Turkey takes a bite out of the Big Apple’s tourism sector!

Turkey takes a bite out of the Big Apple’s tourism sector!

  • Istanbul to welcome more visitors than New York in 2015 (Mastercard’s Global Destination Cities Index)
  • 1% increase in house sales in Turkey in June 2015; 19.7% growth in number of house sales to foreigners in Istanbul (Turkstat)
  • Istanbul tourism also outpaces Singapore’s; on track to overtake Paris to become second in Europe in next four years (Mastercard’s Global Destination Cities Index)

Istanbul, Turkey’s largest city and cultural melting pot of East-meets-West, has been revealed as on track to overtake New York City with record tourist numbers this year for the very first time.

This eye-opening news came with the release of Mastercard’s Global Destination Cities Index, an annual travel study that rates worldwide cites for their international overnight visitor arrivals as well as cross-border spending.

A huge revelation given NYC’s seemingly steadfast standing that has had it on the tips of people’s tongues around the world for many years as a must-visit location, Istanbul is instead today drawing increasing attention. Predicted to see an impressive 12.56 million international visitors tread its streets in 2015 (ahead of New York’s 12.27 million) Istanbul now ranks 5th in the world in the new Index and its move up from 7th place over the last year signifies a growth of 11.4%, higher than any of the other 132 destination cities considered.

Further confirmation that the city has solidified its place on the global stage as an internationally-renowned tourist destination, this is excellent news for the growing regional property market. The latest figures released by Turkey’s statistical institute, Turkstat, show a 19.1% increase in house sales in Turkey in June 2015, compared to the same period the previous year, with Istanbul taking the lion’s share (some 19.5%).

Adil Yaman, Director of Universal21, the leading property agency in South-West Istanbul, gives his take on the emerging positive news,

“It really is incredible news that Istanbul is outpacing New York for tourism this year, marking 2015 out as an amazing year for the city and its bright future as a global destination. Compounding this fact is the additional news that yet again, the property market of Turkey’s largest city is flourishing as more and more people recognise the untapped potential in the growing sector, especially from overseas. Investment opportunities therefore abound as growing numbers respond to the positive reverberations.”

As Yaman indicates, in line with the growing tourism sector, Istanbul registered a show-stopping growth of 19.7% in the number of house sales to foreigners in June this year compared to 2014 figures, as increasing numbers either purchase their own holiday homes or recognise the potential of the buy-to-let market.

Not only proud to overtake New York, Istanbul is also outpacing Singapore (7th in the ranking) in the Global Destination Cities Index. This is especially interesting given that the Index highlights that visitors to Istanbul are the most diverse, with the largest mix of nationalities (an indication of resilience) yet Singapore’s lack in this regard. It is also on track to register visitor spending of $9.37 billion this year, an increase of an impressive 7.3% on 2014 figures, and a figure that places it 10th in the world.

In line with Yaman’s allusion to Istanbul’s “bright future”, the Index clarifies that Istanbul is Europe’s fastest growing destination city, going on to state that,

“Istanbul has a much higher growth rate than Paris. If these two cities continue to grow their international visitors’ numbers at the current rates, in four years, Istanbul will overtake Paris to become second-ranked in Europe after London.”

One project that is witnessing increased attention in this regard, especially from overseas buyers, is Diamond Residence from Universal21. This impressive project, formed of 148 beautifully-designed residences, is situated in a quiet, relaxed area of Istanbul’s upmarket Old Beylikdüzü, whilst still being in close proximity to all amenities and restaurants. Just a 20 minute drive from the main Ataturk airport, the property is also a short drive from the beach and a 10 minute walk from the area’s major shopping centre, Marmara Park.

One and two bedroom apartments are available, alongside an array of excellent facilities that include: 24 hour security, a Vitamin Bar, fitness centre, indoor swimming pool, children’s games room, Turkish bath, 5-a-side football pitch, gym, sauna and massage room and cinema room.

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

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