Surge in tourism from Arab nations linked to increase in foreign investment in Turkish property
- 30% increase in Qatari tourists to Turkey from 2013-14 (Turkish Airlines)
- Foreign property sales increase by 28% in comparison with 2014 (TurkStat)
- Istanbul agent sees 400% increase in sales to Arab investors, doubling Arabic speaking Salesforce (Universal21)
2015 marks the Year of Culture between Turkey and Qatar, an event to celebrate the cultural partnerships between Qatari and Turkish organisations, institutions and individuals. As the strong relationship between the two countries continues to develop, the General Manager of Turkish Airlines in Qatar confirms that Istanbul has now become a favourite tourist destination for Qatari nationals, with a remarkable 30% increase in the number of Qatari tourists who visited in 2014.
With over five direct flights a day between the two countries, Turkey is now an extremely viable holiday hotspot for both Qatar and many other Arab nations. The dramatic surge in tourism from Qatari nationals, as well as other Arab citizens, has had a positive effect on foreign investment in Turkish property. A statement from the Turkish Statistics Institute (TurkStat) last month highlighted that foreign property sales have increased by 28% since this time last year, with Istanbul being the most popular area of interest.
Monica Anca, Director of Universal21, the leading property agency in South-West Istanbul, comments further,
“As Turkey becomes more popular throughout the Arab nations as a tourist destination, prospective investors will be able to see the undeniable potential the Turkish property market has to offer. We have definitely noticed an increase in interest and subsequent sales to Arab investors, with our figures showing that they now comprise 25% of our total sales.
“2014 figures revealed that approximately 1 in 20 of our clients were from other Arab countries. This proportion has already inflated dramatically this year, with 1 in 5 clients now coming from Arab nations, an increase of around 400%. Currently 65% of our lead enquiries are coming from Arab nationals outside of Turkey and I believe that this trend will continue, with foreign investment becoming significant to the future of Istanbul’s property market.”
As the rising interest in Turkey’s property market, and specifically in the economic hub of Istanbul, continues to grow, so too will the demand for high quality investment opportunities. With an increasing number of Arab buyers seeking to become part of Istanbul’s appeal as a property hotspot, Universal21 has a range of property options available in order to meet this growing need in the market.
Universal21’s Anfa Life Residence, for example, is a masterpiece in construction, with finishes of the highest quality and located in the heart of Beylikdüzü, an upcoming district in Istanbul. With 13 floors of residential apartments, Anfa Life boasts a range of shops as well as an array of excellent facilities on the top floor, including a cinema, Hamam, spa, sauna, health and fitness club, cafeteria and a children’s play area.
Properties span one and two bedroom apartments, each luxuriously planned and taking full advantage of the space. All apartments are beautifully finished with high standard kitchens and granite-style worktops, with sunken spotlights throughout and with stunning bathrooms, ensuring that finishing standards for Anfa Life are one of the best seen in Istanbul, with special attention paid to all details, making them the perfect investment choice. Rental yields are up to 7%, with a 5-year rental guarantee, and prices for one bed apartments start at $102,000, with two bed apartments priced from $163,000.
We are also offering other developments more suitable for residential lifestyle, such as 3 bedroom and 4 bedroom apartments in quiet residential areas and Eco Friendly villas with up to 7 bedrooms, lake and sea views and a high standard of specification. We cater for most clients requirements, including assistance with residents’ permits for the whole family.
For more information on this and other investment options in Istanbul, contact Universal21 on 0203 287 8700, or visit www.universal21.com