Istanbul has been named the world's second best place to invest in property* - and now investors with all budgets have their eye on Turkey's first city.

With the fourth highest number of billionaires [Source: Forbes], Istanbul proves that Turkey isn't just about good value coastal property. Rental yields are reaching up to 7.6% for apartments in the city centre, while developments in the suburbs are giving returns of up to 8.8% [Source: Global Property Guide].

Demand is being driven by Istanbul's domestic and international population, which is growing at 1.5% a year**, giving year-round rental opportunities for buy-to-let investors. Billions of dollars worth of foreign direct investment are also pouring into Istanbul's real estate - $15billion-$20billion predicted in 2008 [Source: International Investors' Association].

According to Turkey's Land Registry General Directorate, 73,000 foreigners now own property in Turkey, with 8,830 buying in Istanbul. Julian Walker from Turkey property specialists Spot Blue says: "Investors are scrambling to have their own square metres in Istanbul because they feel confident of the city's excellent rental returns".

"Others are reallocating their funds because the Istanbul market is still showing signs of growth. Spot Blue has also been sourcing hotels for private investors who are confident they'll get good returns if Istanbul wins its bid to be the European Capital of Culture for 2010".

"Istanbul might be way down the list of the world's most expensive cities, at number 37 [Source: Global Property Guide], but it has property to suit the budget of a billionaire. And while there might be a global credit crunch, buy-to-let properties in Istanbul are proving popular for a younger demographic who are looking to use their profit to get on the UK housing ladder. We are now offering finance deals for the buy-to-let investor." says Walker.

"Spot Blue is offering these clients a range of city-centre apartments in the popular neighbourhood of Beylikduzu for under £36,000, just 45 minutes from the airport. There are fantastic rental potentials in this bustling part of the city from a growing domestic and international population in Istanbul".

"For a higher budget we're selling a stunning €6.5 million reconstructed palace with grand interiors, studio penthouse and amazing views over the Bosphorus."

Istanbul facts at a glance:

• *PriceWaterhouse Coopers and the Urban Land Institute have officially named Istanbul as the second best place to invest in property, behind Moscow.
• Forbes, in the US, says Istanbul has the fourth highest number of billionaires in the world.
• Global Property Guide says city-centre residential rents in Istanbul range from $1,850 per sqm to $2,500 per sqm, giving yields of 6.32%-7.58%.
• Global Property Guide says rental yields in the suburbs range from 6.5% to 8.8%.
• **Government-backed Tourism in Turkey says it is confident Istanbul will win its bid to be named European Capital of Culture in 2010.
• Istanbul's chic restaurant line-up is now attracting even more high-profile and famous clients with the opening of Japanese restaurant Zuma - the favourite dining hangout of the Beckhams and Madonna.

Turkey facts at a glance:

• Turkey's Deputy Prime Minister, Nazim Ekren, says annual GDP is growing at 6.5%-7%.
• The British Chamber of Commerce for Turkey says every week the government's Investment Assistance & Promotion Agency receives 25-30 foreign visitors looking to make major investments in Turkey.
• Foreign investment in real estate was $3 billion in 2006 [Source: Colliers].
• European investment in Turkey was $14.7 billion in 2006, up from $6.6 billion in 2005 [Source: Colliers].
• The International Investors' Association (YASED) says Turkey can expect a foreign investment inflow of $15-20 billion from 2008 onwards.
• A new mortgage system has opened up the Turkish market for both Turkish nationals and foreign investors.
• Spot Blue has secured several mortgage products for its clients, including a buy-to-let mortgage to suit a city investment in Istanbul.
• Annual population growth of 1.5% [Source: Colliers]

Walker from Spot Blue continues: "As Istanbul grows, there are other areas on the verge of the city that will go up in value. None of this is overnight, which is why we advise our clients to invest in Istanbul for the long-term. One thing's for sure - investors are certainly getting a lot more value for their money compared to London."

CHIC CITY POTENTIAL

Spot Blue is offering investment apartments at Beylikduzu, from £35,795. Situated in one of Istanbul's most popular neighbourhoods, close to shopping malls and university.

http://www.spotblue.co.uk/property_400.asp

BILLIONAIRE LIFESTYLE

For high net worth investors, €6.5 million buys this stunning reconstructed palace overlooking the Bosphorus. Grand interiors throughout, spacious garden, penthouse

http://www.spotblue.co.uk/property_391.asp

about Spot Blue:

* Spot Blue is fast-becoming a national brand for selling the widest selection of property in Turkey. We have operated for over four years and have offices in both the UK and Turkey - we only sell property in Turkey.

* We carry out due diligence on a large number of resorts and we always show clients planning permission and building licences at the very earliest stage.

* Our philosophy is simple: We provide an honest and personal service. We also believe in total transparency and independence.

* We are members of the following trade bodies:

• The Association of International Property Professionals
• The National Association of Estate Agents incorporating FOPDAC
• FOPDAC carried out due diligence on us via bank, lawyer and accountant references
• Turkish British Chamber of Commerce & Industry
• David Walker, the director of Spot Blue, sits on the Board of the TBCCI. This body acts as an NGO for commerce and trade between Turkey and the UK.
• The British Chamber of Commerce of Turkey
• European Confederation of Real Estate Agents
• Alanya Chamber of Commerce & Industry (ALTSO)

We are registered and approved by ALTSO to sell property

For further information contact:

Amanda Billige or Charlotte Ashton at
Ashton Billige Property Marketing Ltd
Email: c.ashton@abpropertymarketing.co.uk
Or a.billige@abpropertymarketing.co.uk

Telephone: 01306 877800