The Turkish market has been booming for some years now and like most emerging markets, main cities see the most rapid growth but are mostly ignored by investors in favour of resort towns
Since 2002, Turkey has undergone an economic transformation, inflation is down, interest rates are greatly reduced and reforms have brought about an expansion in mortgage markets; all of which have helped the real estate sector.
Recent reports revealed how undervalued Istanbul's real estate is compared to the average property price per square meter in other cities. This makes Istanbul ripe for investments with a potential for huge returns.
Istanbul has gradually become the best place for residential investments in property; apartments can be bought for as little as £10,000 -£30,000. This is because investors usually turn their attention to resort towns like Fethiye, Bodrum and Kas. Such resort towns are still good value for money however based on the facilities most Istanbul apartments come with or are close to, properties in Istanbul are a steal at the moment. Most properties have facilities such as;
For such a big city, the apartments here are some of the cheapest properties in the country, investing in one will no doubt smash the average rental yields, thanks to its growing population.