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Sections |
| Title | Starting Page | Number of Pages |
|---|
| Residential Real Estate | 3 | 1 |
| In 2007 the Housing Development Administration of Turkey began the construction of 150,000 residential units throughout the country, including 25,000 units in the capital Ankara and 60,000 units in Istanbul. | 3 | 1 |
| The planned and ongoing projects in the Istanbul region include: | 3 | 1 |
| In Turkey there are several public urban transformation projects, which will deliver residential units. The projects are: | 4 | 1 |
| 1. The Kartal Urban Transformation Project aims to remove old industrial areas and replace them with business and residential developments. The project will spread on 550 ha and is estimated at USD 5.5 bln. | 4 | 1 |
| 2. The Greater Municipality of Istanbul plans to develop a recreational complex on 6.3 million sq m in the city's Maltepe district. The Maltepe Park will feature green areas and sports fields. A road connecting the Maltepe Park and Kurtkoy district and a c | 4 | 1 |
| Office Real Estate | 5 | 1 |
| International consultancy King Sturge estimates there were 1.4 million sq m of modern office space in Istanbul as of January 2008. New developments are expected to deliver another 160,000 sq m of office space in 2008. Most of the new offices will be part o | 5 | 1 |
| In 2007 Istanbul main class A office areas were Kozyatagi, Altunizade and Kavacik on the Asian part of the City and Levent, Etiler and Maslak on the European side. Class B and class C offices are concentrated in Tepe Sisli Zinairlikuyu and Taksim. | 5 | 1 |
| In 2006, there was an increase in the number of transactions and a decrease in general vacancy rates on the office market. Moreover, the vacancy rates of B class office buildings showed a larger decrease than those for A class office space. | 5 | 2 |
| Retail Real Estate | 7 | 1 |
| The retail market in Turkey developed significantly in the period 2005-2007. The number of shopping centres has increased by 33 since the beginning of 2007 and totalled 188 by February 2008. Istanbul strode atop in terms of number of retail outlets with 61 | 7 | 1 |
| In 2008 Istanbul continues to be the main centre for retail developments but the opportunities for new projects become more limited and investors turn to other cities. The Turkish retail market has great potential for development as the density of shopping | 7 | 4 |
| Residential Real Estate | 11 | 1 |
| According to international consultancy CB Richard Ellis housing prices in Istanbul ranged from USD 800 per sq m for lower quality developments to USD 4,500 per sq m for high quality homes in 2007. The prices depend on location, size and quality. High-end | 11 | 1 |
| The Mortgage Law, which took effect in April 2007 boosted the demand for residential units. In 2007 the demand in Istanbul increased both for luxury and public residential schemes. Luxury residential developments, mainly part of mixed-use complexes, are lo | 11 | 1 |
| The currency and interest rates volatility, and the slight rise in inflation in the second quarter of 2006 reduced residential demand at the end of the year. However, there are expectations for a rise in demand. | 12 | 1 |
| In 2006, there was an increase in the demand for high quality office space. B class buildings in attractive locations such as ltunizade, Kavacuk, Levent and Etiler showed an increase in demand due to their advantageous location. | 13 | 10 |
