Istanbul’s growing real estate market - The Evening Standard
Featured in the UK newspaper The Evening Standard on the 21st of January 2013, this article is written by Cathy Hawker and investigates into the Istanbul real estate market and why it has stood strong during the recession and continues to deliver growing prices and strong profits for investors in Istanbul.
With many global buy to let markets having spiralled downwards since the 2008 global economy struggles, Cathy argues that the buy to let market in Istanbul is as strong as ever with a superb economic outlook for the foreseeable future – Turkey’s biggest city and the business hub between the East and the West will continue to perform well and deliver strong results.
With Turkey reporting a strong 8.9% GDP growth rate in 2011, and a strong performance in 2012, coupled with the fact that inflation is under control and strong finance markets – Turkey is emerging as the Euroasian Tiger as called by some; with Istanbul sitting atop of all of this.
Featured within the article is a client who purchased a property in Istanbul with the assistance of Property Turkey. Altan Halil purchased a one-bedroom apartment in the Beyoglu area of the city and renovated it to a high standard – all for the modest price of £100,000. The article showcases the successful rental of the property since being purchased, returning a healthy profit for Altan.
Noted within the article, are the upcoming and emerging suburbs within Istanbul – the next areas for investment. Cathy suggests that those who invest in Bahcesehir on the European side of the city will stand to receive a health profit on the properties in years to come. For a selection of investment properties in Istanbul, give Property Turkey a call now, or see our Istanbul real estate section of our website where we have several hot properties primed for investors including homes with rental guarantees in place.