Commercial property in Turkey is fast becoming a must-have for those wanting to have a slice of the pie in one of the fastest growing economies in the world. Despite terror problems over the last couple of years seen worldwide Turkey remains a stable and viable investment option and it is predicted that it will continue to see a steady growth rate of 4% until at least 2020. Investors snapping up commercial and lifestyle property include buyers from the Middle East mainly buying in Istanbul because of the uncertainty of political shifts in Europe. The most popular area for commercial investment is, of course, Istanbul, although Istanbul is no longer the capital of Turkey that crown goes to Ankara, Istanbul is the hub of Turkey and it is growing every day. There are two new cities that are being created within the Marmara region, the 3rd Bosphorus Bridge is being built, Istanbul’s third and world’s largest airport is being completed and Istanbul will also be one of the world’s financial trading centres (like London and New York). Istanbul is a strong candidate for the 2020 Olympics with the city poised to be a giant tourism city for worldwide visitors. Istanbul saw around 10 million visitors in 2016 alone and is expecting a bumper year this year, with the major airlines increasing their seats to Istanbul and destinations across Turkey. Investors are taking this opportunity to look to Istanbul for buying commercial property such as hotels, office buildings, commercial units, restaurants and commercial shops which are littered throughout the city.
The infrastructure is second to none with excellent transport links to its two existing International Airports, Ataturk Airport which is located on the European side and Sabiha Gokcen airport located on the Asian side. The third International airport is located in the Arnavutköy district which is on the Black Sea coast on the European side of Turkey and just 22 miles from Istanbul and as already stated will be the largest in the world. There will be no less than 6 runways and flights to 350 destinations across the globe with a reported 200 million annual passenger capacity, it is planned to be in full operation by 2028. This airport will serve as a gateway to Turkey with excellent transport links of rail, metro and bus services and the new airport will be Turkey’s primary airport and a hub for connecting flights between Europe and Asia.
This is the time to buy commercial property especially in Istanbul and with the leafy districts of both Yalova and Bursa being on Istanbul’s doorstep you can easily work in Istanbul and commute home if you don’t want to live in the city. The infrastructure is very well developed the road links are excellent between Yalova, Istanbul and Bursa and with a regular ferry service to makes all areas easily accessible. The quickest and easiest way to reach Yalova from Istanbul is to take the fast ferry service, fast ferries operate from Yenikap? (south of Sultanahmet) and the voyage takes just 70 minutes its ideal for commuting to Istanbul every day. Bursa is an ideal location as it’s close to Istanbul and the recently opened Osmangazi Bridge dramatically cuts the travel time between Istanbul and Bursa from two and half hours to just over an hour making Bursa a popular location to live for city workers in Istanbul.
It’s not only Istanbul that has some great commercial properties for sale, popular resorts such as Kalkan, Bodrum and Antalya and other established resorts have commercial properties available such as apartment blocks which are ideal for holiday rentals. As Turkey sees around 42 million holidaymakers and tourists visit, this becomes a lucrative investment recouping your initial investment via rental returns.
This year is expected to be a good year for Turkey in general with holidaymakers booking holidays in their thousands and as rental properties are increasingly becoming the favourite method of accommodation it's a wise investment to make. Turkey is fast becoming a year-round holiday destination as the summer sees holidaymakers, visitors and tourists flock to their favourite resort destinations and Turkey is now seeing an influx of visitors during the winter months with its favourable weather and its up and coming ski resorts. There is another lucrative commercial investment in the waiting, skiing is becoming more popular and why would the residents of Turkey visit other ski locations when it’s all on its own doorstep? Invest in commercial property in Turkey today it’s a wise investment.