09, December 2014: Real estate markets in Istanbul and Antalya have seen a surge in investment from a widening international market during 2014, with many expecting this trend to continue in 2015.
The number of foreign Turkish property purchases increased a staggering 66 per cent in the first 10 months of 2014 compared to the same period in 2013, according to the Turkish Statistical Agency (TurkStat). The two areas that draw the highest number of foreign buyers, which include a growing contingent of Middle Easterners, are Istanbul and the province of Antalya.
According to figures from Turkey’s State Airports Management General Directorate (DHMI), the four busiest airports in Turkey are Istanbul AtatÃ¼rk Airport, Antalya Airport and Istanbul’s Sabiha GÃ¶kÃ§en International Airport and Izmir’s Adnan Menderes International Airport.
So what attracts international purchasers to each? “In Istanbul most buyers want a convenient, modern apartment in an up-and-coming suburb of the city,” said Mr Walker of Spot Blue International Property. “A large proportion of our clients today are from the Gulf, and they invest in Istanbul property for lifestyle or rental investment purposes, or often both. The districts of Bahcesehir and Belikduzu are especially popular, not least because they’ve become fashionable hubs for more affluent Turkish people.”
Both Belikduzu and Bahcesehir offer a good selection of off-plan and newly built quality apartments, within gated complexes and with communal facilities, priced typically between $100,000 and $200,000.
Both districts are undergoing constant infrastructure development, enabling them to offer a comfortable Western lifestyle – new shopping malls, university campuses and exhibition centres can all be found there. While they already have good transport connections with Istanbul’s cultural and business districts, and the main Istanbul airport (Ataturk International Airport), future infrastructure upgrades will directly benefit both districts.
“Once complete, the third bridge over the Bosphorus, Istanbul’s third airport and the proposed new Istanbul Canal connecting the Black Sea to the Sea of Marmara should all have a huge impact on the districts,” added Mr Walker.
Meanwhile, on Turkey’s south-west Mediterranean coastline, Antalya is equally popular with buyers who prefer an urban environment, typically in the cities of Antalya or Alanya, and those who want to be in a holiday resort. Popular spots for second homes in the province include the beachfront areas of Alanya, Side, Belek and Kalkan.
As evidence of the province’s growing appeal, the number of tourists visiting Antalya between January and July 2014 rose by 3.63 per cent compared to last year, reaching a total of 6.735 million, according to the Antalya Culture and Tourism Provincial Directorate.
One in every three tourists arriving in Antalya during this period, namely 2.1 million, was from Russia — last year this figure was 1.8 million. Germans ranked second after Russians, with 1.417 million visitors to Antalya in the same period, slightly down on last year (1.424 million).
Antalya holds the world record for having the highest number of “Blue Flag” certified beaches in a given area. No fewer than 197 of the provinces’ beaches as well as six marinas have been awarded a Blue Flag, a voluntary eco-label issued by the Foundation for Environmental Education to beaches and marinas with high water quality, cleanliness and environmental standards.