Non-Turkish residents planning on buying a property to rent in Fethiye, Kalkan, Bodrum or some other popular coastal resort in the country will be delighted to learn that the first phase of the new Istanbul Airport is set for completion in 2017.
That means you still have four long years in which to save for your retirement and/or holiday home in one of Turkey’s most lusted-after areas on what has become known as the Turkish Riviera (or Turquoise Coast) before life gets easier for you to pop to and from your Turkey property (and which, of course, makes it all the more appealing if you’re planning to rent it out as a holiday let).
At Oceanwide Properties we don’t just sell property in Turkey but also handle a number of rental properties for clients who only live in their property six months of the year and rent it out for the remainder as an investment.
Istanbul to Have World’s Largest Commuter Hub
Meanwhile, back to the Airport, which will sit 37 miles northwest of Istanbul. It’ll be built by a group of Turkish construction companies at a cost of $29 billion Euro and, on completion is expected to become one of the world’s biggest facilities in terms of the number of passengers it carries (it’s expected to be able to deal with around 150 million a year). The new airport will cover 77 million square metres of land and is viewed as geographically highly significant due to the fact it straddles both Europe and Asia.
Back in April this year Turkish Prime Minister Tayyip Erdogan informed a waiting world media that the new airport will have six runways and would, he said, “carry Turkey to a different level on the international stage.”
Existing Turkish Air Traffic
Turkey is already a busy commuter hub with Turkish Airlines carrying 39 million passengers to 219 global destinations last year. It expects that number to have jumped to 46 million by 2020.
Its current two airports – at Ataturk and Sabiha – handle 45 and 15 million passengers a year respectively.
Other Travel Improvements for Istanbul
Commuter projects for Istanbul – the country’s largest city – don’t just rest with the new airport. A high-speed train service has been planned to run to and from the capital Ankara and construction has already begun on a third 1,275 metre long suspension bridge leading into Istanbul over the Bosphorus River where 14 million people currently reside. The bridge cost $6 billion and is aimed at easing the city’s currently congested traffic. It’s expected to be completed and opened in May 2015.
For information about buying an apartment in Istanbul or a property to rent in Kalkan and other coastal resorts, then call us here at Oceanwide Properties Turkey where we can advise you on the buying process as well as provide you with a list of available properties for sale at this current moment in time.