Istanbul 'among the top European property investment markets'

Istanbul has emerged as one of the most attractive markets for real estate investment in Europe, new research has found.

According to the study by LaSalle Investment Management, the Turkish city climbed from 25th place last year to stand in fifth position in 2011.

The firm noted that the government's decision to establish a financial centre in Istanbul has helped buoy its property market, while the nation's strong gross domestic product growth has also boosted its appeal.

In addition, investors may be seeking assets in alternative locations due to the high price of prime properties in more established markets, the report suggested, which may be a further reason for the popularity of Turkish real estate among those with money to spend on such investments.

The residential housing market in Istanbul experienced price rises in September, the REIDIN.com real estate index for the country revealed.

Property values in the city increased by 0.96 per cent compared to the previous month, the figures showed.
 

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