Istanbul property
Straddling Europe and Asia over the historic Bosphorus Strait, Istanbul is an ancient metropolis linking east and west. The city its self is an economic powerhouse and generates 21.2% of Turkey’s gross national product, employs 20% of the country’s industrial labour and is responsible for 55% of nation’s trade. This is all the more impressive when the fact that Turkey is one of the world’s fastest growing economies in taken into consideration.
Istanbul offers an eclectic mix of old and new with a history that has seen several centuries, cultures and traditions. Its strategic position as a stop off point for several trade routes has given the city a reputation for being a cultural and ethnic melting point, filled with Mosques, Bazaars, Monasteries and ancient walls representing the many ages and empires the city has witnessed.
Istanbul is rapidly expanding and will soon overtake the likes of London and Moscow to become Europe’s largest city. Over 400,000 new residents move to Istanbul to work or study every year. This has created an extremely high demand for real-estate which doesn’t show any sign of slowing as the annual supply of just 180,000 properties fails to satisfy demand of over 250,000 units a year. The city offers a great investment opportunity with average prices still much lower than other major European cities like Berlin, Paris, Barcelona and Rome meaning there is still plenty of room for growth.
