On Monday the Turkish Statistics Institute announced extremely positive data for the Turkish economy, a 10.3% GDP growth in the second quarter of the year, making it the world's third fastest growing economy for April - June, behind Singapore and Taiwan. Overall for the first half of the year growth has been reported at 11% which has outperformed economic forecasts and construction has led the way in the recovery.
The Turkey construction sector posted a 21.9% growth in the second quarter of 2010 followed by fisheries and manufacturing, 15.7% and 15.4% respectively. These statistics back up the confidence in Turkey especially in the Turkish property industry.
Ray Clancy of propertycommunity.com this month added the following information on the countries largest city Istanbul "Real estate in the already burgeoning suburb of Beylikdüzü on the western side of Istanbul is set to receive a further boost with the announcement of a new Metrobus connection to the city centre, it is claimed.
Due to open in 2011, the Metrobus line will operate between Söğütlüçesme, a neighbourhood on the Asian side, and Beylikdüzü, transporting over a million commuters each day according to the city's Mayor, boosting real estate demand and in turn prices due to the increased accessibility.
Istanbul Metropolitan Municipality has set a budget of TL 100 million (£50 million) for completion of the fourth phase of the Metrobus project with the line having 10 new stops, underground stations and the terminal at Beylikdüzü located in a large square which will becoming a focus of the district in its own right.
Beylikdüzü is already one of the fastest growing suburbs of Istanbul with the population expected to reach a million in the next five years. Located within the Büyükçekmece county, Beylikdüzü is popular with middle income Istanbullians who are keen to benefit from living in a well serviced environment away from the overcrowded CBD.
The nearby seaside resort, only a 10 minute drive away, is one of the most popular day and weekend break locations for the local population and it is close to the two major motorway routes into central Istanbul. Ataturk International Airport is 20 minutes away and the new Silivri International Airport will be only a 10 minute drive.
Beylikduzu will also be home to the world's largest car showroom, Autopia Europia, complete with rooftop test drive track. In addition to the new Metrobus line, the metro train system is also due to be completed by 2011 with a number of stations in the Beylikdüzü area.
In response to sustained local demand, development of residential real estate is very much underway in Beylikdüzü with high quality projects such as the Istanbul apartments of No1 Knightsbridge currently under construction."
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