The possibilities of the Marmaray tunnel is beginning to prove irresistible to large British firms interested in what it can offer them when it comes to direct – and far quicker – links with Asia, Oceanwide Properties has learned.
The new rail tunnel, which was opened last month and measures 8.5 miles long, connects Asia and the West under the Bosporus (a strait which divides Istanbul). Prior to the tunnel opening commuters had to cross via one of two bridges which were regularly congested due to the fact Istanbul is a growing commercial city with a population of more than 16 million people.
The city and its new tunnel has been attracting people looking for property for sale in Turkey as well as UK industry and commerce. And China’s plans to build a high speed rail network means that in the future Istanbul will be in an even more favourable position – especially as one day it may be possible to travel from London all the way to Beijing via train; stopping off at Istanbul en-route.
Improving Trade in Turkey
Leigh Turner, the consul general and director general of UK Trade and Investment in Central Asia and South Caucasus, told the Telegraph newspaper that Turkey had already witnessed “a steady flow” of UK companies becoming more attracted to the country thanks to the annual 3.7 per cent growth rate of the economy for the first six months of this year.
He added: “British goods exports to Turkey were up 11.3 per cent in the first eight months of 2013, so the opportunities are definitely there and the Marmaray tunnel can only help fuel further growth.
“We’re also excited about opportunities for growth in Central Asia and the South Caucasus, where we in Turkey are working with our embassies in the region to help encourage British companies to engage further.”
Turkey property close to the Marmaray link and at nearby outlying stations has already become attractive to investors who are keen to trade in on the commuting links of the new underground rail tunnel.
There are already a high number of British expats in Turkey working for employers with UK-based headquarters. The country also receives around 2.5 million British tourists every year.
Meanwhile, Turkey’s inflation rate was down for the month of October for the third month in succession, making living costs in the country even lower. It fell from 7.88 per cent in September to 7.71 per cent last month and was also lower than the same period year on year (7.8 per cent in October 2012).
Increases went on alcohol and tobacco while food also went up by 11.3 per cent. Clothing and footwear increased by 9.12 per cent.
If you’re thinking of a change of lifestyle – whether on a full or part-time basis – then Turkey is certainly a country worth considering. Here at Oceanwide Properties Turkey we can provide advice and information on investing in property for sale in Fethiye, Kalkan or other popular resorts around coastal waters. You can contact us either by email or telephone.