An extract from a brief interview with Cameron Deggin of PLACE OVERSEAS, Turkish property experts. "At the cross-roads, culturally, geographically and strategically, of Europe, Asia and the Middle East, Istanbul is set to be the next financial and business capital of the region. Unprecedented economic growth (GDP growth in excess of 8% per annum despite the global slow-down), cultural diversity and ease of doing business make Istanbul a highly attractive place to invest.
From low entry level suburbs, which attract upwardly mobile young professionals, to well established prime Bosporus districts such as Beyoglu, Sisli, Bebek, Taksim, there is something for every taste and budget. In 2010 – 2011 period, average property price growth for Istanbul exceeded 6.5%. With careful selection, keen investors can easily double this rate in the forthcoming 3-5 years.
I would tip central districts undergoing government funded rehabilitation and regeneration projects such as Beyoglu and Balat, whereas I would guide serious investors toward renovation in Istanbul old city and hotels."