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For Turkey, and its midfield maestro Istanbul, the positive press in terms of how important it is as an investment location, just keeps coming – and it’s showing little sign of easing up.

Turkey will be the “hot spot of hotel investors”, according to experts speaking at the Central Asia and Turkey Hotel Investment Conference this week, the Hürriyet Daily News reported, and when you consider that it will be home to one the fastest growing markets in the world over the next ten years, you can see why property in Turkey is causing a stir.

But, while nothing is certain in the world of global property markets, it would seem that, some experts believe Turkey could hold the key.

Graham Flaherty, property sourcing and marketing at Istanbul Property Investment, explains that alongside Turkey’s rise in profile for the investor is Istanbul, and being labelled as the City of Culture for 2010 has done it no harm.

He says: “Achieving the City of Culture label for 2010 has helped Istanbul immensely. It is often connected with growth, prosperity and development, which are three buzz words for keen property investors.”

However, Istanbul is also soon to be home to a prestigious new science and technology park, which will eclipse many of its Middle East and Eastern European peers. Teknopark Istanbul is a crucial development for the city, not just in terms of the jobs it could create, but also in terms of the corporate travellers it could attract, Big business is essential for cities if they want to progress and develop, and with blue chip organisations like Coca-Cola and Ford using Istanbul as bases, it would appear this City of Culture will be attracting business and their employees long into the future. Backing this theory up are statistics from STR Global, which reported that occupancy levels of hotel rooms in Istanbul took a hit back in 2009, when they fell from 72.8% to 63.5% (STR Global), but have since bounced back to their pre-recession best at 71.8%. Importantly, both Turkey and Istanbul are finding value in satisfying this demand for hotel space, with developments like The Elite Perla Palace being built close to the transport links and close to the business centre.

Istanbul Property Investment’s Flaherty adds: “With occupancy levels up, property in Turkey and Istanbul in the form of a hotel room are growing in interest for investors.” Under a hotel room purchase an investor buys a unit and then allows a management company or developer to rent out that room throughout the year.

In truth, it is very difficult to predict how an economy will pan out and how effective it will be in providing a good return on investment. However, with visitor numbers up, businesses flocking to Turkey and Istanbul, and hotel room accommodation rising once more, it would seem that this is one location that many would not want to bet against.

Article by Istanbul Property Investment

Source: http://www.istanbulpropertyinvestment.com