Date posted: 4th of December 2014
As Turkey's largest city Istanbul grows in International importance, it is being tipped to be the new regional financial centre controlling Europe and the Middle East. Good news for all European investors seeking to diversify their portfolios and invest in the best markets!
Reports as of late indicate that Istanbul, Turkey is slated to become the newest financial centre of Europe and the Mediterranean. This bodes well for England in particular, as the country's diplomatic and trade relationships with Turkey are already robust and are sure to only strengthen with Istanbul as the financial centre of Europe. This news comes just as Alderman Roger Gifford, London's Lord Mayor, is embarking this week on a diplomatic assignment to Turkey in order to provide political encouragement from the UK in support of Istanbul's financial and business developments.
Turkey's economic growth in recent years has been unparalleled by almost any other country on the globe, and in addition to Turkey's success with business, finance, and industrial development, the country is supporting a flourishing real estate market too. These advances are promising news for anyone looking to invest money or purchase property in Istanbul, Turkey
, and the support from the UK will foster even better diplomatic international relations between the two countries.
Although there is still much to be accomplished, and Istanbul cannot become Europe's financial centre overnight, Lord Mayor Gifford's diplomatic voyage is aimed at achieving certain benchmarks incorporated into the goal of supporting Turkey's efforts. With the 18th largest world economy and Europe's seventh-largest economy, Turkey shows much promise for financial investors and those interested in real estate. The country will only continue to grow, so to ignore the possibilities there could be devastating. That is why Lord Mayor Gifford wants to show that the UK values Turkey's economic growth and wants to use the UK-Turkey alliance to benefit the countries involved.
Support for Turkey will not come from afar, however, as Gifford is aiming to show how London companies can provide assets, like dispute resolution and educational training, that will aid Istanbul's growth when they are utilized. London is already well known as a top European financial centre, so the knowledge and experience bases of that city will undoubtedly assist Istanbul as the financial centre of Europe. This reciprocal arrangement is likely to greatly enhance the country's financial markets, and with that, real estate in Istanbul, Turkey is going to become a prime way for investors to take advantage of the economic growth of the country. It will be critical to watch for the next several years, but wise investors will start looking to plant their feet in Turkey as soon as possible.
Turkey's economic and social future appears to be very promising, and the assistance from London companies will surely allow Istanbul's growth to skyrocket. This current situation presents a perfect opportunity for European investors of all levels of expertise to enter the Turkish market before things could possibly become prohibitively expensive. One of the most prudent methods of making an investment is to purchase property in Istanbul, Turkey. Think about it: as Istanbul becomes a financial hotbed and businesses and companies begin to proliferate in the city, property values will increase. There will be a greater demand for workers, and real estate properties may also become scarce for a time until developers construct new dwellings. These scenarios present a perfect opportunity for anyone to invest in Turkey and take advantage of the inevitable upswing that will occur with economic growth. Plus, who wouldn't want to own property in a city as beautiful as Istanbul?
Less than a month ago, Istanbul was ranked as the fourth-best European city in terms of how promising the property market is. Although in the past it has ranked first on the list (twice!), the slight decline in ranking this year may render the next coming months a prime occasion to purchase real estate in Istanbul, Turkey. Istanbul is not under-the-radar when it comes to property investing, but the drop in the list may be enough of a distraction to draw attention away from the city for the time being, until Lord Mayor Gifford’s efforts begin to take hold and Istanbul is in the spotlight once again. Any sensible investor knows to invest when the market is at a lower point, and it is practically guaranteed that Istanbul is going to continue growing, so why not jump in now?
Purchasing Turkish real estate is the easiest, and one of the most profitable, ways to enter Istanbul's market before it becomes the next London and prices become outrageous. Non-Turkish nationals are able to purchase property in Turkey too, and the process is not all that difficult. A few key pieces of paper and some tax money are all that separate many people from purchasing land and homes in Istanbul, so it's wise to look into the process and begin to develop a greater understanding of it if a real estate investment is what you're after. Currently, beautiful properties can be found throughout the city for reasonable prices. But who knows how long that will last after more people hear about this latest news of Istanbul developing into a budding financial centre.
Knowing that British diplomats are making a concerted effort to propel Istanbul to the top spot as a financial centre, it isn't going to be likely that Turkey will experience a downturn anytime soon. In fact, there is even a timeframe for this entire process: by 2015, trade between Turkey and the UK will be doubled, and by 2023, Istanbul will become a top-ten financial centre. These goals are concretely outlined, creating a recipe for success for Turkey's largest city. The vast amount of expertise involved in this transaction is extremely promising for the financial world. Istanbul, London, and all of Europe alike stand to benefit from this arrangement, and you can too, but only if you choose to make a wise investment. Although we can't say for sure what the future is going to hold, it certainly looks bright. It's time to put on your sunnies and start working on your next investment!