Signs of Recovery in the Turkey property market

by Charlotte Ashton Turkey

Turkey’s economy and real estate sector, though affected by the global economic slowdown, have held up well compared to others in Europe thanks in part to strong local demand and low exposure to international credit markets. The country’s solid economic performance was confirmed by a recent upgrade of its credit rating by Standard & Poor, with an analyst from the global ratings company commenting: “Turkey’s banking system is one of the strongest and least-leveraged in Eastern Europe.”

 
Official figures indicate the start of a recovery in the real estate sector with home sales up 25% in 2009 compared to a year earlier.
“This is promising news particularly as the property market in the coastal resorts will be kick-started by what is expected to be a record-breaking tourist season, with over 30 million visitors attracted by the country’s beautiful coastline and excellent value-for-money,” comments Dominic Whiting, editor of the Buying in Turkey guide, www.buyingin.co.uk
New air-routes from across the UK, a rapidly improving infrastructure and its position outside the Eurozone, will further promote Turkey as a top destination for British property buyers this summer.
Dominic Whiting continues: “Location and quality remain of key importance. Buyers should be looking for property in the best areas, which represents a solid investment as the market bounces back. It will remain a buyers’ market for the time being, with some excellent deals to be found, though I expect this to change as the slack is taken out of the market over the next 12-18 months.”
 
 
Top property tips:
 
Akkaya Gardens, Dalaman
Stunning award winning 2 and 3 bedroom apartments found in the unspoilt mountains of the Akkaya region. Prices start from £61,200 and only two apartments remain, ready for holiday use or rental from May.
 
Olive Grove Apartments, Akbuk
On the edge of this quiet resort backed by mountains, spacious two bedroom apartments and duplexes with large balconies overlooking a large pool. Excellent sea views. From £54,950.
 
Villa Lauren, Fethiye
2/3 bedroom duplex apartment in Ovacik, near famous Oludeniz lagoon. Fully furnished to a very high standard and with over £5,000 confirmed rentals for 2010 season. £75,000.
Lakeview Bungalows, Akkaya
Spacious 3 bedroom bungalows in Akkaya Valley in The Hills development from only £143,000 – £171,000. These properties are set in extremely generous plots, each benefiting for a kidney shaped pool and landscaped gardens. Excellent value properties.

For more details contact Buying In Turkey collection on 0845 351 3551 or visit www.buyingin.co.uk

Saying “I do” to the stunning region of Calabria, Italy

by Charlotte Ashton Italy

 

Italy is viewed by many as the land of love, frequently topping charts as the most romantic destination in the world. With its cities boasting some of the worlds most amourous architecture and lush landscapes encapsulating rustic romantic, it is not surprising that more and more couples are choosing Italy as the location for the biggest day of their lives.
 
For partners Tom and Paul from Ireland who relcoated to southern Italy in 2009, the charming region of Calabria is the perfect location for couples to celebrate their love. Paul explains.
 
“The Pizzo area of Calabria where we purchased our two bedroom apartment has a real Italian community atmosphere and we are inspired so much by the region that we now encourage others to come out here to experience the land, culture and even consider getting married here.”
 
Steven Worboys, Managing Director of overseas property experts Experience International whom the couple bought their property through goes on to say:
 
“From 2006 to 2009 the average UK wedding cost rose by 8% to a whopping £20,000 so no wonder more and more couples are looking abroad for their big day. Italy offers a dream location which is often much more affordable, it is no surprise that up to 50,000 couples now get married abroad each year.”
 
The increase in numbers choosing to marry abroad has also positivley affected local tourism and property rental markets such as that in Calabria due to the demand for accomodation from not only the wedding party but also family and friends. An encouraging sign for those who own properties for rent in the area.
 
Now that Tom and Paul have said “I do” to a new life in Calabria they have embarked upon an exciting business venture offering wedding planning services to couples looking to marry in the region, as Tom says, “it’s all about helping inspire, plan and facilitate the big day.
 
“Being based in the country and having been given invaluable advice by the team at Experience International in terms of location we are now in a position to help others seek the perfect location for their wedding. Here are our helpful hints:
 
  1. Location – Although choosing to marry abroad is becoming more popular we would recommend couples come and get a feel for the Pizzo community and surrounding areas before committing. Budget flights are available from the UK direct to Calabria year round.
 
  1. The Venue and Accommodation – Calabria is indeed opening up to tourism yet new construction is strictly zoned and controlled to avoid overdevelopment. Accommodation options vary from guest houses to hotels but we recommend the flexibility of private apartment and villa rentals and to book well in advance.
 
  1. Ask for help – Employing a local coordinator who can facilitate your needs may seem like an unnecessary cost but with local custom and language barriers this in our opinion is essential for a stress-free experience.
 
  1. Plan ahead – If you desire a church wedding then the venue may need to be booked 12 months prior to the day. There are other options such as civil service although up to 4 months notice is also required for the necessary paperwork.
 
  1. Set a budget – As you would with a traditional wedding in the UK set a realistic budget and stick to it. Contact local supplies to research costs and work with your coordinator to secure the best deals. 
 
 
So if this has got you inspired to have your wedding abroad and you would like further information on planning a wedding in captivating Calabria contact Paul and Tom at their company Calabrian Management Services www.calabriamanagementservices.com.
 
If in equal measure you are even inspired by Tom and Paul’s story and would like further information on buying a second property in the region just visit www.experience-international.com or call +44 (0) 207 321 5858.
 
 
 
Editors Notes:
 
Portoada Park, Pizzo, Calabria, Italy
Situated close to the towns of Pizzo and Tropea, only 13km to Lamezzia International Airport and 15 minutes from the local marina, Portoada Park enjoys a privileged location. The development offers two communal swimming pools, a tennis court, pedestrian friendly neighbourhood with up to 7km of walking and jogging trails through the forest and only five minutes walk to the beach. The semi-detached 3 bedroom, 2 reception and 1 bathroom villas start from only £253,481 / €279,534; contact Experience International today on 0207 321 5858 or visit www.experience-international.com for more information.
 
Borgonovo, Calabria
The stylish resort of Borgonovo is just 15 minutes from Lamezia International Airport and located in the desirable Pizzo. One and two bedroom apartments and two bedroom penthouses are available, with one bed apartments from €78,550, two bed apartments from £88,502/ €112,051 and penthouses from £108,003/ €136,742. For more information please contact Experience International free on +44 (0)207 321 5858 or visit www.experience-international.com.

Look through the key hole to the wonders of Nice

by Charlotte Ashton France

With the recent nationwide release of Tim Burton’s Alice in Wonderland on the 5th March all eyes have been on Johnny Depp. Details of where a celebrity of such stature eats, works, and lives are all of great fascination to the general public especially when they hit our screens in a multi-million dollar movie. It comes as no surprise that as Depp bursts into the limelight again we are all intrigued by his choice to spend a lot of his time in between jobs in his family home just across the channel in Nice, a desirable property hotspot in the South of France. Living with his wife and two children and sharing the famous region with stars such as Elton John and world wide events such as The Cannes Film Festival it is great to know that a location popular with many Brits for over 100 years is also favoured by the A List celebrities.

Nice is easily accessible from the UK, although if one has a private jet this would never be a problem, and the climate, ambience and leisure activities offered in the area ensures a real ‘adventure in wonderland’ whenever you choose to visit. For those looking to invest in prime real estate, apartments are available on the Promenade des Anglais from as little as €178,000 for one bedroom, €228,00 for a two bed and stretching all the way up to €1,580,000 for a top of the range luxury 3 bedroom suite. All apartments on ‘The Prom’ have one thing in common and that is the fabulous vista across the med.
For more information on buying or letting an apartment in Nice contact please contact Agence 107 Promenade on 00 33 4 93 44 83 83, email contact@107promenade.com or visit www.107promenade.com. 

150 Reasons to Buy In Nice

by Charlotte Ashton France

One might wonder how the Patron Saint of Nice was and is still today Saint Rita – not a terribly Francophile name by any stretch of the imagination. Well Saint Rita was in fact Italian and became the patron Saint of Nice and of Hopeless Causes in 1543.

Known at that time as the Niçois, the mighty Italians used the hapless Rita – an unknown and common laundress – to frighten off the advancing Turks.   Rita, as the story goes, was of ample proportions and really not a great beauty. The macho Italians made her climb a ladder above the parapet and display her wares to the shocked Turks who graciously turned tail and went home.
Nice remained Italian until 1860 when the Italian King sold Nice to Napoleon III in exchange for financial and military help. The Niçois were allowed to vote so there would be no repercussions about being ‘sold down the river’.  The voting booths were manned by units of the French army and this may well have affected the outcome which saw 99% of the population voting in favour.
It was around about this time that the English ‘discovered’ Nice for themselves and we have been madly passionate about this slice of France ever since. The wealthy English arrived in their droves, building homes, hotels and churches. It was THE place to be seen and the French very kindly extended the railway on from Marseille to reach Nice ensuring even more well to do Brits could enjoy the Riviera and take a stroll down the Promenade des Anglais.
So this year Nice is celebrating its 150 years of ‘Frenchness’ by putting on 150 special events over the summer. Kirkor Ajderhanyan is the MD of Agence 107 Promenade and he told us, “The major has announced the celebrations. It is to be a festival of community spirit and they are hoping to get all the patrons of Nice to roll up their sleeves, spruce up their districts and meet the neighbours. There will be some wonderful cultural and sporting events in the summer and we are expecting tourists from all over the world to come and attend.”
Kirkor goes onto say, “Due to the high volumes of people descending on Nice we are expecting an upturn in both property sales and rentals – particularly on the Promenade where it is usual for most of the excitement to take place. Many of our luxury apartments have the most tremendous views of the Promenade des Anglais and they are the envy of the city on high days and holidays like these”.
Apartments are available on the Promenade from as little as €178,000 for one bedroom , €228,00 for a two bed and stretching all the way up to €1,580,000 for a top of the range luxury 3 bedroom suite. All apartments on the promenade have one thing in common and that is the fabulous vista across the med.
For more information on buying or letting an apartment in Nice contact please contact Agence 107 Promenade on 00 33 4 93 44 83 83, email contact@107promenade.com or visit www.107promenade.com.
— ENDS —
On the market:
Promenade des Anglais, Nice France
A truly spectacular apartment situated on the sea front of Nice and offering you a magnificent living space of 81m². This apartment has been very tastefully decorated, has a beautiful kitchen and bathroom, 3 bedrooms and a living room opening out onto a spacious terrace.

The asking price is €685,000. For more information please contact Agence 107 Promenade on 00 33 4 93 44 83 83, email contact@107promenade.com or visit www.107promenade.com.

Algarve set to see tourism boost from new cheap flights to Faro

by Charlotte Ashton Portugal

 

Ryanair recently announced it will open its 39th base at Faro in March 2010 with 6 based aircraft and 14 new routes (28 in total) being launched. The popular budget airline will operate over 200 weekly flights to/from Faro in an investment of over $400 million in the airport.
 
The new routes have been launched to help satisfy increasing demand for easy, affordable access to the region from across Europe. Portugal has a strong and sustainable tourism demand with 11 million visitors in 2009 (WTTC) and annual growth of 3% forecast until 2017.
 
The new routes which include Faro to Birmingham, Kerry and Knock will make the Algarve even more easily accessible from the UK and Ireland, a good indication that the region will see an increase in tourism numbers which in turn will generate higher demand for quality accommodation in the region.
 
This is good news for the recently launched Gotel an apart-hotel or hotel room investment opportunity perfectly located in the sought after western Algarve, overlooking the spectacular Praia Tres Irmaos at Alvor. The hotel is owned and operated by the Pestana Group, Portugal’s largest hotel and leisure operator, with a 30 year track record and thus assuring the future success. The hotel itself has a 15 year operating record.

Steven Worboys, MD of the specialist overseas property investment company Experience International, stated:
 
“The Gotel presents a unique opportunity to invest in a boutique hotel in Portugal’s highly sought after Algarve region. This project represents a next generation approach to property investment; apart-hotel rooms are widely regarded as a first-class turnkey investment product that are fully managed for the investor and require minimal involvement.”
 

For more information about the Gotel investment opportunity please contact Experience International on +44 (0) 207 321 5858 or visit http://www.property-for-sale-in-portugal.co.uk/.

Property in the Philippines – An investment not to be overlooked

by Charlotte Ashton The Philippines

 

According to latest figures released by The Global Property Guide the Philippines has ranked an impressive third place as a destination in which to invest in property with annual yields quoted at 10.99%.
 
Located in south east Asia, the Philippines has succeeded in beating off most other global property markets ranking third only to Peru and Indonesia with the impressive 10.99% annual yields being calculated on average yields for 120 sq m properties. 
 
So why are investors flocking to the Philippines?
 
  1. Rapidly developing nations such as China are located close by and with new direct flights being regularly introduced the Philippines is becoming a tourist retreat for Asian nationals
  2. The Philippines economy is enjoying a boost as the nation becomes a preferred business outsourcing base particularly for offshore call centres.
  3. The Philippines government is taking a long term view towards economic growth and stability with foreign direct investment encouraged and improvements to internal infrastructure underway.
  4. The close regulation on land use should ensure that this country remains unspoiled and never become a Costa del Sol horror story.
  5. The cost of purchasing property is relatively inexpensive compared to the West.
 
 
Steven Worboys, Managing Director of Experience International which specialises in emerging real estate, comments:
 
 “We are finding a more discerning purchaser considering the Philippines. Thailand and Malaysia have always been popular locations for investors in South East Asia but value for money and guaranteed rentals in the Philippines has encouraged a great deal of interest to these relatively unknown cluster of islands. 
 
“The Philippines is becoming a very popular tourism destination with the Australian market due to its proximity and has always been a hotspot for the American tourists however the expatriate community based in south east Asia are now visiting in their droves and often purchase their very own a slice of paradise”.
 
Experience International has a number of stunning developments available in the Philippines, with the popular Continent Fairways resort being located in the Boracay Bay area where the newest 5 star Shangri La hotel has just opened. Investment is from as little as £26,000 / $42,900 and 60% non-status finance is available.
 
For more information contact Experience International on 0207 321 5858, visit http://www.experience-international.com/country/philippines/development/Boracay-property or follow us at www.twitter.com/experience_int.

Paris to Nice Cycle Race – Front Row Seats at the Race to the Sun

by Charlotte Ashton France

March 7th sees the start of the gruelling Paris to Nice road bike race. This year 22 teams have signed up for the 1230 kilometre race which takes 7 days and covers some extremely tough stretches of road including a very nasty climb up the Massif Central Mountain ranges. But it is the stages around Nice that sees that truly sorts the boys from the men – this is a section where the average human would be concerned whether their 3 year old car is going to make it to the top – let alone leg power.

 
The Nice stage totals 119 kilometres and the longest climb takes place over 5 kilometres up to Col de la Porte at 1068 metres.  At times this road reaches a 7.2% gradient – classified as category 1 in biking terminology.  The riders then drop mercifully back down 90 m before putting them selves through the agony of climbing to La Turbie, 485 m and then Eze at 510 m.
The race climaxes with a maddening sprint down treacherous hair pin roads, possibly more terrifying than going up, to the flat and picturesque Promenade des Anglais on Nice´s sea front where only the most courageous of the descent have a hope of expending their very last vestiges of energy in a dash for the line and victory.
This cycle race is probably the most historical event in the professional racing calendar. Kirkor Ajderhanyan who runs Agence 107 Promenade says, “This event brings the crowds out in droves onto the Promenade. Many of our properties that are available for sale are overlooking the finish line and get the most wonderful views of the last stretch of this infamous race.” He goes on to say, “I know of several owners who make this event an excuse to host wonderful parties and show off their beautiful apartments.”
For more information on buying a property on the Promenade des Anglais please contact Agence 107 Promenade on 00 33 4 93 44 83 83, email contact@107promenade.com or visit www.107promenade.com.
— Ends —
On the market:
A beautifully presented modern 2nd floor 2 bedroom apartment with terrace and loggia offering panoramic sea views. The property consists of 105 sqm of living space with living room, equipped kitchen, 2 bedrooms and bathroom. Asking price € 680.000. For more information please contact Agence 107 Promenade on 00 33 4 93 44 83 83, email contact@107promenade.com or visit www.107promenade.com.

SIPPs celebrate 20th anniversary

by Charlotte Ashton United Kingdom

 

2009 saw the SIPP celebrate its 20th birthday. Launched in 1989 by the then chancellor of the exchequer, Nigel Lawson, these self-invested personal pension plans were introduced to offer a tax efficient savings option. After somewhat underwhelming beginnings the popularity of the SIPP grew considerably to become the most sought after means of pension provision with an estimated £30 billion invested in SIPPs today.
 
The esteem which Britons hold for pensions and property goes hand in hand and the ability for commercial property to be held in a SIPP has made the vehicle even more attractive. A trend which central London based investment property experts, Experience International, recognises:
 
“Over the last 12 months a new trend has emerged within our client base for investment in domestic and international real estate through a SIPP. Approximately a sixth of all investment in 2009 was made via a SIPP with most clients unhappy with their current pension provision, unsure about traditional banking and seeking tax advantages”, comments Steven Worboys, Managing Director. 
 
In accordance with SIPP eligibility guidelines only property designated for commercial use qualifies and requires approval from a FSA regulated SIPP provider adding additional security. Worboys continues:
 
“We are clear with our clients that in order for a property investment to be SIPP eligible it must be designated for commercial use only i.e. no personal use permitted. Many of our clients see the merit in this with one of our most popular projects being the Flaxby Golf & Country Club in Yorkshire which offers a 60% minimum income guaranteed over 10 years and Zurich Insurance Bond protecting the deposit.”   
 
It’s not only UK SIPP eligible property which is attracting interest however with Experience International’s project in the Philippines performing well in 2009. Over 60 units in the South East Asian islands have been sold to date, 10% through SIPPs with investors looking to capitalise on the demand for quality accommodation generated by the boom in tourism to the region.
 
Over the past 20 years a wider variety of investment products have become SIPP eligible including responsible investments. As Steven Worboys explains:
 
“In addition to property, investors are increasingly seeking more responsible investments especially those with a green agenda. Our latest project, the Panama Paulownia Project which is a hardwood timber opportunity has been incredibly sought after with investors attracted to the sustainable aspects as well as the 26.5% annual returns on cash invested and SIPP eligibility.
 
“Moving forward we see potential in this market; we are currently in negotiations regarding an exciting new product involving solar panels supported by the German government with the benefit of a German bank providing gearing on the equity invested (it is not a collective investment scheme or fund).”
 
As we move in 2010 investors will now so more than ever seek security and trust with regards their investments with the SIPP vehicle gaining in popularity as a form of pension provision. Experience International are looking to expand their SIPP eligible product base and offer an attractive commission structure for IFAs and intermediaries with clients who wish to invest direct or via a SIPP.
 
For more information please contact Experience International on 0207 321 5858 or visit www.experience-international.com.  

Dream Villas for Less

by Charlotte Ashton Turkey

A warm Mediterranean climate, great value for money, and fantastic beaches and scenery have tipped Turkey as one of the top holiday destinations for sun-starved Brits this year. If your idea of the prefect break is lazing by the pool in your very own villa, the country has some fantastic properties at tempting, non-Euro prices too.

“With over 2 million British visitors expected in 2010, dozens of new flights have been launched from UK airports by the likes of Easyjet, Thomas Cook and Pegasus airlines, improving access to the Turkish sunshine,” adds Dominic Whiting, editor of the Buying in Turkey guide. “This makes the country an appealing choice for villa buyers, with the added attraction of a growing rental market, with lettings website Holidaylettings.co.uk reporting a 70% increase in enquiries for Turkey in 2009.”
With unspoilt countryside and great beaches, Dalaman makes an attractive location for a villa in breathtaking scenery. The Akaya valley, 15 minutes from Dalaman airport, is an exclusive rural retreat with restaurant, great facilities and a variety of villas and bungalows. The award-winning properties cost £136,000-£188,000, with a property management service available from developer Curbanoglu, Tel 0845 355 5625, www.curbanoglu.co.uk
Overlooking the Blue-flag awarded beach at Sarigerme and the new Dalaman Hilton Golf & Spa Resort, the Ocean View Villas have a contemporary design, 3-5 bedrooms and private swimming pools, with prices from £152,000-£245,000.
The small resort of Kalkan has some stunning villas, generally with amazing sea views, though the 2-hour drive to Dalaman airport puts off some buyers. Prices are relatively high thanks to the area’s cache, with a four-bedroom villa with pool costing from £180,000-over £250,000.
For discerning golfers the Lavender Villas are set in beautiful countryside less than 5 miles from the nearest golf course; and with another dozen courses within 20 minutes drive at Belek. The family resort of Side, with its beaches, Roman ruins, shops and restaurants is only 6 miles away. Built of stone in a traditional Mediterranean style with large gardens and swimming pools, the three and four bedroom villas cost from £186,900.
For villa-buyers on a tighter budget, the Melito Villas in the Aegean resort of Kusadasi are 4 bedroom homes built around a large communal swimming pool. A great beach is only 400 metres away. The villas are priced at £75,000. Alternatively, the 3 bedroom Dolphin Villas in the quiet resort of Akbuk near Didim are available from £95,000.
For more information about the villas in this article contact Buying in Turkey, Tel: 0845 351 3551, www.buyingin.co.uk

Istanbul tipped by experts as Turkish hotspot in 2010

by Charlotte Ashton Turkey

Istanbul, the city poised at a juncture where the security of the west meets the promise of the east, is tipped to be the property hotspot within Turkey in 2010 according to international property experts at Experience International. And this insight has been echoed in the latest Emerging Trends in Real Estate Europe Report released last week by PWC and the Urban Land Institute who rank Istanbul, European Capital of Culture, number 1 in City Development Prospects in 2010.

Turkey has enjoyed significant growth over the past couple of years and is now a permanent fixture on the international property scene, some may say at the expense of other more traditional destinations such as Spain. This non eurozone country has capitalised on its attractive climate, stunning Aegean and Mediterranean coastlines, low cost of living and ease of access to the UK with 73,000 overseas nationals (Turkish Statistical Institute) already calling Turkey home.
It is not only demand for holiday homes which is fuelling Turkey´s property boom however; savvy investors are turning their attentions to rapidly growing cities such as Istanbul where the significant housing deficit presents opportunity.
As Managing Director of Experience International, Steven Worboys, comments,
“The success of Istanbul’s property market is a simple matter of supplyand demand. Due to the rapid growth of the city (some 400,000 newinhabitants arrive each year to work or study) the existing housingstock has reached capacity.
It is estimated that 250,000 new homes per annum are required until2015 according to the Real Estate Investment Trust Association tomeet the demand generated by foreign as well as domestic investment.”
Due to elevated market prices and limited availability of land within the central business districts, developers are now turning their attentions to the thriving suburbs of Istanbul constructing modern, western style residences aimed to meet the demands of the burgeoning middle classes.
The town of Beylikduzu for example located within Büyükçekmece county on the European side of the Bosphorus, is where the new Crystal Heights apartments and duplexes will be constructed. Crystal Heights affords a strategic location close to the two major motorway routes into central Istanbul, 20 minutes from Ataturk International Airport and awaiting a new metro-bus link and metro system connection yet only 10 minutes from one of the most popular seaside resorts of the city.
As Worboys comments,
“Beylikduzu has one of the strongest growth scenarios due to its proximity to the city centre combined with the benefits of living in a well serviced environment away from the over-crowding. The population of this suburb is expected to grow three fold within the next 5 years to over 1 million inhabitants further strengthening the perfect investment environment for growth and excellent rental returns. The contemporary styled residences of Crystal Heights offer all modern conveniences with first class on-site amenities including rooftop swimming pool, fitness centre and underground parking.”
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. Prices remain affordable with apartments in Crystal Heights available from £45,000 (fixed in sterling) for example. Capital growth is currently estimated at 15% and rental yields of up to 10% per annum expected (Crystal Heights offers a 2 year rental guarantee of 7% p.a. which is bank bonded on completion of purchase).
For more information about Istanbul and this unique climate in world real estate please contact Experience International on 00 44 (0) 207 321 5858, visit www.istanbul-property.com or follow us at twitter.com/experience_int.
 
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Editor´s Notes:
Top 10 Reasons to Invest in Istanbul
            
  1. Jones Lang LaSalle rated Istanbul as the 18th largest city in terms of GDP
  2. Increasing FDI with multinational companies such as Sony Ericsson, Vodaphone, HSBC and Tesco setting up offices creating an excellent long term rental market
  3. 55% of all trade in Turkey is generated from Istanbul
  4. Thriving city of 14 million people, 17,8% of Turkey’s population
  5. Istanbul is the European City of Culture 2010
  6. Rental yields of 7% – 10% are being witnessed
  7. Demand for housing far exceeds supply with the gap estimated at 250,000 units p.a.
  8. Foreign investors can exit into a local market of first time home buyers
  9. Construction of a third international airport was announced in 2009 on the European side at Silivri
  10. Government-led plans to decentralize the city with massive investment in infrastructure and public transportation