blue International Property
Spot Blue International Property is one of the UK’s leading Turkish property agencies, with hundreds of properties regularly listed and updated on its website, http://www.spotblue.com. As well as helping developers promote their projects to the UK and other foreign markets, http://www.spotblue.com features properties for sale by private individuals. Spot Blue only promotes property of developers that pass its due diligence assessment. It also specialises in matching buyers with suitable properties and operates in all major resorts in Turkey. The company’s high profile in the UK means it is regularly quoted in the national press and invited to appear on panels at leading seminars and exhibitions.
Julian Walker, Spot Blue International Property, +44 208339 6036, [email protected]
Share this article