250% increase in Chinese enquiries: Surge in tourism from China shakes up Istanbul property market

250% increase in Chinese enquiries: Surge in tourism from China shakes up Istanbul property market

  • 250% increase in enquiries for Istanbul projects from Chinese buyers this year (Universal21)
  • 50% increase in Chinese tourists to Turkey in past 3 years; on track to reach 300,000 figure this year (Gazi Murat Şen, TÜROFED)
  • Interest particularly focussed around upmarket district of Beylikdüzü (Universal21)

Known to be popular with Arab buyers, both those looking to capitalise on the city’s investment potential and those looking to purchase their own holiday home, Istanbul is today welcoming a new nation to its expanding property market.

Figures released by leading Istanbul agent Universal21 reveal a huge 250% increase in enquiries from Chinese buyers this year. Paving the way for a shakeup in the market that is currently dominated by Middle Eastern buyers, this could mark a turning point of Turkey’s largest city.

The release of these figures comes at a time when tourism to Turkey, and predominantly Istanbul, is on the rise, with the number of Chinese visitors in particular increasing substantially over recent years. Gazi Murat Şen of the Turkish Hotels Federation (TÜROFED), explains that in the last three years this has been particularly noteworthy when there has been,

“a 50-percent increase… in the number of Chinese tourists. In 2012, 112,000 Chinese tourists traveled to Turkey, increasing to 140,000 in 2013 and 200,000 in 2014.”

With much to appeal to Chinese visitors, from stunning architecture and a rich history to varied gastronomy and a growing luxury retail sector, this looks set to continue at record-breaking levels in Istanbul. Gazi Murat Şen agrees, predicting that numbers of Chinese tourists arriving in Turkey will top the 300,000 figure this year, with the number one tourist destination on track to take a fair slice.

Universal21’s booming enquiry levels from potential buyers from China show that this growth is beginning to impact the region’s property market too. Adil Yaman, Director of Universal21 explains more,

“We have always found that it is buyers from Arab nations that dominate in terms of enquiries into our range of Istanbul projects, but this is now slowly beginning to evolve. Whilst it is easy to assume that Middle Eastern interest will remain at the fore, it is very interesting to see the impact that buyers from China are now having on our enquiry levels.

“Such potential buyers are showing particular interest in our most recently launched projects, situated around the upmarket district of Beylikdüzü, an area on the European side of the city known for its high level of green space and excellent transport links. With this a district that we are concentrating on more and more, we only see this expanding interest as set to continue. We are very proud to welcome this new nation to our satisfied client base.”

One project seeing interest from potential Chinese buyers is Universal21’s Diamond Residence. Located in a quiet, relaxed area of Old Beylikdüzü, whilst still being in close proximity to all amenities and restaurants, the project is just 20 minutes from the main Ataturk international airport. Not only this but also being only a short drive from the beach and a 10 minute walk from the area’s major shopping centre, Marmara Park, make this an ideal location for investors and leisure-buyers alike.

Diamond Residence is comprised of 148 beautifully designed apartments, of both one and two bedrooms, and it also offers an array of excellent and functional facilities. These include 24 hour security, a Vitamin Bar, fitness centre, indoor swimming pool, children’s games room and cinema room.

One bedroom apartments are priced from £57,000 / €78,000, with two bed apartments priced from £98,000 / €132,000

For more information about Universal21, visit www.universal21.com or call 0203 287 8700.