Turkey's property market has enjoyed a stellar performance in 2014, driven by increased interest from Middle East investors.
A record-breaking year for tourism is set to continue the trend among international investors looking to speculate in the holiday-home market, with Istanbul's suburbs rising in appeal, particularly for Middle East buyers.
Property investors from Kuwait, Saudi Arabia and the UAE are particularly interested in modern apartment developments in Bahcesehir and Belikduzu, according to Spot Blue International Property.
"A large proportion of our clients are from the Gulf region and most want a convenient, modern apartment in an up and coming suburb of the city, which they treat as a lifestyle or rental investment," said Spot Blue's director Julian Walker.
The two suburbs, Behcesehir and Belikduzu are up and coming areas, having become fashionable hubs for more affluent Turkish people, making them popular investment hostpots.
Both areas have been the focus of regeneration and new construction as part of Turkey's commitment to infrastructure and new home development. Apartments are available to investors on an off-plan basis and are of the highest quality, within gated complexes, enjoying communal facilities. Priced within €80,000 and €160,000, the new homes suit the requirements and budget of typical Gulf investors.
Belikduzu has the most number of shopping malls in Istanbul including, Marka City, Surmen Centre, Beylicium Shopping Centre and the Migros Shopping Centre. Bachesehir is home to the Akbati Shopping Centre and the Prestige Mall. Retail infrastructure provides increased employment opportunities locally, driving property prices higher.
Bahcesehir, literally translated means 'Garden City' and has extensive green spaces. The suburb has been designed around one of the largest man-made lakes in Turkey together with parkland offering a selection of outdoor leisure facilities, including horse-riding and golf.
Istanbul's suburbs have much to offer
The two suburbs both show consistent demand for rental properties, including university accommodation. Two hospitals, the Kolan and Medicana, are located in the area with a significant number of staff requiring accommodation close to their place of work. Additionally, there is also Turkey's largest exhibition centre, the Tuyap, attracting thousands of delegates and visitors each year.
With continued expansion in its regional infrastructure, Istanbul's suburbs have much to offer savvy investors prepared to look beyond traditional resort areas for excellent capital appreciation and rental yields.
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