Istanbul 'in demand for property'

Monday November 17th , 2008

Istanbul, which is to be the European Capital of Culture in 2010, is currently a property hotspot for international buyers, according to Istanbul2010.

Ozgul Ozkan Yavuz, director of events and organisations for Istanbul 2010, has said that the accolade will be valuable in creating more interest in property in the city.

She added that new cultural talent in the Turkish city would attract international artists.

The European Capital of Culture status gives cities the chance to present the richness, diversity and characteristics of its history for 12 months, and is connected to strong media interest and socioeconomic development for the city concerned.

According to the Republic of Turkey's Ministry of Culture and Tourism, the number of foreigners arriving in the country has increased 13.29 per cent since last year.

The most popular region is Antalya, taking 34 per cent of visitors, with Istanbul coming in second place with 25 per cent.

Last week, second home-seekers were advised to consider Turkey as a prime spot for property.

Andrew Hawkins, head of Chesterton International estate agents, said that Turkey had transformed dramatically in the last ten years and offers much potential.