Property in Istanbul
Property in Istanbul: While the historic core of the city’s infrastructure is groaning under the weight of this rapidly expanding workforce (and thousands of tourists and business travelers), resulting in traffic that is frequently cited as the worst in the world, the new areas to the west are vast high-rise construction sites – one of 5,000 units – attempting to keep up with demand.
The combination of Turkey’s pivotal position bridging East and West, its robust economy, and its predominantly Islamic nation remains appealing to Middle Eastern investors who are not deterred by security concerns.
Turkey’s largest city is a vibrant magnet for investors, with rising prices, high rental demand, and a high quality of life. According to a leading real estate consultancy, Istanbul had the world’s third-fastest house price increases in the year to the end of March 2016, with an average property price growth of 19.6 percent.
Istanbul is Turkey’s largest city, its historical, cultural, and business center, and it is attracting a large number of migrants from the rest of the country (and from abroad, including Syria).