As we speed towards Christmas, Turkey is offering prime pickings for overseas investors


With its property market continuing to grow at a steady rate, Turkey is showing signs of a strong bounce back from the economic crisis.

The country’s promising financial situation is helping to stimulate the trend for monthly growth. Turkey has a relatively small budget deficit and with the banking system emerging comparatively unscathed by the economic downturn, inflation has been controlled.

This has had a clear positive impact on the property market. Property Abroad reported that GYODER, Turkey’s Association of Real Estate Investment Trusts, has recorded double-digit annualised increases month-in-month-out over two years in the Index.

New home prices rose month-on-month in September by 0.32% and in October, new home prices were up 0.73% and 10.25% on the year – which equates to a 12.23% increase overall over the year.

Property in Istanbul is proving particularly popular among foreign investors – especially real estate on the waterfront.

With the area offering the greatest potential for return on investment, it continues to be a top choice among overseas investors – and a favourite among tourists year-on-year, according to local property experts.

Cindy Uriona, local property agent working with the Luxurion Real Estate Group, said: “The upscale waterfront districts of Bebek, Emirgan and Yenikoy offer huge potential with properties selling for 20-30 per cent less than before the recession hit.”

Property in Istanbul: why invest?

Affordable prices, a tourist hot spot and excellent potential for return – is there anything Istanbul can’t offer?

With Asia meeting Europe, Istanbul boasts a real mix of cultures and is an incredibly varied, dynamic city. In addition to its stunning waterfront, it is home to a number of historic and cultural gems, including the Blue Mosque, the Hagia Sophia and the Basilica Cistern, where scenes from the James Bond film From Russia with Love were filmed.

A stunning cityscape, delicious local delicacies and a welcoming people are just some of the reasons why so many foreigners are flocking to Istanbul.

If you are considering investing in real estate in Turkey, you will need to send money there – make sure you compare the market beforehand to find the best travel money exchange rates.

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As we speed towards Christmas, Turkey is offering prime pickings for overseas investors

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