Posted on 05 June 2009
Today is practice day of the fifth Turkish Formula One Grand Prix in Istanbul Park. Though it is not necessarily associated with property, Formula One bringing its prestigious races to Istanbul in 2005 did push property values up in the areas around the circuit.
Now the Turkish Grand Prix is an established part of the global sport, this growth will continue after the international downturn is a distant memory.
It is easy to see why the Grand Prix adds to property values: during these three days the Turkish F1 Grand Prix is another massive arm of Turkish tourism as people flock in from all around the world to see their favourite drivers, owners of property around the circuit can charge a pretty penny to eager F1 fans looking for a place to stay.
Then there is the fact that property in Istanbul, while more expensive than most other place in Turkey, compared to other F! Grand Prix hosts within short-haul destinations it is relatively cheap. This makes Istanbul a firm favourite with the most avid of Grand Prix fans.