_{Monday 1st March 2010}

With Istanbul crowned the European Capital of Culture 2010, the city is tipped by property experts Experience International to be the property investment hotspot of Turkey this coming year.

Turkey has enjoyed significant growth over the past few years with tourism continuing to grow and the government redeveloping areas to attract tourists and investors alike. The country’s position outside of the eurozone is attracting more investors than ever before with the low cost of living and bargain prices being further driven down by vendors to tempt the tourists.

It is now estimated that around 73,000 individuals from overseas now call the coastal towns and cities of Turkey home. The country could potentially become more popular than more traditional countries such as Spain.

Istanbul will be trust into the limelight this year with more holidays scheduled from the UK and more property investors seeing the potential the city holds for them. Rental yields of 7%-10% are currently being witnessed with demand for property exceeding supply.

Steven Warboys, Managing Director of Experience International believes that investing in Istanbul is potentially a great move for investors.

“The success of Istanbul’s property market is a simple matter of supply and demand. Due to the rapid growth of the city the existing stock has reached capacity. It is estimated that 250,000 new homes are required by 2015 to meet the demand generated by foreign and domestic investment.”

As with other areas of Turkey, purchasing in Istanbul is straightforward with no restrictions on foreign ownership of property and up to 70% mortgage finance available. Capital growth is currently estimated at 15% and rental yields of up to 10% per annum expected.

The town of Beylikduzu is located within Büyükçekmece county on the European side of the Bosphorus, is where the new Crystal Heights apartments and duplexes will be constructed by Experience International. Crystal Heights holds a strategic location close to the two major motorway routes into central Istanbul and just 20 minutes from Ataturk International Airport. The development is also just 10 minutes from the seaside resorts situated close to the city.

Crystal Heights offers a 2 year rental guarantee of 7% p.a. which is bank bonded on completion of purchase. Prices remain affordable with apartments in Crystal Heights available from £45,000.

For more information about Istanbul and this unique climate in world real estate please contact Experience International on 00 44 (0) 207 321 5858, or visit www.istanbul-property.com

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