 |
Property in Istanbul, Turkey stands out from the crowd as giving the best investment opportunities in Europe, offering low risk and high growth. Previous buyers of investment property in Istanbul have seen a growth of 42 percent since February last year and those fortunate enough to have bought three years ago reaped rewards of up to 85 percent on both residential and commercial property, with both markets still experiencing record and almost unprecedented growth - thereby offering fantastic returns on investment. |
Price Waterhouse Coopers and the Urban Land Institute (ULI) named Istanbul Turkey as Europe's top performing hotspot for overall growth and for capital returns last year. The reasons behind the growth of the property market in Istanbul are based on solid facts of supply and demand, population growth and availability of finance, i.e. real social factors as opposed to the speculative factors that are so often given for many other property markets.
Although property for sale in Istanbul is still relatively cheap, buying in this market offers the potential to make excellent profits over the next two years.
Istanbul is an ancient and historic city and today, 15 million people are trying to live in a space built to hold a fraction of that number. The government has instituted enormous plans to revolutionise the way people live in and move around the city. The key to this is the creation of two major new overflow suburbs, one built to the West around Bahcesehir, the second to the South around the Kurtkoy/Pendik area.
Major new transport routes are joining these outlying suburbs to the rest of the city and it is these areas that the government foresees as becoming the future residential heartlands of Istanbul. Plans also include increasing the number of water taxis up the Bosphorus to the city. Whole sectors of society are now moving out of the crowded city centre to these well planned satellite districts that offer a far more comfortable lifestyle with their well-organised streets, parks and leisure facilities. These are aspirational areas highly desired by the wealthy middle class masses, and property on the Bosphorus is highly sought after by those with a few million to spare!
For those on a smaller budget, property for sale in Istanbul can start as low as £45,000 for flats / apartments or £80,000 for houses / villas. It is possible to find cheaper property, but this is likely to be an older building in parts of the city where perhaps the building regulations regarding earthquakes may not have been in place.
|
