- Turkey home to most popular listing for first time
- Investors target opportunities under £100k
- Student property drives demand for UK property
Investors are gobbling up property in Turkey, reveals TheMoveChannel.com’s latest Investment Watch report. The country’s strong economy and improving infrastructure boosted its appeal in May 2015, as new apartments in Istanbul attracted the highest number of enquiries on the portal.
Diamond Residence, located in the upmarket area of Old Beylikdüzü, received 20 per cent more enquiries than its nearest rival in May 2015.
The project, which comprises 148 one and two-bedroom apartments, includes 24 hour security, a fitness centre, swimming pool, children’s games room and cinema. The properties were advertised at £57,000, with a 6 per cent rental guarantee for five years.
The return was topped by the runner-up listing, a student housing development in the UK city of Preston. The accommodation, consisting of 246 rooms, offered 10 per cent net income guaranteed for 10 years for £46,950.
Indeed, student property continues to be a driver of investment activity, thanks to the sector’s stability and low entry costs. In May 2015, student property accounted for three of the 10 most popular listings on TheMoveChannel.com, the 19th month in a row that the sector has appeared in the Investment Watch chart.
Student property is a central part of UK real estate’s appeal to investors: all three of the UK listings in the Investment Watch Top 10 were student accommodation investments.
Land and buy-to-let investments also remain popular opportunities among investors, accounting for three and four of the top 10 listings respectively.
Land in the Cayman Islands was the third most popular listing in May, with plots in Canada and Brazil also drawing interest.
The USA offered the most attractive buy-to-let opportunity, with properties generating up to 22 per cent net income and up to 12 month rental guarantees. Spain has also seen its long-term rental market grow significantly in the years since the recession, with apartments producing 6 per cent rental income.
The most important factor for many investors, though, was the price: all of the 10 most popular listings had an asking price of under £100,000, while seven of the listings were under £50,000.
TheMoveChannel.com Director Dan Johnson comments: “Buy-to-let property in Detroit and student housing in the UK have been hugely popular among international investors since the recession, thanks to their consistently strong yields and affordable prices. Indeed, with seven of May’s Top 10 listings under £50,000, investors are still being cautious with their budgets.
“It is no surprise that one of the only two listings worth over £50,000 in the Top 5 was located in Spain: the country’s housing market has become one of the most sought-after in the world, as a result of its bottoming prices, improving economy and favourable exchange rates thanks to the weak euro. Istanbul’s number one ranking establishes Turkey alongside Spain as an investor favourite: this is the first time that the country has been home to the most popular listing on TheMoveChannel.com.”
“The Turkish property market is fast gaining worldwide recognition, with the Knight Frank Global House Price Index for Q4 2014 placing the nation second in the world in terms of its house price growth and the country’s economic growth is also being forecast positively by The European Commission,” comments Philip Skorochod, Director of Turkish property agency Universal21, who have brought Diamond Residence to the market.
“Alongside this, Turkish tourism is booming – especially in Istanbul. Turkey’s top to-visit location witnessed an above-the-curve increase of 8.99% in the numbers of foreign visitors arriving in the first quarter of this year, according to the Ministry of Culture and Tourism, and this is obviously more positive news for the prospects of the property market.”
“With an expanding infrastructure, new ground-breaking projects under development and historic and cultural charm, Istanbul has much to offer,” the agency adds.
“There is a really positive, exciting vibe of growth and evolution in the city today, drawing international attentions and increasingly so. Taking 49.88 per cent of Turkey’s visiting population, Istanbul registers far more visitors than its closest rival of Antalya and for those looking to purchase a property that can be rented to these visitors, such investors are in luck. Diamond Residence is ideal for both overseas visitors and those looking to benefit from the growing market.”
Click here to see the full top 10 listings on TheMoveChannel.com in May 2015.
Notes to Editors
About Lead Galaxy and TheMoveChannel.com
Founded in 1999, www.TheMoveChannel.com is the leading independent website for international property, with more than 800,000 listings in over 100 countries around the world, marketed on behalf of agents, developers and private owners.
TheMoveChannel.com is one of more than a dozen international property sites operated under the Lead Galaxy brand. Lead Galaxy provides online marketing solutions to thousands of property companies worldwide, focusing on portal listings, email marketing, qualified leads, paid search and social media advertising.
The business is headquartered at 24 Jack’s Place, Corbet Place, Shoreditch, London, E1 6NN.
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