Istanbul’s investment prospects outrank London’s as city is one to watch in 2016
- Istanbul one of the world’s top European cities for investment and development prospects (PwC and the Urban Land Institute)
- Istanbul’s potential continues to shine through to investors (Universal21)
- Turkey’s economy has become synonymous with stability and success (Prime Minister Ahmet Davutoğlu)
The latest Real Estate report from PwC and the Urban Land Institute ranks Istanbul as one of the top European cities with the best investment prospects. Placed above the capital cities of Edinburgh and London and climbing an impressive six places from last year’s listings, 2016 is set to be another positive year for Istanbul’s housing market.
Despite the recent political uncertainty that could have potentially deterred investment, these most recent findings suggest that Istanbul’s young demographic, coupled with the influx of new-build property, will keep its real estate market at the forefront of many investors’ minds. According to Cushman & Wakefield research, by Q2 of 2015 there were 1.9 million square metres of space under construction in Istanbul, and this increasing demand for property looks set to continue.
Adil Yaman, Director of Universal 21, the largest management company based in the city, is confident in Istanbul’s investment potential and believes that Turkey’s largest city is definitely one to watch for international investors throughout 2016. He comments,
“Istanbul has made significant advances in recent years, especially in relation to its real estate market and its ability to attract overseas investors. Property in Istanbul is still in high demand and I believe investors will be able to see its abundant potential shining through.
“We would expect 2016 to be another successful year for Istanbul’s housing market and PwC and the Urban Land Institute’s latest findings only confirm its place amongst key European cities with the best investment and development prospects.”
Turkey’s Prime Minister, Ahmet Davutoğlu, recently expressed his own confidence in the country’s future. Writing for The Wall Street Journal, he suggested that “Turkey’s economy has become synonymous with stability and success”, and one that will continue to appeal to both domestic and international investors. Looking towards a positive future, he added “the success of the past decade hasn’t weakened our resolve to go even further”.
Situated in the Beylikdüzü district of Istanbul, the newly launched Crest Plaza Residence from Universal21 offers an ideal investment opportunity for 2016. Just a 20 minute drive from Ataturk international airport, Crest Plaza Residence offer spacious living and benefits from an array of facilities that include a fitness centre, swimming pool, Turkish bath, steam room, sauna, and health club. Prices start from only £60000. With a huge demand for rental properties this is a very attractive step into this market.
For more information about Universal21, visit www.universal21.com or call 0203 287 8700.