Istanbul, the capital of Turkey, is one of the most popular cities in the world, with a population that exceeds 13 million, a unique historical texture and a geographic location that brings Asia and Europe together, The historically rich city also is the country’s financial capital, serving as the meeting point for many global brands and continuing its steady rise in the world’s luxury real estate market.
- Arman Ozver, General Manager of Tukey Sotheby’s International Realty
It is in this exciting and exotic land that the Sotheby’sInternational Realty brand welcomed Turkey Sotheby’s International Realty in December 2010. “Istanbul is a culturally fascinating and exciting city, featuring some wonderfully diverse and unique leisure and lifestyle options for just about everyone,” said Arman Ozver, the firm’s general manager. “There is no shortage of recreation activities in Istanbul, from sports to cinema to cultural events. the city offers and exceptional night life as well as a wide variety of shopping.”
And Turkey’s economic growth is now the fastest in Europe. “According to the Organization for Economic Co-operation and Development’s projections for the long-term economic future, this trend is likely to continue,” he said. Arman, who has a 25 years’ experience in the real estate market, believes the continuously increasing number of real estate investments throughout the city makes it an ideal location to invest. “Turkey is a country that boosts the real estate market with its capability to compete in almost all industries, international standards, low interest rates, low exchange rate risk, financial leasing opportunities and international real estate funds.”
Since their launch, the firm has added several prestigious properties to its portfolio. Zeki Pasha Mansion in Istanbul, one of the most expensive properties in the brand’s network, is one such example. Located on the European coast of Bosphorus, this waterside mansion was constructed in the 19th century by Alexadre Vallaury and its pier is the largest among all the Bosphorus mansions. The firm soon will open its second office in Bodrum, one of the most popular vacation spots in Turkey and where 30 percent of their portfolio is located. They hope to open additional offices in Turkey over the next five years.
“We really believed there was a need for a strong, experienced and worldwide brand in the Turkish luxury real estate market, where Turkish consumers spent $14 billion Turkish Liras last year,” said Arman. “Naturally, we looked to the Sotheby’s International Realty brand. I foresee an increasing demand for modern high rise residence projects, as well as the beautiful mansions of Bosphorus and the historical buildings in Old-City of Istanbul. With the support of this brand and the entire network, combined with our local expertise, we are ready to meet that demand.”