Istanbul - Is it the best option in Europe?

G

Gunn

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I'm reading that Istanbul property is the most promising in Europe for the following reasons:

- Turkish economy experiencing strong growth vis a vis rest of Europe
- Huge population in Istanbul - 15 Million
- Strong local demand for buying and renting
- Mortgages introduced and falling interest rates

Indeed a PwC report cites Istanbul as the best prospect for development and anticipates some of the strongest property returns in Europe.

Is Istanbul as promising for investors as these factors indicate? Or are there some downsides that need to be considered? Perhaps some members have experience of this market? Any insight you may have will be appreciated.
 
Istanbul is really great, cosmopolitan city! 18 mil with the emigrants and illegal workers, to be fare :). Strange place as well, I agree. If you get to know somebody there, and make good relationship, this somebody will take care of all your needs, and take your trust as a great honor ... but as everywhere else, you have to find the right person :). As for the properties: the Asian part is cheaper, but not as vibrant as European one.
Good Luck!
 
My experience of investing in Istanbul has been very positive and better than any other European property market. Since 2007 I've owned property there and even during the height of the crisis prices have remained stable. My units have been almost constantly rented and I am seeing 10% net yields.

My feeling is that this market has a lot more growth left in it due to the demographics and the success of the economy which grew 11% in 2010 and is forecast to be one of the fastest growing in Europe. Then look at the rest of Europe. Don't confuse Istanbul with the rest of the Turkish market, the dynamics are very different.
 
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