: 2016-03-21 Modified date : 2019-03-07
The preparations for Cityscape Turkey 2016, the most extensive and largest real estate investment exhibition, continue expeditiously. Cityscape Turkey, which will be held at the Istanbul Convention Center between 24-26 March 2016, will bring together the national and international companies and investors who guide the real estate development sector.
"This exhibition makes direct foreign investment in the real estate sector considerably easier," Ismail Sezen, the Managing Director of (?st Expo) to organize international exhibitions said. Mr. Sezen also added, “Cityscape Turkey is receiving great interest from real estate developers, international investors, and real estate sector associations. The reservations of real estate companies acquiring stands were completed in a very short time, while many companies could not reserve their stands because of the high demand. This shows actually the strength of the real estate sector in Turkey today.”
Besides, Wouter Molman, the Group Director for Cityscape Global, the world biggest association in the real estate sector, emphasized that Cityscape Turkey 2016 will be supportive and raise the Turkish real estate sector, which has ambitious growth targets in the sale of Turkey’s real estate for foreign investors. Mr. Molman also added that he is so excited about the upcoming exhibition in Turkey, which has become one of the giants in the world in the real estate sector. He also said that Cityscape exhibition of Turkey is receiving great interest from the foreign investors, especially the investors from the Gulf States. We believe that the Turkish real estate sector will take a leap in 2016 and that Cityscape Turkey will contribute to achieving this target. He added that:
The giants of the Turkish real estate sector are preparing to achieve a remarkable boom and big target in 2016. Cityscape exhibition, which is held for the first time in Turkey, will be supportive and an important starting point to achieve this target. The investors, whether they are individuals or companies, will explore the most luxurious and famous real estate projects in Turkey and the world.
Because the Turkish economic and the real estate sector are growing together disregarding the negative developments the region is experiencing. This actually played a key role in attracting the foreign investors, particularly the Gulf capitals, to Turkey. This shall contribute to raise Turkey in the foreign investment and make it the most appropriate place for investment in the wide region. The Turkish economy has reached a level of growth up to 5 % on average since 2002. The national income has climbed to above 10000 US dollars annually. The construction sector has become the incontrovertible locomotive of the Turkish economy, while the real estate sector has shown regular growth since 2010. The data from the last 10 years shows that the real estate sector constitutes 4.5% of the Turkish economy.
According to the Turkish Statistical Corporation (TUIK) data, 1 million, 289 thousand, and 320 residential properties were sold in Turkey, in 2015. This figure shows that there has been an increase of 10 % when compared with 2014. Though the construction sector rate of growth remained below the gross domestic product (GDP) rate of growth, since the last quarter of 2014, it has not had any impact on the sales of residential properties. Sales, which continue to rise every year, show that residential properties are still the preferred form of investment, and the home loan figures support this.
The general atmosphere in Turkey concerning the future of the real estate sector and real estate investments is positive where paving the way for urban transformation projects shall make a great contribution to the growth of the real estate sector.
Risen real estate taxes in Europe, especially in England, will make Turkey the destination of more foreign investors and funds. Moreover, the increasing Islamophobia in Europe, which is the hatred and bigotry against Islam, will also ensure that most of the demands for real estate from the Gulf States slide from Europe towards Turkey.
We expect that the property development projects activities and the enthusiasm of the Gulf capitals will increase in Turkey, where the Black Sea coastline, in particular, has only just started to be discovered by the Gulf States. This Gulf interest in the Turkish real estate sector is expected to continue to rise, we believe.
The preparations for the Cityscape Exhibition in Turkey, which will be held at the Istanbul Convention Center in the period between 24-26 March, have completed. This exhibition is wildly considered as one of the most remarkable exhibitions in the world of real estate, as it shall offer attractive opportunities for the international and local real estate giant key companies that give direction to the real estate sector. It will also provide big opportunities for individual investors wishing to invest in the real estate sector. There will be substantial discounts up to 15% on many real estate projects, while participants in the exhibition shall be about 60 real estate companies. This exhibition will be held on an estimated area of ?? 7 thousand square meters, that thing that will make it the biggest exhibitions held by Cityscape group in history.
Wouter Molman, Cityscape Group Chief Executive Officer, confirmed that this exhibition will give the investor an excellent chance to explore a lot of real estate projects in one place. "This exhibition will provide attractive investment opportunities to investors, sellers, and buyers of residential units. Buyers will purchase the residential units in the exhibition according to special discounts provided by the exhibition, and this shall bring them a profit by buying," he added.
All statistics prove that the real estate sector is the most profitable investment sector in Turkey. During the past two years, the profits of the real estate sector have reached up to 68% as 1.2 million residential units in the year been sold, and the rate of growth, by that, reached up to 20% in 2015. Istanbul city recorded the highest rate in residential units selling this year, and by that, it recorded an increase in the sales of real estates up to 15%. Furthermore, the volume of the mortgage loans in Turkey has increased between 2002 and 2015 from $ 200 million to $ 51.4 billion, and more than 4 million residential units have been established during the period from 2002 to 2014. According to the Turkish Central Bank, prices of real estate residential units have achieved profits up to 68% in Istanbul, 13% in Ankara, and 25% in Izmir during the period between 2010 and 2015. Over and above, it is expected that the real estate sector in Istanbul shall record up to 15% growth in 2016, and that is because of the mega projects set up in the city, such as the Third Airport of Istanbul, which will be completed the next year.
According to the real estate index prepared by Reidin Gyoder Foundation in January 2016, the real estate market movement was as follows:
A rise of 44% over the last two years: During the last two years, prices in the sale of real estates increased by 44% in Turkey, while rents increased by 40%.
Istanbul made a profit of 25%: during the past year, Istanbul property prices increased by 26% in Istanbul, 22% in Izmir, 15% in Ankara, 16% in Bursa, 31% in Adana, and 24% in Izmit.
Cityscape is an Opportunity for the Foreign Investors in the Real Estate Sector
The final preparations for the Cityscape Turkey Exhibition, going to be held at the Istanbul Convention Center between 24-26 March 2016, are almost completed. Cityscape Turkey shall bring together the national and international companies and the giant real estate companies in Istanbul. The local and foreign investors are impatiently waiting for this exhibition, which is expected to provide valuable investment opportunities for them.
This exhibition, which will be held for the first time in Turkey, shall significantly contribute to create profitable investment opportunities for real estate investors, be that individuals or institutions. It is noted that, in addition to the local investors, there are a lot of foreign investors are strongly interested in participating in the exhibition. Many real estate experts expect that this exhibition will significantly contribute not only to activate the real estate sector but also in the Turkish economy in general.
"Cityscape Turkey would have a great significance for all investors, the Turkish real estate companies, and the Gulf investors. The exhibition will provide a good opportunity not only to show our projects but also to introduce Turkey in general and Istanbul in particular to the foreign investors," said Mr. Ali Agha Oglu, Chairman of the Board of Directors of the Agha Oglu Companies Group. He added that this exhibition is an important linking bridge between Turkey and the Arab Gulf countries in the field of real estate investments. He confirmed saying: "five years ago, when Cityscape Dubai was held, our company was the only Turkish company participating, but in the last year, the number of the Turkish companies participating in Cityscape Dubai Exhibition reached up to 61 companies. That shows how dramatically the Turkish real estate sector has increasingly opened on the outside world. We are pleased that our company has been a pioneer in this openness. "
Meanwhile, Mr. Ozan Kuzu, Board Member in Kuzu Group, emphasized that the real estate sector, which has faced a sort of stagnation due to the political instability in the last election period, returned to grow again because of the political stability and the economic improvement the country witnessed after the foregoing elections. Mr. Kuzu added, "The interest of the foreign investors in the market of Turkish real estates added a great value to the sector. On the other hand, the construction sector, which stagnated in the previous period, actives again after the political stability. We believe that Cityscape Turkey will notably contribute to join the Turkish real estate sector with the international investors, the thing that will play a significant role in activating the construction sector. "
Mr. Kaan Yücel, the General Manager of the Piyale Pasha Real Estate Company, talked about the foreign investors' influence on the real estate sector. He said, "The foreign investors, knowing the potentials of Turkey, have directed their interest to invest in Turkey. Moreover, an international exhibition like Cityscape Turkey shall contribute significantly to increase this interest."
As Mr. Celaleddin Polat, the Board Member of Oistona Construction Company emphasized that the stability of the Turkish economy, in spite of the hot developments in the region, has increased the interest of the foreign investors and attracted their attention to invest in Turkey. Besides, Cityscape will significantly contribute to highlight the Turkish real estate sector, which achieved real estate projects on a global scale.
Mr. Mohammad Safa Glick, Board Member of Sen Bash Company, has confirmed that foreign investors have a prominent place not only in the real estate sector but also in the Turkish economy. He added, "The expected interest from foreign investors, especially the Gulf ones, is huge, and it is incumbent on us all to work to increase this interest. We, as the representatives of the real estate sector, are pleased to organize a major international exhibition such as Cityscape Turkey Exhibition, where a lot of foreigners real estate investors will come to Istanbul to participate in this exhibition, and this will give them the opportunity to explore a lot of luxurious real estate projects in the country. On the hand, the representatives of the Turkish real estate sector shall show foreign investors all their real estate projects. In addition, the exhibition in Istanbul will give the opportunity for individual investors as well as companies to participate in the exhibition."
Mr. Ismail Sezen, the Director General of the East Expo Company, the sponsor of Cityscape Turkey, stressed that this exhibition has drawn great concern and participation of investors. He also added that Turkey has become an important center to attract foreign investors, and the year of 2012, which witnessed the Reciprocity Law modifying, is considered as a major turning point in the Turkish real estate sector history; 54 thousand residential units were sold to foreign investors during the last three years, while in the last year, it is noted that foreign investors bought 2 units of every 100 residential units sold in the country. However, the foreign investors' interest in the Turkish real estate sector will double with the Cityscape Turkey Exhibition, Mr. Sezen concluded.
Subscribe To Our Newsletter
to know more about the latest real estate offers