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TURKEY - new investment opportunities - FROM 3000 PLN/sqm.

Thursday, 19 June 2008

TURKEY - new investment opportunities - FROM 3000 PLN/sqm.


On the Investor Club website there is a new investment location. Five Towers is a new apartment complex located in one of the world's largest cities - Istanbul.
The project recommended by Investor Club will be an attractively located property aimed mainly at people looking for elegance and luxury for high-level living. The fundamental advantage of this development is its low price per square meter, thanks to which prices for units start at around PLN 150,000. There are also very good forecasts for increases in property prices in the region.

Here is why we think that Five Towers is an attractive foreign property investment opportunity:

Turkey is a country with a population of 70 million people with very good economic and demographic forecasts. This country spanning Europe and Asia has very good economic and demographic forecasts and has been qualified to the group Next 11, which after 2050 is forecast to compete with global economic powers belonging to G7 and BRIC. Currently, the country is number 1 on the list of many British investors. We particularly recommend the largest city in Europe, Istanbul, which is at the same time the last city in Europe with such low property prices.

The Turkish property market competes with others in terms of its low prices and growth prospects. Turkey's housing deficit is approximately 4.3m units, while half of the current stock is not fit for long-term use.
This market's investment attractiveness stems from the basic factor of the growth prospects for the price of properties, which foreigners have been able to buy now for a few years.
Istanbul, where the investment is located, is the largest city in Turkey and one of the largest cities in the world as well as being the biggest agglomeration in Europe. Despite past destruction, the city boasts priceless heritage sites from the Byzantine and Ottoman periods, which attract droves of tourists every year from all parts of the world. This brings with it a huge opportunity in terms of future rental profits and eventually selling an apartment.
The complex is comprised of 5 soaring towers all containing studio flats as well as 2, 3 and 4-room apartments. Large areas of retail space have also been designed in the towers, which will be home to shops and shopping centers. The prospect of price increases is influenced by the development's location in one of the fastest growing areas of Istanbul, Buyukcekmece, which is a district with a lot of business, tourism and cultural potential. The city centre can be reached by bus or ferry and also by car. Yesilkoy Ataturk airport is just a 30-minute drive away.
An important element increasing the attractiveness of the investment and also affecting the surroundings are planned on-site facilities such as a swimming pool, sauna, fitness centre, aerobics studio, basketball and tennis courts, numerous restaurants and cafes all having a positive effect on the attractiveness and prestige of the project, and eventually on returns from renting and selling an apartment.
Despite the high standard of the investment, buying an apartment in Five Towers can cost as little as PLN 150,000 (depending on the value of the Euro). The reasons for this are not just the unusually low property prices in Turkey, even around 3000 PLN/sqm., but also the small size of available properties. Thanks to this, investing in an apartment in Five Towers can be made for quite a small amount of money.