As the whole Turkish real-estate market expands rapidly, it is Istanbul that has become the key hotspot. In a recent PricewaterhouseCoopers (PWC) survey, Istanbul property market leapt upward eight slots in risk-adjusted total return rankings from 19th in 2006 to 11th in 2007.
There is notable optimism for Istanbul's future. Several comments given in the survey were along the lines of Istanbul becoming ‘the star of the next decade’ and one of the interviewees commented that ‘the city is the biggest opportunity existing around the continent thanks to its holding potential’. The survey also noted the inevitability of Istanbul becoming a major investment destination for pan-European investors.