The largest property developer in the United Arab Emirates recently announced that it will invest $700m into an Istanbul housing project, and research by top accountancy firm PricewaterhouseCoopers (PwC) reveals that Turkey’s GDP has grown from 3% to 5.5% in just two years here is little question that Turkey - and in particular Istanbul - remain attractive real estate investment locations.
Despite the global economic downturn and the direct impact that this has had on many investors’ activities, there are still markets with massive potential for growth and rental return…and seemingly Turkey is one of them.
When Turkey apparently emerged with strength and speed from the global economic downturn, property investment experts across the world named property spots like Istanbul or Bodrum peninsula as reliable options for those looking to make a relatively swift return on property investment activity.
Interestingly for anyone looking to relocate abroad and who might be considering Turkey, the 2011 Emerging Trends in Real Estate Europe report produced by PricewaterhouseCoopers (and the Urban Land Institute) identified Istanbul as first in Europe for new acquisitions and development, outranking the likes of London, Paris, Munich and Warsaw.
