While living in the UK property sector after Brexit serious losses, Istanbul stands out as alternaif London.
After the decision to leave the EU waters not focused on the UK. Credit ratings are issued consecutive negative forecast for the UK, reaching number 7 to June 23, real estate funds since ceased its operations.
Arabs are escape
According to Senay Kosdere from the Aksam news, the country’s economy after the EU decision while largely leaving work in fifth place in the world ranking with the decline in the pound has lost in France. Meanwhile, severe concussion wave to wave began to spread to sectors and companies in the economy. For years, the Gulf countries and in the eyes of Arab investors in the UK real estate market came quickly at the beginning of the sectors affected by the quake.
Arabs take home the rich or the first preference and safe haven to invest in London, quickly began to fall from grace after Brexit. Investors began to quickly dispose of the assets of real estate in the city. The escape of the main actors in the real estate market is said to be Arab investors.
Prices offices fell %20
Analysts say the country from the EU out of the next three years in office prices could fall up to 20 percent in terms of warnings has caused investors to pull money from the British real estate funds quickly. During the 2007-2008 crisis in real estate funds it was forced to stop operations and shaken in a similar way. This has led to a 40 percent drop from the peak of property prices in the UK.
TURKEY SAFE HARBOUR
Iron Building Chairman Hamid Demir also said that the decision Brexit affect the currency market in the short and long term, ” the fluctuations in the currency market, the referendum result also affecting the construction sector. safe haven in each period for real estate in Turkey “he said.
OPPORTUNITY FOR TURKEY
An opportunity to decline in the UK property market in Turkey, according to Turkish contractors. Because it attracted Arabs from the UK real estate market will enter a new money into safe-haven buying. And the biggest alternative is always to London for Arabs Istanbul. World investment in the real estate market also brings intensity and no alternative means of Istanbul.
Believe in the Construction Board Chairman Serdar Inan thinks the Istanbul property market will affect the funds come from the UK as soon as possible . Serdar Inan say: “So far, it Londrr Istanbul’s alternative for the Arabs. Arabs who negotiate for us in Istanbul Fair, home and office in London was taking no negotiable. Now it will be the most important address for those funds out of the London Istanbul, “he said.