Istanbul has proved itself to be one of the most exciting property markets in 2011 both for lifestyle second homes and investment property opportunities. With a growing economy, no restrictions on foreign ownership and finance now available, all signs point to ever increasing prosperity and great returns for those who invest in Istanbul and other growing Turkey property markets.
Number one city in Europe for capital growth.
High capital growth forecasted for the next 5 years in excess of 15-20% per annum.
Current population is estimated at 15 million, increasing by approximately 250,000 a year.
Turkish government forecasts the need for 2.5 million new homes by 2015.
Anticipated 500,000 new buyers annually for both residential and commercial property.
New mortgage legislation allows foreigners and locals to borrow, driving prices upwards.
High rental yield with returns above 7.5% – 10%, long term local tenants.
One of the fastest growing economies with GDP averaging 8% p.a over the last 5 years.
Regional HQ for blue chip companies Including Sony Ericsson, Microsoft and Coca Cola.
8 million tourists in 2010 with a 22% increase for Q1 and Q2 of 2011
More tourists in 2011 than the whole of Brazil!
Voted Buy To Let Investment Hotspot of 2012 by The Wall Street Journal