Istanbul Office Investment Accelerates in Q2

ISTANBUL-Office investment in the Turkish metropolis Istanbul accelerated in second quarter 2010 after many international firms that had suspended a search for assets in the global crisis re-entered the marketplace, says realtor Propin Property Investment Consultancy.

Its 2010 Second Quarter Istanbul Office Market Report said the general vacancy rate in Class A office buildings in the Central Business District was 11.7%, while Class B Office Buildings was at 12%. Class A office vacancy fell in all districts. In Levent, where demand is always high, it slid to 3.3% from 4.4% in Q1 2010, though Class B office saw small rises.