What will a
successfull olympics bid mean for property prices
in Istanbul?
According to the Turkish Culture and Tourism
Ministry, Istanbul saw a 28.5 pc increase in the
number of tourists visiting the city in January
alone, meaning that many property investors are
keeping an eye on the local property market.
Property experts are predicting that prices in
Istanbul could double over the next few years
and with the increasing numbers of tourists also
visiting the city plus an influx of economic migrants,
rental demand in Istanbul remains strong thus
providing good income. Should Istanbul win its
bid to host the Olympics, this will increase dramatically
and anyone investing in Istanbul today would make
fantastic returns.
Istanbul hope that a successful bid for the 2020
Olympics and Paralympics will be a "platform
for change" Turkey's Prime Minister Recep
Tayyip Erdogan said here today as he provided
more details of their bid.
Erdogan received a standing ovation from a specially
selected crowd of politicians, sports administrators,
Olympic officials and international media as he
laid out Istanbul's plans, claiming that they
"learned our lessons" from its previous
bids.
Istanbul mounted four consecutive failed bids,
for the 2000, 2004, 2008 and 2012 Olympics.
In their last unsuccessful campaign Istanbul
did not even make it onto the shortlist for 2012,
which was won by London.
But their chances are considered to be stronger
for this contest and Erdogan, a former Mayor of
Istanbul, has already signalled that he is prepared
to offer unprecedented support to this latest
bid.
"We have listened and we have learned valuable
lessons from our earlier bidding experience,"
he said.
"Committed to delivering solutions to the
issues that were previously raised by the IOC
(International Olympic Committee), we have invested
heavily in increasing and improving our sporting
facilities, as well as developing youth participation
in sport at both mass and elite level.
"Recently we have successfully hosted international
events such as the basketball World Championships
in 2010, as well as the European Youth Olympic
Festival in Trabzon in July of this year."
Turkey mounted a strong challenge for the 2016
European Football Championships, only losing to
France by one vote in the election last year.
They had been pondering another bid to host Euro
2020 but following discussions between Erdogan
and leading sports officials they have now decided
to concentrate on the Olympics and Paralympics.
The bid will come on the back of the recent trend
of major events being awarded to developing countries,
including the 2016 Olympics and Paralympics to
Rio de Janeiro and the 2018 FIFA World Cup to
Russia.
"Whilst we are historically significant
city that divides two continents, our world today
is global," said Erdogan.
"It is not about east or west, north or
south.
"It is about much more.
"It's about providing the opportunity for
people to share and understand different cultures
and religions from around the world.
"It's about creating good will and acceptance.
"It's about new regions of the world becoming
a strong part of our world and helping us all
to prosper.
"The Olympic Movement has the power to influence
the course of the world and Istanbul wants to
be the platform for change.
"We can be the bridge that unites the world."
The centrepiece of Istanbul's bid will be the
Atatürk Olympic Stadium, which was built
in 2003 and hosted the 2005 Champions League final
between Liverpool and AC Milan (pictured).
Erdogan claimed that most of the facilities needed
to host the Olympics were already in place while
Istanbul's rapidly improving infrastructure will
be ready by 2020.
"The investment needed to stage an Olympics...we
are talking pennies," he claimed.
Istanbul join a field which also includes Madrid,
Rome and Tokyo.
Unlike their rivals, Erdogan claims that Turkey
has weathered the worldwide economic crisis without
major problems.
"In a time of global economic downturn,
we maintain our position as one of the fastest
growing economies throughout the world,"
he said, claiming that the Turkish economy had
grown by 11 per cent in the first quarter of this
year.
"We will provide the strength, stability
and secure foundation that is needed to guarantee
and deliver the IOC's institutional and operational
requirements.
"We are confident that the same forward
thinking characteristic that is driving our economy
will be potrayed within the organisational committee
that will lead this bid.
"Our most siginficant focus towards the
Games is on our youth and the inspirations that
will drive them.
"Given that the average age in Turkey is
29, we want to leave a lasting legacy that will
instil values from the Olympic Movement into the
youth of today; not only in our own country, but
throughout younger generations in all countries,
throughout all religions and cultures."
Ugur Erdener, the President of the Turkish National
Olympic Committee and a member of the IOC, was
thrilled with the level of support the bid is
already receiving.
"We are delighted that the whole country
is rallying behind this remarkable event, and
with support from the President of the Republic
[Abdullah Gul], our Prime Minister, all our Government
and our great nation, we fully believe that we
are in line to become one of the strongest contenders
for this bid," he said.
There could also be bids from Doha and Durban
but Erdogan is confident that Istanbul have everything
in place to be successful.
"Istanbul is ready," he said.
The host city will be chosen by the IOC at its
Session in Buenos Aires on September 7, 2013.
Article by Duncan
Mackay
With property prices already escalating rapidly
in Istanbul, any suggestion that Turkey is likely
to win its bid to host the olympic games in 2020
will send prices skyward. Anyone buying a property
for rental will also make excellent returns on
investments and with some fantastic apartments
for sale in and around the city centre, it
is well worth looking into investing in Istanbul.
23rd August - A member of the
International Olympic Committee (IOC) said today
that there was a strong possibility that Istanbul
could become the host city for the 2020 Olympic
Games and will be competing against Rome, Tokyo
and Madrid. Describing Istanbul as a young, dynamic
and energetic city, Schormann said the constant
transformation and improvement in the city was
its biggest advantage. The Olympic committee member
also said nobody should lose hopes because the
city's candidacy had earlier been turned down
four times.
Klaus Schormann, president of the International
Union of Modern Pentathlon (UIPM) and a member
of the IOC Commission for Culture, said it was
the best time for Istanbul's candidacy to host
the Olympic Games. “There has never been
such a strong possibility.”
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