Property Grand Prix - Istanbul
Monday, May 12th, 2008 
Posted by OP-Mall in 
Judging by this years Formula 1 events so far, the boys in red are in top form with yet another win over the weekend in Istanbul.
Felipe Massa won his second race this year, out of 5 races so far and Kimi Raikkonen collected another 6 points for his team coming third. While Lewis Hamilton was forced to deal with a three stop tyre change due to last years dramatic tyre failure during the Turkey Grand Prix, it made it hard for him to beat the red team fair and square, but he still took home second place which is considerably impressive given his extra stop.
Kimi Raikkonen had his own fair share of action when he and his compatriot Keikki Kovalainen had a run in on the very first corner. It resulted in a tyre puncture for Kovalainen and a broken front wing for Raikkonen which he carried all the way through the race.
The end result was another clear win for Ferrari:
- Felipe Massa (Ferrari)
- Lewis Hamilton (McLaren-Mercedes)
- Kimi Raikkonen (Ferrari)
If you missed out on our former property grand prix posts, here they are again.
- The Australian & Malaysian property Grand Prix
- Bahrain property Grand Prix
- Spanish property Grand prix
The Istanbul property front is sizzling hot!
As you probably know by now, the ban on foreign property investment in Turkey has now been lifted which will allow investors to see Turkey as a real playing field again.
With an estimated tourism influx of some 28 million this year, the property market in Turkey is considered very favourable amongst investors and Realtors alike.
Turkey is a favourite for many UK tourists since it is easy to reach, cheap and sunny. The conditions in Turkey are ideal for hyper stressed tourists and with property prices to match a strong interest, it is no wonder that the market is considered hot. But the real sizzle is happening in Istanbul, Turkey’s charming capital and overall number one spot for property investors all across Europe and beyond.
Istanbul has long enjoyed a strong market with many off plan residential and commercial projects for sale right now. While Turkey is an overall hot spot, it is really Istanbul that steals the show with plenty of development and attraction for property investors and developers.
While in the past developers have targeted the middle and upper class investor in Istanbul, today things have changed with many projects on the burner for lower priced property. Some 20 developments are being built as we speak in Istanbul, targeted at the lower income buyers’ market. Most of these will be completed between 2008-2010. Residential units as low as 520 Euro/sqm are offered which makes them particularly attractive to buyers from all over Europe.
Investors looking for an affordable holiday property in Istanbul now have many options to enjoy one of the fastest growing economies in Europe with a strong estimated GDP. As Istanbul reinvents itself as a modern and growing urban metropolis, more demand for retail, residential and commercial development creates many new jobs.
UK’s Country Life ranked Istanbul as the number one development market prospect in March this year and the second best investment city besides Moscow in all of Europe.
The future of Istanbul has been considered very bright and the big hotel chains as well as some of the main financial institutions have already acted on this rising trend and started to build a foothold in Istanbul. With just a few hours flight from the UK and the rest of Europe, it is no wonder that Istanbul has made its mark on the property investor map. Great food, friendly locals and an attractive nightlife all help to further the popularity of this amazing city.
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This entry was posted on Monday, May 12th, 2008 at 1:06 pm and is filed under Turkish Property. You can follow any responses to this entry through the RSS 2.0 feed.
