As many global buy-to-let markets have been adversely affected since 2008, Istanbul is booming according to Cathy Hawker in an article dated 16 January 2013 in the Evening Standard Homes and Property. The feature underlines the bustling nature of this incredible city and points out that despite a global slow-down and Euro zone in crises, Istanbul property market stands strong and delivers healthy profits. Buy to let market in Istanbul is strong as ever.
With exceptionally strong economic outlook, Turkey's largest city and business hub Istanbul will continue to deliver. Turkey reported 8.9% annual GDP growth in 2011 and similar figures are coming out now for 2012. Inflation is under control and finance markets are very confident. All these are just some of the factors behind Turkey's emergence as the Eurosian Tiger, Istanbul being right on the top of Turkey's fast upwardly mobile trend.
The article features Islington, London born Altan Halil, who purchased a one bedroom apartment in Beyoglu, Istanbul with the help of Place Overseas and renovated it all for under £100,000. Altan is now renting his investment on short term lets.
Place Overseas advises investing in Istanbul city centre properties such as Taksim and Beyoglu areas, where there are healthy renovation opportunities as well as some amazing character properties such as the one show-cased in the article. Bosphorus front properties are tipped as the Knightsbridge of London.
The article also examines some up & coming suburbs of Istanbul such as Bahcesehir on the European side and suggests that invested selectively there are handsome profits to be made.
Relevant properties are listed below. To read the full article on the Homes & Property section of the Evening Standard dated 16 January 2013, please click HERE